There are an estimated 170,000 Owner Operators and Lease Purchasers truck drivers on the road today. This number is steadily climbing from the less than 150,000 drivers when the numbers fell during the recession. There is an increasing demand and opportunity for these entrepreneurs to haul freight but there are also few pitfalls. If you’re considering a career as an Owner Operators and Lease Purchasers Truck Driver or if you’re a seasoned professional, we have some advice from our experts.
Owner Operators and Lease Purchasers: The Appeal
Truck drivers make the move to owning and operating their own equipment for a variety of reasons. Owning and driving for yourself can be very appealing. Research from ATBS, a tax and accounting service for independent contractors found the following trends of Owner Operators and Lease Purchasers:
- Much shorter length of haul and much more home time.
- Net income per mile rising 3.8 percent each year, compared to 2.5 percent annual inflation.
- On the down side, due to total miles dropping by a fifth, only 1 percent annual gain in total income, well below inflation.
Owner Operators and Lease Purchasers: Finding Success
Most Owner Operators and Lease Purchasers that achieve success, professionally, personally and financially have a few things in common. Owner operators must approach driving with an entrepreneurial attitude much like a small business owner. Most Owner Operators and Lease Purchasers, as indicated by the ATBS research, have remained profitable despite the economical downturn and rising fuel costs.
Some of the most successful Owner Operators and Lease Purchasers have found that partnering with a dedicated carrier has lessened the burden of seeking brokers, loads and establishing relationships for accounting, insurance and equipment operation. For Owner Operators and Lease Purchasers who “lease on” with an established company there are numerous benefits. For example, some gain access to fuel purchasing and discount programs, consistent access to freight, fleet rates on insurance and often times paid tolls as well.
Ready to Purchase?
Paramount’s fleet consists of 100 % Owner Operators and Lease Purchasers. Like any sole Owner Operators and Lease Purchasers fleet, our success rests on the success of our drivers. Every benefit offered to our drivers is designed to help the Owner Operators and Lease Purchasers be successful on the road. With us as a trusted partner, you have the stability and benefit of fleet driving while enjoying the pay, independence and schedule of an Owner Operators and Lease Purchasers. Providing parts and tire discounts through our partner Roberts Truck Parts is just one of those programs that assist our Owner Operators and Lease Purchasers in keeping fixed costs down and keeping profits in their pocket.
If you are considering moving from company driver to Owner Operators and Lease Purchasers we can help you. Paramount Freight works with multiple companies that offer our drivers very competitive pricing and terms with lease to own programs. Contact us today so we can help you start your career as an Owner Operators and Lease Purchasers.