How Much Does Becoming an Owner-Operator Cost?
One of the biggest barriers to becoming your own boss in any profession is the startup cost. However, when it comes to being your own boss in the trucking industry, it won’t cost as much as you might think. Whether you have a small sum in savings or you need to take out a loan, you can earn back the money you spent to start your owner-operator business quickly if you know how to make striking out on your own affordable.
Become a Contractor
Jump at the chance to become a contractor when you see an owner-operators wanted ad with a reputable transportation logistics company. That way, you won’t have to spend any money on marketing, office space, accounting, or other staff members, which already drops your startup costs by tens of thousands or even hundreds of thousands of dollars.
The Cost of the Truck
The cost of the rig itself is all the investment you’ll have to make if you become a contractor owner-operator — and how much you spend depends on what kind of loads you want to take. Expect to spend anywhere between $50,000 and $200,000 (or more), depending on the condition and size of the vehicle.
Maintenance, Gas, and Other Miscellaneous Costs
The only other fees you must take care of at the start of your days as an owner-operator are any licensing fees you need to keep updated. Working with a transportation logistics company as a contractor also affords you access to discounted gas and maintenance and also even to cheaper phone plans and hotel stays.
Landstar contractors have all the freedom of being their own bosses and none of the hassles of trying to run their own businesses. It’s more affordable and more reliable than starting a trucking company from scratch. Channel your years of experience in the industry into a sustainable and flexible business model by contracting with a transportation logistics company.