Sep 27, 2017 • Brokers

Top 50 Freight Broker Companies

Top 50 Freight Broker Companies

Top 50 Freight Broker Companies

Freight broker companies specialize in moving freight that includes truck loads, air freight, and even rail. Freight brokers are responsible for finding truck load carriers to haul freight for their client’s.

Just how important are freight broker companies? Well, in 2016, trucks moved 10.42 billion tons of freight in America. Televisions, dishwashers, machinery, fresh produce, even homes – trucks do it all.

Top 50 Freight Broker Companies

The top freight brokers are based on the company’s net revenue, which also means those companies listed below are considered the most profitable freight broker companies.

Broker Load Board – Truckloads

Freight brokers can use Truckloads load board to post available truck freight in order to reach over 100,000 qualified carriers and use features such as truck search, making it easier than ever to find carriers to haul a load!

100k+ qualified carriers
Post loads via TMS, CSV or various other integrations
Confirm a carrier’s Safer Rating
See how many times a loads been viewed
Search for Available Trucks ready to haul now!

Best of all, Truckloads is FREE to use!

So what are you are waiting for? Start posting loads and find carriers today.

[button text=”Post to Truckloads” href=”https://ship.truckerpath.com/signup?utm_source=blog&utm_medium=topfreightcompanies&utm_campaign=Sept26″ width=”250px”]

TagsFreight Brokers

What Does a Freight Brokers Do? [h2] What Does a Freight Brokers Do? [/h2] [p]A freight broker is someone who assists shippers with freight ready to haul by finding carriers who are qualified to haul the load.[/p] [p] They are responsible for brokering deals with shippers and then facilitating the movement of a shipper's freight. They are responsible for keeping a line of communication open with the carrier in order to update the status of the shipper's load.[/p] [p] Freight brokers can run their own business or work for a freight broker company. They are responsible for arranging the transportation and tracking of a load hauled by a freight carrier.[/p] [p]They make it easier for shippers to find quality carriers that are proven to be reliable in hauling a load. See, most shippers don't have the experience or time to determine if a carrier can perform the task. Sure, most trucking companies are consistent and deliver a load in a timely matter with nothing to dispute, but there are some bad apples that make it difficult to know with certainty. [/p] [p] Meanwhile, freight brokers help motor carriers potentially earn more by having readily available loads to haul. Availability and reliability are key components here. [/p] [p]The responsibilities of a freight broker are not limited to connecting carriers with shippers. They must communicate with both parties it represents as well as track the load and verify it's pickup and delivery. [/p] [h2]How Do Freight Brokers Make Money?[/h2] [p]A freight broker earns money by moving freight for less than his customer is willing to pay to ship the freight. This difference creates a profit for the freight broker known as the spread. They are paid x amount by a client to find a carrier to haul a load which they pay for y amount. The difference is what the freight broker earns. [/p] [h2] Freight Broker Salary[/h2] [p]A freight broker salary has a national average of $41,952 annually according to PayScale. Keep in mind this is a base salary average without any of the commission or bonus included.[/p] [p]Location will also play a tremendous factor in dictating freight broker salary. A freight broker in Dallas earns an average base salary of $55,000 where a freight broker in Kansas City earns $45,000. Freight brokers can earn upwards of $75,000 or more annually when the commission is added and that number can increase dramatically if you operate your own freight broker company. [/p] [h2] Broker Load Boards - How Brokers Find Freight Carriers[/h2] [p]Freight brokers looking to move freight need to find motor carriers who are available to haul a load. Broker load boards are used by freight brokers to connect with the desired freight carrier and are one of the easiest way to network and build a carrier base. [/p] [p]Using a load board such as Truckloads, freight brokers can quickly find qualified carriers who may be interested in hauling a load by posting the load details onto a load board and then contacting motor carriers who may be interested in the load. Time is money and the more loads a freight broker can move, the more they can earn, placing a premium on the use of load boards. [/p] [button-green href="https://truckerpath.com/truckloads/broker-load-board/?utm_source=blog&utm_medium=whatfreightbrokersdo&utm_campaign=nov22"]Try Truckloads for Free[/button-green] [video id="o_tsuJHWayo"]

Nov 22, 2017 • Brokers

Industry Update - April 19, 2019 <h5>By Jeremy Feucht</h5> <h3></h3> <h3><strong><u>Did you Know?</u></strong></h3> By volume, Isuzu is the largest commercial truck manufacturer in the US averaging around 450,000 per year. <h3></h3> <h3><strong><u>Trucking tip of the Week</u></strong></h3> Its that time of year where fuel costs begin their yearly ascent. Fuel economy is always a concern and the biggest factor to your bottom line. 55mph is the efficient speed for your truck. While you probably drive fast in order to keep other drivers happy (and to keep ahead of your logs, get to your next load, or finish your current load),remember that you use 27% more fuel when driving at 75mph instead of 65mph. <h3></h3> <h3><strong><u>Human Trafficking</u></strong></h3> Truckers Against Trafficking <a href="https://www.kjct8.com/content/news/Trucking-industry-tackles-the-topic-of-human-trafficking-with--508771901.html">made a stop in Grand Junction, CO</a> this week. Their mobile exhibit has been made to not only create awareness in local communities about what to look for in a human trafficking scenario, but to engage truckers to fight against trafficking as well. Truckers are seen as a key cog in stopping human trafficking as their travel takes them to many places and brings them in contact with more people and situations than the average American. <h3></h3> <h3><strong><u>Alternative Fuel</u></strong></h3> <a href="http://www.capradio.org/articles/2019/04/18/power-companies-want-to-build-charging-stations-along-california-freeways-to-move-the-trucking-industry-to-electric-vehicles/">Power companies in California</a> are looking into pushing truckers towards electric vehicles. The plan is to conduct a study that would determine how practical adding charging stations from Seattle to San Diego along I-5. The idea is to reduce smog. The hope is that these stations can charge a big-rig battery in about 30 minutes for drivers looking to get on the road quicker and have options for a slower charger for drivers who are parked overnight. As of now, no electric vehicle has boasted the power potential yet to become a viable option for long haul truckers. <h3></h3> <h3><strong><u>Technology</u></strong></h3> One alternative fuel that does claim to have enough power, is hydrogen. Hydrogen produces electricity and water vapor, making it ecofriendly. The bigger issue is how and where to fuel and the overall cost of the truck. <a href="https://www.msn.com/en-us/finance/news/nikola-motor-unveils-truckings-hydrogen-future/ar-BBW2aJr">Nikola held a conference</a> to show off their new inventions this week in Scottsdale, AZ. With over 2000 viewers, Nikola announced they have solved the power issue of electric vehicles and are actively working on the issue with refueling. Refueling is believed to take about 20 minutes and the cost to refuel will be worked into the lease payment for the vehicle. The leases will be set for 1 million miles or 84 months whichever comes first. No details were released about the cost, but claim over <a href="https://www.trucknews.com/equipment/nikola-claims-us12-billion-in-hydrogen-truck-pre-orders/1003088541/">$12 billion</a> in orders have already been placed for their branded trucks.

