If you are an owner-operator with multiple trucks, you are well on your way to becoming a small fleet owner. You can take your love of being in control of your operation—and your sense of pride in owning your own rig—and expand your career to include a small fleet with your own drivers. This is an exciting career decision that can lead to great opportunities now and far into the foreseeable future. Whether or not you currently drive for Greatwide, here’s what you need to know about your expenses and profits before you pursue becoming a small fleet owner.
Once you’re the boss, you’ll need to consider what effect multiple trucks will have on your free time and your bottom line. As a small fleet owner, you need to be prepared for far more expenses than you had as an owner-operator. Expect these costs to increase as your fleet grows.
Expenses may include:
- Payroll taxes
- Workers’ compensation and unemployment insurance
- Wage and benefit costs
- Truck maintenance and repair
Being the boss obviously has its expenses, but you can expect great profits from your new career path as well since additional trucks obviously bring greater potential for increased profits. While you can’t simply multiply your individual profitability by the number of trucks in your small fleet, there are great profits to be had by small fleet owners, some of which are directly monetary while others are simply benefits of being the boss.
Profits and other benefits may include:
- Profits from employees’ loads
- The power to create your own schedule
- A sense of pride in owning your own fleet
- Having total control over the operation
Discover more of the advantages of becoming a small fleet owner by connecting with us on LinkedIn and YouTube. Then, see what truckers are discussing on Facebook and Twitter. You’ve got what it takes to start your own small fleet—now let’s go do it!