Having your own trucking company can be a fantastic career decision. It provides chances for a solid income, travel opportunities, and employment security. People with the ability to move freight will always be in demand. Even if self-driving vehicles become more widespread in the future, it’s unlikely that a computer will ever be able to operate a large truck. Some tasks are best left to people.
That said, truck driving is not an easy life, so Blazo Gjorev offers what it takes to succeed as an Owner Operator in 2022.
Plenty of Cash
Several experts say you should put little to no money down when purchasing equipment. If something goes wrong and you cannot make the payments, your own money won’t be lost, and you can ‘perhaps’ recover it when you sell the rig.
When you initially start out, you’ll also need enough cash for working capital: cash for unforeseen repairs, lunches, oil changes, and insurance (if you’re an independent trucker).
Superior Credit
Many would-be owner-operators make the error of going into the trucking business with bad credit or a lot of personal debt. Fortunately, many financing options are available to help you purchase a new truck, even with bad credit.
However, Blazo Gjorev notes, these truckers’ prospects are frequently exceedingly bleak. Since their financial circumstances and spending patterns never change, they frequently lose the truck. Your success as an owner-operator will be heavily influenced by your spending and money management skills.
Stable Relationship or No Relationship
Your rig may find itself in the driveway for extended periods of time if there are too many scheduling obstacles, and you frequently decline loads from the carrier you are leased with due to private reasons.
Long-haul trucking is difficult for a family. Don’t just assume that “everyone” agrees with you.
Accounting, Business, and Legal Advisors
It is advisable to leave legal and accounting matters to the professionals.
It may also be helpful to have a dependable business banking contact, accountant, and legal counsel to help you with key issues on business structure, record keeping, income tax returns, and various legal difficulties.
Make sure you have a strong handle on your personal finances before deciding to become an owner-operator.
A Carefully Chosen Trucking Company
Working for a reputable company is crucial. Blazo Gjorev knows there are many bad ones but also many great ones.
Choose a carrier that has owner-operators that have a history of working there. It indicates that they have made enough money to last for the “long haul,” which is what you want.
Find a carrier who does not use forced dispatch. Because if you decline a load, you don’t want to lose that load or your job.
NEVER get involved in a lease-purchase agreement with a trucking company.
Patience
Owner-operator jobs take a lot of time, effort, patience, and hard labor. But it is possible with careful planning and wise judgment.
Blazo Gjorev knows firsthand the trucking industry is extremely profitable.
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