Freight market making Prime Inc lease model unstable?

The #PrimeInc lease model works well when volume is holding and gross per truck remains intact. But if that gets shaken there are big problems.

[@ernestwils1985]

I just left prime because of this. I’m now a Walmart private fleet driver!!

[@txbassman2001]

I 100% agree, my rates haven't been that bad, it's just the amount of extra time under load and waiting between loads that's killing me.

[@YeahNah100]

I have been running my ass off solid for the past 3 years. Drop n hook. Dry van general freight. Bought a 2021 KW in that time. Small town company with history dating back to the 1950’s. No micro management. No critical event nonsense. I get home when I want. I could go on but it has been interesting and sometimes a real head scratcher watching KZbin truckers. I can’t deny that the real ones (companies and drivers) just won’t be found on KZbin. But we appreciate all the entertainment. C’mon.

[@B_DUBZ_C]

You hit The nail right on the head I did 3 loads this week and my take home is that of a volunteer worker OTR: 4/4 eeks lease payments 3/4 weeks take home

[@DriverLineup]

Yep

[@User4622Vp]

I left. I'm a private fleet driver now, OTR, fuel where I want. Awesome pay and benefits, retirement. Screw lease.

[@faulkner146]

So I don’t think rates have actually changed much. Brokers are just keeping a lot more because they know idiots will run for less.

[@BigMoney23223]

Yeah man, same exact situation here. It’s hard running my clock right like I’m used to, 3/4 average hours of drive time gets annoying for recaps. It’s nice to be able to catch up on gaming and stuff like that, but it’s also annoying to be guaranteed sitting for a day each load

[@jimmycagnee65]

I work as a Knight company driver OTR and yes, we aren’t getting pre planned until day of drop on current loads and yes I’m sitting for 10-14 hours waiting for loads. I’m barely breaking even on my income to debt ratio. My biweekly expenses are sometimes more than my paycheck. In other words, I’m paying to live in this company truck most of the time.

[@JennaOnTheRun1776]

I am so sorry Jimmy. Hope it gets better for you 😢

[@stevespriggs3302]

I feel like prime could help out with the profit margin for its lease drivers. I am contracted to a private company since 1984 this freight market will level back off. It goes up and falls down. More companies will close the doors and the market will improve. Stay safe

[@RiZenAsH]

I’m dealing with the same bs. It has me afraid to jump ship to another company because they’re likely going through the same thing and I might be worse off than I am. I’m looking for a regular job that pays hourly at this point and getting out of trucking altogether. I need some consistency because this sh*t is stressing me out.

[@DriverLineup]

I feel you on that

[@midlifetrucker-thombell4722]

The biggest mistake you can make, in business, is focusing on RATE. You don't pay your bills and expenses based upon rate, you pay it based upon week or month. A company can hold to the "No cheap freight" mantra all the way to the bankruptcy court. You are right, there are mega carriers who are actually losing money right now, but there's more to a business plan than how much you are making today. I have no doubt the 300+ truck carrier for which I am working is not making what he made in previous years. He might even be losing money this year. What he's not doing is making his drivers bear the cost. This is the time to be building relationships, focusing on service, improvement, etc.

[@dustinanderson4809]

Absolutely man... Rates haven't changed much, it's all the sitting around that's killing us. Too much time on the load and too much time between loads.

[@lonewolf5316]

I never understood the concept of paying for other peoples assets and funding there lifestyle. much better off buying a decent used truck. it's bad all over right now

[@midlifetrucker-thombell4722]

You could get $5 per mile, but if at the end of the week/month/year you don't make enough to get ahead, it won't work. Step back, look at the big picture. There may be some loads that are at your cost or even at a slight loss, but what matters is the WHOLE picture. As you hit on it, volume is important, so is capacity. Focus on staying profitable based upon the week/month/year and building the relationships. Eric, I'm not trying to troll you. I'm a business man who drives a truck not a truck driver who is trying to run a business. Five years ago, I was a Senior Vice President in a boardroom hating every day at work. I have seen way too many out here who think like truck drivers, not business people.

[@ruffneck9711]

You must be in Oklahoma That travel plaza is awesome

[@DriverLineup]

👍 yep

[@jdon09]

The school is packed at prime … they’re still hiring tons of new drivers still .

[@TruckerKearsey]

I'm on a minifleet and I am constantly preplanned. I am not sitting. I ran 3100 miles this week. 72 TNTs are waiting for trainers. Current TNTs are now upgrading early. In Oct when the hundred thousand drivers lose their CDLs, the market overcapacity will shift again. Smithfield is selling to China... Tyson is closing plants, tyson chicken suppliers are turning over to egg production.. so we will see a shift in that. Stay safe all

[@GrimReeferTrucking]

I work for Prime and I don’t remember the last time I got a two dollar a mile load my loads have generally been between $1.30 and $1.70 a mile

[@dtajr73]

i’m sitting at least a day sometimes 2 days waiting on a load. dropped a load in WA wednesday morning, got a preplan picking up friday 602 mile deadhead to buhl Idaho, drops in soringfield mo monday, paying $2500, that includes fuel surcharge. it’s crazy.

