Start-up Funding | |
Start-up Expenses to Fund | $3,450 |
Start-up Assets to Fund | $18,550 |
Total Funding Required | $22,000 |
Assets | |
Non-cash Assets from Start-up | $2,200 |
Cash Requirements from Start-up | $16,350 |
Additional Cash Raised | $0 |
Cash Balance on Starting Date | $16,350 |
Total Assets | $18,550 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $0 |
Accounts Payable (Outstanding Bills) | $0 |
Other Current Liabilities (interest-free) | $0 |
Total Liabilities | $0 |
Capital | |
Planned Investment | |
Investor 1 | $20,000 |
Investor 2 | $2,000 |
Other | $0 |
Additional Investment Requirement | $0 |
Total Planned Investment | $22,000 |
Loss at Start-up (Start-up Expenses) | ($3,450) |
Total Capital | $18,550 |
Total Capital and Liabilities | $18,550 |
Total Funding | $22,000 |
Silicon Freight Brokers is a niche freight broker for the silicon chip industry. SFB will provide a brokerage service to link manufacturers of silicon computer chips and the users of the chips such as Intel, Texas Instruments and Motorola with freight companies. Freight brokers are basically the “middle man” between a shipper and trucking company, also referred to as “third party transportation providers.” SFB will work with companies to find a safe, economical way of transporting silicon chips.
SFB will have two types of customers:
Silicon Freight Brokers will be concentrating on the freight brokerage of silicon chips. This is a small, specialized, niche of the general freight brokerage industry. SFB is concentrating on this space for several reasons:
Silicon Freight Brokers will be focusing solely on the freight brokerage of silicon chips. There are two distinct customers in this niche market, manufacturers of the chips, and the buyers of the chips who are processor manufacturers.
Although, in general, silicon chip production has shifted overseas, there are a collection of chip manufacturers still located in the States. The difference between the two types is not very significant, SFB arranges for the carrier to pick up the chips either off the boat or from the manufacturing facility.
Whether SFB deals with the manufacturer or the seller is a function of the contractual terms that the buyer and seller agree to. Sometimes it is the manufacturer’s obligation to ship, other times it is the buyer’s obligation to arrange pick up of the chips.
The chip buyers are manufacturers that use the chips in their processors. The largest processor manufacturers, Intel, Texas Instruments and Motorola, are located in the U.S.
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Buyers | 7% | 340 | 364 | 389 | 416 | 445 | 6.96% |
Sellers | 6% | 220 | 233 | 247 | 262 | 278 | 6.02% |
Other | 0% | 700 | 700 | 700 | 700 | 700 | 0.00% |
Total | 3.09% | 1,260 | 1,297 | 1,336 | 1,378 | 1,423 | 3.09% |
Silicon Freight Brokers is concentrating on the silicon chips niche as it is a very specialized, thriving market. By focusing in this market space, SFB will be able to offer superior service. Shipping of silicon chips requires special types of trucks that are humidity and temperature controlled. SFB will form intimate relationships with the unique carriers because this relationship will provide SFB with special insight, which will allow SFB to meet any need a customer might have. Shipping silicon chips has special requirements and SFB will be more familiar with these requirements because it will not be distracted by offering other services. Specialization also allows SFB to develop close relationships to the limited number of carriers that are equiped to transport chips. Lastly, the growth of processor manufacturing, which requires silicon chips, has far outpaced most other industries in this country. This growth rate makes this niche especially attractive.
In the freight broker market, there are general brokers that offer a wide range of services. There are a few companies that specialize, but no one is as niche focused as SFB. Because most all of the silicon chips are transported through the U.S. via trucks, there is considerable growth in the specialty freight brokerage business.
SFB will be marketing our business through several different outlets. The first is the Internet. A lot of the industry has moved to the Web as means for communication regarding freight quotes. SFB will be developing a website where a customer can go to find out an estimate for freight rates. The website would key for finding the requisite information like weight, pick up and destination, and SFB would work with our carriers to find them the most safe and economical solution. Because SFB is only working with silicon chips, the complexity of the number and type of trucks to be used (non-temperature controlled, etc.) is reduced.
SFB will also be running advertisements in silicon chip trade journals. The ads in the silicon chip journals will provide visibility for SFB to the manufacturers and buyers of the chips.
There are many different freight brokerage services. This market is broken up into generalists, handling all types of freight brokerage, and specialists, handling materials ranging from heavy equipment, oversized loads, perishable commodities, or hazardous materials.
The chip buyers and sellers make the shipping decision based on service (defined by many variables including customer service, speed, safety of the product) and price. Most business is repeat business, 70-80% according to industry statistics. Once a customer finds someone who they are happy with, they typically stay with them.
Silicon Freight Brokers will be going after the silicon chip market. This is a reasonable target, due to SFB’s industry knowledge. SFB will be bringing customers aboard through the use of a website, advertisements in industry journals, and networking from a combined 17 years of industry experience. SFB will turn these leads into customers through our specialized knowledge which translates to superior service offerings.
SFB’s sustainable competitive advantage is our thorough knowledge of the silicon chip industry and freight brokerage business. Steve has spent the last 10 years in the freight brokerage business and has significant insight for creating business in this industry. Steve’s wife, Wendy, has spent the last seven years consulting for Intel and Texas Instruments regarding the usage of silicon chips for processors. She intimately understands the logistics of the processor manufacturer’s needs of silicon chips and their supply chain for this product. Having inside knowledge about freight brokerage and the niche of supply chain logistics for the silicon chips is rare. Generally, a specialty freight brokerage will concentrate on a niche for whatever reason, but rarely because they have inside knowledge regarding the niche industry product, usually the specialized knowledge is just in the freight brokerage business.
This specialized knowledge, coupled with an unsatiated need to exceed customer’s expectations will give SFB the competitive advantage to succeed in this industry. SFB has made it their mission to provide the finest customer service possible. This makes good business sense, particularly in this industry where so much of the business is repeat business.
The sales strategy will be a two-prong approach, the first prong deals with establishing strategic relationships with the carriers to have a basic portfolio of carriers who excel at moving silicon chips. The second prong deals with closing deals with chip buyers and sellers to utilize our brokerage service.
SFB will be developing strategic relationships with carriers by first assembling a comprehensive report of all the carriers that are silicon chip carriers. SFB will then attempt to enter into mutually beneficial relationships with them. SFB will also have a large portfolio of possible customers that have been developed through marketing and networking activities. The carriers will have a desire to work with SFB if they see that SFB is indeed a company of integrity, as well as a good source of future business.
Once these relationships are established, SFB will be able to offer our future customers a wide range of options. SFB will continue with its marketing efforts to qualify these leads. SFB will also be using our network of friends in the industry to drum up additional business. Customers are looking for a headache-free solution, and this is what SFB will appear like to them. Additionally, SFB industry expertise (freight brokerage and silicon chips) is rare and refreshing and will certainly make the customer feel at ease.
As a service provider business we have labor costs and expenses, but no direct costs of sales. Labor costs are included in the Personnel table and expenses are listed in the Profit and Loss table.
During month two SFB will be interviewing and hiring for a receptionist/secretary.
During month three SFB will begin to get a few phone calls regarding inquiries for our service. From month three on, business activity will be steadily increasing. By month four SFB will be bringing on one additional person in the capacity of customer service/account representative.
By month five sales will be getting still stronger yet. This assumption is based on the fact that it takes a bit of time for the advertisements in the journals to start becoming effective. When they do they should be bringing in a decent amount of business. Another reason for the business starting to really ramp up by month five is that the networking, that SFB has been continuously working on, will finally begin taking hold and the new customers will be spreading the word about SFB.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Buyers | $55,172 | $64,587 | $69,854 |
Sellers | $18,560 | $22,587 | $24,854 |
Total Sales | $73,732 | $87,174 | $94,708 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Buyers | $0 | $0 | $0 |
Sellers | $0 | $0 | $0 |
Subtotal Direct Cost of Sales | $0 | $0 | $0 |
Silicon Freight Brokers will have several milestones early on:
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Business Plan Completion | 1/1/2001 | 1/1/2001 | $0 | Steve | Marketing |
Office Set-up | 3/1/1999 | 4/1/1999 | $0 | Steve | Department |
Website Creation | 3/1/1999 | 2/2/2002 | $0 | Steve | Department |
Hiring Third Employee | 3/1/1999 | 4/1/2002 | $0 | Steve | Department |
Totals | $0 |
Silicon Freight Brokers is a C Corporation with Steve Tookarefol owning 100% of the stock.
Steve, the founder and sole stockholder has a degree in mathematics from Notre Dame University. While in college, Steve worked in a travel agency, learning the nuances of a service-based organization that works on commission. After college, Steve joined Speedy Freight Lines beginning in the accounts department. Recognizing the talent that they had with Steve, Speedy began to move him through many different departments to familiarize him with the entire company. Steve rose to manager of broker accounts and held the position for two years. Steve spent a total of eight years at Speedy. During 2000, Speedy brought a new CEO on board and Steve felt that the company was now being guided in the wrong direction so he left to start his own company.
Steve will be assisted on a consulting basis by his wife, Wendy, who has spent the last seven years as a consultant for Intel and Texas Instruments (among others). Wendy’s areas of expertise include processor usage of silicon chips.
The combination of Steve’s knowledge of the shipping industry and Wendy’s knowledge of silicon chip usage has given SFB the power to succeed in this niche freight brokerage market.
The staff will consist of Steve working full time for SFB as the capacity of owner and licensed broker.
SFB will be hiring additional employees for a secretary/receptionist position and then a customer service/account representative. These positions will be paid an hourly wage and will generally be working full time. SFB will bring these two positions on at staggered times.
SFB will also be using Steve’s wife, Wendy, as an industry consultant who will be generally paid on a monthly invoice.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
President/Broker | $24,000 | $24,000 | $24,000 |
Secretary | $15,840 | $15,840 | $15,840 |
Customer Service/Account Representitve | $12,960 | $15,840 | $15,840 |
Other | $0 | $0 | $0 |
Total People | 3 | 3 | 3 |
Total Payroll | $52,800 | $55,680 | $55,680 |
The following subtopics will provide more financial information.
See following table for general assumptions.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 25.42% | 25.00% | 25.42% |
Other | 0 | 0 | 0 |
This break-even analysis table and chart below project the necessary commission per month. As a service provider business we have labor costs and expenses, but no direct costs of sales. Salary costs are included in the Personnel table and expenses are listed in the Profit and Loss table.
