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A Company Truck Driver versus Owner Operator
Moving Information > Company Truck Driver vs Owner Operator
A Company Truck Driver versus Owner Operator
You might be scratching your head to decide to be a
company truck driver or an owner-operator (O/O) in the
trucking industry? The world is full of suggestions but it
should be your sole mind to decide what is better for
you and decisions cannot be taken without
understanding all sides of each trucking career in detail.
Here, we will detail the pros and cons of owner operator
trucking job and company truck driver job to help you to
decide what is better for.
Owner Operator (O/O)
Owner Operator truck driver means a self-employed
commercial truck driver or a small trucking business that
operates trucks to transport freights. Majority of O/Os
have their own trucks where as some own a small fleet
of trucks. Some Owner Operators have their own
authority, while others lease their trucks and services to
some trucking company.
It is to be kept in mind that to be successful as Owner
Operators you need hard work, skill, ingenuity, energy
and most of all intelligence to keep updated with all the
federal and state rules, regulations and laws. Moreover,
you should always remember that the total revenue
generated from your trucks is not the ultimate profit,
true profit is the amount left after paying all of your
overheads, including paying yourself a compensation
and benefits package.
If you think that being an Owner Operator is as simple
as buying a truck and heading out to open roads to
meet your financial goals then you are absolutely
mistaken. To be a successful O/O you should always
have an experience as a trucker for at least two years in trucking industry. This job experience will be very helpful
for you to become a successful Owner Operator. You
should also consider purchasing the truck outright or get a loan from a bank or leasing company
then to get involved in a lease-purchase program
through a trucking company. And it is better to charge
per mile because the more you make per mile, the less
running you have to do to earn profits. The owner
operator typically has to pay higher rates on insurance
due to smaller size than most larger companies, meaning they have to charge more to balance the cost.
No wonder, to be an Owner Operator you have to look
after everything like health insurance, 401k programs,
trucks' maintenance, costs of rising fuel price, etc. and
sometimes may bring home lesser profits than a
company truck driver. So, if Owner Operators do not
(generally) make more take-home income than company
drivers then why become one? It's the temptation of
freedom, freedom of choice, quality family time,
sometimes bigger profits, etc.
Company Truck Divers
Company truck drivers mean truckers who earn living by driving trucks for a trucking company. They drive company's trucks to deliver the freights and get paid for their services.
Working for a good trucking company benefits the truckers with better advantages.
Fortunately, today the truck drivers' salary is pretty handsome and they enjoy various facilities of insurances, 401k programs, no tension of fuel taxes, etc. But their job is stressful and have to live far away from the family.
Conclusion
You have read about both the options of being a company truck driver or Owner Operator. We have put forward the details of both types of trucking careers, each has its own benefits and short comings. If you love to be a man of your will and ready to bear risks then opt to be an Owner Operator and if you want to play very safe and would not mind killing your small little happiness in the course of your trucking job then company truck driver job is suitable for you.
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