This story is the first in an occasional series examining different owner-operator-heavy fleets' leasing opportunities and structures. Is your leasing fleet exceptional in one way or another? Send tips for potential profiles to Overdrive News Editor Matt Cole.
The company is about two-thirds owner-operator and a third company driver. In 2013, the company switched to being employee-owned (hear more about LHT’s employee stock ownership program in a podcast from Overdrive sister publication Truckers News via the link). While the fleet’s owner-operators aren’t able to participate in the ESOP, current LHT CEO Jason Michels said the owner-operators leased to the company experience the pride the company’s employees take with their ownership through the support staff available to them.
“Having a support staff that is employee-owned, they definitely see the results of that through their dedication and work ethic,” Michels said.
One of the first things owner-operators ask about when looking for a carrier to lease to is, of course, compensation -- and Long Haul’s structure hasn’t changed in 20 years, Michels said.
Operators who use LHT’s fuel card with discounts get 87% of the revenue of loads hauled, while owners who pay their own way get 90%. The company also pays 100% of accessorials, including detention pay, layover pay, stop pay and more.
“I think the biggest thing for us is doing that allows our owner-operators to have the quality equipment and be the professional-type drivers we look for,” Michels said, adding that founder Daniels once told him if owner-operators get “the lion’s share of revenue, [the company] will reap the benefits for it in the end.”
