New Guy wants to be a broker

Discussion in 'Freight Broker Forum' started by mttrux, Jan 23, 2011.

  1. mttrux

    mttrux Bobtail Member

    2
    0
    Jan 23, 2011
    Dent, Mn
    0
    Just hoping for some advice and maybe some help.

    I'm a 55 yo retired Marine and cancer survivor. I'm hoping to start my own "freight broker" business. I've done the research on the MC license, surety bonds etc.

    I've done a lot of things in my life I think would be useful in this business; I'm pretty mechanically inclined and used to be a master hydraulicsman. I got my FAA Airframes and Powerplants license back in 1992, I have worked in the granite industry, and started and owned my own Custom Timber Frame Home business until the economy took a digger. I'm very computer literate. I can find out just about anything, anywhere. Loads, truck parts, prices, directions, load restrictions, and or where is the closest whatever

    I'm not able to do much of anything physical anymore. I have this laptop on my lap about 12 hours a day. I have unlimited internet and wifi access and if you have an onboard computer, blackberry iphone or android phone I can send you anything and everything right to your truck. I'm not looking to get rich here, my wife is working two jobs and with my retirement we are just barely getting by. I just hoping to be able to use my skills and work with people to help make a living.

    My server is still up and running and paid in advance for several years yet. So if this works I'll have my own website and email address's for customers and lots of online services that will be free.

    Any thoughts or recommendations would be great.

    Thx
    Mike
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Crash935

    Crash935 Medium Load Member

    329
    163
    Sep 8, 2007
    Wyoming Mi
    0
    A broker needs his own customers and $$$ to pay the trucks after they do the work. The larger companies can wait the 90 to 120 days its going to take you to get paid by the shipper but the O/O's sure cant. Without your own customers all your doing is re-brokering loads of a load board and taking $ away from the truck.

    Have you looked into becoming a agent for someone like landstar or universal where they already have a customer base?
     
  4. lil may

    lil may Road Train Member

    1,302
    702
    May 25, 2009
    0
    Best of Luck to you it is a job where you are not going to make a lot of money
     
  5. mttrux

    mttrux Bobtail Member

    2
    0
    Jan 23, 2011
    Dent, Mn
    0
    I'm not looking to make a lot of $$ anything extra would be up from where I am right now.
     
  6. Rerun8963

    Rerun8963 Road Train Member

    3,917
    2,012
    Mar 30, 2006
    ova-hereee
    0
    continue checking online for broker training. if you can get to a truck stop pick up some of the free magazines and truckers newspapers for more information as well.

    this could very well be a very nice path for you to follow, and you can only grow in time...

    good luck to you.
     
  7. celadontrucking

    celadontrucking Light Load Member

    127
    114
    Jan 18, 2011
    Indianapolis Indiana
    0
    Best of luck to you, where i work now we have our own broker dept which is seperate from everything else we do. we have like 10 brokers, I must say that after observing these guys they do have a tough job. I do wish you the best of luck and hope you succeed.
     
  8. Lilbit

    Lilbit Road Train Member

    16,583
    12,232
    Aug 4, 2008
    Let me check my logbook
    0
    Here's a thread for you to check out. This is one that I started a few years ago when I was thinking about becoming a broker. I decided not to get it rolling as I did not have enough money to do it right at the time. If you want to ask me any questions, PM me. You will be able to PM me since I am a mod.

    What do you want in a broker?
     
  9. end of the road

    end of the road Heavy Load Member

    868
    540
    Jul 4, 2010
    Northern Canada
    0
    Hmmm, just occurred to me that the term broker is a suitable word to describe many owner operators.
     
  10. Rollover the Original

    Rollover the Original Road Train Member

    3,206
    2,710
    Jul 1, 2009
    Springfield,MO
    0
    Thanks for your service!
    To be a broker the first thing you need is the freight. You'll get the freight by doing leg work going to manufactures that ship their product from the plant. You'll need to know how to figure rates.
    Next you'll need the bond then you'll need an operating capital then you'll need the money to pay the company or O/O you contract to haul your freight.
    The operating capital will have that last money in it so it's actually all together and it's NOT going to be just a few thousand dollars and seeing how you just said your wife is working 2 and you have your retirement you don't have the money to go into this as that operating capital must be able to cover you for at least 120 days as that is usually the maximum amount of time a company will pay you at. Yes some pay upon delivery but others seem to have to wait until they get paid by whoever they sold to. Not to mention that bond that's paid upfront! Do you or can you get your hands on $200,000? That MIGHT be enough to cover your rear until the checks start to come in unless someone refuses or walks out on payment which will happen more often that you think!

    Now the best way to become a broker is to start out the easy and cheap way that only costs the cost of a phone line, computer gas to go out and make a few customers and that's about all. You'll become what is called a broker AGENT! No up front costs no bond no operating capital except enough to pay your bills for about 3 months. The rest is paid by a broker!

    I "broker" a little but it's actually as an agent. I have a company that I "broker" through and they take a cut of the profits because they pay the driver who I contract with. But you STILL need that customer base and know trucking. I would highly suggest you either start as a trucker and find some of those customers or go to one of those broker agent schools out there sucking money out of your pocket so you'll learn how to do deals, talk to and understand how to check a drivers credit the customers credit drivers safe stat scores and on and on. It's not something you want to go into unless you know something about trucking! IDK if you have a Masters in Business management or a DA/BS in business trucking is a different animal and going into the broker side not knowing anything then you're in for a down fall that can break you!

    ME? Utill there is a little bit better upswing in transportation I wont step on owners as for me to take my cut and then these brokers wanting more than a fair share I'll stay out for a while longer. Even when a few "friends" of mine call about a load. They understand why as a lot of brokers don't. Greed has risen her head bitten a lot of people with the "broker" bug and I'm not stuffing her in a dark and damp hole in my posterior for a few bucks!

    It's coming back. My field (food) didn't take the hit as Building, auto and some other materials did but it is not as good as it was but at least I know that rates didn't take the hit that some of these BFI agencies say it did!

    Good luck but really think about freight longer and harder than you have. There are a lot of people shelling money into these brokering schools so just like drivers there is a glut on the market! Being broke makes people do stupid things and one of those things is to cut rate another broker to get the money! Just like trucking companies and some O/O's hauling cheap freight for next to nothing!
     
  11. Suzane

    Suzane Bobtail Member

    5
    0
    Oct 4, 2012
    0
    "Without your own customers all your doing is re-brokering loads of a load board and taking $ away from the truck."

    Hi all, just wondering what does that means?
    I just open my own freight broker company hoping it will go good... but have no knowledge yet.
    So.. if someone can please explain me if broker can book a load with other broker and repost it for truckers? Is it legal?
    Thats how I understand that.

    Thank you so much!
    Hope someone can explain me this.
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.