Become an Owner Operator
Are you interested in owning a rig of your own and becoming independent? It can be a tough, but rewarding challenge.
Owner Operator Step 1
Do I Want to Do This?
A large percentage of individuals that take out loans or finance
their first truck end up returning it after a year, so take some
time first to examine the reality of starting your own business.
Ask yourself questions like, "Am I ready to put in long stretches
of time on the road to pay off my rig?", and, "Am I ready to endure
times of little or no pay from companies?". The truth of the matter
is that it's not easy owning your own business no matter what type
- and it's even tougher when your business is directly influenced
by factors out of your control, such as fuel costs, DOT
regulations, permit costs, insurance, etc.
Click here to learn more about getting started as an owner operator.
Additional item of interest, Hour of Service changes and how they reflect your ability to drive, how much you can drive, and regulation in general. Click her for more.
Owner Operator Step 2
Getting a lease purchase option.
If you don't quite have the money to go out and buy the truck, then a lease purchase program might be for you. In a nut shell, a lease purchase program means that you'll drive for a company and when you receive your paycheck for the miles you put in, a percentage will be cut from your check towards the truck. While lease programs are a good way to get started quickly, be careful as many programs do not cover the extra essentials you'll need in addition to your rig, such as permits and maintenance. Do your research before signing-on with a company to ensure success.
Owner Operator Step 3
Getting a Job / Load as an independent contractor
Thousands of companies hire owner operators, but which company is the right company for you?
Be Smart - Research, Refine,Respond
Take the time now to ask the important questions before taking the job. Figure out what is most important to you when working for a company and discuss those with the recruiter. A good business relationship is one that suits and aids both parties involved. It's as much about what you can do for them, as what they can do for you.
If you have additions to this section you would like to submit, please feel free to email me your thoughts or comments and together we can keep a new generation of OO's informed and motivated.