3 Surprising Ways to Improve Your Bottom Line As a Freight Agent
For freight agents, there is strong, vast potential to grow a client base and make a lot of money. Of course, like in any industry, there are challenges that must be overcome.
Many of today’s freight brokers and agents feel pressured to stay up to date with the latest software — the type of industry-specific platforms that quickly are becoming “table stakes.” They also struggle to keep up with the escalating number of back-office administrative tasks necessary to run a successful freight business. What’s more, freight agents feel the burden of ages-old issues such as exorbitant overhead expenses.
Luckily, there are ways to improve your bottom line as a freight agent, including:
Whether you’re just getting started as a freight broker or you’ve been at it for years, overhead is one of the most crushing hindrances to the bottom line. Consider these expensive one-time and/or recurring line items:
- Startup capital
- Specialized attorneys
- Marketing tools and information
- Credit/risk assessment and management
- Mandatory $100,000 bond
- Various types of insurance
- Claims management
- Accounting services
These costs, along with many others, are daunting. Freight professionals can greatly improve their bottom lines by becoming independent freight agents with a brokerage that takes care of these overhead expenses.
Increasing Access to Technology
In sales, nothing beats strong relationships and loyal customers. That said, in today’s freight industry, access to leading technology and online services is more important than ever.
Web-based loadboards, online forms, transformation management systems (TMS) and other digital tools drastically reduce the amount of time it takes to perform a wide variety of everyday tasks. For instance, freight brokerages that feature an easy-to-use onboarding website remove that burden from their freight agents — freeing up more time to concentrate on business development.
Independent freight agents who work with a brokerage that provides access to industry-standard technology have what’s necessary to compete and win for years to come.
Boosting Back-Office Administrative Support
Technology is an essential aspect of streamlining back-office operations, as is having a team of well-trained administrative professionals. The combination of time-saving tools and experienced specialists allows freight agents to devote more energy to winning and retaining shipping clients.
Many freight agents feel bogged down by tasks such as writing checks, setting up carriers, invoicing and collecting bills, and handling insurance. Anything a brokerage can do to minimize these duties and maximize their agents’ potential is a major boon for bottom-line success.
Enabling Freight Agents to Have Bottom-Line Success
To learn more about how independent freight agents can improve operations, close more deals and boost the bottom line, explore videos and infographics on Freight Tec’s agent information page.