Top 5 reasons to own a trucking company
June 08, 2020
If you are reading this article, there’s a good chance you’re a company driver who has been toying with the idea of becoming an owner-operator. Maybe you just need a bit more information before you make the move.
Although owning your own trucking business seems appealing, it may not be for everyone. Check out our five reasons to own a trucking company and see if they align with your own.
Reasons to own a trucking company:
1. You want an opportunity to earn more revenue.
Many people who are considering owning a semi-truck think it’s a sure-thing that they will make more money by running their own business versus working as a company driver.
Because there is no maximum on how much you can make as an owner-operator, your earnings can vary significantly based on your business model. In order to make a great living as an owner-operator, it’s vital to have a solid business plan and find ways to save money on operating costs.
2. You want to create your own schedule.
The beauty of owning a trucking company is having the ability to get home when you want. Because you pick how you are going to get your loads, you also decide how often you are going to get home.
Having this freedom is beneficial not only for you, but also for your family. As an owner-operator, the power is in your hands to get home for important events and commitments.
3. You feel stagnant as a company driver.
Another reason to own a trucking company is that you need a change of pace. Maybe you’ve been a company driver for 10 years and are ready for a new challenge. Owning a trucking business is a way to stay in the industry you love but in a new role with a lot more responsibility.
4. You are interested in starting a business with a friend.
Many owner-operators decide to start their business with their spouse, friend or family member. Being a team owner-operator has its advantages, like being able to run more miles which leads to making more money.
At Schneider, team owner-operators can average more than $235,000 annually or $800-1,000 per day in revenue.
5. You want more freedom.
Simply put, you’re your own boss as an owner-operator. You pick your loads, decide who you want to lease-on with, make your own business decisions, etc. These are all things business owners love.
But, with all this freedom, comes a lot of responsibility. If your truck breaks down, you are in charge of the repair bill. You have to pay the costs of fuel and the taxes that come with being a business owner.
It’s up you to decide if you are ready for the responsibility that comes with owning a trucking company.