Apr 19, 2019 • Carriers

Freight Broker Bond [p] Want a freight broker license? You'll need a freight broker bond of $75,000 first.[/p] [h2]Freight Broker Bond[/h2] [p]The freight broker bond is one of the lesser known parts of being a freight broker but it’s quite simple, and once you get a better understanding of it, you should feel as comfortable with your freight broker bond as you do with getting car insurance.[/p] [h2]What is a Freight Broker Bond?[/h2] [p]A freight broker bond is a form of a surety bond, which is like an insurance policy for a contract, though it doesn't take the place of liability insurance. It is a legal commitment made by one party to another to pay a certain dollar amount if the terms of a contract are not met. [/p] [p]In this instance, the bond protects a customer from losses if you don’t come through as well as giving carriers the peace of mind knowing they will be paid in a timely manner.[/p] [h2]BMC-84[/h2] [p] The BMC-84 is essential to your freight brokerage as it reassures carriers and companies that you have the backing to broker deals. BMC-84 is the bond for $75,000 and is required by law. It is necessary to cover payouts of possible claims (damages, broker negligence, failure to pay, etc). [/p] [h2]Applying for a Freight Broker Bond[/h2] [p]A freight broker bond can be acquired from any insurance agency such as Liberty Mutual, The Hartford, among hundreds of others. Alternatively, you can search for specific firms in your state who specialize in freight broker bonds. [/p] [p]When you're ready to select your agent of choice they will all require the same information to process your BMC-84: exact business name as it appears on the business license, the exact dollar amount for bond, business address, and all business/personal financial records. [/p] [p]You must pay a percentage of the freight broker bond up front before the agency will process it. Usually, this annual premium will be between $900-$2,000 depending on your credit. It can be paid for with a credit card or check in most instances and takes about 24 hours to process.[/p] [h2]Can I Get a Freight Broker Bond With Bad Credit?[/h2] [p]Yes, you can still get a bond. If you have bad credit it’s not impossible, but it will increase your cost to secure a bond which can run upwards of $2,000. Keep in mind that surety bonds do not affect your credit score so it wouldn't hurt to search around though it's best to start at the bigger agencies first. [/p] [p]The larger the firm the more freight broker bond providers they work with which increases your odds of being approved. Just remember the premium on the freight broker bond is a percentage of the bond itself, so if your credit is bad the premium will be higher. Even though you will have to pay more up front it allows you to open your business and provides an umbrella in case of any freight claims.[/p] [h2]Freight Broker Bonds and Claims[/h2] [p]Trucking is dangerous and things are bound to go wrong on the road from time to time. Customers will understand that. However, when things do go wrong, someone needs to be held responsible and pay the damages. Similar to a car accident, there will be a resolution and one party must pay out to the other.[/p] [p] This is why it is required for companies to maintain a $75,000 bond. If you're found responsible and must pay out on the claim, your bond will act as a line of credit to do so. Before being issued your bond you must sign a legal document to repay in full in the case of such a payout. [/p] [h2]Bonding Agency [/h2] [p]When selecting your bonding agency to try to use one who is also a Managing General Underwriter (MGU) bonding agency. MGU Agencies can and will help you through each stage of a claim. It is recommended to do everything possible to be proactive when issues arise on loads to prevent claims from being filed. Just like car insurance the more accidents, you have on your record the harder it is to get insured. Only here not being able to get a bond can cause you to go out of business as they are required to operate.[/p] [p]Remember DO NOT submit your proof of insurance directly to the FMCSA. The FMCSA requires that your insurance company submit the form and insurance certificate on your behalf.[/p] [h2] I Have a Freight Broker Bond, Now What? [/h2] [p] Now that you've covered your freight brokerage from potential claims with your freight broker bond, you can either continue to start your freight brokerage company or if you're ready, explore load boards to help you post loads that qualified carriers can view.[/p] [button-white href="https://truckerpath.com/blog/how-to-become-a-freight-broker/"]How to Become a Freight Broker[/button-white] [p]Freight brokers who use Truckloads have the ability to connect with over 100,000 qualified carriers ready to haul their freight. You can even track your loads to verify a carrier's location and ensure that your customers delivery is going according to plan. [/p] [button-green href="https://truckerpath.com/truckloads/broker-load-board/?utm_source=blog&utm_medium=brokerbonds&utm_campaign=aug2"]Get Started With Truckloads Now[/button-green]

Jul 26, 2017 • Brokers