Independent Owner-Operator Vs Company Driver: Which Is The Best Choice?
If you're going to be driving a tractor trailer for a living, then obviously you want to earn as much money as possible. There are benefits to becoming an independent owner-operator, just as there are benefits of opting to become a company driver. Here is a list of pros and cons for both choices:
Owner-Operator - Pros
First of all, you would have a great deal more freedom, as you wouldn't have a supervisor scrutinizing your every move. You also have the ability to make unlimited amounts of money, as you would be in charge of which jobs that would be accepted or declined. The average amount of net income that you can make as an owner-operator is $50,000/year.
Owner-Operator - Cons
One major con is the fact that independent owner operators are responsible for every aspect of the business.That includes handling any problems that might occur, the management of insurance, the hiring and firing of other drivers, and more. This amount of responsibility could prove to be quite stressful. It is also important to factor in annual operation and maintenance costs for the tractor trailer, which could be expensive.
Company Driver - Pros
One of the main pros of driving as an employer for a company is the fact that you would likely have access to health insurance, as well as a number of other benefits. Another pro is the fact that your employer would handle all business management aspects. Your only responsibility would be driving your truck from point A to point B to deliver the products.
Company Driver - Cons
One con of working as a company driver is that you would likely be limited when it comes to earnings. Most individuals that work for private company gross up to $40,000/year, which is significantly less than independent owner-operators. You also would not be included in any major decision-making that could affect you directly. This could be anything from which types of products to deliver and which companies to conduct business with.
Working as either a company driver or an independent owner-operator both have positive and negative aspects. If you prefer to have someone else handle the administrative aspects of a business, and you don't want to contend with the costly maintenance of a tractor trailer, then working for a trucking company might be best for you. However, if you like the idea of being your own boss and making all of your own decisions, then you might want to look into becoming an owner-operator that works independently.
