Need Owner-Operators? This Guide Should Help
Instructional issue of ROADSTAR designed to strengthen their ranks.
The recession of the early 2000s took a heavy toll on owner-operators. Now, with freight moving - and in some cases stacking up for lack of trucks and drivers - owner-operators are once again in high demand among many carriers.
Finding good ones is tough; creating new good ones even tougher. For that reason, our sister publication, RoadStar, came up with a special instructional issue of the magazine that is entirely devoted to rebuilding the supply of owner-operators.
Published in January, the issue is designed to help new owner-operators enter the business with a solid background, or to help those already in the business fine-tune their operations.
Called Vital Issue: The Truckers' Guide to Success, it is organized into chapters, each dealing with a specific area of the business of being an owner-operator.
If you're interested in helping some of your drivers get into their own trucks, or in helping owner-operators you already have under contract become more efficient, you might want to supply them with copies. Here are some examples of instruction it offers them:
• How to develop a business plan. What to haul, how to incorporate, budgeting for equipment, insurance and operating costs.
• Choosing a carrier. How to evaluate pay packages, safety records, extra benefits and carrier contracts.
• Buying the truck. Weighing new versus used; basics of specifying the right truck for the haul (size, weight, terrain to be traveled, payload, performance, warranty and resale).
• Finance options. How to determine whether to finance the purchase, or get into a carrier lease program.
• Cost analysis. Calculating cost per mile, budgeting for fixed costs and variable costs; how to figure profit. This section includes detailed monthly work sheets to simplify calculations and provide records.
• Maintenance records. How to set up preventive maintenance to avoid breakdowns. Software programs.
• Inspections. This section contains worksheets for setting up maintenance logs.
• Breakdown protection. Understanding extended warranties, service and maintenance contracts and carrier programs.
• Insurance. Shopping tips for personal liability & property damage, bobtail, cargo and other types of coverage to get the best policies at the best prices.
• Buying fuel. Tips on acquiring credit/debit cards; how finance charges work; how to avoid unnecessary fees.
• Taxes. Deductions for meals, business and home office expenses. Setting up retirement savings. How depreciation works, and how to get the most benefit from it.
• Expanding the operation. Setting up the business plan to add more equipment.
The special Vital Issue was distributed to RoadStar's regular circulation, but extra copies have been printed and are available to carriers interested in building a healthy contingent of owner-operators.
Individual copies are available at a cost of $9.95, plus shipping. Special pricing is available for larger orders. Call Faye Solem at (916) 786-3073 for information or to order.
E-mail Doug Condra at dcondra@truckinginfo.com, or write PO Box W. Newport Beach, Calif. 92656.