Break-even Analysis | |
Monthly Revenue Break-even | $6,251 |
Assumptions: | |
Average Percent Variable Cost | 0% |
Estimated Monthly Fixed Cost | $6,251 |
The following table presents the projected profit and loss.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $73,732 | $87,174 | $94,708 |
Direct Cost of Sales | $0 | $0 | $0 |
Other | $0 | $0 | $0 |
Total Cost of Sales | $0 | $0 | $0 |
Gross Margin | $73,732 | $87,174 | $94,708 |
Gross Margin % | 100.00% | 100.00% | 100.00% |
Expenses | |||
Payroll | $52,800 | $55,680 | $55,680 |
Sales and Marketing and Other Expenses | $4,800 | $4,250 | $4,250 |
Depreciation | $672 | $672 | $672 |
Website Maintenance | $780 | $780 | $780 |
Utilities, DSL | $1,440 | $1,440 | $1,440 |
Insurance, Licenses | $1,200 | $1,200 | $1,200 |
Rent | $5,400 | $5,400 | $5,400 |
Payroll Taxes | $7,920 | $8,352 | $8,352 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $75,012 | $77,774 | $77,774 |
Profit Before Interest and Taxes | ($1,280) | $9,400 | $16,934 |
EBITDA | ($608) | $10,072 | $17,606 |
Interest Expense | $0 | $0 | $0 |
Taxes Incurred | $0 | $2,350 | $4,304 |
Net Profit | ($1,280) | $7,050 | $12,630 |
Net Profit/Sales | -1.74% | 8.09% | 13.34% |
The following table shows our projected cash flow.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $18,433 | $21,794 | $23,677 |
Cash from Receivables | $42,219 | $62,996 | $69,694 |
Subtotal Cash from Operations | $60,652 | $84,789 | $93,371 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $4,000 | $0 | $0 |
Subtotal Cash Received | $64,652 | $84,789 | $93,371 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $52,800 | $55,680 | $55,680 |
Bill Payments | $19,784 | $23,575 | $25,565 |
Subtotal Spent on Operations | $72,584 | $79,255 | $81,245 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $72,584 | $79,255 | $81,245 |
Net Cash Flow | ($7,932) | $5,535 | $12,126 |
Cash Balance | $8,418 | $13,953 | $26,079 |
The following table shows the projected balance sheet.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $8,418 | $13,953 | $26,079 |
Accounts Receivable | $13,080 | $15,465 | $16,801 |
Other Current Assets | $0 | $0 | $0 |
Total Current Assets | $21,498 | $29,418 | $42,880 |
Long-term Assets | |||
Long-term Assets | $2,200 | $2,200 | $2,200 |
Accumulated Depreciation | $672 | $1,344 | $2,016 |
Total Long-term Assets | $1,528 | $856 | $184 |
Total Assets | $23,026 | $30,274 | $43,064 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $1,756 | $1,954 | $2,114 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $1,756 | $1,954 | $2,114 |
Long-term Liabilities | $0 | $0 | $0 |
Total Liabilities | $1,756 | $1,954 | $2,114 |
Paid-in Capital | $26,000 | $26,000 | $26,000 |
Retained Earnings | ($3,450) | ($4,730) | $2,320 |
Earnings | ($1,280) | $7,050 | $12,630 |
Total Capital | $21,270 | $28,320 | $40,950 |
Total Liabilities and Capital | $23,026 | $30,274 | $43,064 |
Net Worth | $21,270 | $28,320 | $40,950 |
The following table contains important business ratios from the freight transportation arrangement industry, as determined by the Standard Industry Classification (SIC) Index code 4731.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 18.23% | 8.64% | 4.00% |
Percent of Total Assets | ||||
Accounts Receivable | 56.80% | 51.08% | 39.01% | 27.00% |
Other Current Assets | 0.00% | 0.00% | 0.00% | 37.60% |
Total Current Assets | 93.36% | 97.17% | 99.57% | 65.20% |
Long-term Assets | 6.64% | 2.83% | 0.43% | 34.80% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 7.63% | 6.45% | 4.91% | 36.10% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 16.30% |
Total Liabilities | 7.63% | 6.45% | 4.91% | 52.40% |
Net Worth | 92.37% | 93.55% | 95.09% | 47.60% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 100.00% | 100.00% | 100.00% | 33.90% |
Selling, General & Administrative Expenses | 101.74% | 91.91% | 86.59% | 24.00% |
Advertising Expenses | 1.63% | 0.75% | 0.69% | 0.50% |
Profit Before Interest and Taxes | -1.74% | 10.78% | 17.88% | 1.20% |
Main Ratios | ||||
Current | 12.24 | 15.06 | 20.28 | 1.59 |
Quick | 12.24 | 15.06 | 20.28 | 1.32 |
Total Debt to Total Assets | 7.63% | 6.45% | 4.91% | 52.40% |
Pre-tax Return on Net Worth | -6.02% | 33.19% | 41.35% | 2.90% |
Pre-tax Return on Assets | -5.56% | 31.05% | 39.32% | 6.10% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | -1.74% | 8.09% | 13.34% | n.a |
Return on Equity | -6.02% | 24.89% | 30.84% | n.a |
Activity Ratios | ||||
Accounts Receivable Turnover | 4.23 | 4.23 | 4.23 | n.a |
Collection Days | 56 | 80 | 83 | n.a |
Accounts Payable Turnover | 12.26 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 28 | 29 | n.a |
Total Asset Turnover | 3.20 | 2.88 | 2.20 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.08 | 0.07 | 0.05 | n.a |
Current Liab. to Liab. | 1.00 | 1.00 | 1.00 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $19,742 | $27,464 | $40,766 | n.a |
Interest Coverage | 0.00 | 0.00 | 0.00 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.31 | 0.35 | 0.45 | n.a |
Current Debt/Total Assets | 8% | 6% | 5% | n.a |
Acid Test | 4.79 | 7.14 | 12.33 | n.a |
Sales/Net Worth | 3.47 | 3.08 | 2.31 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
Buyers | 0% | $750 | $1,400 | $2,100 | $3,500 | $4,100 | $5,400 | $5,874 | $6,212 | $6,321 | $6,400 | $6,457 | $6,658 |
Sellers | 0% | $250 | $600 | $1,100 | $1,500 | $900 | $1,800 | $1,897 | $1,999 | $1,800 | $2,100 | $2,214 | $2,400 |
Total Sales | $1,000 | $2,000 | $3,200 | $5,000 | $5,000 | $7,200 | $7,771 | $8,211 | $8,121 | $8,500 | $8,671 | $9,058 | |
Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Buyers | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sellers | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
President/Broker | 0% | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Secretary | 0% | $0 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 |
Customer Service/Account Representitve | 0% | $0 | $0 | $0 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 |
Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total People | 1 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | |
Total Payroll | $2,000 | $3,440 | $3,440 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $1,000 | $2,000 | $3,200 | $5,000 | $5,000 | $7,200 | $7,771 | $8,211 | $8,121 | $8,500 | $8,671 | $9,058 | |
Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Gross Margin | $1,000 | $2,000 | $3,200 | $5,000 | $5,000 | $7,200 | $7,771 | $8,211 | $8,121 | $8,500 | $8,671 | $9,058 | |
Gross Margin % | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | |
Expenses | |||||||||||||
Payroll | $2,000 | $3,440 | $3,440 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | |
Sales and Marketing and Other Expenses | $450 | $450 | $450 | $450 | $450 | $450 | $350 | $350 | $350 | $350 | $350 | $350 | |
Depreciation | $56 | $56 | $56 | $56 | $56 | $56 | $56 | $56 | $56 | $56 | $56 | $56 | |
Website Maintenance | $65 | $65 | $65 | $65 | $65 | $65 | $65 | $65 | $65 | $65 | $65 | $65 | |
Utilities, DSL | $120 | $120 | $120 | $120 | $120 | $120 | $120 | $120 | $120 | $120 | $120 | $120 | |
Insurance, Licenses | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
Rent | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | $450 | |
Payroll Taxes | 15% | $300 | $516 | $516 | $732 | $732 | $732 | $732 | $732 | $732 | $732 | $732 | $732 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $3,541 | $5,197 | $5,197 | $6,853 | $6,853 | $6,853 | $6,753 | $6,753 | $6,753 | $6,753 | $6,753 | $6,753 | |
Profit Before Interest and Taxes | ($2,541) | ($3,197) | ($1,997) | ($1,853) | ($1,853) | $347 | $1,018 | $1,458 | $1,368 | $1,747 | $1,918 | $2,305 | |
EBITDA | ($2,485) | ($3,141) | ($1,941) | ($1,797) | ($1,797) | $403 | $1,074 | $1,514 | $1,424 | $1,803 | $1,974 | $2,361 | |
Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Net Profit | ($2,541) | ($3,197) | ($1,997) | ($1,853) | ($1,853) | $347 | $1,018 | $1,458 | $1,368 | $1,747 | $1,918 | $2,305 | |
Net Profit/Sales | -254.10% | -159.85% | -62.41% | -37.06% | -37.06% | 4.82% | 13.10% | 17.76% | 16.85% | 20.55% | 22.12% | 25.45% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $250 | $500 | $800 | $1,250 | $1,250 | $1,800 | $1,943 | $2,053 | $2,030 | $2,125 | $2,168 | $2,265 | |
Cash from Receivables | $0 | $25 | $775 | $1,530 | $2,445 | $3,750 | $3,805 | $5,414 | $5,839 | $6,156 | $6,100 | $6,379 | |
Subtotal Cash from Operations | $250 | $525 | $1,575 | $2,780 | $3,695 | $5,550 | $5,748 | $7,467 | $7,870 | $8,281 | $8,268 | $8,644 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $4,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $250 | $525 | $1,575 | $2,780 | $7,695 | $5,550 | $5,748 | $7,467 | $7,870 | $8,281 | $8,268 | $8,644 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $2,000 | $3,440 | $3,440 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | $4,880 | |
Bill Payments | $50 | $1,492 | $1,701 | $1,708 | $1,917 | $1,917 | $1,914 | $1,817 | $1,817 | $1,817 | $1,817 | $1,817 | |
Subtotal Spent on Operations | $2,050 | $4,932 | $5,141 | $6,588 | $6,797 | $6,797 | $6,794 | $6,697 | $6,697 | $6,697 | $6,697 | $6,697 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $2,050 | $4,932 | $5,141 | $6,588 | $6,797 | $6,797 | $6,794 | $6,697 | $6,697 | $6,697 | $6,697 | $6,697 | |
Net Cash Flow | ($1,800) | ($4,407) | ($3,566) | ($3,808) | $898 | ($1,247) | ($1,046) | $770 | $1,173 | $1,584 | $1,571 | $1,947 | |
Cash Balance | $14,551 | $10,143 | $6,577 | $2,769 | $3,667 | $2,420 | $1,374 | $2,144 | $3,317 | $4,901 | $6,472 | $8,418 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $16,350 | $14,551 | $10,143 | $6,577 | $2,769 | $3,667 | $2,420 | $1,374 | $2,144 | $3,317 | $4,901 | $6,472 | $8,418 |
Accounts Receivable | $0 | $750 | $2,225 | $3,850 | $6,070 | $7,375 | $9,025 | $11,048 | $11,792 | $12,044 | $12,263 | $12,666 | $13,080 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $16,350 | $15,301 | $12,368 | $10,427 | $8,839 | $11,042 | $11,445 | $12,422 | $13,936 | $15,360 | $17,163 | $19,137 | $21,498 |
Long-term Assets | |||||||||||||
Long-term Assets | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 |
Accumulated Depreciation | $0 | $56 | $112 | $168 | $224 | $280 | $336 | $392 | $448 | $504 | $560 | $616 | $672 |
Total Long-term Assets | $2,200 | $2,144 | $2,088 | $2,032 | $1,976 | $1,920 | $1,864 | $1,808 | $1,752 | $1,696 | $1,640 | $1,584 | $1,528 |
Total Assets | $18,550 | $17,445 | $14,456 | $12,459 | $10,815 | $12,962 | $13,309 | $14,230 | $15,688 | $17,056 | $18,803 | $20,721 | $23,026 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $1,436 | $1,644 | $1,644 | $1,853 | $1,853 | $1,853 | $1,756 | $1,756 | $1,756 | $1,756 | $1,756 | $1,756 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $1,436 | $1,644 | $1,644 | $1,853 | $1,853 | $1,853 | $1,756 | $1,756 | $1,756 | $1,756 | $1,756 | $1,756 |
Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Liabilities | $0 | $1,436 | $1,644 | $1,644 | $1,853 | $1,853 | $1,853 | $1,756 | $1,756 | $1,756 | $1,756 | $1,756 | $1,756 |
Paid-in Capital | $22,000 | $22,000 | $22,000 | $22,000 | $22,000 | $26,000 | $26,000 | $26,000 | $26,000 | $26,000 | $26,000 | $26,000 | $26,000 |
Retained Earnings | ($3,450) | ($3,450) | ($3,450) | ($3,450) | ($3,450) | ($3,450) | ($3,450) | ($3,450) | ($3,450) | ($3,450) | ($3,450) | ($3,450) | ($3,450) |
Earnings | $0 | ($2,541) | ($5,738) | ($7,735) | ($9,588) | ($11,441) | ($11,094) | ($10,076) | ($8,618) | ($7,250) | ($5,503) | ($3,585) | ($1,280) |
Total Capital | $18,550 | $16,009 | $12,812 | $10,815 | $8,962 | $11,109 | $11,456 | $12,474 | $13,932 | $15,300 | $17,047 | $18,965 | $21,270 |
Total Liabilities and Capital | $18,550 | $17,445 | $14,456 | $12,459 | $10,815 | $12,962 | $13,309 | $14,230 | $15,688 | $17,056 | $18,803 | $20,721 | $23,026 |
Net Worth | $18,550 | $16,009 | $12,812 | $10,815 | $8,962 | $11,109 | $11,456 | $12,474 | $13,932 | $15,300 | $17,047 | $18,965 | $21,270 |
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Written by Dave Lavinsky
Over the past 20+ years, we have helped over 9,000 entrepreneurs and business owners create business plans to start and grow their freight broker businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a freight broker business plan template step-by-step so you can create your plan today.
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A business plan provides a snapshot of your freight broker business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
If you’re looking to start a freight broker business or grow your existing freight broker business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your freight broker business in order to improve your chances of success. Your freight broker business plan is a living document that should be updated annually as your company grows and changes.
With regards to funding, the main sources of funding for a freight broker business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
Personal savings is the other most common form of funding for a freight broker business. Venture capitalists will usually not fund a freight broker business. They might consider funding a freight broker business with a national presence, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results. With that said, personal savings and bank loans are the most common funding paths for freight broker businesses.
How to write a business plan for a freight brokerage.
If you want to start a freight broker business or expand your current one, you need a business plan. Below are links to each section of your freight broker business plan template:
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of freight broker business you are operating and the status. For example, are you a startup, do you have a freight broker business that you would like to grow, or are you operating a chain of freight broker businesses?
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the freight broker industry. Discuss the type of freight broker business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
In your company analysis, you will detail the type of freight broker business you are operating.
For example, you might operate one of the following types of freight broker businesses:
In addition to explaining the type of freight broker business you will operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to question such as:
In your industry analysis, you need to provide an overview of the freight broker industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the freight broker industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy, particularly if your research identifies market trends.
The following questions should be answered in the industry analysis section of your freight broker business plan:
The customer analysis section of your freight broker business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: shippers, manufacturers, producers, distributors, and suppliers.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of freight broker business you operate. Clearly, shippers would respond to different marketing promotions than wholesale distributors, for example.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the customers you seek to serve. Because most freight broker businesses primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other freight broker businesses.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes independent truckers and logistics companies. You need to mention such competition as well.
With regards to direct competition, you want to describe the other freight broker businesses with which you compete. Most likely, your direct competitors will be house flippers located very close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a freight broker business plan, your marketing plan should include the following:
Product : In the product section, you should reiterate the type of freight broker company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to a freight broker, will you provide real-time and fully electronic tracking services, electronic or manual booking services for drivers, or a 24 hour support phone number?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.
Place : Place refers to the location of your freight broker company. Document your location and mention how the location will impact your success. For example, is your freight broker business located in or near a warehouse, an office setting, completely remote, etc. Discuss how your location might be the ideal location for your customers.
Promotions : The final part of your freight broker marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your freight broker business, including negotiating contracts with carriers, finding efficient shipping routes, booking shipments with shippers and carriers, and tracking shipments.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your 100 th shipment, a date when you secure your 10 th shipping client, or when you hope to reach $X in revenue. It could also be when you expect to expand your freight broker business to a new city.
To demonstrate your freight broker business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally, you and/or your team members have direct experience in managing freight broker businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing logistic operations or successfully running small businesses.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.
Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you book 5 shipments a day or 5 per week? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your freight broker business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a freight broker business:
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include contracts you have completed with shippers and/or truck drivers and carriers.
Putting together a business plan for your freight broker is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the freight broker industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful freight broker business.
What is the easiest way to complete my freight broker business plan.
Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Freight Broker Business Plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of freight broker business you are operating and the status; for example, are you a startup, do you have a freight broker business that you would like to grow, or are you operating a chain of freight broker businesses?
Don’t you wish there was a faster, easier way to finish your Freight Broker business plan?
Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success. Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.
Written by Dave Lavinsky
You’ve come to the right place to create your business plan.
We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their freight broker companies.
Below is a template to help you create each section of your Freight Broker business plan.
Business overview.
Freight Specialists Inc. is a newly incorporated shipping and logistics company located in Shreveport, Louisiana. The company will primarily focus on providing clients with transportation and logistics solutions for all of their shipping needs. Freight Specialists Inc. is operated by professionals who are able to provide the most cost effective options within the desired timeframe.
Freight Specialists Inc. will be owned and operated by John McIntosh and Manny Provencio. They are client account representatives at another local transportation company and have learned the ins and the outs of the freight brokerage industry. As the duo have been working in the industry for over 15 years, they have amassed a loyal client base and will continue to provide logistics solutions to their clients and other businesses requiring transportation in the southeastern United States.
