Owning your own truck is a great way to be an independent business person. But, it can be hard to do it all on your own. After all, as an owner operator, you are expected to do everything for your business. But, that does not mean that you have to do it all yourself.
Part of being an owner of a business is surrounding yourself with the type of support that allows you to focus on what you do best--driving--while others do the stuff that would keep you from driving.
Utilize Scheduling Companies
Maximize your time by using technology that allows you to quickly find and secure your next job. There are shipping companies that cultivate owner operators and make it easy to find a freight job that meets your schedule and routes. Most of these companies utilize software or even mobile apps for you to browse and reserve jobs.
Take Advantage of Discount Programs
If you sign up with a company that hires owner operator truckers, you can get access to benefits to reduce the cost of truck repairs and maintenance. You can also benefit from reduced insurance rates, discounted mobile communication plans, and even basic necessities like fuel.
Hire a Tax Accountant
Independent businesses need to file monthly business statements and quarterly and yearly taxes. Some states require state taxes as well. Filing taxes is a lot of paperwork and time that you could be driving another freight job. Hire a tax accountant who can do the tax work for you.
Keep careful track of all of your business expenses, mileage, meals, and service expenses so your accountant can take these into account when filing. There are many deductions that you can make of which you might not be aware but a tax accountant can help you to utilize.
Hire a Lawyer
There are contracts that you have to sign as an owner operator. But chances are, you aren't a lawyer, so don't try to be one! Engage a lawyer to review contracts for you, especially if you take on large or multi-payload jobs.
Utilize a Business Advisor
As a business owner, you have to decide when is the right time to invest in new equipment or a new rig. Rigs are huge investments, so buying one is not a decision to enter into lightly. A business advisor can make sure that you don't throw away money that you spent a long time earning.
Having the right advice can make you a more successful businessman. It is better to surround yourself with good people than to make a mistake that costs you time and money. Contact an owner operator trucking company for more information.