The Top 3 Questions Truck Drivers Ask About Becoming An Owner Operator
Posted: March 17, 2020
If you’ve been thinking about making the move from company driver to owner operator, USA Truck is here to help you make sure that decision is the right one for you. We know there are definite advantages to being your own boss including setting your schedule and choosing the loads and lanes you want. But this is not a choice to make lightly – you’ll want to do your homework. Here are answers to the top three questions you may have about becoming an owner operator truck driver:
Am I ready to own my own truck driving business?
Take an honest look at your financial situation, your career goals, and your personal abilities. Do you have heavy debt or high monthly bills? Getting started as an owner operator will cost some money up front so you’ll want to plan for how much you can spend and how much you need to earn to be successful. Also, evaluate how motivated you are to set and meet realistic goals while following a business plan.
Should I lease on with a carrier or operate independently?
Trucking can be a high-risk operation, especially if you’re not experienced at running a business. Some truckers value total independence over leasing onto a company, while others prefer the security of knowing they will have a more consistent base of freight from which to get loads. At USA Truck, both lease operators and owner operators can count on outstanding support, plenty of freight, and reliable pay. Plus, we have a low-cost lease purchase program that features $1,500 down payment assistance and an array of business support programs to help you run a more profitable business.
Will I make more money as an owner operator?
There is a fair amount of math involved in being a successful owner operator – you have the cost of your truck, insurance, fuel, permits, etc. USA Truck offers an Owner Operator Calculator that helps show the potential costs and profits involved in starting your own trucking business to help you make an informed decision on your future. Usually, the owner operator gets paid for many extras outlined in the contractual agreement that a company driver does not. There can be significant tax advantages and lower tax rates, especially when incorporated. You need to look closely at these factors to determine if you’ll bring home more money as an owner/lease operator or if you’re better off as a company driver.
Making the move to owner or lease operator can be both exciting and nerve-wracking. Be sure to take into account the many pros and cons that come with it but also where you want to build your truck driving business. Keep in mind USA Truck also offers solo company driver positions where you can learn our freight lanes and operating area. This allows you to gain extensive knowledge of USA Truck’s network before making your decision. Then, if you decide you do want to transition to owner operator, we can develop a plan to make it happen. USA Truck is happy to answer specific questions or address any concerns to help you before you make the big decision. Connect with us today to get started!