The following are the services that Freight Solutions Inc will provide:
Freight Solutions Inc. will target businesses within a 300-mile radius of Shreveport, Louisiana. There are approximately 3,000 businesses within the targeted geographic radius that regularly require transportation and logistics services.
Freight Solutions Inc. will be owned and operated by John McIntosh and Manny Provencio. They have recruited the former administrative assistant, Martha Bradley, to be the Office Manager and help manage the office and operations. Additionally, John and Manny will hire a full-time Controller to manage the bookkeeping, tax payments, and financial obligations.
Freight Solutions Inc. will be able to achieve success by offering the following competitive advantages:
Freight Solutions Inc. is seeking $250,000 in debt financing to launch the brokerage company. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, working capital and marketing costs for the business. The breakout of the funding is below:
The following graph below outlines the pro forma financial projections for Best Bet Property Management.
Who is freight solutions inc..
Freight Specialists Inc. is a newly incorporated shipping and logistics company located in Shreveport, Louisiana. The company will primarily focus on providing clients with transportation and logistics solutions for all of their shipping needs. As the company is strategically located in the southeastern part of the United States, it will be able to service clients from Texas to Florida and into the midwest. Freight Specialists Inc. is operated by professionals who are able to provide the most cost effective options within the desired timeframe.
Freight Specialists Inc. will be owned and operated by John McIntosh and Manny Provencio, two college friends who have worked in the transportation and logistics industry for over ten years. Now that the duo has been able to provide transportation solutions for dozens of clients, they are ready to branch out on their own and continue to service the area by providing technological solutions paired with the best customer service and pricing in the area.
John and Manny have received written commitments from six clients who will transfer their logistics contracts to Freight Specialists Inc. They will also target more companies in other states that they have not previously marketed to. John and Manny will take the industry knowledge and expertise from their previous company and apply it to their own company with a targeted and more professional approach.
Freight Solutions Inc. is owned and operated by John McIntosh and Manny Provencio. They met while attending business classes at the nearby university and worked together as client account representatives at a local transportation company. Their goal was to learn about the business, build relationships and a sustainable client base, and eventually open their own freight brokerage company. Now that the duo have achieved the knowledge and client base, they will open Freight Solutions Inc. as a Louisiana limited liability company.
Since incorporation, Freight Solutions Inc. has achieved the following milestones:
The following will be the services Freight Solutions Inc. will provide:
The Freight Broker industry is booming. Demand for industry services has climbed over the past five years, as rising economic activity led to bolstered consumer spending. E-commerce sales and industrial output levels have each risen, boosting domestic freight volumes as a result and generating demand for freight brokerage services from manufacturers and online retailers. Moreover, as total US trade volumes have increased, so too has demand for international freight services that require brokerage.
Industry revenue is anticipated to continue to climb at an annualized rate of 3.3%. Economic growth in the US, increased consumer spending and e-commerce sales, is expected to cause freight volumes to rise. Furthermore, total trade value is forecast to continue to grow in the United States, operators will continue to expand their trade-based operations as emerging markets further develop and trade grows. Overall, demand for industry services is expected to dramatically increase over the next five years.
Demographic profile of target market.
Freight Solutions Inc. will target business owners that regularly require transportation and freight services. The company will aim to reach thousands of businesses throughout Louisiana and the southeastern United States. In Shreveport alone, there are approximately businesses that regularly require transportation services.
The business overview for Shreveport, Louisiana is as follows:
Sector | Number of establishments | Number of employees |
---|---|---|
Utilities | 24 | 3,433 |
Retail trade | 3,753 | 73,994 |
Transportation and warehousing | 937 | 48,292 |
Information | 737 | 17,558 |
Finance and insurance | 2,661 | 72,545 |
Real estate and rental and leasing | 2,336 | 16,218 |
Professional, scientific, and technical services | 5,288 | 53,825 |
Administrative and support and waste management and remediation services | 2,430 | 105,547 |
Educational services | 347 | 3,355 |
Health care and social assistance | 4,267 | 107,483 |
Arts, entertainment, and recreation | 416 | 10,741 |
Accommodation and food services | 2,958 | 69,330 |
Other services (except public administration) | 2,204 | 20,997 |
Freight Solutions Inc. will primarily target the following customer profiles:
Direct and indirect competitors.
Freight Solutions Inc. will face competition from other companies with similar business profiles. A description of each competitor company is below.
Desert City Logistics Group is one of the largest freight brokerage companies in the United States. They operate primarily in the southeast and southwestern part of the country and have large Fortune 500 clients. The company has over 20 years of industry experience and utilizes logistics and technology to their advantage. Since the company received a large capital infusion ten years ago, Desert City Logistics Group was able to triple their business and expand their operations. Owned by a family whose history is in the trucking industry, the current owners took their family legacy and expanded the services.
Desert City Logistics Group provides air, rail, ocean, and trucking transportation services. While trucking is their specialty, they have been able to increase their road carrier base and have semis on the road at all times. The company is able to utilize all forms of transportation to make international trips and provide all customs clearance and documentation. The team at Desert City is able to customize all transportation services and find logistics solutions for all their clients.
QMT Logistics Services was founded in 1991 and is based out of Philadelphia, Pennsylvania. The company provides outsourced logistics services as well as freight brokerage services. Their large fleet is able to manage more than a million loads every year through all freight modes: LTL, rail and barge, air and ocean, and intermodal. The company’s in-house technology allows their clients to view the load from beginning to end. QMT has invested millions of dollars into the technology aspect of their business in the last five years.
QMT Logistics Services provides the following logistics solutions: freight brokerage services, national account solutions, transportation management system, inbound freight management, managed transportation services, outsourced transportation management, and international shipping. The company serves the following industries: retail logistics, food and beverage logistics, CPG, metals logistics, oil and gas, mining logistics, building and construction, heavy haul, and military and government.
Founded in 2001, Bane Logistics has relationships with over 100 hand-selected carriers who are able to move any product from anypoint in the country to anywhere in the world. The company focuses mainly on partnering with quality carriers that are reliable and cost effective. All carriers are carefully selected and vetted to ensure optimum delivery. Bane utilizes a scorecard program to constantly monitor each carrier’s performance. Bane Logistics has ten locations throughout the country.
Aside from warehousing and distribution, contract packaging, eCommerce fulfillment, and cross docking services, the company provides a full range of transportation services. Their freight brokerage services include evaluating thousands of carriers, monitoring all shipments, maintaining compliance, and comparing rates to negotiate with carriers to find the best price.
Freight Solutions Inc. will be able to offer the following advantages over their competition:
Brand & value proposition.
Freight Solutions Inc. will offer the unique value proposition to its clientele:
The promotions strategy for Freight Solutions is as follows:
John and Manny have acquired a large list of loyal clients who regularly utilize their expertise in shipping their products. The ownership team has acquired Letters of Intent from a handful of clients who have committed to switching to Freight Solutions Inc. The clients will also refer other businesses to switch to the new freight brokerage company.
Freight Solutions Inc. will become a member of all industry associations and membership organizations, such as the Shreveport Chamber of Commerce.
The company will invest in professionally designed print ads to display in programs or flyers at industry networking events.
Freight Solutions Inc. will hire an advertising firm to develop the company’s website. The website will be well organized, informative, and list all their solutions that the company will be able to provide. The website will also list their contact information so that prospective clients will be able to easily contact them. The advertising firm will also manage Freight Solution Inc.’s website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “freight brokerage companies” or “local freight broker”, Freight Solutions Inc. will be listed at the top of the search results.
The pricing of Freight Solutions Inc. will be moderate and on par with competitors so customers feel they receive value when purchasing their services.
The following will be the operations plan for Freight Solutions Inc.
Operation Functions:
Freight Solutions Inc. will have the following milestones complete in the next six months.
8/1/202X – Finalize contract to lease office space
8/15/202X – Finalize personnel and employment contracts for Office Manager and Controller
9/1/202X – Finalize list of services and carriers
10/1/202X – Begin networking at industry events
11/1/202X – Freight Solutions Inc. opens its office for business
John and Manny’s friendship began while they were receiving business degrees from the local university. Manny got John a job at the local transportation company he was working at and the two have been Client Operations Managers ever since. Both men possess excellent client service skills, organization, and the ability to find the most cost effective solutions for their clients as well as the most efficient shipping times.
John and Manny have brought on Martha Bradley to take care of all the administrative tasks while they focus on client relations, finding logistics solutions, and keeping up with the latest industry knowledge. Martha has the desired organizational skills to keep the office running as well as the commitment to enable Freight Solutions Inc. to be the best freight brokerage company in Louisiana.
Key revenue & costs.
The revenue drivers for Freight Solutions Inc. are the freight brokerage fees they will charge to businesses requiring logistics solutions. Most brokers charge 5% on gross cost of shipment; Freight Solutions Inc. will only charge 3.5- 4%.
The cost drivers will be the overhead costs required in order to staff a small brokerage office. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Freight Solutions Inc. is seeking $250,000 in debt financing to launch the freight brokerage company. The funding will be dedicated towards securing the office space and purchasing software and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, working capital and marketing costs for the business. The breakout of the funding is below:
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
Income statement.
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
Revenues | ||||||
Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
Expenses & Costs | ||||||
Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
ASSETS | ||||||
Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
LIABILITIES & EQUITY | ||||||
Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
Share Capital | $0 | $0 | $0 | $0 | $0 | |
Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
CASH FLOW FROM OPERATIONS | ||||||
Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
CASH FLOW FROM INVESTMENTS | ||||||
Investment | ($180,950) | $0 | $0 | $0 | $0 | |
Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
CASH FLOW FROM FINANCING | ||||||
Cash from equity | $0 | $0 | $0 | $0 | $0 | |
Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
What is a freight brokerage business plan.
A freight brokerage business plan is a plan to start and/or grow your freight broker business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your business plan using our Freight Broker Business Plan Template here .
There are a number of different kinds of freight broker businesses, some examples include: Agent Model, Asset-Based, and 3PL.
A freight broker business entity can be a sole proprietorship, partnership, or corporation.
Freight broker businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. A business plan for a freight broker business is key to showing investors you are well prepared to start your own business.
Learn more about how to become a freight broker here .
Creating a business plan is essential for any business, but it can be especially helpful for freight brokerage businesses who want to improve their strategy and/or raise funding.
A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.
This article provides an overview of the key elements that every freight brokerage business owner should include in their business plan.
Download the Ultimate Business Plan Template
A freight brokerage business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.
A freight brokerage business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.
Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.
The following are the key components of a successful freight brokerage business plan:
The executive summary of a freight brokerage business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.
This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.
If you are just starting your freight brokerage business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your freight brokerage firm, mention this.
The industry or market analysis is an important component of a freight brokerage business plan. Conduct thorough market research to determine industry trends and document the size of your market.
Questions to answer include:
You should also include sources for the information you provide, such as published research reports and expert opinions.
This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.
For example, a freight brokerage business’ customers may include small businesses that need to ship products domestically, larger businesses with international shipping needs, or e-commerce businesses.
You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.
Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or freight brokerage services with the right marketing.
The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.
For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.
This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.
This part of your freight brokerage business plan should include the following information:
The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.
Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a freight brokerage business include reaching $X in sales. Other examples include expanding to new markets, increasing market share, launching new products/services, and hiring new employees.
List your team members here including their names and titles, as well as their expertise and experience relevant to your specific freight brokerage industry. Include brief biography sketches for each team member.
Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.
Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix).
This includes the following three financial statements:
Your income statement should include:
Revenues | $ 336,090 | $ 450,940 | $ 605,000 | $ 811,730 | $ 1,089,100 |
$ 336,090 | $ 450,940 | $ 605,000 | $ 811,730 | $ 1,089,100 | |
Direct Cost | |||||
Direct Costs | $ 67,210 | $ 90,190 | $ 121,000 | $ 162,340 | $ 217,820 |
$ 67,210 | $ 90,190 | $ 121,000 | $ 162,340 | $ 217,820 | |
$ 268,880 | $ 360,750 | $ 484,000 | $ 649,390 | $ 871,280 | |
Salaries | $ 96,000 | $ 99,840 | $ 105,371 | $ 110,639 | $ 116,171 |
Marketing Expenses | $ 61,200 | $ 64,400 | $ 67,600 | $ 71,000 | $ 74,600 |
Rent/Utility Expenses | $ 36,400 | $ 37,500 | $ 38,700 | $ 39,800 | $ 41,000 |
Other Expenses | $ 9,200 | $ 9,200 | $ 9,200 | $ 9,400 | $ 9,500 |
$ 202,800 | $ 210,940 | $ 220,871 | $ 230,839 | $ 241,271 | |
EBITDA | $ 66,080 | $ 149,810 | $ 263,129 | $ 418,551 | $ 630,009 |
Depreciation | $ 5,200 | $ 5,200 | $ 5,200 | $ 5,200 | $ 4,200 |
EBIT | $ 60,880 | $ 144,610 | $ 257,929 | $ 413,351 | $ 625,809 |
Interest Expense | $ 7,600 | $ 7,600 | $ 7,600 | $ 7,600 | $ 7,600 |
$ 53,280 | $ 137,010 | $ 250,329 | $ 405,751 | $ 618,209 | |
Taxable Income | $ 53,280 | $ 137,010 | $ 250,329 | $ 405,751 | $ 618,209 |
Income Tax Expense | $ 18,700 | $ 47,900 | $ 87,600 | $ 142,000 | $ 216,400 |
$ 34,580 | $ 89,110 | $ 162,729 | $ 263,751 | $ 401,809 | |
10% | 20% | 27% | 32% | 37% |
Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:
Cash | $10,000 | $10,000 | $15,000 | $20,000 | $25,000 | |
Accounts Receivable | $3,000 | $5,500 | $6,500 | $8,500 | $10,500 | |
Prepaid Insurance | $100 | $200 | $300 | $400 | $500 | |
Office Space & Furniture | $5,000 | $6,000 | $8,000 | $10,000 | $12,000 | |
$18,100 | $22,700 | $31,800 | $41,900 | $51,100 | ||
Loans Payable | $35,000 | $30,000 | $25,000 | $20,000 | $15,000 | |
Credit Card Debt Owed | $1,500 | $2,000 | $3,000 | $4,000 | $5,000 | |
Accounts Payable | $2,000 | $3,500 | $5,500 | $8,500 | $11,500 | |
Unearned Revenue | $100 | $100 | $100 | $100 | $100 | |
$38,600 | $36,100 | $36,600 | $34,600 | $31,600 | ||
Owner Equity / Capital | $18,100 | $22,700 | $31,800 | $41,900 | $51,100 | |
Retained Earnings | $61,680 | $74,680 | $99,680 | $135,680 | $181,680 | |
$79,780 | $110,380 | $136,380 | $170,490 | $222,790 |
Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:
Below is a sample of a projected cash flow statement for a startup freight brokerage business.
