Thinking of becoming an owner-operator? Management experts say the most important first step for any business, including a trucking business, is to put together a plan.

In the first in a series of articles detailing what it takes to become an independent owner-operator, Senior Editor Patricia Smith offers advice on what to include in your business plan – and why it’s important – in the August issue of RoadStar magazine.
One important first question: What experience and skills do you bring to the business? Whenever we ask veteran owner-operators for advice on getting started, their unanimous response is “get some experience.”
Those veterans are equally quick to point out that a good driver doesn’t necessarily make a good owner-operator. As one recently pointed out, buying a truck meant he became an accountant and mechanic as well as a truck driver. When he got his own operating authority, his job description expanded to include sales, billing and collections.
Some of the other topics addressed in the article that need to be included in your business plan include the kind of freight you will haul, and for whom; sole proprietorship vs. incorporation; equipment needs; insurance needs; and income and cost projections.