Vital Things to Know for a Newbie Owner Operators
Being an owner operator means that you are a business owner know. A lot of things come up that may be hard to do or understand from the beginning. However, as you gain experience as an independent contractor, those affairs become a workday routine.
We are here to help you to overcome the first challenges that occur at the start. Here are some things you should know and realize if you are a freshman owner operator.
You are a Business Owner Now
First thing first, you are a business person and should maintain it, while driving becomes just a small piece of the puzzle. Saying that you are responsible for all. Schedule, finance managing, establishing relationships with potential clients, truck maintenance, etc.
Being an owner operator opens a lot of doors. On the other hand, you are granted with a load of responsibilities. If you accept it and learn how to deal with them, you will become a pro driver.
Know the Cost of Truck Repair
It is obvious that you will need truck repair sooner or later. The important thing here is to never assume smaller expenses. Here is the list of things that can be included in a repair price:
- Downtime
- Required part cost
- Repair cost itself
- Truck payments
Know the Cost of the Fuel
Saving fuel is an essential thing to do. There are a lot of tips that help improve ‘miles per gallon’ for your truck. You better learn and remember them.
Maintaining efficient speed and not going fast may save you a good chunk of money.
Paperwork
Papers, bills, taxes, and even more papers. Routine paperwork is not something you would love to do, but you must do them.
The best way to get rid of them and, at the same time, having them filled is to hire an accountant. Many business owners do that. Why wouldn’t you do that as well?
Money Management
Money rules the world. Proper money management is essential to success in the first year. Calculate your expenses and save as much as possible. Choose the right insurance plan, buy a fuel-efficient truck, plan your future repairs.
Buy a Used Truck
When buying your first truck, consider looking for a used variant before going for a new rig.
Purchase a truck from a reliable brand with a good reputation. Check the mileage and choose the one that can pay off and help you to gain some cash and experience.
Communication and Networking
Creating your own business network is vital. It will help you to build your name and establish a strong relationship with brokers and shippers.
Choose the freight that you enjoy hauling the most and go for it. Be kind and maintain a good connection with previous clients so they’ll consider working with you again.
Jobs for Owner Operators
As one of the variables, you can choose to work with a trucking company as a business partner. Owner Operator Land can give you this chance. We cooperate with numerous trucking companies that are gladly working with owner operators. They provide regular loads and high percentage pay.
If you are interested in such an opportunity, feel free to contact us for more info.