Cash | $ 105,342 | $ 188,252 | $ 340,881 | $ 597,431 | $ 869,278 |
Other Current Assets | $ 41,600 | $ 55,800 | $ 74,800 | $ 90,200 | $ 121,000 |
Total Current Assets | $ 146,942 | $ 244,052 | $ 415,681 | $ 687,631 | $ 990,278 |
Fixed Assets | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 |
Accum Depreciation | $ 5,200 | $ 10,400 | $ 15,600 | $ 20,800 | $ 25,000 |
Net fixed assets | $ 19,800 | $ 14,600 | $ 9,400 | $ 4,200 | $ 0 |
$ 166,742 | $ 258,652 | $ 425,081 | $ 691,831 | $ 990,278 | |
Current Liabilities | $ 23,300 | $ 26,100 | $ 29,800 | $ 32,800 | $ 38,300 |
Debt outstanding | $ 108,862 | $ 108,862 | $ 108,862 | $ 108,862 | $ 0 |
$ 132,162 | $ 134,962 | $ 138,662 | $ 141,662 | $ 38,300 | |
Share Capital | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Retained earnings | $ 34,580 | $ 123,690 | $ 286,419 | $ 550,170 | $ 951,978 |
$ 34,580 | $ 123,690 | $ 286,419 | $ 550,170 | $ 951,978 | |
$ 166,742 | $ 258,652 | $ 425,081 | $ 691,831 | $ 990,278 |
You will also want to include an appendix section which will include:
Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your freight brokerage company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.
A good business plan can also be a valuable tool that helps you secure funding, measure progress, and keep track of milestones along the way. By following the tips and including all the essential components detailed in this guide, you will be well on your way to drafting a successful business plan for your freight brokerage company.
Starting a freight brokerage business can be both exciting and challenging. As an entrepreneur diving into the world of logistics, having a solid plan is essential. That's where ClickUp's Freight Broker Business Plan Template comes in handy!
With ClickUp's template, you can:
Don't let the complexities of starting a freight brokerage business overwhelm you. Get organized, plan strategically, and watch your business thrive with ClickUp's Freight Broker Business Plan Template today!
Main elements of freight broker business plan template.
To kickstart your freight brokerage business with a solid plan, utilize ClickUp’s Freight Broker Business Plan Template featuring:
Starting a freight broker business can be challenging, but with the right plan in place, you can set yourself up for success. follow these steps to effectively use the freight broker business plan template in clickup:, 1. define your business objectives.
Begin by clearly outlining the objectives of your freight broker business. Determine what services you will offer, your target market, revenue goals, and any unique selling propositions that set your business apart from competitors.
Utilize Goals in ClickUp to set specific, measurable objectives for your business plan.
Research the freight brokerage industry to understand market trends, competitors, and potential challenges. Identify key industry players, market demands, pricing strategies, and regulatory requirements that may impact your business.
Use the Gantt chart feature in ClickUp to create a timeline for your market research activities.
Create a detailed financial plan that includes startup costs, operating expenses, revenue projections, and profit margins. Consider factors such as insurance costs, licensing fees, software expenses, and marketing budgets to ensure financial stability.
Utilize Dashboards in ClickUp to visualize your financial data and track key metrics for your freight broker business.
Define how you will attract clients and promote your services within the competitive freight brokerage market. Develop a marketing strategy that includes digital marketing tactics, networking opportunities, lead generation techniques, and customer retention plans.
Use the Automations feature in ClickUp to automate repetitive marketing tasks and streamline your promotional efforts.
By following these steps and utilizing the Freight Broker Business Plan Template in ClickUp, you can streamline the process of launching and growing your freight broker business effectively.
Entrepreneurs diving into the world of freight brokerage can leverage the Freight Broker Business Plan Template in ClickUp to craft a comprehensive plan for their business venture.
To get started, follow these steps:
Click on “Add Template” to incorporate the Freight Broker Business Plan into your Workspace and specify the location.
Invite key team members or stakeholders to collaborate on the business plan.
Utilize the following features to streamline your planning process:
By organizing your freight broker business plan with ClickUp, you can efficiently map out your strategy, monitor progress, and propel your business forward.
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Home » Business ideas » Transportation Industry » Freight Brokerage & Forwarding
Are you about starting a freight brokerage business? If YES, here is a complete sample freight broker business plan template & feasibility report you can use for FREE . Okay, so we have considered all the requirements for starting a freight brokerage business. We also took it further by analyzing and drafting a sample freight forwarding service marketing plan template backed up by actionable guerrilla marketing ideas for freight brokerage companies. So let’s proceed to the business planning section .
Starting a freights brokerage business requires knowing how to play the perfect role in helping clients ensure that their trucks are filled and also help shippers find reliable carriers. The freight brokerage business is one that has existed early in the 20 th century, and is guided by government regulations that have become less restrictive than it was earlier.
This means it is now easier to go into this business, entry barrier isn’t so high anymore. The business can be quite lucrative especially if the entrepreneur understands the environment and has good network that will make it easy for him or her to find shippers and carriers.
Before starting this business, you would need to seek the services of a business consultant who thoroughly understands the industry and who is familiar with the environment your business is operating from. Another important aspect of the business that must not be overlooked is a business plan. Below is a sample freight brokerage business plan;
1. industry overview.
The freight industry is one that is valued at a $123 billion even though there are no dominant companies holding a high market value in this industry. The growth for this industry has been projected at 5.3% between the periods of 2011 to 2016. There are more than 40,000 freight brokerage businesses employing more than 280,000 people.
Demand in this industry has continually grown over the past five years and this is because the industry has been able to surpass the period before recession, as domestic freight services were pushed up by more demands.
Emerging markets have also contributed to the growth of this industry, as trade has grown tremendously, leading to a high demand for the industry’s trade-related services. According to IBISWorld, the industry over the next five years to 2022 is expected to grow slowly due to limited trade volumes and values.
Most of the activities of the industry is largely concentrated within states in the Southeast, Mid-Atlantic and West that have high levels of trade, manufacturing, and other commercial activities. The southeast region for instance has a large population and commercial base and accounts for 23.4% of the industry’s share.
Asides the industry’s share, the southeast also as the largest population share in the united states of America at 25.4% and also is a home to major ports in the country. The region is also known to host a large proportion of freight employees and support maintenance.
Getting good drivers that are qualified has been hard or freight brokers as their shortage are the limiting factors for the trucking industry. Lack of qualified drivers is why the growth of many fleets has slowed down.
Due to economy downturn, international shipping will slow down and this will affect the freights industry globally, as domestic economics in other countries will be affected as well.
Freight brokers will be able to make decisions that will increase efficiency and also improve customer service due to new technologies, as fleets will implement new technologies in all their trucks so that there will be accurate tracking of packages.
D&L Freight Brokerage LLC is a leading and standard freight brokerage firm here in Detroit – Chicago as well as in the whole of the United States of America. Our vision is to ensure that we offer quality management services to all our long and short distance customers, as well as ensuring that we not only meet the expectations of our customers but that we surpass them as well.
We are established with the sole intention of generating revenue and making profit through offering of our core service as well as other services that we will be offering to boost our income and have a solid bottom line as well. Our offering of other services is to enable us compete favorably against our competitors here in Chicago.
This industry is one that is filled with intense competition, which means that most services offered are uniform in nature; which is why we have introduced dry freights and special haulage in order to stand out from our competitors in the industry.
This is a service based business that is involved with financial management and so requires a high level of ethics and transparency. We intend to ensure that we do not misrepresent the facts to our customers and as such will always offer the highest service in the industry to all our customers.
Because we know how important building the right business structure is, we intend to source for and hire competent and professional staff that understand the business thoroughly and are also aligned to our goals and are committed to ensuring that we achieve these intended goals and objectives. Our employees are always updated as regards the trends in the industry, which makes them better than their counterparts in the industry.
We intend to ensure that we take good care of our employees and as such we will provide the best welfare package that can be found in similar start-ups here in Detroit – Chicago as well as round the United States of America. We also intend to ensure that our employees undergo regular training that will not only enhance their skills but will also improve productivity for our business as well.
We love to take good care of our customers and as such we intend to offer excellent customer service. All our employees are duly trained and understand that customers are so precious and should be treated well. They are also updated about the trends in the industry and as regards the company’s policies in order to give clients accurate information.
D&L Freight Brokerage LLC, is owned and run by Dean and Linda James, two siblings who have over 25 years experience in the freights brokerage industry. Their experience in this industry will allow us achieve our goals and objectives on time.
At D&L Freight Brokerage, LLC, our intention is to provide management service for long and short distance freight services in an efficient and effective manner to our customers both corporate and domestic in our target market.
However, we also intend to create multiple sources of income in addition to our core service which will include specialty hauling and consultancy services. This is so because we intend to generate revenue and make profits that will sustain the business.
We also intend to ensure that our revenue generation is under the permissible law of the United States of America and within reasonable ambition. Therefore some of the services we intend to offer are;
Our Business Structure
Due to our desire at achieving excellence in our business, we intend to build a freight brokerage firm that is not only standard but will be a force to be reckoned with in the industry and because of this, we have laid that plans and processes that will ensure that we get it right from the beginning by hiring competent and hardworking employees to all the available positions in our firm.
The employees that we would be hiring to our firm are those that understand the objectives and goals of our business and are willing and committed to ensuring that we are able to not only meet our goals and desired objectives but also exceed it as well. Due to this we are willing to go the extra mile to ensure that our employees work in a well structured environment.
Due to the wide range of services we intend to offer our various customers, we will hire more employees than the conventional freight brokerage firm and this is due to the fact that our different services will open up more tasks that will involve more people have to man it with the different responsibilities therein.
Below, therefore is the business structure we intend to build at D&L Freights Brokerage, LLC;
Chief Executive Officer
Operations Manager
Human Resources & Administrative Manager
Marketing Executives
Customer Service Executives
Security Guard
The fact that we intend to run a standard freight brokerage business has led us to seek the services of a reputable business consultant who not only understands the industry thoroughly but also the business as well and knows how we would likely fare in this environment.
The analysis to be used by the business consultant is one that is very objective and will look at all our attributes and use this to decide if it would be worthwhile going into the business and being able to face all those that we would likely have to compete with in this environment. This critical review was done based on our environment as well as similar start-ups such as our here in Chicago.
In determining how best to know if we were suitable for this kind of environment, our hired business consultant used our strengths, weaknesses, opportunities and threats to be able to give us the different scenarios we were likely to face in the course of running the business.
Therefore, below is the SWOT analysis that was conducted by the business consultant on behalf of D&L Freight Brokerage, LLC;
We have several attributes in our advantage. First of all, we have a positive public image that customers have come to identify with and this is due to the fact that we take how we project ourselves very seriously and ensure that all our employees do this as well.
Another strength in our favour is the fact that we have an excellent customer service, and this is because we take our customers very seriously and have strategies in place that has ensured that we retain more than 80% of our customers.
Also, our loyal customers are given discounts every once in a while as we strive to not only meet but surpass the expectations of our customers. We are proud of our facilities as they are among the best in the industry across similar start-ups such as ours. We also have a strong partnership with the carrier industry, which leads to a better lead time for our shipper clients.
As a new business, we are running on a tight budget and do not have the necessary money to advertise as we wish or get the needed employees to come and work for us. We will also be facing stiff competition from other freight businesses here in Chicago. Also as a start-up, we have less experience as regards how the industry works as against our already established competitors. We also have limited knowledge about the business we intend going into.
There are several available opportunities in this industry for us as trainings are available in almost every aspect and we plan to take advantage of these several opportunities. We also intend to build several networking opportunities with others in the industry. There will always be new carriers and shippers coming into the business which gives us enough opportunities as we wish.
There are several threats that we are likely to encounter during the course of starting our business and this is having to contend about changing government policies regarding the freights industry another threat is having to compete intensely with rivals in the same environment. We know that threats can crop up any time and we are prepared on how to tackle these threats.
Most of the goods that are transported in the United States of America are carried via trucks. According to statistics, 60% of the annual gross tonnage moved in the United States in the transportation network out of sea, land and air, are moved by trucks.
These trucks which are under various categories (semi-trucks, motor carriers, and 18-wheelers) usually move freight from one destination to the other in the United States of America. All cargoes ranging from consumer goods, general cargoes to perishable goods are usually transported via these trucks.
There has been a sudden seven-fold increase regarding the freight brokerage firm in the year 2013 from 1970. This is because the industry has more stringent regulations than before, an increase in standard and also there are more sources of income than before.
Lastly, trucks remain a very important mode of goods transportation. 70% of all freight is still via trucks and these trends will likely no change in the near future. However, the issues for most freight brokers are the shortage of truck drivers, as this issue keeps plaguing this industry.
Even though it might look like the target market is a bit limited to certain individuals and companies for freight businesses, the target market is wider than what might be presumed by us, which is why we have decided to conduct a thorough market survey based on our location here in Chicago.
The intention of conducting a market survey on our target market is to ensure that we have an idea of what to expect from our target market so as to be able to draft effective strategies that would suit these strategies. From the result of our marketing survey, we are in business to offer our services to the following group of people;
Our competitive advantage
Our intention at D&L Freights Brokerage, LLC is to ensure that we provide quality management services to all our customers either short or long distance freights. We also aim to ensure that we not only meet our customers’ expectations but exceed it as well by offering them services that will surpass what they can get from our nearest rivals here in Detroit – Chicago, as well as round the United States of America as well.
However, for us to achieve this, we intend to have several laid down strategies in place that will allow us have the intended edge over our competitors.
