If you are considering a career as a driver, you may be wondering about the benefits of working for a carrier as an owner-operator. You have the choice to work directly for a company as a driver or being an owner-operator. However, being an owner-operator has some advantages. You take risks just like owning any other business as an owner/operator. Buying a truck is a big financial decision, so it is best to understand the full range of benefits of this career choice.
Freedom of Making Your Own Decisions
One of the benefits of working for a carrier as an owner-operator is owning your own truck gives you a sense of freedom. You get to make your schedule, pick your jobs, and you have the choice of companies to work alongside with. You can start leasing to a particular carrier, which allows you some stability with work, while still having your freedom by being your own boss.
Furthermore, as an owner-operator, you can plan out how much time you want to work. For instance, you can work around family obligations or health considerations to abide by. Having a work and life balance is a lot easier when you plan your schedule. You can work on routes that involve visiting friends and family in other parts of the country, or even take a side trip to see something new. If you are highly motivated and want to earn as much as possible, you can set your sights on building up a bank account.
Owning your own truck also means you are free from having to share it. Often times vehicles aren’t cleaned before the next driver gets in for a haul, having to face whatever mess the previous driver left. However, you get to avoid the hassle by owning your own, because you always know what to expect when you are in the driver’s seat.
Negotiating Rates and Planning Hauls
If you have some experience driving a truck, you understand how to figure out the cost per mile and the load times. The more knowledge you have with driving, the better you can demand the right price for the job you agree to haul. As an owner-operator, you have the freedom to position yourself for the next haul, so you can plan a series of hauls that suit your needs. Owner-operators often are paid a better per-mile rate compared to company drivers.
The Tax Savings For An Owner/Operator
There are many tax savings benefit for owner-operators. For instance, per diem costs for meals and other travel expenses are available. Business-related expenses such as bank fees, maintenance, and even depreciating property also help owner-operators out at tax time. Essentially, any expense related to running your trucking business is
tax-deductible, so careful records are essential. If you lease your truck, your lease payments are deductible, as well.
Having a Sense of Pride Owning Your Own
Furthermore, there is a sense of pride in accomplishing the challenge of becoming an owner-operator. This career path is a financial and personal investment that allows you to build confidence and run your business.
Since you own your truck, you are responsible for all the expenses. If it breaks down or needs fuel, you must handle it. While that may seem like a chore to invest so much time in a truck, there is pride in this business. After all, your investment gives you choice and opportunity.
The Demand for Drivers Is High
There is a demand for drivers right now due to a shortage of qualified drivers in the industry. This is significant because truck drivers practically move all food and retail items. As the driver shortage worsens, shipping rates continue to climb. With the available job security due to this demand, this is a great time to become an owner-operator and build your trucking business.
Working as an Independent Contractor (Owner Operator) for FCC is the perfect way to take your business to the next level. We offer consistent freight, regular home time, and an excellent pay package! More miles, more money, more opportunities – that’s exactly what you’ll get at FCC! Contact us today!