When considering a career in the trucking industry, a major choice is choosing to be a company driver or opting to be an owner operator. Company drivers are employees of a company and drive a company owned truck. They transport loads when and where the company assigns them. The drivers have little control over their work schedule. Owner operators own their trucks and sometimes the trailer as well. These drivers are self-employed business owners, and they contract to transport freight loads for others. Owner operators have more choices as to when they work and what types of loads they haul.
Of course, there are start-up costs for owner operators. They need to own or lease their truck. Many drivers start their careers gaining experience as a company driver before investing in their own truck. However, there are a number of advantages to being an owner operator.
Owner operators are self-employed. Being their own boss means that they have the freedom to choose what type of freight to haul and to which destinations. They are building their business and their reputation in the industry as they contract with various companies to transport loads.
Unlike company drivers who are assigned their jobs, owner operators control their schedules by accepting or declining contracts. The benefit of controlling the schedule can mean more time at home with family when needed. While company trucks can be rather basic, owner operators are free to customize their truck to their liking and comfort level. Many companies have rider and pet policies to leased owner operators.
Owner operators are generally better paid than company drivers. They make more money because they are taking on the risk. They typically enjoy a larger revenue percentage on each load they transport. Owner operators can maximize their profit margins by controlling their fuel costs. There is even more potential for profit when they contract with companies that pay fuel surcharges and provide fuel discounts. There are some tax savings benefits for owner operators that company drivers do not have. Business expenses such as meals away from home, other on the road expenses, license fees, interest on business loans, depreciation of the vehicle, and general expenses of running a business are tax deductible. Keeping accurate records of these expenses is essential.
Partner with Powersource Transportation
The current high demand for experienced truck drivers means plenty of work is available for owner operator drivers. Powersource Transportation is the nationwide leader in owner operator trucking. We offer compensation that exceeds the highest owner operator salaries in the industry. In addition, we offer our owner operators a bonus program based on accident free/claim free miles driven along with other driver perks. Powersource Transportation sets the standard in the highest quality of life for our owner operators.