One of the first competitive advantages we have over our competitors is the fact that we have a huge network with the carrier industry, which means that shippers who approach us have an advantage over those who don’t as they will be able to move their goods faster. Asides from that, it also means we would get and disseminate vital industry information that will be of huge benefits to our clients.
Due to our desire to build the best business structure, we intend to source for and hire only those who not only understand the business and are professionals but who also understand our core dreams and vision and are committed and willing to ensuring that they are achieved within the set milestones.
We intend to ensure that not only do our employees work in a competitive, creative and conducive environment but that they are also suitably paid better than their counterparts in similar start-ups such as our across the industry an country.
We will also make sure that our employees are well trained so that they would be miles apart from their colleagues in the same industry in terms of skills while also boosting the productivity efficiency for our freight brokerage business.
Finally, we are a huge believer of customer excellence and as such, we would make sure that our customers are well taken care of. Our employees are well trained in attending to customers and making sure that they get what they want. These competitive strategies will make us stand out as we should from others.
D&L Freight Brokerage, LLC is established with the aim of generating revenue and making profit in the freights brokerage industry here in the United States of America. In order to achieve our aim of making enough profit that will sustain our company and also boost our bottom line; we intend to offer various services to all our customers.
The services we intend to offer in order to generate revenue for our freight brokerage business are;
The freight brokerage business has come to stay as shippers and carriers require the services of a broker to manage transactions between them.
We are strategically located in Detroit – Chicago and will have it easy taking on the available market to generate the revenue we need to grow our business. We are also confident that we meet our target and make profit within a year of starting this business.
Our optimism is borne out of the assumptions that we got after critically evaluating the freights industry and what chances we had of ever making it in the industry. We sought the services of a reputable sales consultant here in Detroit – Chicago, who thoroughly understands the business, and who gathered and used data and information peculiar to start-up businesses such as ours here in Detroit – Chicago.
His findings for D&L Freight Brokerage, LLC, which are below was based on certain assumptions and findings that was based on our location;
N.B: It should be noted that the above sales projection were conducted based on what was obtainable in the industry as at the time of the projections. Also several factors such as downturn of the economy and the arrival of a major competitor for the above three year period were put into consideration. It should also be noted that should there be any change in these factors, the sales projected figures might increase or decrease.
Marketing is a very important aspect of any business and so it is necessary that any business that intends to generate the revenue that will boost the business and ensure that it succeeds deploys effective marketing strategies. Having the right marketing strategies will also allow us penetrate the market and position our business in such a way that will allow us gain a huge share of the market, and allow us favorably compete with our competitors here in Detroit – Chicago as well as round the whole United States of America.
In order to have the marketing strategies that would be just right for us, we intend to conduct a market survey that will allow us have detailed information about the market we intend going into. Conducting a market survey is very important as it would allow us have an idea of the characteristics of those in our target market and how well they would respond to our strategies.
We intend to hire the services of a reputable marketing consultant who understands the market thoroughly so as to help us draft the right strategies that would be beneficial to our business and help us also to win a large percentage of the available market here in Chicago as well as all over the United States of America.
We will also ensure that we empower our marketing team in order to develop and modify marketing strategies that will be aligned to our corporate sales and marketing goals at D&L Freight Brokerage, LLC. In summary, D&L Freight Brokerage LLC will adopt the following marketing and sales strategies in order to be able to deliver our wide range of services;
Having the right publicity is very vital to our business and we intend to ensure that we deploy several strategies that will allow us have the right publicity that will positively promote the image of our business; especially as the industry we are in is a very competitive one. Our publicity strategies are aimed at not only penetrating the market and gaining a huge share but also ensuring that these actions allow us boost our bottom line.
Due to this, we intend to hire the services of a brand consultant that will help us draft strategies that will ensure that we positively communicate our brand to the public. The publicity strategies that we would use for our business will allow us grow our brand strongly here in Chicago and all around the whole United States of America as well. We intend to also adopt the use of technologies in communicating our brand to the target market.
Some of the publicity and advertising strategies we intend to use in growing our business at D&L Freight Brokerage, LLC are;
Setting the price for intangible services can be very different from that of physical goods and products; however setting our own price will be determined on a whole lot of factors as we intend to conduct a research that will allow us know what price is right for us as well as affordable for our customers.
We will ensure that the price we set for our services are one that will cover our overhead and running costs and will also be one that is within the range of what our near competitors are offering.
However, in order to attract more customers and increase awareness for our business, we intend to offer a discount in our first three months of operations to all our customers. We have taken a thorough look into how this will affect our bottom line and after a careful study have found that even though our revenue for these three months might be affected a bit, we would not be running at a loss.
Because we understand that our customers are diverse, we at D&L Freights Brokerage, LLC have come up with different payment options. The different payment options we intend to offer all our customers are;
The above payment portal were chosen after deliberating on what would be suitable for us as well as our clients These payment options would work well for both parties without any hitches.
Every business requires capital in order to start up and run successfully. This is because there are a number of things that the capital is supposed to be spent on. Even though this is a service oriented business, there are certain things that are supposed to be in place such as having to lease a facility, payment of employees’ salaries and utility bills for a definite period of time, and other such necessities.
The areas where we therefore intend to use our generated capital on are;
From the above break down, we would need the sum of $200,000 to be able to start up and successfully run our freight brokerage business here in New York City. It should be noted that the bulk of the above amount will be used to pay the salaries of employees for at least 6 months, as well as lease a facility from where we would operate our business from.
Generating Funding / Startup Capital for D&L freights Brokerage Business
D&L Freights Brokerage LLC, is a business owned and run by Dean and Linda James, two siblings with enough experience in the freights business. They have no plans as at now to have an external business partner, which is why they have decided to limit the sourcing of their capital to just three major sources.
The three areas where we intend generating our start-up capital from are;
N.B: We have been able to generate the sum of $50,000 from our joint personal savings and $25,000 from our close friends. We sought the sum of $125,000 from our bank, and after intense negotiation, we agreed that the loan will be repaid in 7 years with a 5% fixed interest rate. All the necessary documents have been signed and we have been told that the money will be credited to our account by the end of the week.
Just like any other business, our freight brokerage is established to not only make profit but remain sustained for a long period of time which might lead to expansion. In order for us to achieve sustainability and expansion, we intend to ensure that we give quality services that will allow our customers remain loyal to us, we also intend to re-invest into our business as well as build a sound business structure that will allow us remain in business for as long as we want.
Customers are the lifeblood of any business and as such we intend to ensure that they are treated well in such a way as to not only make them repeat customers but also ones that will refer others to our business. According to statistics, it is more expensive to attract than retain customers, so we will do all we can to ensure that we not only meet but exceed the expectations of our customers in order to create a high customer satisfaction.
We not only have competent staff that will ensure that we attain customer satisfaction; we will also draft the right strategies that will ensure that we achieve this as well.
In order to ensure that the bottom line of our freight brokerage business is not only boosted but sustained, we will create multiple sources of income and then re-invest the earnings from these multiple sources back into our business. This will allow our business not to constantly seek for external funds by which to run itself but use the revenue it generates to sustain itself.
We are concerned about building a solid business structure and due to this, we intend to go the extra mile in ensuring that we source for and hire only competent and professional employees to handle the different roles that will be assigned to them in order to ensure that our goals and objectives are achieved.
We will ensure that our employees are well trained and receive continuous training that will not only enhance their skills but also increase productivity for our business. We also intend to ensure that our employees are well taken care of by making sure that they have a great welfare package that is better than what similar freight brokerage firms start-ups are offering. We know that if we engage these three measures suitably well, we would be able to sustain and expand our freight brokerage business.
Check List / Milestone
Main Sections In This Post Steps To Starting A Freight Brokerage Business Points to Consider Knowledge Is Power Featured Video
Discover a comprehensive step-by-step guide to kickstart your freight brokerage business.
This post offers insights, examples, and samples as starting points. Access up-to-date information through “Knowledge Is Power” search results.
These resources aid both the startup and established phases of your business.
Share and bookmark for future reference to harness the wealth of valuable information provided.
Let’s get started with the steps.
Below are the steps to starting a freight brokerage business.
Each step is linked to a specific section, allowing you to jump to your desired section or scroll to follow the steps in order.
An Overview of What You’re Getting Into:
Is Starting a Freight Brokerage Business the Right Step for You?
There is a key factor to succeeding in business, and that factor is you!
Understanding your feelings about owning and running a freight brokerage business is important.
Passion is a crucial element for success in your own business.
Passion is the driving force you need.
When you’re passionate about your business and problems arise, you look for solutions. On the other hand, without passion, you’ll look for a way out when problems arise.
How passionate are you about owning your own freight brokerage business?
Let’s go through a short exercise.
Take a few minutes to think about this. It’s important before moving forward.
Imagine you won the lottery, quit your job, traveled the world, and bought your dream home, cars, and everything you ever wanted.
You have given to charity and causes you believe in.
You have helped your friends and family with more than enough money to live a better life.
It’s been three years since you won the lottery, and you still have 10 million dollars left in cash and investments that provide more than enough income flowing in every month.
Here is an important question to think about!
Now that you have achieved everything you have ever wanted, would you still start a freight brokerage business?
If your answer is yes, it shows that you are passionate about owning and operating a freight brokerage business and are heading in the right direction.
However, if your answer is no, it prompts another question:
What would you prefer to do instead? Perhaps you should pursue that path instead.
In summary, you need to be passionate about the business you plan to start because it’s something you want to do!
When your only concern is the money generated, you won’t be as successful as starting a business you are passionate about.
For More, See How Passion Affects Your Business . Also, see Considerations Before You Start Your Business to identify key points for a new business owner.
Next, let’s spend some time on key issues to give you an overview of what to expect from owning and running your business.
A freight brokerage business acts as an intermediary between shippers and carriers, facilitating the transportation of goods.
It doesn’t own the trucks or cargo but connects shippers with suitable carriers to transport shipments efficiently.
Brokers negotiate rates, coordinate shipments, and ensure smooth logistics operations.
Day-to-Day Tasks in Running a Freight Brokerage Business:
Running a freight brokerage business requires multitasking, effective communication, negotiation skills, and adaptability to navigate the dynamic logistics landscape.
The role demands orchestrating shipments, building relationships, and maintaining high customer satisfaction while ensuring timely and secure movement of goods.
Freight brokerage businesses come in various setups, each with distinct business models tailored to meet different needs. Here are a few types:
Choosing the right business model from the outset is critical, as changing your model later can be complex.
Identifying a profitable and high-demand niche for your freight brokerage business is essential.
It allows you to tailor your services, target specific markets, and position yourself as an expert.
Research and market analysis are paramount in selecting a niche that aligns with your expertise and market demand.
Ultimately, your chosen business model and niche will influence
Owning and operating a business brings rewards and challenges. While benefits are appealing, overlooking potential issues is common.
It’s crucial to assess both sides to anticipate and address challenges effectively.
This preparation minimizes surprises and equips you to navigate obstacles, fostering a proactive and resilient business approach.
For more, see Pros and Cons of Starting a Small Business.
Challenges When Starting a Freight Brokerage Business:
Challenges in Full Operation:
Navigating these challenges demands resilience, strategic thinking, and continuous improvement.
Overcoming obstacles strengthens your freight brokerage business, paving the way for sustainable growth and success.
Questions to Consider for Your Freight Brokerage Business:
By addressing these questions, you’ll prepare for potential challenges in starting your freight brokerage:
Answering these pivotal questions equips you with insights to address critical aspects of your freight brokerage venture.
Inside information freight brokerage business research.
Thorough research is essential before embarking on any business venture.
Quality information offers insight into potential challenges and opportunities, preventing unexpected situations. For a freight brokerage business, seeking advice from experienced individuals is invaluable.
They provide reliable information based on their expertise and experience. Spending time with them offers priceless insights gained from years in the field.
Finding the right people to approach is crucial; an article offers guidance on approaching them respectfully.
To comprehend your potential venture, read the article “An Inside Look Into the Business You Want To Start” for comprehensive details on gaining insights from those with first-hand experience.
See An Inside Look Into the Business You Want To Start for all the details.
Understanding your target audience is crucial. Deep insights enable tailored products, services, and offers.
By catering to customers’ preferences, you maximize relevance and satisfaction.
Instead of a broad approach, you provide precisely what your audience seeks.
Target Market Ideas:
For more, see How To Understand Your Target Market.
Determining the demand for your products and services before launching is paramount.
Quality and pricing alone won’t suffice if there’s insufficient demand.
Ignoring this vital aspect can lead to business failure.
Opening a freight brokerage business without adequate demand could result in early closure and substantial debt.
Strategies to Assess Market Demand for Your Freight Brokerage Business:
By employing these strategies, you can gauge the market demand accurately and tailor your freight brokerage business to meet the specific needs of your target location.
For more, see the Demand for Your Products and Services.
Overview of Startup Costs, Expenses, Revenues, and Profits for Your Freight Brokerage Business:
Startup Costs: Accurately estimating startup costs is essential for a successful launch.
Underestimating can lead to financial hurdles while overestimating might deter potential investors. Costs depend on business size, location, equipment, and staffing.
Research and list all expenses to create a comprehensive estimate.
For more detailed information, refer to my article on Estimating Startup Costs.
Sales and Profit: Sales hinge on factors like customer service, product popularity, demand, and targeted marketing. To simplify profit understanding, consider this:
Profitability Overview: To gain a clear view, assess profit per sale, anticipated sales volume, and monthly overhead. This holistic approach ensures your revenue covers expenses, keeping your freight brokerage business sustainable.
For More, See Estimating Profitability and Revenue.
Understanding these financial aspects equips you to plan, budget, and strategize effectively, fostering a solid foundation for your freight brokerage business.
Note: Focus on the list items more than the numbers. The numbers are samples. Your estimates will differ due to how you set up your business, location, expenses, and revenues.
Note: Actual costs can vary based on location, business size, and choices.
Total Estimated Startup Costs: $11,000 – $26,000
Total Estimated Monthly Expenses: $7,900 – $16,100
These sample figures offer a starting point for your financial planning. Adjustments will be necessary based on specific circumstances, market conditions, and business growth.
Consider revisiting Step 3. Researching your freight brokerage business , where there is a technique to get inside information, will benefit you in this step.
The success or failure of a local brick-and-mortar business hinges on its location.
