A range of challenges accompany owner operator truck driving—high costs, lack of benefits, hefty responsibilities, and added risk. Taking on all of those expenses on your own can be overwhelming.
Costs of owner operator trucking include:
- Truck lease: Monthly or weekly payments for a truck
- Fuel and tolls: Necessary and unavoidable travel expenses
- Commercial truck insurance: Required vehicle coverage, including liability
. - Personal insurance: Health, dental, vision, life or other needs
. - Food and drink: Sustenance for time on the road
. - Licenses and permits: Registrations, decals and credentials to drive.
- Maintenance: Unexpected repairs and upkeep for continued operations.
These costs don’t include freight or broker fees to find loads to keep your truck on the move. Oftentimes, the logistical hardships can pose obstacles to earning the needed income to offset expenses—leaving owner operators worried whether they have a stable financial future.
Owner operators also have to think about quarterly taxes, which require careful tracking and record maintenance to prove expenses for deductions. Many owner operators have to hire tax professionals for help navigating the complex process. Not only does this add an additional expense, but it takes up valuable time away from the revenue-generating portion of your business.
The High Costs of Owner Operator Truck Driving
Being an owner operator truck driver can feel like a money pit with fuel costs and repairs. With so many expenses and a lack of certainty about your return on investment, it is often a risky role with marginal reward.
It can be appealing to imagine being your own boss. At first thought, being your own manager and owning your schedule may seem preferable over trucking for another company. However, don’t forget to consider the unforeseen responsibilities.
As a truck owner-operator, you may notice costs continue to stack up. An unstable economy and high fuel prices are a couple factors that can leave your operation vulnerable. Without the financial means to weather storms, these costs can leave your future on shaky ground.
Leave The Costs of Independent Trucking Behind
High costs lead many owner operator truck drivers to seek a new normal. The never-ending logistics, expenses and worries are not sustainable for many.
The expenses cause owner operators to take home a much lower take home pay than expected, especially when starting out in the business, leading many to turn to driving positions within larger freight organizations over time.
It can be difficult to fund your own benefits, retirement plan and time off when running an owner operator trucking operation—leaving little leftover to enjoy your personal life. Plus, being an owner operator can be lonely without a team to stand behind you and support you.
Trucking positions with full benefits at Midwest Carriers offer peace of mind with stable pay, plenty of perks and a supportive team to help you thrive.
Driving for a Freight Company with an Established Reputation
Driving for an established trucking company with an excellent reputation can ease headaches. With pre-determined routes and reliable customers, companies like Midwest Carriers handle the logistics so you don’t have to.
At Midwest Carriers, you can rely on:
- Flexibility for paid and unpaid time off.
- Constant team support and camaraderie.
- Reliable maintenance and repairs for your truck.
- Company-provided benefits, like insurance and 401K.
Our competitive minimum weekly guarantee at Midwest Carriers makes our drivers feel valued for their work.
Changing Lanes: Choosing the Right Trucking Company for You
If you’re considering a shift in gears, away from those headaches and endless expenses of an owner operator, you should consider opportunities with other freight companies. Some important considerations when making the switch include strong employee culture, competitive pay and comprehensive benefits.
The driver-focused culture at Midwest Carriers means our employees get comprehensive benefits, impressive pay and that invaluable home time on a regular basis.
Our logistics team handle the headaches, so even when you’re out of on the road, you’re not alone to see the job through. The experienced team at Midwest Carriers has our drivers’ backs every step of the way.
Benefits at Midwest Carriers include:
- 24/7 Operations Support
- Medical, Dental, Vision
- Long-Term & Short-Term Disability
- Life Insurance
- 401K Retirement Plan
- Paid Vacation Time
- Paid holidays
- Modern equipment
- Local fixed schedule
- Flexible OTR schedules
Feel confident knowing you’ve secured stable pay, a regular schedule and benefits to support you and your family.
Come Along for the Ride
If you’re overwhelmed by never-ending costs of owner operator trucking, explore how a stable career at Midwest Carriers offers the benefits and supportive culture you’re seeking.
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