How to Become an Owner Operator Truck Driver
There are a few routes you can take on how to become an owner operator truck driver. The most common way is to purchase an existing trucking company, but there are other options such as starting your own trucking company or purchasing a truck and becoming a leased operator.
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No matter which path you choose, there are a few key things you will need to do in order to be a successful owner operator truck driver, and Value Truck is here to help. We have put together a few key steps on how to be an owner operator truck driver.
What Is an Owner Operator Truck Driver?
An owner operator truck driver is a business owner who operates their own business in the trucking industry. They may lease their truck to a larger carrier, or operate as an independent owner operator. Owner operators are responsible for all aspects of their business, from regulatory compliance to marketing and maintenance.
What Are the Benefits of a Successful Owner Operator Truck Driver?
There are many benefits of becoming an owner operator truck driver. As your own boss, you have the freedom to choose your own loads, routes, and schedules. Aside from these, some of the key advantages of becoming an owner operator truck driver are listed below.
1. You can make more money
As an owner operator, you are paid a percentage of the load rate instead of an hourly rate, which will greatly help your financial situation. This means that the harder you work, the more you earn from your own operator company driver. In addition, you can also get access to higher-paying load boards by working with direct shippers or negotiating your own company driver rates.
2. You have more control over your work schedule
As an owner operator, you can choose when and for how long you want to work. This flexibility is great for those who want to spend more time with their family or take extended vacations as you have full access to your owner operator jobs.
3. You can choose your own loads
When you are an owner operator, you have the power to choose your own truck loads. This allows you to pick the jobs or a truck deal that you are interested in and that fits with your trucking operations.
4. You have less stress
Becoming an owner operator is automatically becoming your own boss. With this, you do not have to worry about someone else dictating your work life or business operations. This can lead to less stress and a more relaxed work environment unlike when working with different owner operators.
How Do I Become an Owner Operator Truck Driver?
How to become an owner operator truck driver? Here are a few key steps you need to take in order to become a successful owner operator.
1. Get your Commercial Driver’s License (CDL)
In order to legally drive a commercial vehicle, you will need to obtain a CDL. The process of getting your CDL may vary depending on your state, but in general, you will need to complete a written test and a practical driving exam just like any other owner operators.
2. Invest in yourself
As an owner operator, you will be your own boss. This means that you will need to invest in yourself and your own business. You may need to take courses on trucking regulations, truck maintenance, vehicle insurance, safety, or business management.
3. Find a truck
In order to become an owner operator, you will need to find a new or used truck. This may be easier if you already have experience driving commercial vehicles. You can search for trucks online, ask some owner operators, or through dealerships with company drivers of truck.
4. Secure financing
Purchasing company drivers for the trucking industry as an owner operator can be expensive, so you will likely need to secure financing. There are a variety of options available, such as loans, grants, and private investors of owner operators.
5. Get insured
As an owner operator, you will need to get health and truck insurance. This includes liability insurance, cargo insurance, and physical damage insurance of your own truck.
6. Start operating
Once you have completed all of the necessary steps with complete truck insurance, you can start operating your trucking business as a new owner operator. This includes marketing your business, finding customers, and hauling loads.
7. Stay compliant with regulations
As an owner operator, you will need to stay up-to-date not just on the trucking equipment and operational costs, but also with all applicable trucking regulations. These regulations may vary depending on the type of trucking business you operate.
How Can Value Truck Help Owner Operator Truck Drivers?
Value Truck is a leading provider of trucking software and services. We offer a variety of tools and resources to help owner operators succeed in their business.
Our products include GPS tracking, load matching, and regulatory compliance tools. In addition, we offer a variety of training courses and resources to help you stay up-to-date with the latest trucking regulations as you explore your new business as an owner operator.
Conclusion
Becoming an owner operator truck driver can be a challenging but rewarding experience. If you are interested in how to become an owner operator truck driver, Value Truck can help. If you like the idea of becoming an owner operator truck driver, but you don’t want to manage all of these things, let Value Truck manage them for you. Contact us to learn about how you can partner with us.
We also have a variety of resources that can assist you with starting your own trucking company. Contact us today to learn more.