For those who want to get involved in the transportation industry, becoming an owner-operator might be the best career move. Why? Well, because this improves your situation within the industry, increases your income, gives you more power and more options to choose from. Every single one of these reasons would be big enough to persuade you but if you’re still not convinced, here is a brief breakdown of some of the most important benefits of becoming an owner-operator.
There’s plenty of work
The first benefit of being an owner-operator is the fact that you get numerous new options to consider. For instance, you can either work for the same company or change jobs. The truth is that the demand for owner-operators or seasoned drivers, in general, is so high that you won’t have trouble finding work regardless of where you turn. Needless to say, this gives you the freedom to act with more dignity and integrity. With so many options around, you won’t have to put up with conditions that don’t fit you for too long. Instead, you’ll just be willing to go elsewhere with your vehicle.
Flexible business model
Another thing that you get to benefit from is the fact that you decide what, when and how to haul. Due to the fact that you’re an owner-operator, you’re virtually running a one-person enterprise. This means that you’re an entrepreneur (of sorts). Other than this, you’re not directly controlled or ordered by a fleet manager and the company that you work for doesn’t have the right to install a speeder limit inside of your vehicle. This last part is not necessarily a plus but it definitely gives you more freedom to customize your routes.
A truck is an asset
The most important thing you need to understand is the fact that a truck is an asset and once you buy it you get new options that you didn’t have before. Still, just because you’ve made a purchase this doesn’t mean that you’ve immobilized your liquid assets for good. There are a lot of platforms that specialize in trucks for sale, which will be a major boon to your purchasing options. Other than this, if you change your mind, you can use a similar platform to sell the vehicle. Provided that you’ve used the truck to create profit, you will make up for the depreciation of the vehicle’s value and get your money back.
The simplest way to move up on this career path
One more thing worth considering is the fact that this gives you a chance to move up on a career path in the simplest manner. Other than this, it’s a manner that you alone get to control. Think about it, when someone else is in charge of your promotion or lateral movement, you might not get the promotion even when you’re more than due. On the other hand, by being the one in charge of your own advancement, you’ll get a treatment that’s much more fair and reliable. Overall, it’s a situation that works heavily in your favor.
A chance to pivot
You don’t have to work in the transportation industry in order to benefit from owning your own truck. Once you get bored with the industry, you can pivot into something else. For instance, you could consider starting a moving company. Just don’t assume that your experience in the transportation industry will translate completely. At the very least, you can hire your truck (and you as a driver) to those who are moving. In fact, as far as the statistics of the moving industry go, the majority of people don’t even hire professional movers. A large portion of them, however, do hire a truck to transport their furniture.
A chance to earn more money
Whatever you decide to do with your truck, you need to keep in mind that your profit will be bigger than if you were on a salary. Your expenses, however, will be somewhat greater, as well. The repairs and upgrades on the vehicle will be your responsibility, which is why the statement that being an owner-operator means running your own business is more than true. You have your income and your expenses, which means that balancing between the two is what will determine your profit.
As you can see, there’s no real downside to becoming an owner-operator. What you get from this is the ability to improve your status and make more money. Moreover, you can always change the industry, sell your truck or use it for private purposes. Either way, it’s a win-win scenario.
If you want to learn how to become an owner-operator, check out the article “How to Start a Trucking Company“.