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You can gain the independence of having control of your work and earnings by becoming a dump truck owner-operator. If you have no truck driving experience, it will take several years to become an independent owner-operator. If you set the goals and follow the steps below, you will have a lifetime job as a dump truck owner-operator.
How to Become an Owner & Operater of a Dumptruck
Driving and operating a dump truck will require you to have a commercial driver's license or CDL. The best way to get a CDL is through a truck driving school. Find a school in your area and obtain your CDL.
There is always high demand for CDL drivers, so you should be able to find a job with a trucking company that specializes in dump trucks. The truck driving school will provide job placement services to help you find a job.
Work and save. The two most important things you need to become an owner-operator are experience and a substantial down payment for your first truck. Set a goal of four years driving experience and $20,000 to $25,000 saved for your down payment and the first year's insurance on your dump truck. You should put at least $500 per month into savings.
Different parts of the country use different styles of dump trucks. Learn what type of trucks are in demand in your area and how much they charge for hauling and dumping.
Become familiar with a truck dealership. As an owner-operator, you will be in a partnership with your truck dealer. Get to know the people in the sales, service and parts departments. They will help you to buy the truck you want and to keep it working and making money.
To finance your first truck, you will have to show that you have a work contract. You should be able to show the truck dealership who you will haul for and how much money you will earn. Trucking companies and large construction companies contract with owner-operators.
Buy your first truck. Your experience, down payment and work contract should get you into your first dump truck.
Companies want good employees. You may impress a trucking company enough to have them send you through truck driving school and have a job waiting when you get your CDL.
Buying a truck and trying to find business without experience will not work. An owner-operator is his own small business. Money management skills are as important as driving skills.
Tim Plaehn has been writing financial, investment and trading articles and blogs since 2007. His work has appeared online at Seeking Alpha, Marketwatch.com and various other websites. Plaehn has a bachelor's degree in mathematics from the U.S. Air Force Academy.