Want to take advantage of the opportunity in a fast-growing industry? Be an owner operator grain hauling. According to the American Trucking Association (ATA), the trucking industry dominated the U.S. freight market in 2018. With the economy still on the upswing, it stands to reason that the trend will continue in the near future, In fact, the ATA claimed in 2018 that an additional 900,000 drivers are needed to address the growing demand. Amazon’s recent announcement making one-day shipping standard for Prime customers only increases the pressure across the board for more drivers. As companies struggle to meet the growing demand, the trend of paying higher rates to secure trucks to ship their commodities will likely continue. This trend extends to owner-operators hauling grain.
Experience Matters, But So Does Financial Sense
For experienced truck drivers, owning their own rig might seem to be a logical next step. Experienced drivers already know the effect life on the road can have on their health and family relations and whether or not it fits their lifestyle. But they must determine if they are financially able to purchase their own rig and how much operating money they will need to run their own trucking business.
Expenses Also Matter
Drivers employed by truck owners know how much income they will pocket, and they don’t have to worry about unexpected expenses that can pile up in a hurry. Variable costs such as fuel, tires, regular maintenance and those unforeseen repairs are passed on to the truck owner, along with the cost of fees, permits and taxes. On the other hand, profit is also passed on to the truck owner. A smart owner-operator who spends money wisely can minimize expenses and maximize profits, with the opportunity to increase his income substantially.
As an owner-operator, hauling grain offers the opportunity to take advantage of the increasing demand for freight haulers in the fast-growth trucking industry.