- As an owner operator, you need to be on track with every information that can potentially affect the trucking business
- Need to keep track of your expenses and your incomes
- Keep your eyes on the expenses that can kill your profit
- Do not have health insurance or dental insurance for you or your family members if you are owner operator
- Have to understand the economy really well to take advantage of the moment situations to increase your profit or to prevent unnecessary cost, for example if the fuel cost increase, you have to make sure that the load is profitable for you, if you don’t calculate this cost and you stay on the first load rate you won’t get a cent for your work or in the worst cases you will be forced to spend additional money from your pocket to cover the transport. When you are owner operator driving is not your only concern
- You do not need to deal with dispatchers favoritism or their mistakes
- Need to have good connections with the shippers to get enough loads – you do not have dispatcher to do this work for you remember?
- Maintain good customer relationship – you know that being owner operator you need to ensure friendly relationship with your customers. If they are happy with your service the chances to build long term relationship are huge. Happy customer – steady loads – chances for recommendation – happy owner operator
- Can take time off, without being hassled – you have all the time in the world and it is up to you to make a schedule
- Cover all the expenses for your truck on your own like:
1. Insurance
2. Truck Maintenance
3. Truck Repairs
4. Possible penalties
5. Permits
6. IFTA Taxes
