Carrier Profiles
Carrier Profile: Bolt Express
Basic Statistics
Toledo, OH is home to expedited carrier Bolt Express. It was founded in May of 2000 by four principal investors, two of who come from a trucking background. This privately owned company operates in the 48 states and Ontario, Canada.
Despite its proximity to the US/Canada border, the company estimates that it transports only around 10% Canadian-bound freight. Its main operating area is east of the Mississippi.
Utilizing a fleet of 100% independent contractors in cargo vans, 12' - 24' straight trucks. The carrier requires Commercial Drivers Licenses only for the straight truck and tractor drivers. The company provides cargo and liability insurance, with the owner/operator providing the non-trucking insurance.
Cargo vans must be 5 years old or newer, and straight trucks must be 7 years or newer.
Bolt Express transports a wide variety of freight including general commodity and automotive shipments. The automotive freight presently accounts for around 50% of the loads, but the company says that the share of this type of freight is decreasing as they continue to market non-automotive freight.
For communication with its fleet, the carrier uses satellite equipment, cell phones and pagers. Dispatch is accomplished using a computer dispatch system that is interfaced with their satellite systems.
Business Details
Kendra Grant, Manager of Business Development for Bolt Express, says that there are several key elements that separate her company from other expedited carriers: "Bolt Express is very service oriented. Every time we complete a new customer's shipment, we do a survey with that customer and see if we met their expectations. We will do whatever it takes to fulfill the customers' needs."
"We are also very pricing competitive. We want our customers to keep calling us for their transportation solutions and we want to keep our owner/operators busy."
Grant continues, "We don't treat the owner/operator as a number; we try to give our company a family feel. We have a program that helps the owner/operator if he is experiencing a run of bad luck, or if he has been running a series of short loads that has negatively impacted his revenue. In those cases, we will allow trucks to take a priority status on the dispatch board."
"We monitor the owner/operator's earnings, and we will sit down with the owner/operator to counsel them about finances, operations, etc. If we can help them operate their business more profitably, it benefits both the contractor and the company."
"Bolt Express maintains a true open door policy and will usually meet with a contractor on the same day they indicate that they would like to talk to management. We sincerely have a financial interest in our owner/operators and we want to see them succeed."
Grant says that Bolt Express is experiencing a growth period: "We have a great management team with expediting experience and a strong marketing program and we're seeing it's results through growth and the expansion of our operating areas. For example, we've been seeing some non-automotive loads to the Carolina's recently."
"Our turnover is extremely low; where some expedited carriers will experience 75% and higher turnover, we're below 30%. Our contractors are committed to this company - we have a great bunch of people!"
Grant says that "I believe that the keys to success for an owner/operator in this business are commitment and attitude; it sets a good driver apart from the rest. It's the driver's professionalism and the way they deal with customers in the office and on the dock."
Xavier Mundy is the Manager of Driver Relations for Bolt Express. He began as a cargo van owner/operator with the company before moving into the office. He expands on Grant's keys to success for a contractor with Bolt Express to include:
Being a business-minded personBeing safety conscious and compliance-minded, particularly in reference to logs
Being work-oriented and willing to run
From his perspective in Driver Relations, Mundy adds that in a larger expediting company it can be difficult to concentrate on the driver versus the problem, but with a more modestly sized operation like Bolt Express, "We try to fix the problem both for the driver and the company."
"We are honest with prospective contractors; we use no sales pitch. We have things to offer at this company, so there's no point in misleading any prospective contractor about Bolt Express."
The Package
Mark Heiges, Director of Recruiting for Bolt Express states that because Bolt Express is a smaller carrier, the contractors enjoy more miles and less sitting and waiting for the next load. "We do not have as much inter-company competition for freight, we keep the trucks running."
Bolt's policy in regards to outsourcing (brokering) loads to other carriers is that they will try every source within their own fleet before offering the load to another carrier. "Our goal is to load our own trucks first."
Heiges says, "Over hiring is not a problem because new owner/operators are recruited based on sales and sales projections. Whereas some carriers will recruit three to four trucks to have available for each load, we will recruit an average of one and a half trucks per load."
Bolt Express has a competitive package they offer to their contractors that includes:
-No up front sign-on costs.
-Centralized dispatch 24 hours a day, 365 days a year.
-Low dead head miles.
-99% no touch freight.
-Weekly home time
-More miles, less sitting time
-100 percent of fuel surcharge paid to the truck
IMPORTANT NOTE:
FOR A LIMITED TIME ONLY, ALL NEW STRAIGHT TRUCK OWNER/OPERATORS WILL RECEIVE $500 SIGN ON BONUS!
The company's driver qualifications are fairly typical of those found in the expediting business.
No more than three moving violationsNo DUI's
No felony convictions
Mark Heiges states that, "Our retention rate is outstanding in comparison with others in this industry, and we're very proud of that fact. Our contractors are happy, and they reward us with their loyalty.
He continues, "We have a personal relationship with our contractors and drivers, and we know their names not just their numbers."
"For Bolt Express and its fleet, it's a team effort. For example, we tell the new contractors and drivers in orientation that if, in their travels, they see potential Bolt Express customers, to let us know, and they are rewarded for their efforts. We help them to be successful, and they in return help us to be successful."
"Our fleet is composed of very astute independent business people, and we treat them with a great deal of respect. We couldn't do it without them. Today's Owner/Operators are much more sophisticated, with most of them having laptop computers in their trucks and they are very educated about this industry, so we treat them as business people."