Download my FREE eBook. This is a MUST HAVE resource for anyone who is considering the freight broker industry (About 40 pgs, 19 Topics) Enter your email address and name for an immediate download.
There’s a Bunch of Boring Details
When you set up your freight broker company, you need to deal with a lot of boring little stuff first.
It’s little stuff but it is necessary and, therefore, important.
… stick with me here to the end.
We’re talking about …
• Deciding what kind of business structure you want/need,
• Choosing a business name that’s available,
• Getting the business name registered,
• Getting your federal ID number, the EIN,
• If you are a single-member LLC, you’ll decide on how you want to be taxed,
• Getting communications set up – faxing, emails, phones, etc.,
• You normally don’t need business liability insurance
• Am I leaving anything out?
Hopefully, this much is completed before meeting for live training.
Note: you normally don’t need outside help in getting all this done.
I will help after processing either a deposit for live training or regular fees for the telephone/internet training.
Please don’t spend a lot of money elsewhere to get these boring chores done.
During the actual training, we’ll first do your application for your DOT/MC#s. Once this is done (and you get your DOT# instantaneously which usually results in a “high-five”), we get your BOC-3 and the UCR.
We’ll also talk about the pros and cons of getting “contingent cargo” insurance.
Then you’ll be ready to talk to the people who will provide either a trust fund or a surety bond.
Further along in the training, you’ll learn about rates and rate negotiation. You’re doing it from the perspective of a “broker” not a “trucker” if this is your situation.
You’ll also learn about load boards and you’ll start making plans to spend time navigating the learning curve once you get back home.
And, of course, customer acquisition strategies, getting loads, learning where to go and where not to go for getting loads and pre-qualifying motor carriers will take up a chunk of time in the training process.
You won’t need expensive software to work your business.
You’ll have spreadsheets to help monitor your progress as well as using them to help decide which customers/truckers you want to keep and which ones you want to dump.
Knowing how to do this can be a make or break point while growing your business.
You will also be shown what to expect from your shippers and truckers and what they will expect from you. This even includes invoicing your customers and the payables to your carriers.
We even touch upon some legal issues that you’ll need to learn to see how they impact freight brokers.
So we go from doing boring things to actually bringing your business to life!
And it IS exciting!
We are in to October. I’ll only be around for a couple of weeks here in El Paso for live training. Call me if you want to get this done – there’s room for one or two more clients.
Then, I’ll be available for only telephone and online training until next Spring. More later on all this.
Want a little more info on how to get started? Go here: