Being a freight broker can be a lucrative career, but it requires avoiding these 10 common mistakes. Gross revenue: Gross revenue is what a freight broker charges customers, who are typically referred to as carriers. Gross margin is the difference between what a freight broker charges a customer (GR minus the cost of the transportation purchased or the amount a freight broker pays a carrier to move cargo). You can stay on top of business price trends, as well as current freight rates, through a handful of online resources.
More information about freight brokerage sales can be found in FreightWaves' popular sales program, Put That Coffee Down. Unlike many sales jobs, freight forwarders are typically paid based on gross cargo margin, rather than gross revenue. The SONAR platform is the only cargo analysis and forecasting platform that provides real-time information on the freight market based on actual tenders for freight contracts. Truckstop connects tens of thousands of carriers, carriers and brokers through a complete technological solution that includes comparison tools, load planning and tracking, TMS, real-time rate analysis and convenient payment solutions.
Today's freight brokerage market is full of opportunities, but taking advantage of the ease of getting started and simple licensing requirements doesn't guarantee future success. Getting into the freight brokerage industry requires some industry experience, as well as business connections, but that doesn't get brokers very far unless they're willing to put in the effort. One of the most important requirements for becoming a freight broker is the federal regulation that requires a specific license. This begins by recognizing the ten most common reasons why new freight corridors fail and how to avoid these pitfalls whenever possible.
Reliable brokers bridge the gap between these two things, using loading tables and other tools to ensure everything is shipped on time. For new and old freight brokers, having the ability to meet and build relationships with other industry professionals, including other brokers, is a useful aspect of business growth. You only get paid a commission, although major brokers will pay up to 70% commission on a broker's profits. Other expenses include transport management software (TMS), load matching tools (load tables), such as Truckstop, and a dedicated website.
