How to Write a Hot Shot Trucking Business Plan
Similar to the over-the-road trucking and box trucking industry, the hotshot trucking industry has been growing at a phenomenal pace over the last several years, which has led to a growing demand for well-prepared hotshot business plans, hotshot business plan templates, and hotshot pro forma financial projections.
Our hotshot business plan writer has identified numerous reasons why this industry is growing in revenues as well as in demand for business plans. One reason is that hotshot trucking companies provide a niche service in the trucking industry that includes transporting equipment, hauling small to medium-size freight on gooseneck trailers, and transporting cars to and from auction houses or dealerships. Because of the niche market served yet versatile usage, we anticipate the need for business plans for this industry to grow for the foreseeable future. From this, our hotshot business plan writer has come up with some tips and tricks for business writers to use when constructing well-formatted and documented hotshot business plans, business plan templates, and pro forma financial projections.
Executive Summary for a Hot Shot Trucking Business Plan or Template.
The executive summary for the hotshot business plan should start similar to a traditional trucking business plan by stating the company name, the legal structure of the organization, and home location address. Also, our hotshot business plan writer champions describing examples of freight that will be transported or expected to be transported by the organization. By including freight type in the executive summary, the business writer is able to quickly note specific niche services that may be provided by the company, which helps to differentiate the firm from other hotshot competitors.
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In the company description segment of the hotshot business plan, again, make sure to follow traditional trucking business plan formats, which include identifying the geographic area serviced by the company, discussing how logistics will work in regards to scheduling, and also stating how many trucks/trailers will be in operations day one. By setting expectations for the reader early on in the business plan about these business models, the writer can then provide themselves with opportunities to expand upon the topics as they see fit later in the company segment or other segments of the plan. In other words, lay the groundwork early on as to what your hotshot trucking company will do, the trailer in which it will use, and the service area for which you will serve. Then expand upon the topics later in the plan.
Popular Services Offered by a Hot Shot Trucking Company.
Hotshot trucking companies, as a rule, provide a relatively narrow scope of services for their customers. Based on our experiences, hot shot trucking organizations often use gooseneck trailers or car transport trailers to transport freight from one point to another. However, what is different about most hotshot trucking companies is the area serviced. In our experiences, again, some hotshot trucking companies will specialize in local or regional small freight transport. Other hotshot trucking companies embrace business models focused on nationwide transport services. No matter which business model is embraced, make sure to specifically state the geographic area serviced and describe the trailer used or expected to be used in freight transported.
Marketing Section for a Hot Shot Business Plan or Hot Shot Business Plan Template
The marketing section for a hotshot business plan typically includes magnetic signs on the sides of the truck, word-of-mouth advertising, and utilizing load boards to obtain hauls. Further, our hotshot business plan writer has found that business owners in this industry have also been embracing innovative and creative actions to help drive revenues and build brand recognition. For example, some hotshot business owners have taken to social media to improve brand recognition. Social media postings typically include pictures of products hauled, locations visited, and even short videos showing how hotshot drivers secure transported materials. These types of innovative marketing strategies for hotshot business owners not only set them apart from competitors but also helps clients appreciate the services provided (8/22).
The pro forma financial projections for a hotshot trucking company are very similar to over-the-road trucking pro forma financial models. Specifically, our hotshot pro forma financial projection professional starts a revenue segment by identifying, typically, how many miles will be driven on a daily basis by the trucking company. Next, we work with the hotshot trucking owner to determine the average price per mile that will be charged to their customers. Finally, the variable cost for the hotshot trucking company will be calculated, often using average gasoline prices, maintenance cost, and other variables. With the revenue segment of the financial projection business model complete, the business owner can then determine how drivers will be paid, whether it be hourly or by the mile, and allocate the cost accordingly.
Hopefully, these insightful tips and tricks for writing a business plan were helpful. As always, if you need help with a business plan or financial projections, just send us an email or give us a call.
Author: Paul Borosky, Doctoral Candidate, MBA., Author