So, you’ve started thinking about becoming a truck driver. You want to earn your Commercial Driving License (CDL), that’s a given, but what else have you thought about for your career as it progresses down the road? Have you ever thought about becoming an owner and operator?
There are several benefits to taking this career path. Some of these include a certain degree of independence, a greater income, personal success, and the possibility of eventually owning your own shipping company.
If you work hard and do right, it can turn into your version of the American Dream. You work for yourself without a ceiling for how high you can rise in your field. What could be more perfect?
But is it something you really want to do? Because it can be tough. Here are five things to consider when deciding if an owner/operator direction is right for you:
- Moving into an owner/operator role is a big commitment and a substantial risk. It includes paying for your own truck – which is within the $100,000 range – not including all of the maintenance and insurance required in owning it.
- In this role, you will have to work a lot of hours. Not all of them will be driving hours because this role is much wider reaching than at the truck driving level. Since you are the owner, you’re the one doing all of the work, until you become successful and can hire more people.
- Being an owner/operator means that you have to worry about the business side of the job. It can be fun for some people, but you have to make sure that you like that part of it. It takes a lot of commitment to lock down that side of the job.
- We mentioned the cost of the truck that is required for this role. There are also a lot of hidden costs that can be impossible to fully predict. Taxes come into play and a lot of your money will be tied up in the cost of the truck. So make sure that you have the money to go down this path.
- Incorporating yourself may be a good way to limit your financial liability if something unforeseen happens. Though this is another cost, it may be a protection that you can’t afford to put off.
Even with all of the challenges associated with being an owner/operator in the trucking industry, it can be very rewarding! Be sure to consider all aspects of this choice when deciding where your career should go. It’s a bold move, but bold moves can pay off.
At United Truck Driving School, we are excited to offer Class A + Passenger endorsement, Class A, and Class B + Passenger endorsement CDL training. Truck driving is in HIGH demand. The time is now for those interested in completing their CDL training. Contact us today for more information.