Becoming an Owner Driver can be a risky business. Realistically, owner drivers will succeed only if there is sufficient demand for their services. Therefore, location is the most important decision.
Once you have established a location, you need to find a vehicle. Choosing the right vehicle is important. It will become your home many nights so you will need a comfortable model. Financially, this is a huge outlay and it would be advisable to look at service intervals, fuel consumption, weights, etc. Setting up a servicing agreement may be advisable if you want your truck to be on the move most of the time.
You now need to look for work. What do you want to do? Do you have experience in specialist haulage experience or just general haulage? Stick to what you know you can do and then look to progress.
Pricing is important. Price yourself too low and you will not earn enough to pay for the truck, fuel, servicing, food, etc. Price yourself too high and you will not see any business.
Many large employers sub-contract to owner drivers. The large employers then dictate how much they will pay. This will usually cover all your costs. If it does not, you need to look at negotiating a special rate or working elsewhere.
Once you are established, you may be looking to purchase (or lease) trailers. The advantage of this is that you can look for return loads. Introducing 'freight exchanges'. These are systems whereby hauliers place loads they cannot or do not want to move themselves onto the Internet and you can bid to move them.
There are many advantages of being an owner driver (such as satisfaction, being your own boss, etc.) but there are many disadvantages (costs, loneliness, etc.). For some, becoming an owner driver will suit but for others, it will not.
