October 14, 2019
Atlanta is the ‘cardinal’ city of people who dream big. Citizens of Atlanta had the foresight to build infrastructure that established a cradle for commerce. Richard Peters, who developed the railroads, and Evelyn Howren, who lobbied for aviation initiatives, were leaders with great vision for the city. From that inception grew some of the largest enterprises we know today: Coca-Cola, Chick-fil-A, and CNN. Fast forward to 2018, and the metro Atlanta area had the fourth largest population growth in the country.
In March of 2018, COOP by Ryder launched operations in Atlanta. Welcomed by growth-minded locals, the digital platform where businesses connect to share commercial trucks, tractors, and trailers had great success. The platform found many savvy owners and receptive renters in and around the city. Our experience continues Atlanta’s legacy as an incubator for innovation in transit: see our most recent expansion to Orlando. Let’s take a behind the scenes look at this market’s transportation needs for these last months of the year.
Our insight, based on Ryder’s & COOP’s transaction statistics, shows peak rental-days in the fourth quarter of ATL last year, a trend anticipated to make a comeback in 2019. Your Airbnb-like marketplace for business-to-business freight vehicles has returned its first year of owner earnings statistics. A fit for this transit-centric economy. In the fourth quarter of 2018, the total amount of rental days far exceeded expectations for the transportation industry and proved Atlanta’s burgeoning nature.
The average rental in 2018 for Q4 was out for 17 days, showing the demand to take on a steady nature throughout this season particularly. There’s great potential when owners are connected to network of renters right next door. The impression is that one could add over two months of profitable days, considering the standard of 4 safe transactions per owner. Our data anticipates high activity in the Atlanta’s transportation industry for the last quarter of the year, so why should your idle equipment sit in the yard?
The fourth quarter leading indicators show expansion in the holiday season purchases that require transport. Top Atlanta industry trends towards more Food and Beverage needs in the fourth quarter, reflected by the surge of long-distance Freightliner models. Fresh food makes the feast. Non-durable goods make up the greatest portion of cargo needing freight, making refrigerated trucks a highly desirable asset.
Those who’ve joined have been sharing more with COOP, increasing the number of vehicles they make available for rent on the platform. Tractors, particularly the sleeper models averaging $149 a day, made up the bulk of rental days at 43% during Q4 2018. Though the earning potential of day cabs isn’t to be understated, as they average a $125 daily rate. One fourth of owners post a variety of equipment on the platform. We hear from rental customers an expectedly cyclic desire to also see more straight trucks for their holiday hauling.
Your Atlanta neighbors mobilized their idle vehicles and created a new revenue stream through joining the COOP platform during this same time last year.
Sutherland’s Food Service, a family owned and operated foodservice distributor just off of interstate 75 in Forest Park, Georgia, was one of our top earners for Atlanta. Their location and assortment of vehicles plays a huge part in their gains on COOP. They’ve been able to leverage the platform to bolster their monthly revenue as well as develop new business partnerships locally.
Gene Sutherland has found success on the platform through the experts at COOP. The process of listing his vehicles was straightforward and he’s been able to keep his equipment active in the Atlanta market throughout this past year. We look forward to continuing to fill the needs of our community together, cheers to you!