Why it matters: Aggressive recruitment from new entrants in the frac supply chain can signal shifts in the competitive landscape and rate/cost structures. Drivers are a hot commodity and in short supply.
What’s New: Several weeks ago, we flagged a new entrant in sand hauling: 5f. The app-based hauler was formed in March and is now in aggressive driver recruitment mode.
Details: On the company’s Facebook page launched about six weeks ago, a steady stream of video posts show owner operators giving glowing testimonials about the company. As of this writing, the company’s latest post states:
“Watch this video of one of our drivers getting paid for referring a friend to 5F! Our old plan paid $1,000 – but we’re NOW TRIPLING THE BONUS TO $3,000!
Make $3,000 for every new Owner Op you refer to 5F BEFORE May 4th, and also help your referred owner operator make $3,000 for signing on! “
Here’s one of the videos showing a driver with a handful of hundreds…