Sooner or later the thought comes into your mind: Why not be an owner/operator? Yes, the idea has occurred to you before. But this morning you've been assigned a load that you don't want, to somewhere you don't want to go. Or you have been out four weeks, and they can't seem to get you routed back toward home. Or you never did much like driving this kind of truck, and you'd have to change jobs to drive something better.

Yes, being an owner/operator can be risky, but you know there must be something more to the working world than just getting a paycheck. You've talked to some O/Os and some seem pretty happy. Others, though, moan and groan a lot about truck payments and the high price of fuel lately, and all the other expenses. But you've managed to save some money in spite of all your family's expenses and figure you could manage the financial aspects OK.

The whole idea right now seems like a bright, shining dream. And it's attainable because a number of fleets advertise lease-purchase plans to get you into truck ownership, and it doesn't take a lot of cash to start. With used-truck prices down right now, you can get into a really decent late-model rig for not a lot of money.

Maybe this is the time.

Well, it might be if you are truly an entrepreneur - one who wants to start a venture, wants most of its rewards, and is willing to take all of the risks. If you do it right, you can make good money, but remember that trucking is a high-overhead, low-profit business. Yes, "profits" are figured after everyone gets paid, and you can figure it that way - assuming you gross enough to pay all expenses, then allot yourself a salary, and then look at the remainder as profit.

When you are the business

Point is, running a truck is a business, above all, and you have to be able to manage it. Some fleets will train you in business basics; some truck builders also offer basic courses to help new owner/operators start out right.

But you have to be able to record numbers and keep track of expenses, receipts, etc., every day, no matter how tired you are. You would be responsible for keeping the truck running reliably, and paying for all the costs of running and repairing it. If it breaks down in the middle of nowhere in the middle of the night, you can't just call your dispatcher and let him worry about it. You do the worrying, and have the hassle of getting the truck going again.

And you'll have to pay for it. It's hard for most people to save money even with a good-paying job. Can you build up a nestegg to take care of these expenses? If you whip out a credit card to pay for repairs, can you pay it off quickly? Will you put aside money to pay your federal and state taxes on time? You also need to save for the kids' education, your retirement and so on. Will you really do it?

Can you take the time to sit down with financial planners to set up a retirement account, arrange health insurance and all the other things you now take for granted as an employee? A good motor carrier can help you with many of these things, but may or may not offer good products (insurance policies and the like) at good rates. Do you have the time, patience and smarts to handle these things?

Insurance - on your truck and on your own body - is very expensive these days. Depending on the kind of truck you'll drive and on your personal situation (age, marital status and number of children), you can figure on paying $300 to $1,000 a month, and maybe more, just for these two types of insurance. Based on what you think you'll make by hauling freight, can you afford it?

Are you O/O material?

Still, the heady "rush" of starting your own business is a reward in itself, and so is the satisfaction of wisely handling the business matters encountered in your day-to-day operations.

Over the years, we've met lots of successful self-employed truckers and have gotten an idea of what makes them tick. We've talked with psychologists who test prospective owner/operators and drivers for the industry, and think their beliefs make sense, too.

We've come up with a list of personality traits and conditions that, if they apply to you, might qualify you to make the move - or tell you to stay on the payroll.

You might succeed as an owner/operator if you...

Are a hard worker and good driver, but can't seem to find a company that runs things to your satisfaction.

Yearn "to be your own boss" and call the shots on what you do and where you go. Want to work and take time off when you say, not when the company tells you to, and want the right to say no to a forced dispatch without fear of getting fired.

Want to arrange many of your own financial matters (insurance, investments, pension plans, etc.) instead of letting the human resources department do it. Have the self-discipline to spend frugally, to set aside money for maintenance and operations, and to stay with the business once you start it.

Have a spouse and/or accountant who will help you keep paperwork straight and get the taxes taken care of on time.

Have enough start-up money, not just for a down payment on a truck but also for operating it, plus cash saved to pay your bills for a month or two if an accident or sickness takes you out of commission.

Have several years of experience in trucking and truck driving, especially with the type of hauling that you'd do as an owner/operator.

Know in great detail what it costs to buy and operate a truck.

Know where to find good-paying customers or a good motor carrier to contract with so you can make a good living.

Want to drive a certain make and model of truck and set it up just the way you've dreamed about during all those hours on the road.

Notice that we put the "dream truck" at the end of the list. Unfortunately, this is often the main reason that many people become owner/operators. It should be their last reason.

Many fleets today operate some pretty nice hardware, up to and including "large cars" with Big Power and all the proverbial bells and whistles. If what you drive is your most important consideration, shop around for a company that runs what you'd buy, then go to work there.

You should stay with a company truck if you...

Are new to trucking and don't know the ropes at all, and maybe don't even know how to drive a big rig.

Don't have a lot of experience, but are willing to learn - and would rather let somebody else pay for your mistakes.

Like the trucking life (being on the road, dealing with people and being alone, and can tolerate separation from your family) as well as driving a truck. Like driving a truck but would rather let the company worry about paying for fuel, repairs and so on.

Like the job you now have, the company you work for and its people, or know that you'll eventually find a good outfit.

Don't like to worry about financial matters, including the details of your own paycheck.

Think health insurance, vacations, pensions and other fringe benefits should come with the job.

You are already a good driver if you like cooperating with everyone in order to get the job done. You've seen a positive, upbeat attitude among lots of people. They're team players, which may at first grab you as corny. But then you also see that these people are also happy. They aren't necessarily born that way, but got that way through positive thinking.

You can be happy in a good job because the company will handle a lot of the worries that you might not be equipped to deal with. Why ruin a good ride?

If you're a businessperson at heart and would like to take care of most of your affairs, then you can be happy as an owner/operator, and in fact may never be happy until you try it. The most important thing is to know yourself well enough to make the right choice.