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1512 Technology Drive Ste 101, Chesapeake, VA 23320

Wisdom & Authority Title Solutions

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Owner Operator: Own Operating Authority vs. Leasing Operating Authority

Posted on September 8, 2011 at 10:34 PM Comments comments (1)
 
 
 
 
 
 
Thinking about becoming an owner operator, or perhaps you're already one?  When you are an owner operator you must choose to either 1: seek your own operating authority or 2: get leased onto a trucking company and use their authority.  The decision to choose whether to have one's own authority or to be leased onto a trucking company's authority must be weighed carefully.  Finances and a strong business drive, are chiefly the main deciding factors in choosing to obtain your own operating authority or to lease someone else's.  For example, if financial matters such as credit issues, or minimal savings are at hand; then it may be feasible to get leased onto a trucking company and use their operating authority.  Also if you haven't given careful thought about business operations that goes with having your own authority, then again, it may be best to get leased onto a trucking company and use their operating authority.  The following are benefits that comes with obtaining your own operating authority or using the authority of a leasing company:
 
 
BENEFITS OF HAVING YOUR OWN OPERATING AUTHORITY:
 
  • Keep all profits for yourself
  • Can secure your own loads
  • More flexibility in your work
  • More opportunities in seizing the type of loads and locations available
 
 
 
BENEFITS OF USING LEASING COMPANY'S OPERATING AUTHORITY:
 
  • Can make decent earnings to start
  • Don't have to worry about DOT
  • Some leasing companies will take care of your IRP and or IFTA for you
  • Some leasing companies will provide a fuel card for you
  • Some companies may take care of miscellaneous permit and or taxes for you
 
 
Whichever option you choose, I strongly recommend that you take your finances, family and time into consideration.  First, if you choose to obtain your own operating authority, just be sure that you can devote the proper revenue towards overhead expenses as well as time that's required for operating and maintaining a business.  Of course if you lease onto someone else's authority; you will still have to employ practical business sense, but it's more when your own authority is present.  Second, if you choose to lease onto a trucking company's authority, then use this as a time for you to learn more about operating a trucking company, and what  requirements are necessary for conducting such an entity. This option will also allow you help you in preparing to obtain your own operating authority, if you decide to; in the future.
 
 
Wisdom & Authority Titling Solutions is committed to assisting you with your owner operator needs.  If you are ready to obtain your own operating authority; professional help will ensure that you have what you need to be successful.  If you want want to lease the authority of a trucking company; assistance is available to help get leased onto a reputable leasing company as well.  Wherever you are in the owner operator process, a solution awaits you.