Ryder System, a Miami-based transportation and supply chain company, announced it’s expanding its peer-to-peer truck sharing platform, COOP by Ryder, to North Texas. Dallas-Fort Worth joins Georgia and Florida as the third market for the service, which allows commercial vehicle owners to rent trucks and trailers through Ryder’s network of trusted businesses.
“The Dallas-Fort Worth area is one the largest trucking markets in the United States and as COOP gains momentum, so does our customer base. We are proud to now offer Texas businesses and fleet owners the opportunity to generate revenue from their idle vehicles,” Rich Mohr, chief technology officer for Ryder Fleet Management Solutions, said in a statement.
The COOP platform has grown with the launch of its mobile app. Mohr said entering the Texas market was backed by the platform’s success in Georgia and Florida and the app making it easier to share equipment. Through the digital platform, fleet owners list vehicles, set availability during idle periods, and are paid through Ryder for rentals.
Businesses don’t have to be Ryder customers to list vehicles on the platform, but they do have to undergo a vetting process on safety and reliability standards. The COOP platform also includes an on-demand liability insurance product offered through a licensed insurance partner.
Bowman Trailer Leasing is a current COOP participant in Georgia and Florida and plans to begin providing its services through its Dallas operations, too. A benefit of operating in multiple markets is gaining repeat customers such as one customer using the platform across its operational regions such as Bowman Trailer Leasing.
“Our experience with COOP has shown us the benefit it can bring to our business, so we are excited to use it to help us tap into the Dallas-Fort Worth area—an already very profitable market—in new ways,” Leonardo D’Agostini, Business Development, Bowman Trailer Leasing, said in a statement. “COOP makes it easy to convert our idle vehicles into an alternative revenue source, and now the app will make it an even more seamless process.”
COOP currently generates an average of $3,000 a month for a single straight truck and $4,000 a month for a sleeper trailer. More than 1,300 businesses have joined COOP by Ryder so far.
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