Having your own trucking business can have a lot of advantages – after all, you get to be your own boss! If you’re ready to take the plunge and become owner-operator in a trucking business, there are a few things you need to think about to make it a success. At GSK Insurance Brokers, we have a lot of experience in truck insurance and we’re here to share some of our top tips for your owner-driver business.

Develop a business plan

Before you embark on your new business as an owner-driver truck operator, you need to have a solid plan in place. Spend time developing your business plan and consider things like the goals of your business, your ideal customers, and your competition.

Choose the right truck

One of the most important things you need to do for a successful owner-driver business is to select the right truck. Research the type of truck you need for your business and then decide whether you want to go for a new or second-hand option.

Speak with an accountant

Getting the financial side of things right in your owner-driver business is essential. Speaking with an accountant is a good idea as they can advise you on the best business structure, the documentation you require and they can also help you organise your tax obligations.

Set aside emergency money

Make sure that you have money set aside if things come up, which they often do with your own business! Whether it’s your truck needing repairs or you being unable to work for a period of time, having money in the bank for when problems crop up gives you real peace of mind.

Create good work habits

Having your own business can be hard work, especially in the early months, so make sure you set yourself positive work habits from the outset. Are you ready for being on the road for long periods of time? What other obligations do you have? How many days a week are you willing to work? Good work habits will help set you up for success.

Get the right insurance

It goes without saying that in order to have a successful owner-driver trucking business, you need to have the right insurance package in place. This ensures that you’re protected financially in the event of the unexpected. Speak to your broker about the best policies for you.

GSK Insurance Brokers understand the specific needs of owner-driver truck operators and we can help develop an insurance package to protect you and your truck. Our experience in this industry means that we ensure that your statutory obligations are covered and that you’re fully aware of the options available to you. Contact us today to speak to one of our brokers – your business will be in safe hands.

For owner-driver truck insurance, contact GSK Insurance Brokers today on (08) 9478 1933.

February 21, 2019

By Graham Knight

Founder and Managing Director of GSK Insurance (established in 1981). Graham draws upon more than 50 years’ experience in the insurance industry, working in both insurance and broking across various private, public and government sectors in Australia.

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