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How do you broker your own loads?

Discussion in 'General Expediter Forum' started by drivingmecrazy, Dec 10, 2007.

  1. drivingmecrazy

    drivingmecrazy New Recruit

    I have talked to a few teams and some on this site, and they broker there own back hauls out of areas- and don't wait for Panther to get them a load. In orientation they gave us a web site.. but really no step by step instructions. I know the company takes a percent, and you have to get their approval. Can someone break it down, step by step? We would love to learn to do this!
     
  2. nightcreacher

    nightcreacher New Recruit

    before you go into the hauling of cheap freight,and thats what you will get with a broker load,ask your self this question,why did I take a load that I will need to use a broker for to get to my next load.if the expedite load doesnt pay you enough to deliver then go to your layover and get to the next pick up,you better think twice before accepting the load,but I guess everyone has their own way of doing things,I just dont do broker loads,oh ya one other thing,while you are on that cheap broker load,how do you take an expedite load you may have just missed do to having that cheap load on your truck.just something to think about
     
  3. fortwayne

    fortwayne New Recruit

    Having worked with Panther, you get on the getloaded.com site they gave you the password and user name for. You find the load you would like and call the broker. If you like what you hear for the rate agree to take the load and have him fax everything over to Panther. Tell Panther it is on the way via fax to them. They will have to approve the deal first. Make sure the broker places your truck number on the fax where you get the deal. Keep in mind you have to make sure your truck owner would still get his contracted amount after Panther takes their cut and I forget what they take. That is it - pretty easy deal.

    To the other comment about brokers only have cheap loads - that is nonsense. Heck, I am new at freight brokering and I don't even mess with shippers who will not pay the truck (semi) at least $1.65 for a low price. I didn't want to drive for cheap rates why the heck would I broker cheap then?

    I make sure the truck o/o get at least 1.65 even though I will go lower if the o/o is willing to go for less and I will ask more if the o/o will not turn his truck for say $1.95 or MORE!

    So don't corner all brokers in a pile together because some of us don't handle cheap loads - that is why I don't take alot of expedited frieght from some of the carriers on this site -while others are good!



    Fort Wayne
     
  4. nightcreacher

    nightcreacher New Recruit

    Fortwayne your in the minority then believe me,and your in a high freight low truck area so you can charge more,oh what is 1.65 after panther gets their cut,cheap to the o/o
     
  5. LDB

    LDB Seasoned Expediter

    Panther gets 15% of whatever amount you negotiate with the shipper. For that 15% you are covered by liability insurance and operating authority. Compared to other companies that take anywhere from 32-38% that I know of, and others who may take more for all I know, it is a bargain. I use it maybe once a year when I hit a wall after several weeks out and want to go home now not whenever something comes up going that way.

    Leo Bricker, 73's K5LDB
    OOIDA Life Member 677319, JOIN NOW
    Owner, Panther trucks 5508, 5509, 5641
    EO Forum Moderator
    ----------
    Support the entire Constitution, not just the parts you like.
     
  6. greg334

    greg334 New Recruit

    "For that 15% you are covered by liability insurance and operating authority."

    Leo,
    Don't you pay for the insurance? and how does the authority fit into this? I am confused.
     
  7. highway star

    highway star Seasoned Expediter

    The companies insurance will cover the freight and the truck will run under their operating authority, the same as if you were running a load they got for you.
     
  8. My "real world" experiences contracdict alot of what is written here. Theres two ways to skin a squirrel as theres two sides to every coin. Thinking outside the conventional box can lead to some rather profitable alterantives. I will immediately state that we haul no cheap freight. Anything under $1.40 a mile is only done if theres a family emergency or other such urgent requirements. Brokered loads have provided our two vehicles with a economically sustainable income. During the period of time we were under signage of a major carrier and needed to go out of service to earn an income, we did. That took an outside the box mentality and legal planning. Our vehicle at that time was properly prepared for dual usage. Eventually we made the fulltime switch to independant operators and to this day are doing well working the brokerd freight market along with our own customers. Expedited freight is still a sizeable chunk of our revenue.
     
