According to recent reports the average salary of owner operator pay is much more than the salary of OTR truckers. The average owner operator truck driver earns $164,000 according to Indeed.com. Meanwhile the average CDL truck driver working as a company driver earns a net of $35,000 – $50,000 annually and this is about an average of $42,500. According to the Bureau of Labor Statistics the average pay for tractor-trailer truck drivers was $40,260. This will still vary according to the driver’s gross as well as actual expenses.
Independent truckers are driving long distances holding the responsibility of all the expenses like the freight, gasoline, and maintenance. These expenses are deducted from their gross in able to
determine the yearly incomes. The number of customers that the truckers have contracts with will raise their gross pay. In order to lessen the expenses and have higher earnings on net incomes then they need to have a maximum freight weights that is set for the shipments.
Working as an independent truck will benefit you to have a global positioning system wherein your pickups and deliveries can be rerouted properly while saving on the gas expenses. Owner-operators can indeed earn more however it is important to trace all the expenses and be keen on the important details of your operations so that your expected earnings can be achieved and even go beyond it.
To succeed as an owner-operator, it is essential to take into consideration of the following:
• Have an understanding and acceptance that the payment which you will receive from the people whom you work for will just be for the labor. This means that working more will lead you to earn more.
• Be able to build a long-duration relationship. It is important to have a loyal customer that is constant rather than transferring from carrier to carrier because this will just cost you a lot of money. Factors that will affect your operation will include the costs, rates, customers, and safety records. Be sure to have an idea of what you will be getting yourself into.
• Understand the economy of the business like being able to look for carriers serving growth industries and having long-duration relationships with the customers.
• Make your anticipations realistic with regards to the revenues and income. Keep in mind to live according to your means just like selecting your truck preference.
• Keep in mind that there is a lot of cost in maintaining a semi tractor trailer with the average maintenance per year around $14,000.
An owner operator refers to a truck driver who owns and operates a commercial vehicle for which is being used as his business and occupation. It pertains to an individual who both owns as well as operates the business. These operators hold the responsibility of the transportation of goods across the highways and urban environments using the vehicle or cargo that is appropriate for the road.
In addition they maintain effective communication with the loaders to have a clear understanding regarding the time frames of the delivery of goods. Moreover, the operators make sure that they maintain focus on both safety and route efficiency.
One vital factor to determine one’s success or failure as an owner-operator is the relationship with the customer or carrier. There are also times that the owner-operators themselves are their own enemy as they destabilize their business like having a budget that is based according to the best of times rather than year-long averages.