Do you own your own truck? Are you looking for a way to streamline your loading process, get more freight opportunities, and partner with a carrier?
There are always opportunities for experienced drivers to haul freight for carriers. One method is leasing on to a trucking company, which provides more stability, predictability, and support to owner-operators.
The right leasing opportunity can help your trucking business grow.
Carriers vs. Owner-Operators: What’s the Difference?
A logistics carrier, also called a freight carrier, is a company that offers different types of transportation services to vendors and clients. Companies that have goods to move contract with carriers to take care of the logistics, including everything from getting the right equipment to managing the supply chain to finding qualified drivers and trucks.
Truck owner-operators own their semi-trucks. Some lease out their trucks to these carriers on a contract basis. These drivers typically work on a freelance basis, so they are not committed to one product, carrier, or route.
What Is Leasing On to a Trucking Company?
Leasing on to a trucking company is a type of contract between an owner-operator and trucking company. In this case, the owner-operator agrees to use their truck and other relevant equipment to haul freight for the carrier. These drivers are not employees of the trucking company. Instead, they work on a contract basis.
After leasing on to a trucking company, the carrier offers several benefits to owner-operators:
- Finds the freight you haul
- Provides dispatching services
- Handles fuel taxes, cargo insurance, toll tickets, and more
- Fills out the paperwork
- Offers regular pay periods (usually in the form of settlement checks on a weekly basis)
Additionally, the carrier may provide owner-operators with truck maintenance services or health insurance benefits.
Leasing on agreements are ideal for owner-operators because the carrier handles the paperwork, finds the freight, and provides stability that drivers need to grow their business.
How to Lease On to a Trucking Company
If your goal as an owner-operator is to lease on to a trucking company, finding the right carrier and leasing opportunity is important. Follow these steps on how to lease on to a trucking company to make sure you sign a contract that helps you successfully grow your business.
1. Search for a Trustworthy Carrier
Look for a trucking company that you can trust.
Does the company have a good reputation? How much do they pay, and how? Can you choose your own freight rates and load choices? Are you able to take time off as needed? Research carriers to find one that has years of experience and offers flexibility to drivers.
2. Talk to Other Drivers
Recommendations from your fellow owner-operators are invaluable. Talk to other drivers to get the inside scoop on which companies to avoid, what carriers treat drivers with respect, and how they operate.
3. Determine What Type of Freight You Want to Haul
As an owner-operator, you get to decide what type of freight you want to haul. Whether you are looking to move shipping containers or dry van freight, the type will determine the equipment you need, the opportunities you can apply for, and the experience you must have.
Not all carriers offer the same freight opportunities. Make sure the trucking company you are considering leasing on to offers the freight you are looking for.
4. Check That You Have the Required Qualifications
Most trucking companies have qualifications that drivers must meet. Although every carrier is different, there are some common requirements:
- Driving experience (usually at least one year)
- A valid CDL (commercial driver’s license)
- No DUI (driving under the influence) convictions or major preventable accidents within a certain time period
- Good references
- A truck that is a specific year (or newer) or model
Figure out if you have the right experience, qualifications, and equipment for the job.
5. Make Sure You Have the Necessary Documentation
Owner-operators have to purchase permits, endorsements, licenses, and other documentation in order to lease on to a trucking company. Additionally, the carrier may require drivers to carry certain types of insurance, such as worker’s compensation insurance, property insurance, occupational accident insurance, and more.
Each trucking company you lease on to will have its own documentation, truck, and licensing requirements.
6. Understand the Details of Your Contract
As with any contract, it’s important to read the fine print. Have a lawyer or your accountant go through the lease agreement.
Also, make sure you understand the details. Do you know what expenses you are responsible for? Are chargebacks clearly outlined? Can drivers make a living, regardless of seniority? These details are an important part of ensuring your leasing agreement is a good move for your business.
Contact BT Trucking for Leasing Opportunities
At BT Trucking, we are proud to serve the transportation community. Our family-owned business has been a leader in providing transportation logistics solutions to our customers since 1988. Mile after mile, we provide stability to and build long-term relationships with customers, vendors, and drivers across the Midwest and Southwest regions.
If you are interested in leasing on to a trusted trucking company, we can help. Our team provides you with the tools and support you need to succeed.
Request a free quote or contact us today to learn more.
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