With a booming trucking industry, truck drivers are opting to be owner-operators. While some do it for the right reasons, others do it for the wrong reasons. An owner-operator is a business owner who owns a fleet of trucks or trailers. They operate under their authority and lawfully deliver freight without being hired by a company. These allow them to choose when they work, route, cost, what types of loads they haul, and many more.
There are several advantages to being an owner-operator. But, a lot of hard work and responsibility goes into owning and operating your trucking business. Therefore, weigh your options before deciding if being an owner-operator is right for you. Continue reading as Global Multi Services explains the perks of becoming an owner-operator.
The opportunity for growth as an owner-operator is endless, like most entrepreneurial opportunities. Owner-operators are generally better paid than company drivers and keep 90% of the whole rate. They control every trucking expense to maximize their profit margin and increase revenue. Working with companies that pay fuel surcharges and provide fuel discounts also increases their profit.
But owner-operators do not receive the same benefits when compared to company drivers. As an owner-operator, you are responsible for paying for maintenance and fuel. Therefore, it is essential to consider all this when selecting a freight and making decisions. You must research thoroughly to ensure going the owner-operator route is worthwhile.
One of the benefits of working as an owner-operator is it gives you a sense of freedom. You make your schedule, pick your jobs, and choose the company to work alongside. Unlike company drivers, you can accept or decline contracts. Furthermore, you can plan how much time you want to work and work on routes that involve visiting friends and family in other parts of the country.
Owning your truck also means being free from sharing it. Many trucks are not well cleaned before the next driver gets in for a haul. Facing the mess the previous driver left can be discouraging and irritating.
Being an owner-operator allows you to shop for trucks with the features that suit your needs. It gives you ultimate flexibility when it comes to your trucks. You will not be driving a hand-me-down passed from driver to driver. Instead, you are free to make upgrades or choose the basics depending on your preferences. Also, you can travel with your partner or pet without anyone having any say in the matter.
Although owning your truck may seem perfect, it comes with much higher start-up costs than the company driver route. Trucks are also an asset, and you can sell them if you choose to change careers. Are you someone who wants a top-of-the-line semi-truck? Are you looking for something more basic because you only plan on driving shorter distances? Becoming an owner-operator will give you everything you need.
Being an owner-operator is just like owning any business. It provides the flexibility to avoid inconvenient routes like high traffic areas or parts of the country with bad weather. It controls productivity, and time management, choosing what freight to haul, who to work with, and how often to work. It also allows you to decide when to take time off. Making these decisions has many advantages and can keep the owner-operators in control.
Many owner-operators start by gaining experience as a company driver before investing in their trucks. And they often pick this option because they can set their own rules. They build their business and reputation as they work with companies. However, they must work to ensure their company is as successful as possible.
TO SUM IT UP
Becoming an owner-operator brings the convenience, freedom, and independence you need.
ABOUT GLOBAL MULTI SERVICES
Global Multi Services is a truck permit company that help trucking companies apply for their permit in the United States. Our years of experience and expertise have set us apart from our competitors. Contact us today to obtain your truck permit hassle-free