For truck drivers who really want to control where they haul to and for whom, being an owner operator may be an aspiration to work towards. For these drivers, they own their own truck and equipment and hire themselves out to carriers for their services, cutting out the middleman. Although there is freedom in being your own boss, there are also many more responsibilities that come with it.
Pros Of Being An Owner Operator
Just like any business, being an owner operator in the trucking business has its rewards. You can choose when and how much you work, where you haul to and who you haul for. All earnings you make are yours, without having someone taking their cut before you get paid. Many enjoy the challenge of running their own business and start with just their own truck then get to the point of running a fleet of trucks and drivers.
Cons Of Being An Owner Operator
While you may get to keep all the profit, as an owner you also have all the expenses. When the truck inevitably breaks down, you not only have to pay to have it fixed, you are not making any money while it is down. There are also accounting, licensing and other parts of running a business that are now your responsibility. Not everybody wants the financial and administrative headaches that can come with ownership and many choose to work for someone else.
Most owner operators spend time as hired or leased drivers before they go out on their own. For many, it is the natural progression of their driving careers, but it is not the choice for everyone.