How can I tell if a hotshot trucking business is profitable?

A one- or two-truck hotshot outfit can look busy and still leave little behind. The owner may drive every load, fix the truck on weekends and book work from a phone. A multi-truck carrier is read by unit, lane and customer, as in this page on judging a trucking company. A hotshot business needs a closer look at a few specific things.

Where the loads come from

Ask for a list of loads by source for the last few years. If most work comes from load boards or two or three brokers, the business depends on them continuing to send freight. Load boards are open to everyone, so a buyer can often get the same access. Direct shippers who ask for this operator by name are harder to replace and worth asking about.

Empty miles and uneven seasons

Hotshot loads are often one way, so the return trip may be empty. Ask how the owner handled that and what it cost in fuel and time. Demand also rises and falls with construction, energy and other industrial work. Look at the months that were slow and ask how the owner got through them before you assume a busy season will repeat.

What the owner’s time and the truck cost

The seller’s own driving rarely shows up as a wage. Ask what a hired driver would cost and see what is left. A pickup pulling heavy loads can wear out faster than a highway tractor, so ask what repairs, tires and replacement of the truck and trailer will cost you in the next few years.

• Trip records or load confirmations, matched to the statements
• Fuel, repair and insurance bills by month
• Loan or lease payments on the truck and trailer
• A written account of what the owner does each week