Tips for a new Truck Owner- Operator

You have just purchased your first truck or are contemplating over the purchase yet and are ready to enter the truck industry! First of all, you should be congratulated on taking this huge life-changing decision. Then comes the challenges you will face! From licensing to getting a job and transitioning into this new role as an owner-operator of your small business enterprise, everything is new for you and filled with surprises, some of which are not very delightful. Here are a few time tested pro tips from the best in the field:

Switch into Businessman Mode:

You are a business person now. Business is your big picture and earning profits is your goal. Driving is just a minor part of your enterprise. You need to be very disciplined and organized if you want to be successful. You will have to set your own schedules, learn to manage your finances in the best way possible and foster good relationships with your clients and other truckers. You have to stay on top of your game by keeping a keen eye on networking and watching supply and demand trends to be in a better position to negotiate your rates.

Calculating Cost of Maintenance and Repairs:

Every heavy vehicle owner will tell you that the cost of maintenance and repairs should be realistically calculated and taken into account all the time and never calculate too short. Here are a few areas that you need to keep in mind:

Cost of the parts: You have to be on your toes and rummage a bit around to find cheaper parts so that you don’t end up paying a lot of money.

Cost of the Repair: If you are good at working on your own rig and you definitely know what you are doing, it will save you a lot of money in the long run. If you are looking for a workshop, cities have high costs of maintenance as compared to towns.

Downtime: Try scheduling your maintenance and repair during the downtime of your rig in order to avoid losing your rides and try replacing parts before they completely break down.

Calculate the real Cost of Fuel:

Monitor your fuel consumption carefully in order to improve your mpg. It’s a proven fact that keeping speeds between 55 to 60 provides excellent fuel efficiency. Driving faster might get you to your destination in a hurry, but it can cost you a lot too.

Finances:

Managing your finances in the right way is vital for the success of your business. Calculate real costs of your truck maintenance and repairs, Fuel consumption and taxes, etc. and then add a buffer for emergency cases or in case you miscalculated. Money management is an endless task and it can be very stressful another good tip could be to hire an accountant to manage your finances for you. Accountants know how to maximize your deductions, creating a realistic budget and saving thousands of bucks. If you are thinking about purchasing a used Moffett truck for sale, you can contact us at Truck Forklifts to land an excellent bargain.