The Advantages And Disadvantages Of Being An Independent Trucker
For people who have always wished to become truckers, there are two options someone could take. The most common is working for a trucking company where you get employed and work under someone just like any other job or become an independent trucker where you are simply your own boss. The best option is being an independent trucker. However, there are a few pros and cons regarding these options that someone might want to look into before making the decision.
Advantages Of Being An Independent Trucker
1. Freedom For Doing Anything Anytime
One major reason that many people choose to be independent is the freedom of being your own boss. You get to make decisions all by yourself. It could be choosing your clients, choosing the routes to go, deciding whether to go to work or take a day off, or even choosing your favorite truck to buy. This independence creates lots of peace of mind because you have the freedom to choose.
2. You Get to Keep All The Profit
Being the sole proprietor in the business, you get to keep all the profits after paying for the expenses which also include insurance and getting all compliance documents. When working as an independent trucker, the motivation is quite high as compared to working for a company. The harder you work, the more you earn as compared to a company driver with a fixed salary.
3. You Get Enough Time To Spend With Family
Most company truck drivers have a very hard time keeping up with family plans. This is different when working as an independent trucker. You can choose if there is a time you need to stay home with the family. It could be going for the PT meeting, going to the final game with the family, or even taking the family to the movies.
Disadvantages Of Being An Independent Trucker
1. Complexities On All The Regulations Imposed On Them By Government Agencies
Starting up a trucking company is very costly to a single person. The government and all the agencies have very strict rules that need to be followed. There are rules and regulations set by these government agencies that cost a lot and make it very hard for a single person to manage them all. A good example of a company that focuses on these compliance regulations is TBS DOT compliance services. They can help a trucker with permitting, compliance and fuel tax reporting services, helping the independent company have one less thing to worry about.
2. You Have To Do Everything By Yourself
Being an independent trucker has one big challenge. This challenge is getting worn out and doing everything all by yourself. You have to look for clients, charge them, deliver their goods, make sure all documents are valid all the time, and also keep the truck in good shape. This could be a handful for a single person, especially if it’s a new business to you. These challenges could wear someone out and even lead to them wasting lots of time trying to deal with them.
3. You Incur Losses When You Decide To Leave The Business
Just like any other business, things might get tough and might lead to you close the business. If a company employed you, it would be easy just to hand in your resignation letter. With independent truckers, there are many more details. You would have the problem of the disposal of assets like the truck. They depreciate very fast, and no matter how soon you might decide to close up, the price for the truck would never remain the same or go higher than it originally was. This is the reason why a person has to be completely sure and ready for anything before getting into such a business.
There are as many good reasons as there are bad ones and this is the reason why a person trying to invest in this line has to think through all of them. A person needs to make sure they would survive by confirming that the pros outweigh the cons. Do good market studies, get advice from professionals, talk to other independent truckers about their experiences and also make sure you understand all requirements before signing up. It’s also very important to make sure you have good promising clients before starting, as compared to starting a business and looking for clients then. With all these ideas in check, you could be good for takeoff as an independent trucker.