Owner-operator truck drivers are self-employed subcontractors with their own trucks that work independently for one company or several. The truckers may also purchase or lease more vehicles and hire other drivers to haul for them.
Becoming an owner-operator in the trucking industry has its advantages and disadvantages, just like ownership in any other business. For those who have the proper licensure and enjoy the truck driving profession, becoming an owner-operator may be the next logical step.
Here are 4 reasons to be a truck owner-operator:
After years of driving a truck over long-haul or short-haul trips, each driver gains a great amount of skill and knowledge. This experience can add up to valuable resources for others, especially clients that are seeking someone reliable to do their trucking deliveries. As someone who has been in the business for years, an owner-operator will know what to expect from delivery trips and already understands the many rules and regulations associated with the trade.
As owner-operators, experienced truck drivers can buy semi truck and trailer set-ups or look at semi trucks for sale to get their businesses going. This is an investment in themselves and in their futures. After working with manufacturers and dealers to transport goods wherever they are needed, these entrepreneurs will begin to get steady work and bring in a profit. Having their own truck or investing in one makes them eligible for owner-operator financing.
With the current state of the economy, many larger companies are laying off employees due to poor money management or lack of sustainable contracts due to client or contract problems. High overhead or lack of stability is causing a reduction in force, but the need for productivity is rising. While the trucking companies may not be able to sustain employees, the work is out there. Goods still need to be transported back and forth between clients and sales destinations.
By having employment as owner-operators, truck drivers can rely on themselves for work. Especially for those who were laid off, this can bring forth a promising alternative. By working with truck financing companies that provide owner-operator financing, truck drivers are able to get back to work as self-employed entrepreneurs.
In the trucking industry, most employers require their truck drivers to have a minimum of 12 months of experience before allowing them to get behind the wheel for them. Even the best rookie driver coming out of school will have difficulty finding a job in this economy, when so many other truck drivers with experience are competing for jobs as well. An alternative to finding employment with someone else is to become self-employed as an owner-operator. This solves the issue of gaining experience and finding employment in their field at the same time.