Sep 21, 2017 • Carriers

Highest Paying Truck Loads

Find the highest paying truck loads to maximize your trucking company’s earning potential.

Highest Paying Truck Loads

Hauling the highest paying truck loads is essential to running a successful trucking company. Truck freight rates are based on the current market, therefore there is a week-to-week fluctuation of what a truck load is paying.

Using Free Load Boards

Free load boards like Truckloads provide a marketplace where owner-operators and carriers with trucking authority can search for loads that have been posted by freight brokers. Ideally, you will want to use a load board that has a mobile application as well. This way you can find truck loads anytime and limit those empty miles.

Imagine sitting at the dock waiting to get unloaded for hours (we know you’ve all been there) and you have over 1,000 miles to travel back home with no load. Wouldn’t it be great if you could find a truck load to haul on your way back and earn a little more?

Well, with an app like Truckloads now you can. Don’t believe us? Just ask one of the 150,000 carriers who use the app and rated it the highest-rated mobile load board on Google Play and the App Store!

Finding Truck loads – Location, Location, Location

We all know that it’s all about location in real estate and it’s no different for finding truck loads. The location of a truck load plays a crucial role in determining how high the truck load will pay and often times, it may not be nearby.

You might have to be willing to increase your deadhead miles in order to find the highest paying truck load. If you have a reefer truck, you can find the best reefer truck loads by focusing your search for locations where there are heavy volumes of agriculture such as Florida, California, and Texas.

How are Truck Load Rates Calculated?

Truck load rates are calculated based on a variety of factors of the current market conditions. This includes:

Load-to-Truck Ratio in an Area
Weight and size of a truck load
Shippers willingness to pay
Type of goods being hauled
Time constraint and a variety of other factors

The truck loads posted by freight brokers are based on the amount the shipper agrees is fair to move the load. You must remember that the freight broker is paid based on his or her ability to profit from the price agreed with the shipper and the price agreed to the carrier. Therefore, there is ample opportunity to negotiate for a higher truck load rate, especially when the conditions of the market are in your favor.

What is the Highest Paying Truck Load?

On average, flatbed loads have the highest rates. Flatbed trucks are used as truck freight for construction goods, large manufactured parts, and various oversized loads. Due to the sheer size and value of such parts, shippers are willing to pay a bit more to ensure the freight is delivered without a scratch. (This isn’t always the case but is based on typical averages).

An oversized load is any truck freight that is over 8.5 feet wide. This type of truck freight requires red flags and lights to help identify the oversized truck freight on the road.

Truckloads Load Board Offers:

Mobile app and web versions
Over 3 million monthly truck loads
New loads posted every 60 seconds
Truck loads for 11 different equipment types
Custom searches by location, deadhead, and date
Unlimited access to premium loads
View a freight broker’s credit score and days to pay
100% Free to use and book truck loads!

[button text=”Try Truckloads for Free” href=”https://truckerpath.com/truckloads/free-load-board/?utm_source=Blog&utm_medium=truckfreight&utm_campaign=Aug10″ width=”250px”]

