What’s Better? Being a Company Driver or a Truck Owner-Operator?

Do you love driving? Are you a good business person? Then being a trucking owner-operator can be an excellent choice for your career.

The Flexibility Factor

There is no question being an owner-operator provides you with greater flexibility in your schedule. There is no company dolling out a weekly route. You choose, and it’s alluring. Plus, owner-operators have a higher earning potential.

However, be aware that you have to build your knowledge base in preparation for taking this step, including:

  • Mechanical know-how
  • Bookkeeping
  • Order tracking
  • Spreadsheets for client intel
  • Necessary insurance
  • DOT Regulations
  • Licensure
  • Marketing

Don’t let the list deter you. Our company can help you get started. At REY Logistics (Southampton, PA) we have an innovative program for owner-operators as a group. As a result, you retain your ability to set your schedule while having the backup of experienced professionals, including a 24-7 dispatcher. Rey Logistics also has options for an insurance program and fuel discounts! In other words, you can work smarter, not harder.  

Mindful Preparation

There are some essential steps you should take to set a sound foundation for your owner-operator business.

  1. Plan Ahead: In your first year of operation, you should endeavor to get as much business as possible, which means looking forward and making sure you can dedicate that time. This not only provides you with a client base but offsets some of your starting costs.
  2. Do Your Research: You will need an LLC license and a DOT number, for example. You want to avoid missing things that could create fines down the road.
  3. Look at Your Bottom Line: It may take you a while to save up for permits, insurance, office supplies, etc. This is all part of your overhead costs. You can consider a business loan to help take the initial steps. 
  4. Buy Smart: You may not be able to buy top of the line, but get the best you can within your budget. For example, new vehicles generally decrease the amount of money you have to spend in the future vs. a used, older truck. 
  5. What’s Your Target Market: There are many options in the types of trucking gigs you can get, and what you choose impacts your choice of vehicles. For example, if you are transporting food, you want a refrigerated trailer. Also, your region impacts the type of services for which people are looking.
  6. Set a Schedule: Having a dependable schedule helps your clients. Also, consider how much wiggle room you have. Can you accommodate requests outside that set timeframe?
  7. Network, Network, Network: Reach out to trucking industry professionals at REY Logistics. We can give you insights and tips. Like any industry, keeping abreast of the changes going on in the Trucking world prove invaluable to your success. REY Logistics has created a community of seasoned, enthusiastic professionals ready to help you.

Guide for Small Business Development

Take a moment to visit the US Small Business Administrations site. They have a Business Guide page, which is helpful. At the end of the day, you will see a greater return and have more freedom as a truck owner-operator, especially if you’ve driven for five years or more. Think it over. Talk to truckers. See what’s right for you.

Also, remember you don’t have to go it alone. REY Logistics is here for you, keeping your efforts hassle-free. You can email us, or call 215-330-2256 for more information. Since we offer a visual orientation, you can be on the road and working within 48 hours.

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