Owner-operator
A driver who owns their truck and runs it as a business, either under their own authority or leased to a carrier.
An owner-operator is a driver who owns the truck and runs it as their own business, instead of driving a company truck for a paycheck. You own or finance the equipment, you cover the costs, and you keep what is left after the load pays and the bills are paid.
There are two common ways to run. You can operate under your own authority, which means you have your own USDOT and MC numbers, your own insurance, and you book your own freight. Or you can lease onto a carrier, running under their authority and their insurance while still owning your truck.
Either way, the job is half driving and half business: booking loads, tracking miles for IFTA, invoicing brokers, staying on top of the truck payment and insurance, and knowing your cost per mile well enough to say no to a bad load.
Related: operating authority, rate per mile, settlement.