Inadequate demand leads to failure, while stiff competition challenges growth.
Striking a balance between demand and competition is vital. Affordability matters, too; high exposure mustn’t overshadow increased costs.
Similarly, cheaper locations must ensure sustainable sales. Thorough research is key in choosing a location that drives success.
For more about business locations, see Choosing The Best Location for Your Business.
A mission statement defines your business’s purpose, keeping you focused on the core value you offer customers and the community.
It serves as a guiding principle, aiding you in staying aligned with your intended direction.
Examples of Mission Statements for a Freight Brokerage Business:
These mission statement examples encapsulate the primary purpose and value that a freight brokerage business aims to provide to its clients and the broader community.
For more, see How To Create a Mission Statement.
A Unique Selling Proposition (USP) enables you to pinpoint and craft distinctive qualities that set your business apart.
It highlights what makes your business exceptional and gives customers a compelling reason to choose you over competitors.
Examples of Unique Selling Propositions for a Freight Brokerage Business:
These USP examples demonstrate how a freight brokerage business can differentiate itself by offering distinct benefits that cater to specific customer needs and market demands.
Choosing a Catchy and Appropriate Business Name:
Selecting a business name is pivotal; it should be fitting, easy to remember, and aligned with your industry.
Take time, as names are usually long-term. Ensure a matching domain name for your online presence and check for trademark availability.
30 Ideas for Freight Brokerage Business Names:
Here’s a list to inspire your creativity in crafting an original and appealing business name:
Use these suggestions as a starting point to craft a memorable and distinctive name that resonates with your freight brokerage business’s identity.
For more, see the following articles:
Ensuring Legal Compliance for Your Freight Brokerage Business:
Legal compliance is paramount for your business’s success. Seeking professional advice ensures proper setup for tax advantages and liability protection.
Various registrations, permits, and licenses need consideration.
Common Types of Registrations for a Freight Brokerage Business:
Permits and Licenses for a Freight Brokerage Business:
Consulting professionals, like legal advisors or industry experts, is essential to navigate the complex regulatory landscape, ensuring your freight brokerage business is legally compliant and positioned for success.
Registration:
Business Structures:
Creating a Consistent Corporate Identity:
A Corporate Identity (CI) visually defines your business. It encompasses elements like your logo, business cards, website, signage, stationery, and promotional materials.
A well-crafted CI ensures a professional and lasting impression on customers.
Key Components of Corporate Identity:
Ensuring a Lasting Professional Impression:
A cohesive CI reflects your brand values, professionalism, and dedication.
Consistency across all elements reinforces your brand identity and fosters customer trust, leaving a positive and lasting impression on new and existing clients.
You can see our page for an overview of your logo , business cards , website , and business sign , or see A Complete Introduction to Corporate Identity Packages.
Importance of a Comprehensive Business Plan:
A business plan serves as a vital tool when seeking financing or investors. It guides you through startup and operational phases, providing a roadmap for success.
Effort Required for an Effective Business Plan:
Creating a business plan demands dedication as it outlines your operational vision.
Crafting and expressing details requires time and consideration. The effort pays off by providing a clear operational vision.
Diverse Approaches to Business Plan Creation:
Options abound when crafting a business plan.
Choose from starting from scratch, hiring a professional, using templates, or employing business plan software.
Active involvement is key, especially when seeking professional assistance.
Adaptation and Optimization of Business Plans:
Business plans can evolve as you gather experience or market dynamics change.
Periodic review and adjustments are advisable to ensure alignment with operational realities and market trends, maximizing your business’s potential for success.
Business Plan Template for a Freight Brokerage Business
1. Executive Summary:
2. Company Description:
3. Market Analysis:
4. Products and Services:
5. Marketing and Sales Strategy:
6. Organization and Management:
7. Financial Projections:
8. Funding Request:
9. Milestones and Timeline:
10. Appendix:
Remember: This template serves as a starting point; tailor it to your vision and goals.
A well-crafted business plan is crucial for your freight brokerage business’s success, helping secure funding, guide operations, and achieve growth.
See How to Write a Business Plan for information on creating your business plan.
Selecting the Right Bank for Your Business:
Opt for a local bank with a small business focus, as they can provide tailored solutions for your freight brokerage business.
Benefits of a Business Account:
Separate business and personal transactions through a dedicated business account. This simplifies expense tracking, accurate reporting, and tax filing.
Building a Relationship with Your Banker:
Cultivate a professional rapport with your banker. They offer valuable advice financial services, and expedite applications, contributing to smoother operations.
Merchant Account or Online Service:
Obtain a merchant account or utilize an online payment service to accept credit and debit cards. This enhances sales and customer convenience, which is vital for your freight brokerage business’s success.
For more, see How to Open a Business Bank Account. You may also want to look at What Is a Merchant Account and How to Get One.
Securing Financing for Your Freight Brokerage Business:
When seeking funding, explore options like traditional lenders, private loans, investors, and asset sales to launch your freight brokerage business.
Meeting with a Loan Officer:
Documents Needed for a NEW Business Loan:
Preparing a comprehensive loan application with the necessary documents improves your chances of securing the funding required to kickstart your freight brokerage business.
See Getting a Small Business Loan for more.
Choosing the Right Software for Your Freight Brokerage Business:
Types of Software for Freight Brokerage Business:
Selecting the right software suite enhances efficiency and productivity across various aspects of your freight brokerage business.
Check out Google’s latest search results for software packages for a freight brokerage business.
Importance of Comprehensive Insurance Coverage for Your Freight Brokerage Business:
Ensure your freight brokerage business is adequately protected by securing the right insurance coverage before any operations commence.
Safeguard your customers, employees, premises, and assets against unexpected incidents.
Key Insurance Considerations:
Guidance from an Insurance Broker:
Consult a proficient insurance broker to navigate the intricacies of insurance coverage.
They can assess your business’s unique needs, recommend suitable policies, and ensure you have comprehensive protection.
The right insurance coverage guarantees peace of mind and financial stability, shielding your freight brokerage business from potential setbacks.
For more, see What to Know About Business Insurance . You can also browse the latest Google search results for freight brokerage business insurance .
Choosing Reliable Suppliers for Your Freight Brokerage Business:
Selecting suitable suppliers and service providers is integral to the success of your freight brokerage business.
Establishing strong relationships with them is essential for smooth operations.
Items and Services You Might Need from Suppliers:
Cultivating a positive relationship with suppliers ensures mutual benefits.
Trustworthy suppliers offer competitive prices, allowing cost savings to be passed on to customers. Consistent supply guarantees smooth business operations.
Mutual respect and fair financial arrangements strengthen working relationships, fostering long-term partnerships that contribute to the overall success of your freight brokerage business.
For More, See How To Choose a Supplier.
Establish an efficient work area with designated computer, communication, and paperwork spaces.
Ensure proper lighting and ergonomic furniture for productivity.
Display your main business sign prominently.
Add signs to parking lots, exits, and important areas for clear navigation and branding, projecting professionalism.
Office Setup:
Acknowledge the time-intensive nature of business operations.
Organize your office for enhanced efficiency and time management.
Equip it with essential tools, computers, communication devices, filing systems, and office supplies for seamless business management.
See Here are Considerations for The Setup of Your Office for tips and ideas to make your office work for you. Also, have a look at our article About Company Signs.
A website is essential for your freight brokerage business, serving as a primary point of contact and sharing crucial business information.
Unlike social media, a website gives you ownership and control, making hosting and domain registration key.
It’s a powerful marketing tool where you can share industry insights, valuable tips, and tailored content to build customer trust and establish expertise.
Blogging enhances credibility and positions you as an industry expert in customers’ eyes.
A well-crafted website strengthens your online presence, effectively attracting and engaging potential clients.
For more, see How to Build a Website for Your Business .
An external support team for your freight brokerage consists of advisors and service providers outside your payroll.
Their expertise aids projects, tasks, or retainer arrangements. Start with essential roles and expand over time.
These professionals, like accountants, lawyers, marketers, consultants, and more, enhance your business.
Building strong relationships takes time but offers valuable support when needed.
For more, see Building a Team of Professional Advisors for Your Business.
Running a freight brokerage solo initially can curb costs. Yet, as business expands, managing alone becomes challenging.
Hiring employees becomes necessary. Ensure hiring qualified, ethical individuals suited to their roles.
The following are job positions or outsourced services you may want to consider as your freight brokerage business grows:
For more, see How and When to Hire a New Employee.
A List of Equipment and Supplies to Consider for a Freight Brokerage Business:
Ensure your equipment aligns with your business’s specific needs and workflow, helping you effectively manage your freight brokerage operations.
To succeed in operating a freight brokerage business, focus on these points:
Ideas to Make Your Freight Brokerage Business Stand Out:
By implementing these add-on ideas, you can diversify your services and offer comprehensive solutions that cater to a wider range of client needs.
A freight brokerage business hinges on customers; attracting the right ones is vital for success.
Initially challenging due to novelty, building a strong reputation eases the process over time, accompanied by enhanced marketing skills.
Marketing remains an ongoing effort, directly impacting revenue.
While expert help isn’t always necessary, it’s an option when suitable.
Simplifying marketing involves creating awareness opportunistically. Methods to spread the word about your freight brokerage business include:
By employing these methods, you can spread the word about your freight brokerage business, attracting customers and ensuring steady growth.
See How To Get Customers Through the Door and our marketing section to provide ideas to help you bring awareness to your business.
1. Headline: “Simplify Shipping Solutions with Our Freight Brokerage Expertise!”
Unlock seamless shipping experiences with our freight brokerage services. Expertly manage logistics, optimize routes, and ensure on-time deliveries. Get started today!
2. Headline: “Efficiency Meets Excellence: Your Trusted Freight Brokerage Partner!”
Experience top-tier logistics solutions tailored to your business needs. From reliable carriers to real-time tracking, we’ve got your freight covered.
3. Headline: “Elevate Your Supply Chain with Our Freight Brokerage Expertise!”
Revolutionize your supply chain operations with our cutting-edge freight brokerage services. Enhance efficiency, reduce costs, and exceed customer expectations.
4. Headline: “Navigating Logistics Made Easy: Choose Our Freight Brokerage Services!”
Streamline your shipping processes effortlessly. Our freight brokerage expertise ensures hassle-free deliveries, exceptional customer service, and unbeatable rates.
5. Headline: “Unlock Growth Opportunities: Partner with Our Freight Brokerage!”
Maximize your business potential by collaborating with our freight brokerage. Seamlessly manage shipments, expand your reach, and optimize operations for success.
When seeking business partnerships to refer clients, consider industries closely aligned with freight brokerage. Potential partners include:
When forming partnerships, tailor benefits to each partner’s goals.
Referral fees, reciprocal referrals, joint marketing efforts, or access to each other’s client base can all be effective incentives, promoting mutual growth and success.
Importance of Evaluating Skill Set for Freight Brokerage Business:
Before launching a freight brokerage business, assessing your skill set is paramount. Your abilities directly impact business success, operational efficiency, and client satisfaction.
A thorough self-evaluation helps determine whether you possess the essential skills to run the business effectively.
If certain skills are lacking, there are two viable options to address this gap:
Essential Skills for a Freight Brokerage Business Owner:
Running a successful freight brokerage business demands a multifaceted skill set. Some key skills include:
In conclusion, evaluating your skill set and addressing gaps is pivotal for the success of your freight brokerage business.
Whether through skill acquisition or delegation, having the right skills ensures effective business operations and growth.
Utilize knowledge as a powerful tool. Abundant industry information is available.
Links provide valuable startup and operational insights for your business journey.
Studying industry trends and statistics enhances strategic planning, guides decision-making, and ensures a competitive edge in freight brokerage.
See the latest search results for trends and statistics related to the freight brokerage industry.
Trade associations provide benefits such as industry updates and networking chances for staying informed in the freight brokerage sector.
See the search results related to freight brokerage associations and the benefits of Joining the Chamber of Commerce.
Examining established freight brokerage businesses sparks innovation, reveals market gaps for competitive edges, and uncovers overlooked opportunities to differentiate and succeed.
See the latest search results for the top freight brokerage firms.
Researching the industry’s future aids prospective freight brokerage entrepreneurs in making informed decisions, identifying trends, and adapting strategies for long-term success.
See the search results for the future of the freight brokerage industry.
Researching pricing for starting a freight brokerage business ensures competitive rates, profitability, and informed decision-making.
See the latest freight brokerage prices.
Acquiring an existing freight brokerage business has pros and cons.
Benefits include immediate revenue, startup phase skipping, proven success, known financials, established customer base, and reputation.
Drawbacks encompass higher costs due to goodwill, potential customer loss if changing operations, and inheriting positive and negative reputation aspects.
Exploring available options in the same industry, even if not an exact match, can be done using the provided link.
The latest search results for a freight brokerage business for sale and others in the same category.
Considering a freight brokerage franchise involves pros and cons worth exploring.
Benefits include a proven model, established reputation, full business insight, and corporate support.
Drawbacks encompass high costs, limited autonomy for changes, approved product limitations, operational restrictions, and ongoing fees.
Exploring such opportunities might uncover unconsidered aspects.
Similar industry franchises can be found using the provided link if an exact match isn’t available.
See the latest search results for franchise opportunities related to this industry.
Analyze search results on customer expectations to grasp perspectives and surpass them in freight brokerage.
Identify unaddressed issues for comprehensive service and opportunities for improvement.
See the search results related to customer expectations for freight brokerage.
Expert tips enhance skills for both novices and experienced individuals. Experts gain new perspectives. Novices access valuable information to improve skills and knowledge.
See the latest search results for freight brokerage to gain tips and insights.
Examining tips and insights yields ideas, helps prevent pitfalls, and boosts industry knowledge for effective freight brokerage business management.
See the latest search results about insights into running a freight brokerage business.
Publications offer vital updates and insights for staying current in the realm of freight brokerage.
See the search results for freight brokerage publications.
Engage in freight brokerage forums to foster connections and dialogue. Gain insights into customer viewpoints for improved understanding and customer relations.
See the latest search results related to freight brokerage forums.
Enhance freight brokerage skills through online or local courses. Learning improves expertise and benefits your business.
See the latest courses that could benefit a freight brokerage business owner . Also, see our management articles for tips and insights for managing your business.
