The increase in demand for commercial goods and services, compounded by the current driver shortage, means there may have never been a better time to take the next step in your career and become an owner-operator. Many carriers are offering higher rates for owner-operators in an attempt to find quality, willing drivers to carry freight cross-border.

In my 30+ years of financing owner-operators, I have seen many succeed, go on to increase their earnings and provide for a better life for themselves and their families. If this is your goal as a first-time owner-operator, read on.

Origins of PowerLease

As a traditional financing company, we had based most of our decisions as to whether an owner-operator would be successful on their credit score and net worth. We realized this isn’t always the best way to gauge who will thrive as a business owner and some potentially good candidates were excluded from getting into the truck of their dreams.

We started PowerLease with a new mission – to help more candidates who wanted to become owner-operators and base it on not only their credit, but more on their work history. If you have the experience and skills to do the job, you could be approved and adopt our new motto: “LET YOUR EXPERIENCE BE YOUR CREDIT.”

Having the skills to do the job effectively and the ability to learn new skills such as business acumen are important to success as an owner-operator; but the truly successful owner-operators bring more to the table. They have an attitude of success. They have perseverance. They know luck is built from hard work. They take action and drive the miles. And they do it all with passion.

Since we started PowerLease four years ago, we have helped over 300 first-time owner-operators get into their own truck. We’ve helped them start their own business and linked them with one of Canada’s top carriers – all with no money down.

When we asked our most successful owner-operators about their keys to success, we received a lot of great answers and put them into the quiz below. If you’re considering becoming an owner-operator for the first time, check it out to see if there’s a match between your unique skillset and that which is required by the job.

Take This Quiz to See if Now Is the Right Time for You to Jumpstart Your Career as an Owner-Operator

☐ Are you willing and able to be out on the road for a week or more at a time?
☐ Are you willing to learn and do the work required to grow a business, and treat this as more than a job?
☐ Are you able to do minor repairs?
☐ Do you have a rainy-day fund or access to credit?
☐ Are you physically and mentally fit for the work?
☐ Do you have support from your family and friends?
☐ Are you ready to make a commitment for the long haul?
☐ Are you goal-focused with a long-term orientation?
☐ Do you have the powers of persistence and perseverance?
☐ Can you create relationships with key stakeholders, such as dispatchers and managers?
☐ Do you get along well with others?
☐ Do you have a ‘make-it-happen’ attitude?
☐ Are you a problem solver who focuses on solutions and not just the problem?
☐ Are you a good planner?
☐ Do you have a positive attitude?
☐ Do you anticipate change and find comfort with change?
☐ Do you take ownership of your own mistakes?
☐ Do you have fun?
☐ Do you believe in yourself and your abilities?

How did you score?

16-20: You are a rock star who has what it takes to be an elite owner-operator
13-15: You’ve got what it takes to make it as an owner-operator
10-12: You can make it as an owner-operator and should consider if this is the right move for you
<10: Now may not be the best time to take the step to become an owner-operator. Consider what you may need to do to get to a point where you feel confident in your abilities to operate your own business.

Whatever your score, if you’re really interested in becoming an owner-operator and starting your own business, contact PowerLease by phone or email for more information, or apply today!