  9. LDB

    LDB Seasoned Expediter

    Yes, we pay for the insurance however we are only insured when empty or when loaded with Panther freight. If you "get creative" and run something and have an accident there's no insurance and it's all out of your pocket. Also, if you get caught wildcatting you aren't under any operating authority and the feds do all sorts of unpleasant things. Being protected from any of those possibilities is well worth the 15% IMO.

    Leo Bricker, 73's K5LDB
    OOIDA Life Member 677319, JOIN NOW
    Owner, Panther trucks 5508, 5509, 5641
    EO Forum Moderator
    ----------
    Support the entire Constitution, not just the parts you like.
     
  10. CharlesD

    CharlesD Active Expediter

    I just got my authority, but right now I still get what my carrier can find me and then book my own loads when I get stuck or can't get out of a certain area. I want to transition to running all on my own eventually, but for now that's how I'm doing it. I've had decent luck with www.getloaded.com so far. There are a few broker loads that will pay well enough to be worth your while.
     
  11. davekc

    davekc Senior Moderator

    I find the ones that say there is no money in it, seldom know very little about it. Some are cheap and some are not. You have to know where to look. In a lot of instances, they pay better than expedite.


    Davekc
    owner
    23 years
    PantherII
    EO moderator
     
  12. greg334

    greg334 New Recruit

    Leo,
    I understand what you are saying but let me try to explain what I mean; if you run a good month being loaded 22 days out of the month and then the next month your don't run the truck at all, do they adjust your cost for the month unloaded.

    The reason I asked is that the cost is covered by the contractor regardless if you are loaded or not, or am I wrong?
     
  13. davekc

    davekc Senior Moderator

    I think the confusion is between truck insurance and load insurance.
    Depending on where you are shopping, load insurance can be as high as $10,000 a year.












    Davekc
    owner
    23 years
    PantherII
    EO moderator
     
  14. CharlesD

    CharlesD Active Expediter

    I have a Sprinter and I got my cargo insurance for $1000. Of course I went through the same company we have the house and car insured with, so maybe we got some kind of discount.
     
  15. greg334

    greg334 New Recruit

    WOW a $1000, the last time I checked for my van it was $5800 a year and that was without the $1M for hazmat. At that rate, I can insure my truck at $4000 a year.
     
  16. CharlesD

    CharlesD Active Expediter

    >WOW a $1000, the last time I checked for my van it was $5800
    >a year and that was without the $1M for hazmat. At that
    >rate, I can insure my truck at $4000 a year.

    That was through Great American out of Cincinnati. I didn't bother with the hazmat. I can get enough to haul without messing with that.
     
  17. davekc

    davekc Senior Moderator

    I don't think we are talking about the same type of insurance.
    One policy is hauling your own items and the other is hauling
    contracted freight.
    In otherwords, the policy for a florist delivery truck is much different than hauling contracted freight.








    Davekc
    owner
    23 years
    PantherII
    EO moderator
     
  18. x06col

    x06col Active Expediter

    Yep, Dave. Someone is misguided here somewhere. Did I in fact read "I have my own Authority, and something about MY Carrier"?
    what a waste. I guess i'm confused.
     
  19. fastrod

    fastrod New Recruit

    I have my own authority and run a van. My insurance is $1125.00 per year for the van and that covers the $300,000 that is required for the operating authority. The cargo insurance is $800.00 per year for $50,000 coverage.
     
  20. Jefferson3000

    Jefferson3000 New Recruit

    >WOW a $1000, the last time I checked for my van it was $5800
    >a year and that was without the $1M for hazmat. At that
    >rate, I can insure my truck at $4000 a year.

    ========================

    Greg,

    It would not be impossible to think of insuring your truck for a million, and then cargo for 100,000 for the sum you are talking. You have to look around. There are good A companies who will do that. Some don't know how to write Motor Truck cargo and/or don't want to, so they always quote you things like $3300 a year. I am paying about 1250 right now for my cargo. It would probably be cheaper if it was with the same company I had liability with. When I change companies soon, I will hunt for a full package. That way always gets you a better deal.


    Drive Safe!

    Jeff

    Driver for 15 years
    O/O for 13 years
    OOIDA #829119

    [em]"Let us be thankful for the fools. But for them the rest of us could not succeed." --Mark Twain[/em]
     

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