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Title: hot shot. Pros/cons Post by: dwhd93 on May 07, 2012, 02:45:04 pm I been throwin the idea around for a long time now about startin my own hot shot company I already have a a machine and weldin shop that'll give me there business and that can put my name out there. I was wonderin what the pros and cons would be to this besides the obvious fuel and maintainence. Overhead basically. I've done a little research on it and there's really no start up costs for the state of Texas besides gettin a permit
Title: Re: hot shot. Pros/cons Post by: Eric on May 07, 2012, 03:20:26 pm Biggest down side is you will not have contracts... You will have customers... And you will bust it to keep them happy and thats not always good enough to keep them. Never bank on their word of how much work they have. Pay cash for your truck and trailer.
This is just my opinion... Some things may or may not apply... And there are is obviously more than one way to do things. Title: Re: hot shot. Pros/cons Post by: dwhd93 on May 07, 2012, 04:59:50 pm Just curious but y pay cash for the truck and trailor
Title: Re: hot shot. Pros/cons Post by: TwistedMidnite on May 07, 2012, 06:01:38 pm Need atleast 1 million in comprehensive insurance and another 100k in cargo/truck/trailer. Gotta have class a cdl, along with a few other permits. Go over 26k and NAFTA have ifta endowment, truck and trailer have to be dot certification along with all rigging for trailer, you have to have yearly drug screen , carry a log book , its alot to it to be legal ..
Title: Re: hot shot. Pros/cons Post by: redtick23 on May 07, 2012, 08:18:58 pm every one will try to cut your throat ,and your customers will think your to high and if you cant pay cash for your rig and permits then you better be readey to become a slave to your rig .
Title: Re: hot shot. Pros/cons Post by: dwhd93 on May 07, 2012, 08:29:16 pm Maybe not as good of an idea as I thought lol only thing u didn't know was that you needed a class a. I thought you just needed a class b
Title: Re: hot shot. Pros/cons Post by: PLP on May 07, 2012, 08:59:23 pm On top of everything mentioned already you should be prepared to wait on your payment for a min of 30 days. Infact if u have a customer that pays inside 30 u are lucky. For oil field related work it's more 60-90 days. It a service related business and all about relationships above the minimum standard of service. Most people I've seen go into that are out of it but still driving the worn out 3-5 yr old truck they bought new but now are stuck with to the new job they had to take because they couldn't pay bills on what they made running hot shots. For the same investment and basically the same insurance u can offer some other service to the industry and be more profitable.
Title: Re: hot shot. Pros/cons Post by: charles on May 07, 2012, 09:35:29 pm If u have a trailer n exceed 26,001lb u have to have a class a combination. I found out that even for personal, non commercial/business related truck n trailer, i hav to hav a cdl a combination since gross wieght exceeds 26,001lbs. I hav to hav it to haul my tractor, pick up metal or hay. Its another money gimick by the communists.
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