Owner Operator Load Board - Members Edge (2024)

FAQs

Why do so many owner-operators fail? ›

Failing to create a solid business plan, poorly managing expenses, and missing important DOT compliance requirements can cause small trucking companies and owner-operators to shut down early on in their business ventures.

Freight type

For example, refrigerated loads (a.k.a. reefers) will generally earn more money than van freight because they require a specialized truck. Similarly, flatbed loads often have higher rates because they are heavier or larger than the average load.

So, while the average owner-operator salary is over $300,000, depending on how you manage your business finances, actual net income may be closer to $100,000 per year.

How much does an owner-operator truck driver make? The owner-operator pay per mile is around $1.50 to $2.50. Whereas the average rate per mile for owner-operators in 2023 is around $2.51.

Hazmat Hauling

The Hazmat industry has some of the top paying trucking companies. This is because Hazmat hauling involves transporting hazardous materials such as chemicals, fuel, and explosives.

National average flatbed rates are currently $2.52 per mile, the same as the May average. The Southeast has the highest average flatbed rates at $2.68 per mile. The lowest rates are in the West, with an average of $2.23 per mile.

Making the Tough Decision to Become an Owner-Operator in 2024. The biggest benefits of being an owner-operator are by far the freedom with time, work location, and finances. Provided your business is successful, you can be in full control of your time, where you spend that time, and how much you make when you work.

Startup Costs

Starting out as an owner-operator can be expensive. There's the cost of purchasing or leasing a truck, obtaining necessary licenses and permits, and insuring your vehicle and cargo. These costs can be daunting and may require taking out loans or tapping into savings.

You gain independence.

One of the biggest benefits of being an owner-operator is being able to run your business how you want. Simply put, you're your own boss. This means you: Make your own business decisions.

DAT One is, perhaps, the largest load board in existence and is committed to helping trucking companies take their business to the next level. This is an excellent load board for companies of all sizes, though it does come with a heavier price tag.

Is 123 load board worth it? ›

Truck drivers, freight brokers, and shippers rate and review 123Loadboard as one of the top-rated load boards and mobile apps in the transportation industry. Transparency is good for everyone and reviews are a great way for potential customers to tell how a company is doing by hearing it straight from other consumers.

Usually you will need to supply insurance certificates showing cargo liability of $100,000 and liability insurance of $1,000,000, however this can vary depending on the broker or shipper.

A lack of new drivers coming into the industry – due to the working conditions, low pay, and lack of benefits, many people avoid entering the trucking industry. Drivers leaving the industry – many truck drivers are leaving the industry in search of jobs that offer better pay, working conditions, and benefits.

Factors That Contribute to Driver Turnover

A trucking career means long hours away from home, demanding schedules, strict deadlines, and high stress levels.

The freight industry has been in recession for more than a year, hampered by overcapacity and lower demand for goods after people shifted to spending on services and entertainment after being cooped up during the pandemic.

Owner-operators know the only thing that matters is results. Polished pitchbooks and corporate spin might temporarily fool outsiders, but they don't produce cash flow. Owner-operators want cultures that reward results instead of flash.