Becoming an owner/operator has its rewards and disadvantages. Once you establish you're in a financial position to make the transition from employee to autonomous driver, weigh these pros and cons to discover if this entrepreneurial step is right for you.
PRO - The harder you work, the more you earn.
No longer being "on the clock" means that you get paid for the effort you put in. Was your previous paycheck not cutting it? Would you be willing to put in more hours given the opportunity? If you're an owner/operator, you get paid for the work that you do.
CON - You could end up overworking.
Conversely, without a set schedule or the promise of a steady paycheck, you could find yourself working longer hours or on weekends. According to Overdrive Online, at the start of your business venture you should be willing to drive 70 hours a week while getting things moving.
PRO - Go where you want to go.
Becoming an independent driver means mapping your own destiny, so to speak. This gives you the freedom to go wherever business exists, which could mean more clients. Maybe you're not a fan of long road trips; in this case you have the power to keep things local.
CON - It’s all your problem.
Owning your own vehicle is owning a large responsibility. Even if you’re in the position to buy a truck, you’ll want to be sure that your income can also cover maintenance and repairs, which can be expensive. You might consider leasing a truck, which doesn’t give you as much freedom as owning a vehicle, but does alleviate some of the extra costs.
PRO - You can work toward building your ideal life.
Aside from the potential to earn a great salary if you manage your time and costs effectively, becoming a business owner has rewards that don’t involve money. Maybe you don’t love driving as much as you love building something from the ground up and seeing it succeed. The challenge can be a reward in and of itself.
Understanding these key positives and negatives will help you decide if becoming an owner/operator is right for you.