Being a truck driver can be a great way to make a living. However, for those who want more freedom than just being a driver of some company, there is another option: becoming an owner-operator. This means that you own the truck yourself and pay all the expenses associated with owning one (insurance, maintenance etc.), but you also get all the profits from your work. This can lead to higher salaries than working as an employee at some big company like Walmart or Target—but is it worth it? Let’s take a look at both sides of this question before deciding if becoming an owner-operator makes sense for you.
The pros of being an owner-operator truck driver
There are many pros to being an owner-operator. One huge benefit is that you’re in control of your schedule and can work when you want. Being an owner-operator puts you in the driver’s seat. You’ll have more flexibility than a typical truck driver who has to follow company policies and rules, sometimes resulting in longer hours on the road with no additional pay. Another benefit is that you’ll have more control over your expenses because they’re not shared with a fleet owner or carrier, so there’s little risk of unexpected expenses arising at any time during the day that would take your profits away from you (or worse, leave you owing money).
Financial Freedom
As an owner-operator, the money you earn is dependent on your own driving ability and how many miles you drive. The more miles you drive, the higher your pay will be. As opposed to company drivers who are paid by the hour, owner-operators find their own loads and negotiate their own contracts.
Owner-operators find loads in many different places, whether it’s through local carriers, load boards, or a load broker. Since it’s up to you to decide when and where to work (and therefore how much to work), there are fewer restrictions on what jobs an owner-operator can take and how much they can earn doing them. However, there are other expenses to consider like any equipment loans, gas, and maintenance fees on your truck— but as long as you’re staying busy and contracting jobs, you can make a good living.
More Respect
Being your own boss also comes with some perks. You are not a number, but rather a person with a name and a face. This makes you more respected by other drivers and the industry in general. Since you’re running your own business, you have more control over where you go and when — which means that while traditional truck drivers may need to take on longer hours, additional routes, or even work outside of driving, owner-operators usually have more time off during peak times of year for their family.
Flexible Schedule
Being an owner-operator truck driver gives you the freedom to work when and where you want. You have no boss watching over your shoulder, and there are no mandatory meetings or training sessions. As long as you get enough deliveries done to make money, there’s no minimum number of hours required every week. You can also choose to take days off whenever you want—the only downside is that if there’s an emergency, then you will have to pick up the slack at a later time to make up for the lost time.
A Sense of Purpose
Lastly, being an owner-operator truck driver can be a very rewarding career. You are your own boss and get to choose what you do each day. You also have the opportunity to make a difference in your community by delivering goods and services needed by others.
So, is being an owner-operator truck driver worth it? The answer to this question depends on what you want from your career. If you’re looking for a way to make a living while also having the freedom and flexibility to enjoy life outside of work, then becoming an owner-operator truck driver might be right for you. If you’re looking for more information on becoming an owner-operator, reach out to 5th Wheel Hub today.
