International freight aspirations ‘magically’ lead to South Florida. Commerce through South Florida ports makes up nearly half the nation’s trade to Latin America and the Carribean. It’s a geographically prime gateway to the country with interstates guiding transit along the coasts. With all this trade and business flowing through the city, it’s no wonder that Miami has grown to be the largest metropolitan area in the southeastern United States.
Miami, the economic heart of South Florida, enthusiastically received the first-of-its-kind commercial vehicle-sharing platform. In January of 2019, COOP by Ryder launched into Miami and was met with enough successful transactions to fill-out 60 Januaries worth of trips for a truck. As COOP’s platform becomes more popular, owners are seeing an increase in average earnings. Our metrics-based sneak peak beneath the surface, where there’s a lot more going on than coco frio and cafecito, provides a refreshing look at this vibrant market.
When it comes down to it, South Floridians are looking to close deals and turn profit safely on tight deadlines. Can’t really blame them as they do business in one of the most densely populated locales of the U.S. where freight opportunities are as plentiful as they are competitive. The state prompts a wide diversity of needs, from global to national over-the-road customers and from Wholesale Trade to Business Services with everything in between. This is reflected in the preference for the versatile International and Freightliner vehicle models that COOP customers rented throughout 2019.
COOP’s month-by-month rental trends indicate high demand for all vehicles throughout the holiday season months. Peak months like January, March, and April are expected to carry over from the bustling fourth quarter of the year. An average of 24 rental days per COOP transaction shows a strong tendency to rent vehicles long-term. This presents an opportunity to lock-in a stable profit margin out of idle vehicles that may have sat for the month otherwise. Our Airbnb-like commercial vehicle-sharing platform representatives secure this innovative solution to the problem of idle vehicles.
Practicality reigns in this market, which often sees cargo to and from ship bays or plane cargo holds. This freight routinely tours its way up and down the state along lowland I-95 and I-75. Tractors and trailers carry many of these loads and share the bulk of rental days between them, but are not necessarily rented together from the same company on COOP’s platform. Trailers have a stronger showing toward the winter months while tractors are popular throughout the year. The demand for these models is expected to uphold through December of 2019, building momentum along with the improving availability, proximity and price for the South Florida community on the platform.
Marathoners get off the blocks quickly at the starting line, and that’s definitely the case for our metro Miami frontrunners.
Bowman Trailer Leasing, a leading trailer rental company along the U.S. east coast, was one of the first to join the COOP by Ryder platform when it landed in Miami this year. Their curated selection of trailers, from dry 53’ trailers to flatbeds, makes them a mainstay sharer. The daily rental program gave Leonardo D’Agostini of Bowman the flexibility he needed to get his trailers out into the marketplace during slow periods. Bowman Trailer Leasing is engaged by the expert COOP sales team, as they successfully generate incremental rental income for the business.
Their success with COOP in South Florida led them to make new divisions of their standing fleet accessible on the platform when COOP launched into the Orlando market. We’re looking forward to continuing to facilitate cargo in The Sunshine State together, bravo!
From growth in the food industry’s demand for freight, interest rates remaining high for the time being, fluctuating truckload rates, and other trends, the summer sees activity heat up, and it’s essential to be aware of these key topics.
This blog covers various commercial vehicle rental developments and historical stats you need to know, including whether we can expect an uptick in demand in Q3. To manage your fleet needs effectively, tools like the COOP by Ryder platform help businesses gain the flexibility to optimize fleet use. Read our complete guide for more data and insights to help your business make informed decisions about the transportation market in the third quarter and beyond.
Download our complete guide to read more about these topics and for additional market insights.
Based on historical rental trends over the last few years, we expect the Food & Beverage to see very strong activity. Additionally, moving companies have plenty of activity with local and cross-country moves until summer’s end.
As the holiday rush of Q4 approaches, keep in mind that many businesses will look to secure additional fleet capacity to move inventory toward the end of this season.
Take a deeper dive into these solutions and how they could help your business. Get the Q3 Rental Guide.
Having the right amount of vehicles for your business can take time and effort during the summer months. COOP helps Renters source equipment by finding available commercial vehicles from other trusted companies on the platform.
Whether you have a large or small fleet, listing idle vehicles on the COOP platform can improve utilization, cover transportation costs, and increase your bottom line in Q3.
