Income Difference Between A Good Company Driver And One Truck Owner Operator.
Most people starting out in the trucking industry asking themselves if they would be better off being a company owner operator instead of being a company driver. Having the freedom of owning your own truck and getting your own truck loads is exciting and can be very rewarding. Being a company driver can be just as rewarding if your driving for the right company who cares about their truck driver and pays them worth their experience. Being able to drive and not worry about the Federal regulations of owning a trucking company and also not worrying about the maintenance of the equipment is a good reason many truck drivers prefer to be company truck drivers.
I have taken some time and thought over the last 10 years speaking with hundreds of drivers and owner operators and I believe that being both can be just as rewarding and starting as a company driver while building your trucking company at the same time is my top choice of growing into the industry as a logistical entrepreneur.
Below is a list of the best reasons of why you should be an over the road company driver.
Company Drivers can have a team foundation beneath them keeping their freight consistent. Which results in better pay.
Company Drivers do not have to worry about the cost of maintenance. Which is half of your profits on a one truck ownership.
Company drivers receive benefits if they choose a good smaller trucking company.
Company drivers can feel safe with knowing they have long term security while working with their team company.
Company drivers can earn between $1200 dollars to $1800 dollars a week clear profit for their time driving.
Company drivers get to learn logistics safely while they develop their business plan for the future.
Company drivers can purchase their first truck while driving with a small trucking company.
There many more reason why being a company truck driver can benefit the person but for me I think the most important aspect is, it gives a person a solid foundation to purchase more trucks while earning a solid pay with driving. The trucks you purchase over a time period that are brand new, could be moving freight leased onto where you are working as a company driver. The drivers will be easy for you to find since your on the road networking with other great drivers. This entire situation allows a person to keep a solid income which the banks do appreciate, while investing into a very expensive piece of equipment and keeping freight in the back of the truck.
Many company drivers turn to Logistical Forwarding Solutions for these consulting services to help individuals find the reality of doing just as we wrote above about. A company driver who is secure in moving freight with their trucking company family, can find new lanes that would support the equipment he or she purchases. You would lease the truck onto your boss company for a percentage and the company you work for is making a small profit as well. This type of relationship can go far and it strengthens not only your company you work as a truck driver, but it also lays the foundation for a person to own equipment safely and productive.
Below is a list of the cost of owning your own truck and driving it as an owner operator.
You must be responsible with corporate filings and taxes 100 monthly cost
A truck owner pays their own insurance premium based off their credit and driving record. Up to $2000 dollars for truck and trailer monthly.
Company Owners of trucks must pay IFTA and IRP Fees $200.00 monthly for small company.
Trucking Owners Pay 3% for funding and invoice fees $500.00 monthly