Owner-operator

Owner-operator

In the United States and Canada, an owner-operator is any small business owned by the same person who is running day-to-day operations. Owner operators are found in many business models and franchising companies in many different industries like restaurant chains, health care, logistics, maintenance, repair, and operations.

In trucking, it is a self-employed commercial truck driver or a small business that operates trucks for transporting goods over highways for its customers.[1]

The Motor Carrier Act of 1980 deregulated the industry and made it easier for manufacturers to set their own prices on shipping goods, and also allowed owner-operators to be more successful by taking some of the control out of the hands of the larger motor carriers.[2] It was now possible to find a carrier willing to haul goods for what customers wanted to pay, rather than what the larger carriers' rates were.

  • An owner-operator is free to either haul free-lance (non-committal to any one firm or product), or enter into a lease agreement to dedicate their equipment to one customer or product.
  • The owner-operator typically has to pay higher rates on insurance due to smaller size than most larger companies, meaning they have to charge more to balance the cost.

References

  1. ^ OOIDA Overview >
  2. ^ Trucking Deregulation, by Thomas Gale Moore: The Concise Encyclopedia of Economics: Library of Economics and Liberty

External links



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