[@Realpapergetter87]

It’s starting to pick up for me. Been getting loaded same day after delivering for the last week

[@obryantandsonllc2468]

I been getting short loads between 150 to 500 miles no dead head every one of them been like 2 or over a mile I been impressed with pay on thoses loads and I try to keep my fuel down like 500 to 600 for the week off 3 to 4 loads short getting 5k gross to the truck and I be surprised to get a load preplan on me before I get finished with my load I’m on and next day delivery on all loads weather there drop or live

[@scotttaylor2917]

Looks like Gore's Travel plaza, couple hours north of home, it was owned by the same guy that owns Gore Nitrogen, they're big oilfield company

[@DriverLineup]

That was it!

[@MrDpboggs]

Prime will starve out the drivers they want to leave. They always have

[@supertruckertom]

Are your Gross Revenue numbers after fuel or after fuel and truck expense withholding?Those gross rates are low. I follow our loaded revenue and it is easily $20k per week in LTL team runs. I am a company driver that does East to West Coast and back every week. Our dock supervisors would get in trouble if they cut a trailer with less than $5 per mile loaded revenue.

[@TruckingwithTom]

Nobody wants a student when you pay for their wages and they can’t keep you moving

[@jeremydunman4964]

Agree with everything u said. Getting good rates volume down loads down rates are staying about the same. Sitting hell of a lot.

[@jeremydunman4964]

Yes I agree!!!!! Sitting over 10 between ever load!!!!

[@ericgriswold5900]

Out in Oklahoma love that spot

[@GabrielGomez.]

The “Juice Place” 😂😂.. Im from Miami I don’t mind doing a 13 stop plants load as long as it is not the Juice place 😂. Prime is Solid off course is not 2021-2022 but im staying as long as it is profitable. Thanks for the video. ✌🏻

[@chrisboling90]

I’m confused on rates with prime dont they have set contracts that don’t change till renewal? Maybe just giving drivers less pay more profit for them cause they have the drivers to take the low pay?

[@scotttaylor2917]

I can't hardly get anything above 1.50 for the past month, my wife and I run teams and we don't hardly have any layover time

[@DriverLineup]

That’s what I hear about team freight

[@ftlnetwork6067]

Spot is terrible right now and im flatbed. You can get lucky with three dollars a mile out of certain places though.

[@Mo-dp3wv]

You are speaking Facts driver and this coming from a 24 year driver here at Prime

[@truckshootlove]

100% agree.

[@reallabigz4358]

Got to no the lanes..

[@andrewstoops5879]

PS:Too many Trucks which Mean too many Drivers!

[@412hwc]

did u bum a tooth picc off one of tha local bull haulers...u kno for energy

[@DriverLineup]

Lmao. No mine are “plain”

[@superc910]

What’s your driver code? I want to use you when i apply for a job at prime🏆

[@jimc8802]

Here 🎉

[@412hwc]

also zyn gives the worst head ache i got to use those on nic patches and i double up on tha 4mgs like 4 times and hour😂😂 nothing is helping my ciggeratte cravings tho...idk what else to do.

[@mrb5367]

Bidenomics

[@roguesovereignrogue9124]

If your volumes, not enough, it still ends up being the same thing not enough money. That said it is incredibly expensive to live. Like a middle-class American now. Incredibly expensive. Rates should never go down. All truckers should tell them to fuck off.

[@codyfolsom365]

They proposed a load at $1.20 with fs included in the 1.20

[@reallabigz4358]

I, too, have been 2.00 and more..

[@lennymcgarvey3004]

I must disagree.?I run just as many trips as you and your fleet. Getting a 2 dollar a mile trip is like hitting the lottery now days. A lot of BS rates. You have an advantage over most drivers, load choice. Take that away and then let’s talk. If im struggling to make money, it’s BAD.

[@DriverLineup]

I’ve heard that about team freight. But I don’t run team freight. Just saying what I’m experiencing on the solo side.

[@DriverLineup]

I would also add my truck is load choice but my fleet isn’t. And those loads still pay what mine do in terms of rates. LC doesn’t give me an advantage on rates. No different than a preplan from sales. LC only gives me an advantage of not waiting for a load to be sent. But they’re still next day loads.

[@bankskids]

I'm definitely applying elsewhere to leave

[@MrMunoz-xp2ry]

cheap freight carrier for prime? No, just a terrible lease op program.

[@ronaldsondergaard1867]

Prime laughing all the way to bank

[@DavidLopez-rc2lx]

Where is that Sonic?

[@DriverLineup]

That was in Oklahoma. I think it was called Gore Travel Plaza or something like that.

[@christopheredward8837]

You know what I find weird lately everybody but prime drivers Hauling prime trailers 🤷🏻‍♂️

[@user-jc7vf6gh2f]

Are you guys beaking down a lot? Every place I've ever worked at, the shop can't keep up. All this DEF shit, I'd never own my truck for that reason, almost every time I've broken down it's been DEF related. Also I believe a lot of foreigners are taking loads for cheap, bringing down the rates

[@Wasupup]

You lost at 4:00 mark. Too much bs coffee talk. Adios

[@DriverLineup]

Later

[@B_DUBZ_C]

Damn you Donald Trump