Truckers can work as company drivers or they can become owner operators. There are many things to consider when deciding whether or not to become an owner operator. We recommend that new drivers work for a freight company in the beginning so that they have the opportunity to learn about the business, see what operational costs they can expect, and make connections. If you feel up to the challenge of being your own boss, then Truck Mart LLC can assist you in making the dream a reality!
PROS of Becoming an Owner Operator:
Be Your Own Boss:
Typically, working as a company driver involves less pay and less control over your own schedule. The main reason for this is the fact that the freight company is the one shouldering all of the risk. If you are paying for your own operating costs though, you will find that you can make more money. Just keep in mind that you will need to subtract business expenses, such as maintenance costs, from your overall profits.Also, you will get to go to work everyday knowing that you are working for yourself and your family, not for a large trucking corporation. By becoming your own boss, you are in control of your entire business. The harder you work, the bigger the reward that you reap.
Another large benefit of being an owner-operator is the fact that you decide what work to take. Yes, it will be your responsibility to find freight to haul, but you can decide how far you are willing to go as well as what hours you are willing to work. You will be able to decide if you want to drive across the country or stay closer to home.
As an owner-operator you make your own rules. Since the equipment is yours, you don’t need to ask permission to have a co-pilot or a furry companion. You can also customize your truck any way you please. Your truck is your home away from home, so why not have full control over it?
According to Indeed, the average annual income for an owner-operator in the United States in $190,665.00. Operating your own truck enables you to control things like fuel cost and other business-related expenses. If you work to lower your expenses, you will be able to increase your profit margin. Check out our blog post that explains how you can easily lower your spending as a trucker HERE. Being fully in control will enable you to make smart decisions for your business and for your wallet.
CONS of Becoming an Owner Operator:
Becoming an owner-operator definitely comes with a hefty start-up cost. Not only will you have to purchase your own equipment, but you must also consider the cost of getting your CDL as well as establishing your authority. Truckstop.com offers some great insights into getting your trucking authority, so click HERE to see their post on that.
The daily tasks of an owner-operator will involve so much more than just driving the truck and delivering loads. What we mean is that you better be ready to wear multiple hats. No only will you be driving the truck, but you will also have to keep track of expenses, general upkeep of equipment, and book your own loads. Booking loads will take a lot of time and will involve researching and scheduling load pick-ups. You may find that work will follow you home, but no one else is going to hand you work as an owner-operator.
Being an owner-operator can definitely be more stressful than working as a company driver because you are the one taking on all of the risk. If the business fails, you are not just out of a job, but you are out all of the money that you invested! Don’t let this fear paralyze you though. Just be ready to hit the ground running and face challenges head-on.
Becoming an owner-operator has many benefits, with one of the biggest being control over your life. If becoming an owner-operator is something that you are interested in, feel free to contact us at 800-377-3101 or fill out our online application here.
“IN THE END, WE ONLY REGRET THE CHANCES WE DIDN’T TAKE”-Lewis Carroll
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