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If you want to start a Freight Brokerage business or expand your current Freight Brokerage business, you need a business plan.
The following Freight Brokerage business plan template gives you the key elements to include in a winning Freight Brokerage business plan.
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
Below are links to each of the key sections of an example Freight Broker business plan. Once you create your plan, download it to PDF to show banks and investors.
Freight Brokerage Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
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Published Sep.25, 2013
Updated Apr.23, 2024
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Do you want to learn how to start a freight broker company? If so, you’re in the right place. This business plan for freight broker will teach everything from how to start a freight brokerage to all the management operations needed. The best thing about freight broker business is that you don’t need a ton of experience to get started. All you need are some street smarts and a good business plan.
In this document, we will be explaining how to develop a good business plan that can guide your company. You can also follow the business plan of a related business like business plan for real estate or an import/export business plan for more examples. Here, we will provide the business plan of Carry On, a Freight Brokerage Startup operating in Newark, New Jersey.
2.1 the business.
Carry On will be a freight broker startup started by Harry Doofenshmirtz. The startup will aim to provide freight brokerage services to various producers and distributors around Newark, New Jersey. The business will ensure that the shipment from shippers is adequately handled and delivered by the Cargo company.
To make sure that every aspect of the freight broker startup is managed properly, efficient planning needs to be done. And what better way to learn how to start your own freight brokerage business than through a business plan. A business plan will answer your question about “what do you need to start a freight brokerage”?
Since this is a business plan for a startup, it will also tell you how to become a freight broker from home. You can use this as a guide to make business plans for investment . That way, you can put a planned-out persona in front of your investors.
Apart from this plan, you can also refer to a related business plan like a non-emergency medical transportation business plan as it has similar services to the business at hand.
The customers of Carry On will belong to all industry domains including clothing, sports goods, and furniture, etc. However, our most prominent customers will include:
Our target is to become a reliable and trusted freight brokerage in town connecting suppliers to carriers when they most need it.
Our financial targets to meet for the five years of launch are demonstrated below:
3.1 company owner.
Harry Doofenshmirtz will be the owner of Carry On. He attained a business diploma from a local college and then worked up his way in a distribution warehouse. However, he wanted to start his own business. So, after much thought, he left his post and started Carry On.
Through his job, Harry noticed that most of the good companies around him suffered because of a lack of good carriers. It seemed that even though there were carrier companies available, it was much too time consuming for a company to compare their merits. So, Harry decided to bridge this communication and time gap between the two domains by starting a freight broker business of his own.
Step1: Plan Everything
One of the first steps when learning how to start a freight broker business is to plan out everything. Every aspect of the business should be planned in some detail beforehand to avoid any big surprises. For planning your business, you can use this freight broker business plan sample for Carry On. You can also use a Muskoka airport business plan for guidance as it has the same structure. In this freight broker business plan pdf, the entire start up of Carry On will be planned out.
Step2: Define the Brand
The next step after planning the operations is to advertise the business so that it attracts customers. At this time, you should develop a brand image for your company and highlight its human aspirations and values to attract more people.
Step3: Establish Your Corporate Office
To start of the business, Harry rented out an office space in the marketing sector of town. He will now work to hire employees and make contacts with shippers and carriers.
Step4: Establish a Web Presence
Internet presence is an important part of any business today to get more reach to customers.
For this purpose, Harry decided he will get a one-page website developed through which customers will be able to contact the business. He also decided to establish social media presence for his business.
Step5: Promote and Market
The last step is to develop a thorough marketing plan for your company and then stick to it for advertising your business.
Legal | $122,800 |
Consultants | $0 |
Insurance | $23,000 |
Rent | $32,280 |
Research and Development | $10,000 |
Expensed Equipment | $57,800 |
Signs | $3,400 |
Start-up Assets | $222,800 |
Cash Required | $209,000 |
Start-up Inventory | $39,000 |
Other Current Assets | $278,000 |
Long-term Assets | $282,800 |
Start-up Expenses to Fund | $249,280 |
Start-up Assets to Fund | $1,031,600 |
Assets | |
Non-cash Assets from Start-up | $1,293,400 |
Cash Requirements from Start-up | $122,800 |
Additional Cash Raised | $50,000 |
Cash Balance on Starting Date | $35,000 |
Liabilities and Capital | |
Liabilities | $18,000 |
Current Borrowing | $0 |
Long-term Liabilities | $0 |
Accounts Payable (Outstanding Bills) | $52,200 |
Other Current Liabilities (interest-free) | $0 |
Capital | |
Planned Investment | $1,280,880 |
Investor 1 | $0 |
Investor 2 | $0 |
Other | $0 |
Additional Investment Requirement | $0 |
Loss at Start-up (Start-up Expenses) | $150,120 |
Before you start your freight broker business startup, you need to know some details. There are requirements to become a freight broker and one of these requirements happens to be deciding services. For getting a freight broker license, you will need to know several details of your business. That way you can plan everything effectively.
Here, we are providing the service details of freight brokerage business plan. You can also look at something similar like a travel agency business plan for guidance. In this free freight broker business plan, the services offered by Carry On will be:
One of the main jobs of Carry On as a freight brokerage will be to connect carriers with the supplier customers they need and vice versa.
Carry Out will evaluate all the carriers available for the job required by the shipper to make sure that each shipper is matched with the best carrier. The company will cater to the location and type of goods to be transported by the shipper to make sure that only the best partnership is achieved between the two parties.
One of the services of Carry On that make it so convenient is that the company will be responsible to track the shipment from the Shippers. And shippers can just relax and focus on other work. The company will track the cargo regularly to ensure that everything is safe.
Carry On will also ensure compliance of the carriers to the requirements by shippers. Some shipments include things that might be vulnerable to damage or need certain conditions for transport. Carry On will make sure that the carriers fulfill all the requirements.
In addition to carrier evaluations, our company will also cater to the price range of its clients. Multiple options will be considered, and prices will be negotiated with both shipper and carrier parties to achieve at a middle ground that is good for both.
Before you start a freight brokerage business, you need to know your customers and competitors in-depth. In short, getting well versed about the target market is one of the steps to become a freight broker. For this purpose, you can conduct a marketing analysis as a part of your freight broker business plan. Your marketing analysis should analyze market trends with your financial goals to figure out pricing of your services. This analysis will help you learn how to be a successful freight broker.
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If you don’t know how to conduct a marketing analysis and you want to know “how can I become a freight broker?”, you can use this business plan. This document will tell you ways to start your own freight brokerage business pdf. It will outline all the components of a broker business model and help you do a target market analysis for your business.
Here, we are providing the marketing analysis for Carry On. You can use this template to learn how to become a freight broker agent .
According to Verifired Market Research, Freight Brokerage industry is valued at around $1.164 Billion in the US. The industry is expected to grow at a rate of 36% and reach around $14 Billion by 2028. There is an increase in the need for convenience in intermediate operations that is driving the growth of the industry. And it is expected to do so in the coming years as well making any investment in the industry an excellent choice.
The potential customers of Carry On are divided into the following groups:
5.2.1 carriers.
Carriers will be cargo companies that will be responsible for the delivery of goods. Our company will also be providing them business by acting as an intermediate party. So, these will be our most consistent and reliable customers. And they will primarily utilize our connection services.
Our secondary customers will be the producer companies that produce raw materials or products and need them to be taken to their clients. They are expected to utilize our services most often.
Our third target customers will be Distributors who buy materials and products in bulk and then send them to various warehouses and shops for selling. There are quite a considerable number of distributor companies around Newark in need of freight brokers, so we expect to receive these customers regularly.
This will be our fourth target group of customers. There are a few manufacturing industries set up around Newark. Therefore, we expect to receive business from them quite often.
Lastly, we will cater to the import/export businesses in and around town. The trend of selling imported goods has increased, especially in the fashion industry. So, we expect a fair amount of business from the local import/export businesses.
Carriers | 27% | 27,800 | 33,360 | 40,032 | 48,038 | 57,646 | 10.00% |
Producers/ Manufacturers | 26% | 22,700 | 27,240 | 32,688 | 39,226 | 47,071 | 10.00% |
Distributors | 24% | 24,360 | 29,232 | 35,078 | 42,094 | 50,513 | 10.00% |
Import/ Export Businesses | 23% | 21,100 | 25,320 | 30,384 | 36,461 | 43,753 | 11.00% |
10% |
Our prices will be a little higher than if the shippers were to hire carriers on their own. But for this price, we will offer our clients a stress-free management of their goods and delivery operations.
To make sure that you are recognizable amongst your competition, you will need to come up with several competitive aspects for your freight brokerage startup . For this, you need to focus on developing a marketing strategy. This can include anything from advertisements to freight broker business cards.
For a good marketing of your business, you will need to analyze many things such as freight broker software cost and costs of different ways of advertisement.
In this freight brokerage business plan pdf, we are detailing the marketing strategies of Carry On. However, you can take help from marketing strategies of other businesses as well. For instance, from a subscription box business plan .
Unit Sales | |||
Networking | 250 | 265 | 281 |
Carrier Evaluations | 225 | 239 | 253 |
Shipment Monitoring | 250 | 265 | 281 |
Compliance & Negotiations | 200 | 212 | 225 |
Unit Prices | Year 1 | Year 2 | Year 3 |
Networking | $850.00 | $986.00 | $1,143.76 |
Carrier Evaluations | $950.00 | $1,102.00 | $1,278.32 |
Shipment Monitoring | $1,200.00 | $1,392.00 | $1,614.72 |
Compliance & Negotiations | $800.00 | $928.00 | $1,076.48 |
Sales | |||
Direct Unit Costs | Year 1 | Year 2 | Year 3 |
Networking | $250.00 | $275.00 | $288.75 |
Carrier Evaluations | $200.00 | $220.00 | $231.00 |
Shipment Monitoring | $300.00 | $330.00 | $346.50 |
Compliance & Negotiations | $250.00 | $275.00 | $288.75 |
Direct Cost of Sales | |||
The business of a freight broker franchise depends a lot on its customer service and relations. Therefore, Harry put together a list of all the employees that will be necessary for the success of business. Additionally, he also included specific criteria in the freight broker business plan to hire workers.
Co Manager | $45,000 | $49,500 | $54,450 |
Supply Chain Executives | $75,000 | $82,500 | $90,750 |
Broker Assistants | $55,000 | $60,500 | $66,550 |
Web Developer | $28,000 | $30,800 | $33,880 |
Sales Executive | $35,500 | $39,050 | $42,955 |
Accountant | $25,000 | $27,500 | $30,250 |
Drivers | $40,000 | $44,000 | $48,400 |
Receptionist | $22,000 | $24,200 | $26,620 |
To ensure the success of your business, you need to control freight broker startup costs. It is essential to manage everything efficiently so that your business doesn’t go into a loss. A good financial plan will keep your company from becoming a freight brokerage business for sale.
In your financial plan, you need to detail all the costs necessary to run your business as well as the ways you will earn revenue. In this business plan, we are detailing the financial plan of Carry On. But you can take help from other business plans as well such as hot shot trucking service business plan .
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 8.12% | 8.20% | 8.26% |
Long-term Interest Rate | 8.40% | 8.44% | 8.47% |
Tax Rate | 24.03% | 24.21% | 24.60% |
Other | 0 | 0 | 0 |
Monthly Units Break-even | 5340 |
Monthly Revenue Break-even | $132,500 |
Assumptions: | |
Average Per-Unit Revenue | $231.00 |
Average Per-Unit Variable Cost | $0.62 |
Estimated Monthly Fixed Cost | $163,800 |
Other | $0 | $0 | $0 |
TOTAL COST OF SALES | |||
Expenses | |||
Payroll | $303,500 | $333,850 | $367,235 |
Sales and Marketing and Other Expenses | $145,000 | $148,000 | $156,000 |
Depreciation | $2,300 | $2,350 | $2,500 |
Leased Equipment | $0 | $0 | $0 |
Utilities | $2,900 | $3,000 | $3,100 |
Insurance | $2,100 | $2,100 | $2,100 |
Rent | $2,900 | $3,000 | $3,200 |
Payroll Taxes | $24,000 | $25,000 | $27,000 |
Other | $0 | $0 | $0 |
Profit Before Interest and Taxes | $171,050 | $301,338 | $477,072 |
EBITDA | $171,050 | $301,338 | $477,072 |
Interest Expense | $0 | $0 | $0 |
Taxes Incurred | $34,210 | $60,268 | $95,414 |
Net Profit | $136,840 | $241,070 | $381,658 |
Net Profit/Sales | 15.44% | 22.12% | 28.48% |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $51,000 | $55,080 | $59,486 |
Cash from Receivables | $22,000 | $23,760 | $25,661 |
SUBTOTAL CASH FROM OPERATIONS | |||
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
SUBTOTAL CASH RECEIVED | |||
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $42,000 | $42,000 | $45,000 |
Bill Payments | $27,000 | $28,000 | $31,000 |
SUBTOTAL SPENT ON OPERATIONS | |||
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
SUBTOTAL CASH SPENT | |||
Net Cash Flow | $21,000 | $23,000 | $25,000 |
Cash Balance | $27,000 | $30,000 | $33,000 |
Assets | |||
Current Assets | |||
Cash | $275,000 | $308,000 | $338,800 |
Accounts Receivable | $24,000 | $26,880 | $30,213 |
Inventory | $4,300 | $4,816 | $4,900 |
Other Current Assets | $1,000 | $1,000 | $1,000 |
TOTAL CURRENT ASSETS | |||
Long-term Assets | |||
Long-term Assets | $10,000 | $10,000 | $10,000 |
Accumulated Depreciation | $19,400 | $21,728 | $24,444 |
TOTAL LONG-TERM ASSETS | |||
TOTAL ASSETS | |||
Liabilities and Capital | Year 4 | Year 5 | Year 6 |
Current Liabilities | |||
Accounts Payable | $18,700 | $20,944 | $23,541 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
SUBTOTAL CURRENT LIABILITIES | |||
Long-term Liabilities | $0 | $0 | $0 |
TOTAL LIABILITIES | |||
Paid-in Capital | $30,000 | $30,000 | $31,000 |
Retained Earnings | $53,000 | $57,770 | $63,547 |
Earnings | $193,400 | $210,806 | $231,887 |
TOTAL CAPITAL | |||
TOTAL LIABILITIES AND CAPITAL | |||
Net Worth | $293,400 | $319,806 | $351,787 |
Sales Growth | 7.25% | 8.03% | 8.90% | 3.00% |
Percent of Total Assets | ||||
Accounts Receivable | 9.21% | 10.20% | 11.31% | 9.80% |
Inventory | 5.39% | 5.97% | 6.62% | 9.90% |
Other Current Assets | 2.11% | 2.34% | 2.59% | 2.40% |
Total Current Assets | 149.80% | 151.00% | 152.00% | 158.00% |
Long-term Assets | 11.55% | 11.60% | 11.64% | 12.00% |
TOTAL ASSETS | ||||
Current Liabilities | 4.90% | 4.94% | 4.98% | 4.34% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 0.00% |
Total Liabilities | 7.59% | 7.65% | 7.72% | 7.38% |
NET WORTH | ||||
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 94.60% | 97.15% | 99.87% | 99.00% |
Selling, General & Administrative Expenses | 93.56% | 96.09% | 98.78% | 97.80% |
Advertising Expenses | 1.52% | 1.56% | 1.60% | 1.40% |
Profit Before Interest and Taxes | 41.50% | 42.62% | 43.81% | 33.90% |
Main Ratios | ||||
Current | 34 | 35 | 36 | 32 |
Quick | 33 | 33.8 | 34.645 | 33 |
Total Debt to Total Assets | 0.18% | 0.18% | 0.17% | 0.40% |
Pre-tax Return on Net Worth | 74.08% | 74.89% | 75.00% | 75.00% |
Pre-tax Return on Assets | 96.30% | 101.12% | 106.17% | 111.30% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 33.56% | 34.60% | 35.67% | N.A. |
