There are numerous benefits of being a truck driver and working for a reputable truck company. But, there are also benefits in getting involved in owner operator truck jobs, by buying and driving your own truck, and basically becoming your own boss.
The combination of leasing your services and your rig to a big company and being on a contract offers plenty of options and flexibility. Depending on the terms of your contract and agreement, as well as its course, you will still have great control over your routes and loads. You will also have much less hassle in trying to manage clients or book loads while being on the road and trying to stay on top of your advertising and marketing efforts. Even though this can be the best of both worlds, not every single driver is a perfect match for it.
A big decision
Moving from a truck driver employee to being an operator and rig owner yourself is a big decision, one that should not be brought lightly. Before taking this route, you should consider a number of factors, some of which include the initial expenses of your rig, insurance policies and the costs of starting up a business.
Many of those, who would like to start their own truck business, want to start with a brand new trailer rig. However, that is hardly achievable. This especially holds true for those who are middle-income earners and who already have to contend with the expenses of daily living. Remember that a rig can cost as much as a small house. Additionally, you will have a hard time finding the lenders to back you, so think carefully before you act.
One of the biggest challenges of being an owner operator involves facing the competition in the form of large, established trucking companies. These can include big multistate enterprises or small, family-owned businesses, who already maintaining strong relationships with big fleet companies. Finding work with these on the same market can be a daunting task
Pricing and profit
Another challenge involves the issues of pricing and making an actual profit. Always remember that big trucking companies get massive discounts when it comes to the fuel, maintenance, and repairs, which allow them to offer their services at much lower prices than other, smaller businesses. And in this day and age. Those who offer cheap services, usually end up on top.
Small or new trucking endeavors, on the other hand, do not get the same treatments and breaks on their business running costs. This means that, in order to offer competitive pricing with bigger companies, they have to cut into their own profits. These cuts are only possible if they allow you to pay for the costs of running your business and compensate for the time you spend behind the wheel.
Finding good opportunities also involves hiring someone or spending your time, in order to go out and advertise your services. Here, you have to find your target audience, which will consist of companies that you want to work with, and aggressively advertise your services to them. To do this, you will have to prove that your services are better than others’ and that usually implies faster deliveries, lower prices and a number of other perks.
Becoming an owner-operator is a big decision that requires a lot of planning and thinking. If you think you have all that it takes, you can easily transform your small starting business into a great and reputable truck driving company.