Start your journey and sign up for COOP. With the assistance of our team of professionals and cutting-edge technology, you'll have access to an innovative platform with tools that businesses across the country are using to create extra revenue or increase their fleet capacity.
To learn more about the market conditions this summer and gain additional knowledge and statistics, get the comprehensive Q3 2023 Commercial Vehicle Rental Market Guide today!
Managing commercial vehicle rentals efficiently is vital for businesses. That's why we've developed a user-friendly dashboard to get rental information quickly and help streamline your experience. Whether you're a frequent Renter or just getting started, our Renter Dashboard is designed to give you greater control and visibility over your rental activity on COOP.
If you’ve had rental transactions on the COOP platform, you can see and download your statements with just a few clicks. Here’s how:
1. Click the Get Statements button from your Renter Dashboard.
2. Your renter statement overview will open displaying your summary of charges.
3. Filter the statement(s) you need by reservation or date range.
4. To download the page as a PDF, right click anywhere in the top portion of the page. To download the page as a csv file, right click the reservation and select “Export”.
At COOP, we're dedicated to helping businesses succeed by streamlining logistics and transportation needs with our technology-driven commercial vehicle rental and solutions platform. This new Renter Dashboard feature is another valuable tool to helps Renters on their journey to success. Stay tuned for more features coming soon!
Ready to get started? Apply for an account today!
Have an account? Check out your Renter Dashboard.
Looking to rent commercial vehicles in bulk and unlock the possibilities for your fleet needs? We're thrilled to bring you a new, significant feature designed for businesses that are looking for multiple rentals at once. You can now request multiple vehicles on the platform when searching for them.
To use this new feature and request to rent multiple vehicles of a certain type, click here. With a few clicks and a little bit of info, you're on your way to getting the vehicles you need. You’ll be able to customize your requests based on vehicle type, price point, specifications, rental periods, and more, all in one go. Once you submit a request, our team will connect with you to set up the reservations.
Watch this video clip to see how it works:
Finding extra capacity and optimizing fleet use shouldn't be a middle-of-the-road experience, and with COOP, it's anything but. We understand that seasonal demands, special events, excess inventory, and many more impact the need for finding several vehicles right where you need to pick up and haul your loads.
At COOP, we take pride in providing reliable service and innovative solutions for your commercial vehicle rental needs. The introduction of the Multi-Vehicle Request feature is just one more way we're committed to elevating your experience with us. Start renting today and discover how to enhance your approach to bulk rentals and empower your business for success. Stay tuned as we share more new features in the coming weeks and months!
The busy moving season is here! Many individuals, families, and businesses choose this time to relocate due to favorable weather conditions, school breaks, and the availability of free time. Whether your company is in the moving industry or not, this time of year presents a significant opportunity to expand your customer base, maximize fleet utilization, and find ways to generate higher revenue.
On the COOP by Ryder commercial vehicle sharing platform, companies can build relationships by connecting with a community that provides access to rent or list vehicles all at their fingertips. In this blog, we’ll cover some trending stats, tips for planning, and more. For an in-depth look at some moving industry insights and tools to effectively manage fleet demand, read our complete guide.
Here are a few stats that show the direct connection between transportation and the moving industry.*
Read our guide for more facts about the moving industry.
Preparation is key to ensuring a successful peak season. Even if your business is not in the moving industry but has commercial vehicles sitting on a lot somewhere, exploring plans for maximizing fleet utilization can lead to practical solutions that can move the needle and increase profits. Here are 3 tips on what you can do to remain competitive:
· Embrace flexibility
· Keep up with new tools
· Adapt to the market's needs
Using the COOP platform provides helpful resources and options to plan accordingly and keep your business moving.
Depending on the size of the job, a wide range of vehicles are needed to have sufficient space and capabilities to transport belongings. The following are some of the most commonly used vehicles during peak moving season:
· Box Trucks
· Cargo Vans
Want to get more specifics about these vehicles? Read our guide for more details about each one.
There are many ways businesses can take advantage of a revolutionary commercial vehicle sharing community like COOP during the moving season. With our innovative tools, we’re helping businesses overcome challenges and optimize fleet utilization. By registering for an account, you can get access to thousands of commercial vans, trucks, tractors, and trailers available for rent in your area. Plus, companies with idle equipment can list their vehicles to earn thousands in additional revenue.
Download our complete moving season guide now to get more insights!
*Sources: American Trucking Associations, Forbes, IbisWorld