How Owner/Operators Can Navigate a Tough Economy

Spot market rates in trucking are lower and there’s excess truck capacity in the current economy. Load-to-truck ratios are lower, meaning there are too many truckers chasing too few loads which makes it bad for carrier profits. And just a quick peak at recent months of reduced truck tonnage reports tells the story of how manufacturers, retailers and distributors are shipping less freight.

These are just a few indicators that the current truck economy remains flat.

So in today’s challenging economic climate—marked by high fuel prices, low freight rates, and rising operating costs—female entrepreneurs who are owner/operators are feeling the pinch more than ever. And because there are hundreds of female owner-operators within the Women In Trucking community, many are seeking out creative solutions, practical tips, and resources that can help.

Here are practical, actionable tips to help owner/operators stay strong during tough times.

1. Master Your Numbers. Knowing your cost per mile is essential. You can’t run a profitable operation if you don’t know what it costs to keep your wheels turning. Track your fixed costs (such as insurance, truck payments, and permits) and variable costs (like fuel, maintenance, and food). Once you know your break-even rate, avoid accepting loads that pay below that number—no matter how tempting.
2. Focus on Costs You Can Control Without Cutting Corners. Small savings can add up. According to Bobbi Leach, Director of Branding and Communications at Expediter Services (ES), a leader in capacity solutions and ownership opportunities in trucking, ask yourself three questions:

• Are you consistently checking for the best fuel prices on your routes?
• Are you maximizing fuel discounts, rebates, and incentives available to you?
• Are you managing downtime effectively—whether it’s maintenance or unplanned delays?

Leverage fuel cards or use apps to find the competitive gas stops along your route. Keep up with preventative maintenance on your rig to avoid expensive breakdowns on the road. But of course make sure cost-cutting doesn’t sacrifice safety or legal compliance.

3. Diversify Your Freight and Customers. Relying on a single broker or type of freight can leave you vulnerable when markets shift. Don’t do it. Look into hauling different types of shipments—like reefer, flatbed, hazmat, or less-than-truckload (LTL). Explore direct freight opportunities by contacting local manufacturers, retailers or distributors. The more versatile you are, the more you can adapt when certain market sectors slow down.
4. Strategically Use Load Boards. Don’t depend solely on one load board. Use multiple platforms—like WIT members such as DAT Freight & Analytics, Truckstop.com or Uber Freight—to compare rates and availability. Don’t forget major third-party logistics companies such as C. H. Robinson or Landstar (also WIT members) that also may have load boards within their networks that are available. But beware of low-paying “bait” loads and instead look for opportunities to negotiate. Even if rates are down across the board, having more visibility gives you leverage and options.
5. Plan Efficient Routes. Empty miles are costly. Use route planning tools to avoid deadhead trips and maximize each haul. Consider using backhaul apps or coordinating with other owner/operators to share routes or loads. Efficiency is critical when rates are tight.
6. Invoice Fast, Get Paid Faster. Cash flow is king, especially in a down economy. Submit invoices immediately and consider working with a reputable factoring company to get paid faster—just be aware of the fees. If you work directly with shippers, offering a small discount for early payment can help maintain positive cash flow.
7. Level Up Your Business Skills. Being a successful owner/operator is more than driving—it’s running a business. Now is a good time to learn more about bookkeeping, taxes, fuel management, and load negotiation. Free online resources and low-cost courses can help sharpen your edge and keep your operation lean.
8. Stay Informed, Stay Flexible. Keep an eye on freight market trends from companies such as , fuel prices, and regional demand shifts. What’s slow in one region might be booming in another. Be willing to change your lanes or try new markets temporarily. Flexibility is one of the biggest advantages you have as an independent driver.
9. Network with Other Drivers. Don’t go it alone. Join WIT online forums such as Engage or the WIT Driver Facebook group to swap tips, stay in the loop, or learn about experiences with trusted brokers. Deb LaBree, Owner of Castle Transport LLC and Legacy Image Team member, recalls a situation in which she desperately needed a new turbo but one wasn’t easily available. She was able to tap into her network on the WIT Driver Facebook group to quickly find a solution. Read her story here.
10. Prioritize Health and Safety. Stress, long hours, and uncertain income can take a toll. Make sure you’re resting, eating well, and staying mentally sharp. You can’t make smart decisions or haul consistently if you’re burnt out or sick. Your health is your most valuable asset in a tight economy.

In addition, maintain a positive attitude – regardless of what’s going on around you. One beacon of light is Ingrid Brown of Rollin’ B who also currently serves on the WIT Board of Directors and is recognized by many as someone with “indefatigable good cheer in the midst of a rapidly changing environment.” She also has shared her challenges with cancer in an effort to encourage owner operators to monitor their health and regularly see their healthcare providers.

Final Thought

Economic freight downturns are tough—but stay hopeful because they’re also temporary. Owner/operators who focus on running lean, staying informed, and adapting quickly will be the ones who come out stronger on the other side. Now’s the time to treat your truck like a business—and steer it with purpose.

Related Articles:

• What About the Sisterhood in Trucking?
• 5 Habits of Highly Effective Female Business Owners
• Deb LaBree: Owner/Operator HERstory
• Manage Your Business or It Will Manage You
• Karen Noel: Owner/Operator HERstory
• Shirley Gray: Owner/Operator HERstory
• Women-Owned Businesses: Breaking Barriers and Driving Success

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