Featured Business: Sneed Leasing

Featured Business: Sneed Leasing

In 2020, Sneed Leasing had just modernized their fleet to include over 100 trailers that are 53’ ft dry vans in all the latest specs. However, local rental demand from traditional freight brokerage channels in Austin, TX still had this trailer fleet sitting idle nearly 1/4 of the time. Phil Sneed, President of Sneed Leasing, sought a solution to increase his fleet utilization and found so much more with COOP by Ryder.

Sneed Leasing joined COOP, and their business quickly became growth-oriented again. COOP, the commercial vehicle sharing platform, was easy to join. It gave Phil the confidence to rent out his vehicles because he knew that the platform was backed by Ryder. Additional peace of mind came with the fact that Renters are vetted by COOP’s team and that his trailers on reservation have access to 24/7 roadside assistance across the country.

“Our asset utilization rate increased from 76% to 98% thanks to the COOP mobile app,” said Phil.

Easy and consistent billing meant a dependable positive cashflow he could make a business plan around. Profits from COOP were quickly invested into additional trailers, which allowed them to dedicate more to the platform.

If you’d like to read more about Sneed Leasing's experience with COOP, you can get the full case study here.

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