TagsTruckloads

Oct 07, 2020 • Carriers

Sep 04, 2020 • Carriers

How to Become a Freight Broker? [h2] How to Become a Freight Broker? [/h2] [p]To become a freight broker you need to understand the <a href="https://truckerpath.com/blog/trucking-industry-trends/">trucking industry trends</a> first. Thousands of products need to be moved across America and companies use every venue possible to ship their freight, but none more than through truck freight. The trucking industry produced $726.4 billion in revenue for 2015 and freight tonnage has increased since. Freight is hauled by truck drivers but moved by freight brokers. Here's how you can become a freight broker and enjoy a piece of the lucrative pie. [/p] [h2]1. Register your Freight Broker Company [/h2] [p] There are a couple routes you can choose to become a freight broker. The easiest way to start is to get hired by an established freight broker company. There you will fall under their insurance and use their capital as well as being provided training about the trucking industry. If you've already done this and have the necessary capital, this is where you would be registering your business with the local licensing department. Once you register your LLC you will receive your Tax ID Number [a href="https://irs-tax-id.com/?utm_source=bing&utm_medihttps://irs-tax-id.com/?utm_source=bing&utm_medium=cpc&utm_campaign=irs%20tax%20id%2Fein&utm_term=irs.gov%20tax%20id%20number&utm_content=irsum=cpc&utm_campaign=irs%20tax%20id%2Fein&utm_term=irs.gov%20tax%20id%20number&utm_content=irs"]from the IRS[/a]. [/p] [h2]2. Have a Plan For Your Freight Broker Company [/h2] [p] The most important part of becoming a freight broker is to have a clear vision and plan, especially if you need to generate funding from lenders. Know your target, stick to your strengths, and don’t be afraid to grow. [/p] [p] Understand your region and what types of loads move through, who's your ideal customer base? What type of services will you offer? How will you market your freight brokerage? [/p] [giphy]<iframe src="https://giphy.com/embed/Sg21YDdh3Onqo" width="480" height="288" frameBorder="0" class="giphy-embed" allowFullScreen></iframe>[/giphy] [h2]3. Build a Carrier Base [/h2] [p]Life as a freight broker is all about who you know. Networking and connecting with motor carriers is the only way you will succeed in moving freight. You need to start building a list of trucking companies with capacity and willingness to work with you. [/p] [p]This is when networking meets relationship building. Establishing trust and showing that your work efficiently and provide good service can be the difference when finding carriers. The best way to find carriers is by using load boards from trusted companies like Trucker Path Truckloads. Load boards allow you to post your freight for carriers to view and then contact you if they're interested in hauling them. This way you can move more loads quickly and from anywhere. [/p] [p] Don't forget, freight brokers also need to connect with shippers who need freight moved. Here's a closer look at <a href="https://truckerpath.com/blog/how-do-freight-brokers-find-shippers/">how freight brokers find shippers</a>. [/p] [h2]4. Freight Broker Authority [/h2] [p]You’re well on your way to becoming a freight broker now that you have a registered business and a carrier group to connect with, but there are still a few more requirements. You must apply for a US DOT number with your local Department of Transportation branch. Once you are approved, take your DOT Number to the Federal Motor Carrier Safety Administration (FMCSA) to get a Motor Carrier (MC) number and broker authority. This is approved through the completion of the [a href="https://www.fmcsa.dot.gov/registration/form-op-1-application-motor-property-carrier-and-broker-authority"]OP-1 Form which includes a $300 application fee[/a].[/p] [p] Here are a few more details as to how you can get your <a href="https://truckerpath.com/blog/freight-broker-license/">freight broker license</a>. [/p] [h2]5. Freight Broker Bond [/h2] [p] To show carriers and companies alike you have the financial backing to broker your business you will need at least a $75,000 <a href="https://truckerpath.com/blog/freight-broker-bond/">Freight Broker Bond </a>(BMC-84 or BMC-85). Think of this as insurance for your business. This will cover you in the instance something goes wrong leading to monetary losses of a company. [/p] [p] Let's say the carrier you contracted to haul a load shows up to the receiver with a truckload of spoiled milk because you instructed them to cool the reefer to 74 degrees instead of 47. You were deemed responsible and your client seeks repayment of damages for a load of milk valued at $65,000. Your bond covers that cost similar to the way car insurance companies handle a car accident. [/p] [giphy]<iframe src="https://giphy.com/embed/3o6Zt2iHqqrjNlbPS8" width="480" height="270" frameBorder="0" class="giphy-embed" allowFullScreen></iframe>[/giphy] [h2]6. BOC-3 Blanket of Coverage [/h2] [p] One of the last filings you will have to complete in order to become a freight broker is your [a href="https://www.fmcsa.dot.gov/registration/form-boc-3-designation-agents-service-process"]BOC-3[/a]. This is the Blanket of Coverage for your company. Basically, you must file your BOC-3 in each state you will be operating. You will need to select a process agent to file. The process agent is the company who will be handling your legal processes in each state you have operating authority. [button-white href="https://www.fmcsa.dot.gov/registration/process-agents"]List of FMCSA Agents[/button-white] [/p] [h2]7. Freight Broker Essentials [/h2] [p]The tools of the trade for a freight broker are office equipment and supplies to make work easier and more organized. You'll need the basics like a computer with internet, printer, scanner, and fax machine. But you'll also need a phone with several lines and a quality headset to communicate with drivers and clients. [giphy]<iframe src="https://giphy.com/embed/VmNVXIMH3bCsE" width="480" height="353" frameBorder="0" class="giphy-embed" allowFullScreen></iframe>[/giphy] [/p] [p] Don't forget<a href="https://truckerpath.com/blog/freight-broker-software/"> broker software</a> as you'll want software that allows you to keep track of your loads, customers, carrier locations, and truck status (some load boards will do all of this for you). DR Dispatch and ITS Dispatch are a few of the programs that can be beneficial. [/p] [p] Look for broker software offering GPS tracking based on logged location updates, bill of lading/invoice generators, pickup and delivery location (shed) logs, note taking/documentation, and most importantly rate confirmation generation. These are the essential functions needed to manage your loads from pick up to delivery. [/p] [h2]8. Freight Brokerage Financials [/h2] [p]In order to continue your carrier relations, you need to get backing from a bank. As a freight broker, you will be paying the carrier after they deliver the load. Pay terms for carriers range from 1-28 days (sometimes more). Whereas you will be extending the customer a line of credit or they will pay up front for the services. [/p] [p] You make your money off of the margin known as the "spread". For example: [ul] [li]Company X pays you $3,000 to find a motor carrier[/li] [li]You pay Carrier Y $2,500 to haul the load[/li] [li]You earn $500 for brokering the arrangement. Of course, this isn't all profit as overhead costs will apply, but you get a general idea.[/li] [/ul] [h2]9. Marketing Your Freight Company [/h2] Lastly, in order to succeed as a freight broker, you have to make a name for yourself by building awareness surrounding your freight company. Reliable service that is transparent and convenient is key to building a reputation with carriers. Word of mouth is critical for growing your freight business locally but you have to put yourself out there and raise awareness just like any other startup if you want to be a successful freight broker. [/p] [button-green href="https://truckerpath.com/truckloads/broker-load-board/?utm_source=blog&utm_medium=becomeafreightbroker&utm_campaign=july12"]Get Started With Truckloads[/button-green]

Jul 12, 2017 • Brokers