Pros and Cons of Being an Owner-Operator

Advanced logistics industry introduces all participants in the transportation process to a wide spectrum of opportunities. Literally, the drivers of the logistics system, truckers have a lavish assortment of tools and options to monetize their skills more easily and pleasurably.

Truckers are utterly free to choose between getting a full-time job at a big-name company or following the career of an independent, self-employed driver, becoming owner-operators. Each of the two options features both pros and cons, which often leaves drivers unable to get their head around which way to go.

That said, we have gained some good insight into the low-down of an owner-operator’s occupation.
Here we go, then – the pros and cons of being an owner-operator!

Pros

Independence
Free from being part of a company and working based on the employer’s rules, owner-operators are also free to run a business the way they want it. Drivers of this category are also able to be fastidious about what vendors and clients to work with. Another big advantage of being your own boss is the management and organization of the workload – making the decisions you want and how you want helps maintain proper work balance and conduct the operations more efficiently.

However, the biggest perk of being an independent owner-operator remains to be the profit – drivers grab the 90% of the profits all to themselves, which they can distribute for their professional and personal needs.

Flexibility
Working as self-employed drivers allows truckers to operate on their own terms: they can develop the schedule to their liking, accept the orders they want, and make other key decisions within the scope of their independent employment. This makes their work routine flexible and easy to adapt to their individual preferences.

Profitability
Owner-operators can make much more than drivers working for a logistics company – they can choose loads that pay better. Owner-operators own the truck and own their schedule, which allows them to ultimately receive a bigger profit.

Growth opportunities
It’s common among owner-operators to purchase more trucks and hire more drivers. As a result, they get their own fleet of trucks, expanding their businesses growing into much more than being just an owner-operator. Eventually, such drivers abandon driving and instead, get behind the wheel of managing their fleet and making arrangements with logistics companies.

Cons

Increased responsibility
Being an independent driver comes with some drawbacks, as well. This occupation requires you to be exceptionally prudent and sensible; it holds you accountable for any major or minor glitch that may happen.

Emotional challenges
This con stems directly from the previously mentioned adverse factor – held responsible for transportation and having to keep everything under control by yourself, you are not likely to let stress walk past you. This suggests that to be a well-performing owner-operator, you’ve got to have strong emotional intelligence and know how not to lose your grip when things are all over the place.

It’s costly
Establishing yourself as an owner-operator is not cheap. As you step on the path of starting up your trucking business, you have to brace yourself up for a number of big expenses.
But what comes out is definitely worth the splurge!

In a Nutshell
Now that you are equipped with the relevant facts about the owner-operator “to-be-or-not-to-be,” the question goes to you only. In the end, it’s up to you to choose what you want to be in the transportation business and who you’d like to become after you’ve made your long and exciting journey down the road.