Are you a commercial truck driver? Have you been thinking about making the switch from a traditional driver to an owner operator? If so, it is important that you take the time to consider both the good and the bad aspects of operating your own commercial trucking business.
There are many benefits that are associated with being the owner operator of a commercial trucking business. These benefits include:
- Schedule Flexibility - When you choose to become the owner operator of your own commercial trucking business, you will be able to choose which jobs you wish to take, and what type of turnaround you are willing to offer on each of these jobs. Consequently, you will able to control how often you work and for how long.
- Potential For Increased Earnings - The sky is the limit when it comes to earning potential. However, you should be aware that it can take time to build up your clientele. Therefore, you may experience a decrease in earnings before you experience an increase.
- Full Control - Leaving traditional employment behinds means that you are your own boss. Not only will this allow you to have control over your own schedule and earning potential, but it will also allow you to control the way your business is operated. For instance, if you are a strong believer in living a green lifestyle, you can make the choice to convert your commercial fleet to biodiesel in order to offer green shipping services to your clients.
There are also some disadvantages that come with leaving your traditional job behind in favor of owning your own business. These disadvantages include:
- Personal Liability - When working as a sole proprietor, you and your business will be one and the same in the eyes of the law. What this means is that your personal assets can be seized in order to cover business debts. For some people, this risk simply is not worth the possible rewards.
- Start-Up Costs - Like any type of business, you will need cash to make the transition from employment to self-employment. While there are ways that you can save on these start-up costs, such as purchasing a used semi-truck from a company like Arrow Truck Sales, there simply is no way to eliminate these costs all together.
The Bottom Line
There will always be pros and cons associated with your decision to transition from traditional employment to self-employment. However, by taking the time to carefully consider both the positive and negative consequences of making this decision, you will ultimately be able to determine which option is best suited to your particular needs.