Start a Business as an Owner-Operator

There are several factors to consider when deciding to become an owner-operator. Many truck drivers are content working for a company and having a guaranteed paycheck every month. Others have dreams of owning their own rig and living the entrepreneurial lifestyle that goes along with being an owner operator. If you fall into the latter category, here are a few things to assess before embarking on your new journey. Personal Life: If you are in good health, enjoy being on the road and have a stable support system at home, becoming an owner-operator will be much more attainable for you. A strong work ethic is key to starting your own business. Finances: Maintaining a budget is crucial. Your finances need to be in order, meaning you don’t have excessive debt and you are able to set aside money for a rainy day when in business for yourself. Open a business checking account with a nationwide bank to make cash withdrawals easier when on the road. Lease to a Company or Go Independent? This is a big decision that will vary greatly from driver to driver. There are pros and cons with both scenarios. If you choose to go independent, it’s just like it sounds. You are on your own from everything to your equipment to advertising to your business model. While you may have more freedom, the responsibility is greater as well. Leasing with a reputable company offers more security and assistance, while still enabling you to eventually own your own rig and have a more consistent base of freight from which to acquire loads. EPES Transport System, Inc. offers a 36-month lease-purchase program with paid accounting and tax services for the first 12 months. Whichever route you decided to take, there is plenty of money to be made in the trucking industry, provided you are doing your research and making sound business decisions. For more information about becoming an owner-operator with EPES Transport, please follow our blog and visit the website at epestransport.com.