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The Ups and Downs of Independent Trucking
Most truck drivers work for freight companies who own the vehicles they operate; according to the US Department of Labor, only about 9% of our nation’s truckers are independent drivers who own their own trucks. There are significant challenges involved in striking out on your own as a trucker, which may explain why it is relatively rare. However, for many owner-operators who love their jobs, the downsides are worth it.
The Bad News
Independent truck drivers have reported many different struggles related to their jobs; no one claims it is an easy way to earn a living. Some potential problems that you may come across if you pursue this career include:
- Lack of assistance. If you join a trucking company, they will likely provide training and may even help you earn your commercial drivers’ license if you do not already have one. If you choose to go into business on your own, you will not have this same level of support. If you do not already have experience driving a truck, it may be best to work for a company at first.
- Financial obstacles. Starting up a business is never cheap, especially if one of your business expenses is a semi truck. In addition to startup costs like a vehicle and routine legal fees, you will also have many ongoing expenses. Your biggest cost is likely to be gasoline.
Of course, working as an owner-operator has its upsides as well.
The Good News
For independent truck drivers, some of the biggest attractions of the job include:
- A reliable income. The average independent truck driver currently earns around $42,000 per year. Of course, this number can vary greatly, especially in uncertain economic times. Many people have done very well financially as owner-operators, however.
- Freedom. This is probably the biggest draw for truckers. As an owner-operator, you would be free to make your own choices about how your business is run, what kind of hours you will drive, what you will charge, and more. For people with the motivation and skill required to successfully manage a company, this can be the best choice.
As you can see, there are a lot of factors to consider. Each needs to be weighed carefully before you make the commitment of starting an independent contractor career.
Contact a Trucking Factor
TBS Factoring Services, LLC works with trucking companies and independent drivers alike. Contact our truck factoring agents today at 1-800-207-7661.
