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A freight brokering business finds clients in need of shipping cargo, and then locates carriers for transporting the cargo. They generate commission for making the exact and most beneficial match for all parties involved.
Freight brokers are also known as transportation brokers, property brokers and truck brokers. The freight brokering business is a very profitable business, and may be the ideal small business opportunity for you.
How to Get Into the Freight Brokering Business
Most businesses prefer to ship their cargo or merchandise through a freight broker, because shipping costs are lower than trying to manage and fund a transportation service with full staff and other additional costs. When companies use freight brokers, they just pay them when needed with no additional requirements and obligations.
Your goal as a freight broker is to prove to companies that you can get their shipments delivered on time, and at the lowest possible cost. You will then need to contact transportation services and work out a deal for having the cargo shipped. You negotiate the price, and set up the delivery date for the company requiring shipping.
You home based office needs to be fully equipped with a computer and internet service, fax and phone. You will have to set up a reliable filing system, to that you can keep your client's information organized. Also, you will need to work diligently to make valuable contacts with transportation companies whom you can count on to provide you with transportation services when needed.
Skills Needed:
When starting a freight brokering business, you must have stellar people skills so that you can effectively deal with customers and carriers.
Excellent negotiation skills will allow you to make the best shipping deals for your customers. A very resourceful freight broker can also locate the most reliable, yet cost-effective carriers and shippers.
Marketing skills will allow you to build a healthy client base of companies who regularly rely on your freight brokering business to handle their shipping needs.
Business management skills will be useful for keeping your freight brokering business organized, cost efficient, on schedule and profitable.
Experience Needed:
Past work experience as a freight broker will be extremely useful when starting your own freight brokering business. If you lack experience, you may consider apprenticing at a freight brokerage firm for a period of time prior to starting your home business.
Any sales and negotiation skills will be useful in your freight brokering business.
You may also consider investing in quality freight broker software programs to help you set your business on the right path.
Startup Requirements:
Your initial investment when starting your own freight brokerage business will be in setting up your home office.
You will also want to invest some time and money into an effective marketing and advertising campaign, so that you can get your business up and running. Soon you will be making deals and shipping freight from home with your own freight brokering business.
Resources:
Useful Links for the Transportation Industry
Transportation Intermediaries Association (TIA)
Be Sure to visit our Business Start Up Guide for information on starting your business
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