How Profitable Owner Operator Job Really Is

Discover How Profitable Owner Operator Job Really Is?

How to become owner operator

You can’t be a professional hiker without a backpack and of course, you cannot be an owner operator without your own truck. One of the conditions to write your own story as an owner operator is to have your own wheels.

What choice do I have when is time to buy a truck? You have three options

  • To buy a truck
  • To lease a truck
  • To rent a truck

How Profitable Owner Operator Job Really Is 5Source: www.truckerslogic.com

Buying a Truck – It is a best possible option because you have something that is yours, something that can bring you money at any time. How? Easy … you do not want to be owner operator anymore, sell it and make return of your investment.

Leasing a Truck – Second best option, if you have to lease a truck you have to wait for some time to become your property, to be more specific you need to wait until the lease is complete and then you can do whatever you want with it, you are owner operator with your own truck now.

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Renting a Truck – If you choose to rent a truck you will make your biggest mistake of your owner operator history. Now I will tell you why! With the first two options you will get your own truck sooner or later, but with renting you will never have that opportunity. Do you want to drive rented car for your whole life? I don’t.

If you choose to buy your own truck you have two options

  • To buy a new truck or
  • To buy used truck

What is the right choice? When you are starting a business as an owner operator and you have a short pocket, my advice is to buy a used truck but in great condition.

Many truck drivers are in the trucking business for a long time, they have steady incomes and they want from time to time to replace the old truck with a new one. Here is your chance to buy a truck that will be a good fit for you to make the start.

  • Compare the electronic engine odometer with the one on the dashboard. Take the truck to a reliable service to hook up computer to check the real mileage of the truck, in case the miles are turned back
  • Buy a truck that is in perfect condition to spare additional cost
  • Buy a truck that is properly maintained

How Profitable Owner Operator Job Really Is 6Source: www. weststreetservicenter.com

I know that trucks are like toys but for grownups and that is why i will give you one special advice: do not spend more money to make your truck more beautiful.

You do not make money with the beauty of the truck, you make money with the functionality, just find the truck that will serve you well and for the start it is enough.

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Remember, you need to have an amount of money to cover your 2-3 months before you start to actually earn real money as an owner operator.

Be aware that some of your clients may not pay you on time, do not put yourself at risk if you don’t need to.

Save your money for real expenses, be safe for a few months and trust me you will thank me for that.

What money you can make as owner operator?

There is a difference between being a company truck driver and being an owner operator when it comes to the earnings. Many of the company truck drivers are becoming owner operators to increase their incomes.

I mention before that when you are on your own are you collecting 100% of the gross revenue but you also have to cover all of your expenses. So … How much money can you make as owner operator excluding the expenses?

How Profitable Owner Operator Job Really Is 7Source: www.truckerclassifieds.com

  • Calculations are that average owner operator makes average $100,000 per year
  • The best owner operators make $150,000 per year

Differences that we are detecting here are because every truck driver has different skills to manage the cost, routes, and expenses altogether. If you find a way to cut the expenses that are killing your profit it is normal to increase your annual gross profit.

Conclusion

Being an owner operator can be your best decision ever! But if you are not ready to swim in the river don’t go there in the first place; there is a chance to lose your control and drown.

When you are starting your own path I advise you to have a previous experience in the trucking industry to feel the beauty of being owner operator. Your experience should not be Tabula Rasa, when your move is ALL IN, you better gather every experience you can.

Knowing the rules of the game will give you full view of the advantages and disadvantages and will teach you to make the right choices. You can always drive few years under a trucking company and gather the experience and learn your options, before you start as an owner operator.

If you are prepared to jump in the business without your own experience, make sure that you learn from others. Read blogs, books, talk to other owner operators and be open to every advice and suggestion.

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