Posts Tagged ‘freight brokerage business plan’

How to Start a Freight Brokerage Business

Looking for Capital to Start Your Business?

Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

How to Start a Freight Brokerage Business Business Overview:

If you’re tech savvy and you possess strong communication and organizational skills, learn the logistics of how to start a freight brokerage business. The business itself is similar to any brokerage venture whereby you are the go-between for a buyer and a seller, but the unique requirements of an operation like this call for a solid freight brokerage business plan in order to succeed. So here’s what you need to know: As a freight broker you will connect businesses that need goods shipped with trustworthy, authorized carriers. Your job is to play Cupid with the two businesses and ensure that the transaction between them goes smoothly and that both parties are happy with the results. You get paid a commission to be the facilitator for their relationship. Again, if you’ve got good management skills you might be ready to start your own freight brokerage business, but you will definitely need to learn the particulars of the shipping industry. You will also need to gain contacts on both sides of the shipping business—carriers and clients—so you have key people you can count on to make your job easier. The best part of this business idea is that all of the relationship building and logistical organizing can be done from your home office with your computer, telephone, and fax machine.

A Day in the Life of a Freight Brokerage Business Owner:

Your typical day will consist of keeping close contact with your clients to make sure that all of the details are in place for the upcoming ship date. This might require you to place multiple phone calls and/or email to get everything set in stone. You will also want to ensure all parties have signed off on the contract or surety bond you will have put in place outlining the details of the transaction. In the meantime, you will also want to secure future business—this is where your company’s good reputation and word-of-mouth will serve you well. You might also consider advertising your brokerage service if you need additional clients. It’s likely some days will be filled with communication and operational details while others will leave you with plenty of free time to spend as you like.

About Your Customers:

Customers of a freight brokerage business will be companies that have goods to be shipped and cannot or do not want to worry about the shipping details, as well as authorized shippers who can provide the service for a competitive rate.

What You Need to Start:

  • A business license
  • Business insurance
  • A business contract or surety bond
  • Home office equipment
  • Clients

The Good:

  • You can work from your home office.
  • Startup costs can be minimal, especially if you don’t formally advertise.
  • You can broker as many deals as you can handle.
  • Once you have solid carriers in place it becomes quite easy to match them up with the right business.
  • The business can be very lucrative.

The Bad:

  • You might have to work very hard to get your first clients.
  • The business can be stressful, not only in managing your clients’ transactions but also ensuring you’ve taken care of all the details effectively.

Resources:


Start This Business Today:

To start a freight brokerage business today, we recommend you purchase Success Strategies to Build Massive Income as a Freight Broker, a comprehensive e-book that includes manuals, video presentations, and handouts to help you learn the business quickly. For more information or to purchase this HIGHLY RECOMMENDED book, click here.

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