9 Ways You Could Make More Money as an Owner Operator Truck Driver

Being an owner-operator truck driver affords many benefits and also comes with distinct responsibilities. As your own boss, you get to choose your routes and set your schedule. You also have to maintain your assets and manage your bottom line. If you want to boost your income, here are some business-savvy strategies to consider. 

• Get First Dibs on the Best Loads

The best loads are the ones that pay well, are convenient to haul, and involve professionals you respect. To get these loads, you must be the top choice for shippers and brokers. Strong networking skills, reliability, and communication can make you the most desirable owner-operator and ensure you get your pick of the best loads. 

• Seek out Long-Term Contracts

When you find a shipper you really enjoy working with who respects your work and has regular loads that are ideal for you, consider seeking out a long-term direct contract. By doing so, you can secure consistent income with a solid business partner. 

• Negotiate High Rates

As an owner-operator, chances are you are doing a lot of the negotiation yourself. The first offer is likely not the best that’s on the table. To negotiate like a pro, stay informed on market rates and confidently present a counteroffer with fair prices that maximize your profits. 

• Plan the Route in Advance 

If you master route planning, you can cut down on miles, minimize empty miles, and optimize fuel stops. While shaving off a mile here and there may not sound like a lot, over weeks, months, and years, those saved miles can boost the bottom line. 

• Cut Down on Expenses

An often overlooked way to improve the bottom line is to cut down on expenses, and there are many ways to do this. Each individual strategy may not make a significant difference, but when applied together over the long term, it will yield noticeable benefits. One approach is to research fuel prices in advance to find the best places to stop to fill up. For example, due to differences in taxes, fueling up in one state may be more cost-effective than fueling up in another. There are also more ways to save. The cost of eating out at restaurants, even fast-food spots, can really add up over time. Consider packing a cooler in the cab and stocking up on sandwich ingredients and other whole-food snacks at the grocery store to save money on food and boost nutrition at the same time. 

• Keep Up With Maintenance 

When your equipment is in tip-top shape, it can operate efficiently. As things start to wear and tear, the efficiency drops, and it starts to cost more to go the same distances. By keeping up with maintenance, you can get the most out of every gallon. Staying on top of maintenance needs also has the added benefit of extending the lifespan of your equipment. Regularly check your truck’s fluids, tires, brakes, and other important parts to prevent costly repairs and breakdowns. 

• Drive Maximum Safe Hours

For safety and health, truck drivers must adhere to strict Federal Hours of Service (HOS) regulations created by the Federal Motor Carrier Safety Administration (FMCSA). It is crucial to understand the limitations and adhere to them, and it’s essential to prioritize safety and compliance. If you are driving significantly fewer hours than the regulations permit and feel safe increasing your time on the road, consider upping your driving hours to bring in more income. 

• Minimize Deadhead Miles

Deadhead miles are a waste of time and fuel and leave earning opportunities on the table. Plan your trips to pick up additional loads on the way home to maximize your time, put the fuel to good use, and turn deadhead miles into lucrative miles. Utilize load boards to identify backhaul opportunities and optimize your time on the road. 

• Specialize

Being a jack-of-all-trades definitely has its benefits, but it can be more lucrative to specialize in high-paying niches. To up your pay, consider honing your skills and earning certifications to haul hazardous materials, oversized goods, or refrigerated goods, as these are the areas that earn premium rates. Specializing positions you as an expert in your field, making your services more appealing to shippers and brokers. 

Owner Operator Truck Driver Careers

QFS Transportation is one of the best intermodal trucking companies offering intermodal trucking services throughout the United States. At QFS, our drivers come first– that is why our network of Owner Operators has an outstanding road-home balance, a dedicated support team and safety staff, and the experience needed to help our drivers succeed. QFS Transportation is always searching for experienced drivers across the entire nation. If you are interested in hauling for QFS, fill out our Driver Application or our Tractor Application.