Power Only Trucking headquarters

Find Truck Loads for New DOT Authority with Power Only Trucking

Power Only Trucking headquarters

There are many challenges you’ll encounter when starting out as an owner operator.

There’s getting your authority. Buying or leasing semi trucks. Hiring and insuring qualified drivers.

Another all-important step is finding loads so you can actually start making money. There are many hurdles one must clear, especially when you’re new:

  • Negotiating with brokers and customers
  • High capital investments
  • Regulatory requirements
  • Short term cash flow constraints
  • Long term profitability

On top of that, equipment is one of your biggest expenses. Not only do you have to buy trucks for your fleet — but what about trailers for hauling the cargo? Buying your own trailer does give you a great deal of control, but also comes with a number of potential pitfalls:

  • You end up with lower pay velocity and cash flow.
  • It can be expensive to get financing.
  • You are solely responsible for getting your own road assistance.
  • You are responsible for finding shops and footing the entire cost of repairs.

Power only trucking is one option you may have heard about that can help you meet the dual challenges of hauling more loads and minimizing your costs.

Let’s learn more about how power only works and how it can benefit you.

What is power only?

Power only trucking is an arrangement that can yield greater profits, time efficiency and ease of transportation for carriers and customers alike.

It involves a carrier or driver with a truck, and a customer with a trailer loaded with product that needs to be delivered. If you’re a small carrier or independent owner operator, power only gives you more loads to haul and fewer trailers to buy.

While almost any type of cargo can be delivered under a power only agreement, it is commonly used for large goods like moving equipment on a flatbed trailer, shipping containers, dry van trailers, refrigerated vans and tanker trailers.

Power only offers a number of possible benefits for carriers and customers alike.

Carrier advantages:

  • Consistent cash flow and higher net profits
  • Avoid the costs of owning and maintaining more trailers — including monthly leasing and insurance fees
  • Efficient way to meet customer demand
  • Greater driver satisfaction

Shipper/customer advantages:

  • Faster
  • Cost effective
  • Avoid the cost of buying and maintaining more trucks
  • Flexible capacity with drop-hook trailers to load
  • How does Prime Inc.’s Advanced Fleet Power Only Program Work?

Prime Inc. offers an Advanced Fleet Power Only program that gives carriers access to Prime’s existing freight network with loads on a regular basis.

In other words, the carrier supplies the trucks and drivers, while Prime supplies the trailers and cargo.

Participating carriers enter a brokerage agreement and execute a trailer interchange agreement with the Advanced Fleet Program.

  • The carrier retains own authority and independence, and earns up to 77% of the line haul rate plus fuel surcharge.
  • The carrier gets access to Prime’s trailer pool, which averages less than 2 ½ years for productivity and efficiency.
  • Prime Inc. provides sales and marketing efforts.
  • The carrier gets a Prime Inc. fuel card for deep discounts, and 24-hour access to an onsite fuel network to troubleshoot problems at the pump.
  • Prime provides roadside assistance for emergencies and non-emergency problems, and a 24-hour support network for reload night coverage.

What are the benefits of Prime Inc.’s Advanced Fleet Power Only Program?

For carriers, the Advanced Fleet program yields three primary benefits:

Cash flow. Prime Inc. advances wages as needed and settles weekly on any trips completed that week at no additional cost.

  • Carriers often factor receivables at costly fees to accelerate cash in. This is to keep the trucks moving along with substantial equipment payments, and to meet the high cash demands of variable costs like driver wages, fuel and shop bills.
  • When participating carriers buy fuel on Prime’s account, the expense doesn’t come out until the trip pays.

Profitability. Carriers benefit from a number of discounts that Prime passes on, both directly and indirectly.

  • Fuel discounts on Prime’s account are some of the biggest in the industry and are directly passed on.
  • Prime offers fuel-efficient new equipment and invests in features to boost profitability. Wide-based tires, trailer tails and skirts, door switches and more make our fleet more profitable and accrue to independent contractors and carrier partners who share our trailers.

Utilization. The Advanced Fleet program offers a large fleet of new trailers and drop-hook customers.

  • This maximizes uptime with trailers, as new equipment is more efficient and spends less time in the shop.
  • In the event of a breakdown, Prime’s 24/7 road assist service department has a vast network of shops to get trucks and trailers fixed and back on the road quickly.
  • Freight network density gives Prime the ability to overlay freight among all available trucks. This optimizes the driver’s available hours with appointments and transit times.

 

Participating carriers must meet the following requirements:

  • Motor carrier authority
  • DOT number
  • Auto liability insurance
  • Cargo liability insurance
  • Non-owned trailer interchange insurance

Is power only trucking the right path for you to get on the road to profitable loads? Learn more by contacting Advanced Fleet online or calling us at 1-800-891-7277 or 1-844-253-6580.

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