Itching to Move Up?

| April 07, 2005

Robert Lake
Publisher
rlake@eTrucker.com

If you’ve ever dreamed of owning your own truck, 2004 is shaping up to be the year when seemingly impossible dreams might come true. Most successful owner-operators began their trucking careers as company drivers, and our research shows that a majority of company drivers hope to one day own their own truck.

If that’s your dream, we’ve got information you need to know.

Industry experts are forecasting increased demand for owner-operators. Some major fleets like Schneider recently increased their owner-operator pay-per-mile and others plan to offer competitive packages to lure truck owners to their companies.

The predicted economic landscape includes the ideal situation of plentiful freight and tight capacity. If things continue the way the experts anticipate, drivers and owner-operators will be the beneficiaries of a tight driver supply. Now, more than ever before, companies are aggressively seeking owner-operators, and many will work with you to help you in the transition from driver to owner-operator.

How do you go from company driver to owner-operator? It’s a process that requires careful planning and detailed research. But if you are really determined to be your own boss and own your own truck, there’s plenty of information available to help you make the right decisions. Truckers News is running a new series, “How to Become an Owner-Operator.” Beginning in this issue, learn how to develop a budget, keep business and personal expenses separate and how to plan for emergencies. Upcoming topics in future issues include:

  • Finding the right company: How to compare benefit packages, understanding your compensation and evaluating lease/purchase programs.
  • Finding the right truck: Should you buy new vs. used? How to spec your truck and how much truck you can afford.
  • Credit and financing: How to improve your credit rating and evaluate financing options.
  • Insurance: What kinds of insurance you need and how to go about getting it.
  • Running your business: How to figure out your cost-per-mile, drive profitably and tackle the mountains of paperwork involved.

    So read on, the stuff of your dreams is literally right at your fingertips.

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