Is Being an Owner-Operator Right for You?
The Job Of Being An Owner- Operator
You have some good days, some amazing days that you will always remember, and some days that do it because you made a commitment and people depend on you, but you would be miserable doing any other job. You are a truck driver. Being a company driver has challenges that make any driver, brand new or seasoned veteran, think about becoming an independent. There are a few things that determine the difference between setting a realistic goal or just daydreaming.
Money, Money, Money
Abba was more right than wrong with their lyrics, "It's a rich man's world." You need to have working capital before you even consider being an independent trucker. A sizable down payment can keep truck payments manageable. Even if you opt to lease or purchase with little down payment, you will have operating expenses that company drivers do not. Successful truck drivers are able to afford to say no to loads that will not make money. A lot of drivers stay very busy as they drive themselves to bankruptcy.
If you loved numbers and reading tax law, you probably wouldn't be a truck driver. Large companies have legal teams and accounting departments to help them with critical decisions. Independent drivers must have help and knowledgeable advice on record keeping, legal issues, and structuring their business.
Good physical health
If you are unable to work due to illness, the bills start to pile up quickly. Decent health insurance for independent drivers is pricey. Conditions like diabetes, heart disease, and high blood pressure can worsen quickly when you are under the stress of owning your own business. The DOT can pull your license and your livelihood right out from under you for health reasons.
Consider your decision carefully. A lot of amazingly good truck drivers do not make good owner operators. Regardless of your decision, TruckertoTrucker is here for you with industry news and driver tips.
- Owner Operators