The truck driving industry is a profitable and secure one. But there are other options aside from a typical truck driving job available, including becoming an owner operator.
Your Financial Stability
You should ideally have some sort of financial cushion before becoming an owner operator. Taking this career path is somewhat like starting your own business, which always takes some money to get off the ground and running. You’re basically in the business for yourself, which means some money should be available on the back burner. As an independent truck driver, you’ll have to be able to cover times when you are sick or when you’re not available. You’ll also need life insurance and emergency funds for a rainy day.
Your Work Ethic
As an owner operator, you’ll have to be dedicated and responsible in your line of work. Your hard work ethic will allow your investment to pay off. If your current work ethic is not focused or dedicated, you’ll have to make some adjustments first before making this career change. Those who are dedicated and determined are well suited for a career path like this.
When looking for a certain truck, be sure to keep a few things in mind, such as its age, comfort of the cab, fuel economy, and so forth. You should also consider how much the vehicle will cost, and how much it might put a dent in your profits.
Leasing or Independent
You’ll have the option to stay independent or lease your truck to a carrier, both of which have their benefits. The advantage of staying independent is that you’ve got more flexibility in the jobs you take, and you won’t have to deal with management. On the other hand, leasing has the benefit of allowing you to continue getting perks that come along with working with a company, such as gas cards, coverage for permit payments, and so forth.