Return on Equity | 55.80% | 57.53% | 59.31% | N.A. |
Activity Ratios | ||||
Accounts Receivable Turnover | 7.7 | 7.8 | 7.8 | N.A. |
Collection Days | 100 | 100 | 100 | N.A. |
Inventory Turnover | 32.4 | 34.02 | 35 | N.A. |
Accounts Payable Turnover | 15.6 | 16 | 16.3 | N.A. |
Payment Days | 27 | 27 | 27 | N.A. |
Total Asset Turnover | 2.5 | 2.5 | 2.6 | N.A. |
Debt Ratios | ||||
Debt to Net Worth | -0.04 | -0.03 | -0.04 | N.A. |
Current Liab. to Liab. | 1 | 1 | 1 | N.A. |
Liquidity Ratios | ||||
Net Working Capital | $244,000 | $257,664 | $272,093 | N.A. |
Interest Coverage | 0 | 0 | 0 | N.A. |
Additional Ratios | ||||
Assets to Sales | 0.85 | 0.87 | 0.89 | N.A. |
Current Debt/Total Assets | 1% | 0% | 0% | N.A. |
Acid Test | 29 | 29.12 | 29.16 | N.A. |
Sales/Net Worth | 2.1 | 2.2 | 2.2 | N.A. |
Dividend Payout | 0 | 0 | 0 | N.A. |
1. How do I write a freight brokerage business plan?
You can develop a business plan for your freight brokerage by following this freight broker business plan sample.
2. How much do freight brokerage owners make?
The income of a freight broker depends on a lot of things including freight broker startup costs, freight broker process, and prices of services.
3. Are freight brokerages profitable?
Starting a freight brokerage company can prove profitable if it is managed efficiently and smartly.
4. How much does a freight broker make a year?
If you are learning how to be a freight broker agent, you might be wondering how much they make in a year. Though the accurate number depends on the success of the business, on average, freight brokers make around $60,000 in a year.
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Digital freight company Transfix is selling its road freight brokerage business , as part of a pivot to focus primarily on transportation software.
Transfix will be selling to third-party logistics provider NFI Industries, according to The Wall Street Journal. The sale will include the addition of 15,000 carriers for NFI, while Transfix says it will keep just over 100 of its roughly 350 employees on board for its existing operations.
This marks the latest domino to fall for the previously ascendant digital freight startup industry. In January of 2023, Uber Freight laid off 150 employees . Then in October of that same year, supply chain software startup Flexport laid off 20% of its own workforce . A week later, Jeff Bezos-backed digital freight broker Convoy announced that it would be shutting down over what the company called a "massive freight recession," CNBC reported at the time.
Transfix had considered a public listing in 2022, before canceling those plans and opting to remain private.
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Arcona Ltd. is Russia's leading Mobile App development and Web development company. We provide a full suite of Product development, Marketing & Technology innovation services. Our web developers build front-end, back-end and APIs as per the solution to be created or can engage on dedicated bases to augment ... read more about Arcona Ltd.
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Life insurance is as complicated as the policyholders and beneficiaries who use it. That means there's no single "best" life insurance company. Instead, you can find the best option based on what you want or what you prioritize.
While there is no such thing as the objective best life insurance policy, you will be able to find the best insurance policy for your specific needs. Here are our picks for the best life insurance companies, whether you want to use your life insurance policy to build wealth through cash value or you're just looking for a term life insurance policy .
Bundling is standard, and agents often quote with multiple discounts.
State Farm is one of the insurance industry's most prominent insurers offering auto, home, and other insurance. Bundling is standard, and agents often quote with multiple discounts. Its term, universal, and whole life insurance products are no exception.
State Farm Life Insurance gets the best life insurance ranking in J.D Power's Individual Life Insurance Study, with a score of 843/1,000. The company is also ranked A++ with AM Best for its financial stability with term, universal, and whole life insurance options.
All State Farm policies have to be purchased through a State Farm agent. Your agent can help you bundle and save or buy one policy. State Farm is also among the companies offering "survivorship universal life insurance ," which means the policy covers two people, and it kicks in after the second person dies. Couples looking to maximize their death benefit for beneficiaries with one premium payment each month may enjoy lower overall costs.
State Farm agents can run quotes and compare options to find the right plans for each applicant. The range of options, discounts, and familiar name all contribute to the popularity of State Farm's life insurance.
Read our State Farm Life Insurance review here.
Offers aggressive financial plans.
The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.
Prudential Life Insurance is available in all states except New York. New York residents can buy the Pruco Life of New Jersey VUL Protector plan. This plan allows buyers to pull money out of their plan to pay for nursing home expenses. Cash value policy premiums are fixed, so you won't have to worry about extra costs later on. Internal costs are low, which minimizes risk. Due to age, many older adults want a safe investment option for their money. Prudential VUL Protector invests to avoid loss. That also means you're not as likely to see big increases in your available funds outside of what you deposit.
Read our Prudential Life Insurance review here.
Offers lien method to makes it easier to calculate the financial impact of pulling money out early.
Best for long-term care and accelerated death benefits.
Columbus Life offers a wide range of riders to customize your policy with affordable premiums. The company also allows you to convert term policies to whole life insurance policies until the end of your term (generally around age 70). For this and many other reasons, customer satisfaction is high.
When using living health benefits (otherwise known as accelerated death benefits), buyers are allowed to pull money from policies early to pay for medical bills, living costs, etc. under certain circumstances. Most companies use a discounted death benefit, which reduces your final payout using two models. Columbus uses the lien method, which makes it easier to calculate the financial impact of pulling money out early.
Offers life insurance policies for foreign nationals with H-1B visas.
Best for investing and high returns on income.
Allianz Life plans are geared towards high-income adults looking for more tax-free income. Allianz offers a 40% multiplier bonus with a 1% annual assets charge. In short, the professionals managing your investments take 10%. Overall, your investments would pull in an extra 14%-1% asset charge. This means you end up with 3% more than what you deposit every year your life policy is active. This plan offers strong returns when using a life policy to supplement your retirement savings. Allianz also offers specialized plans to grow your income by as much as 20% according to some estimates.
Of note: Allianz also offers plans for foreign nationals, including those with H-1B visas.
Offers aggressive financial products and extensively trained agents.
If you're preparing for a comfortable retirement or looking to build generational wealth, New York Life is one of the strongest options. If you have questions or genuinely want to understand your life insurance options, New York Life agents are among the most qualified professionals in the business.
New York Life Insurance agents go through extensive training before they ever hit the sales floor. What does this get you? Policies vary widely, and New York Life offers both large and small payouts. Some policies have significant penalties for early withdrawal, but taking a loan offers more options. Whatever your questions, New York Life agents are trained to offer comprehensive support giving you accurate information about its policies every time. The company comes in at position eight in J.D. Power's latest life insurance customer satisfaction study.
Read our New York Life Insurance review here.
Offers term policies alongside accelerated death benefits for critical, chronic, and terminal illnesses and more.
Best Term Policy.
North American Company offers term policies alongside accelerated death benefits for critical, chronic, and terminal illnesses and more. The company allows one conversion on a 20-year policy at 15 years or 70 years old (whichever is earlier). The conversion cannot happen later than the five-year marker regardless of which policy you choose or the length. North American Company also offers a term policy with a lower premium renewable up to the age of 95 for qualifying insureds.
While there's many different types of life insurance policies , broadly speaking, there are two types of life insurance: temporary and permanent. Let's go over each in detail.
Temporary life insurance is often called term life insurance. This type of policy covers you for a set amount of time before expiring, usually between 10-30 years. If you pass away after your policy expires, your family won't receive any benefits. Additionally, your policy won't accrue cash value like a permanent policy. That said, some term life insurance policies offer a conversion from term to whole life insurance, so you can extend your coverage.
Because its benefits aren't guaranteed, term life policies are generally cheaper than permanent life insurance. That said, the vast majority of term life insurance policies never pay out. on
Permanent life insurance is an umbrella term for a variety of life insurance policies that will insure you indefinitely and guarantee a payout as long as you maintain your policy. Policy types that fall under permanent life insurance includes:
These policies vary widely in purpose and intended buyers, but all guarantee death benefits to your loved ones. Some permanent life insurance policies, like whole, universal, and variable have a cash value component , which you can use as a savings tool or to leave your heirs a larger death benefit.
Finding the right fit in life insurance starts with finding a trusted insurance agent. Because there are so many state regulations, shopping for homeowners or auto insurance can be easily done online. Life insurance is not required. So it's a voluntary purchase. Many buyers don't know what they need or when they need it. Before making your selection, consider a few things:
Some companies will sell you a policy for your child as soon as they're born. While this may seem morbid, early sign-up means lower rates for a policy your child could enjoy in the future. Regardless, early sign-up equates to more policy for lower premiums and a higher likelihood of acceptance. At 20, you may be healthier and be able to pay into the policy for a longer period compared to when you're 50 with more age-related conditions.
As a general rule, never agree to more than you can afford. For the average life insurance agent, their job is to sell you a large policy with a large commission. Consider not only how much you make now, but how likely your current income is to continue. If you work on a project basis and your project is scheduled to end in 12 months, you may want to reconsider a policy premium outside your monthly savings.
How much are you prepared to buy? Some people only want a small policy to cover funerals and other end-of-life expenses. Others build a life policy into their retirement plan. Whatever direction you're going, involving a financial planner could help you make the right decisions. Depending on the carrier, customers can also compare set limits with index universal life policies, which set no limit. These policies never expire, and the value builds over the entirety of your life.
Living Benefits
Life happens unexpectedly. You could be healthy one day and in the hospital the next. Many life policies offer living benefits. These allow you to draw a limited amount out of your policy to cover medical and other bills you cannot pay while sick.
Much like a 401(k), many life insurance policies have penalties for early withdrawal. No matter what policy you want, this question is critical to an informed decision. It's a question of how early you can withdraw and how much you'll lose from the total to have the money in 10 years instead of 30 or after death.
Some policies require insured parties to pay premiums for at least one year before any significant payout would be available. Suicide exclusions are common. Even with no medical exam policies, the company may still do a check for known conditions. An insurance company has to mitigate its risk.
Flexibility
Once you've been denied a life insurance policy, a mark goes on your record. No matter the reasons, other insurance companies may deny you coverage based on the first denial. So consider your whole situation and choose your policy carefully before you submit any applications. Some policies have greater flexibility if you lose your job or otherwise can't make payments. Others will lapse if you miss even one payment.
Payment Type
Even within whole life or term life insurance policies, customers have the option to choose guaranteed fixed or variable rates. Some have guaranteed payouts, but you'll need to ask your agent for details.
What is your intended use? Why are you shopping for a life insurance policy in the first place, and what are your goals? Many successful financial planners also have a background in life insurance. So while they may not be able to find you a specific life insurance policy, financial planners can help you set out a blueprint for your purchase.
In life insurance, it's easy to get "sold a bill of goods." Many life insurance agents pass a state test to be thrown into the deep end. Agents sell the company product, but not all know the products. In this vein, we look at the products each company offers. We also look at agent training.
A good life insurance agent may not volunteer all facts upfront. But a company's agents should answer questions about its products accurately and in a way the average consumer can digest. Agents should be able to inform you about the long-term benefits and limitations. This will help customers find the right policy for their long-term plan.
We consider affordability, policy sizes available, and performance for a comprehensive assessment in our insurance rating methodology . If you can, we recommend also working with a financial advisor to make a plan for your future with life insurance.
To inform our choices for the best life insurance companies, we spoke with the following experts:
How much life insurance coverage do you believe the average buyer should have.
Paul LaPiana, Head of Product at MassMutual
"There are different approaches to determining how much life insurance you need. One is the 'human life' approach, which estimates the current value of your future earning potential. Another is securing specific coverage to pay off debts such as a mortgage or provide for the education of children. A comprehensive protection plan should provide the right amount of coverage over the course of your working life and into retirement."
Barbara A. Pietrangelo, Chair of Life Happens
"There is no one-size-fits-all life insurance policy because everyone is different. One way to get a rough estimate is to multiply your income by 10 to 15; another is adding $100,00 to that amount, should you have a child and anticipate college education expenses.
Your best bet is to talk to a financial professional or use the Life Insurance Needs Calculator on LifeHappens.org to analyze what's right for you."
Wykeeta Peel, Corporate Vice President & Market Manager African American Market Unit at New York Life
"As you consider what policy best meets your needs, it can help to answer four key questions: First, how much death benefit do you need? Second, how long will you need that coverage? Third, what is your budget (or how much monthly premium can you afford to pay?), and finally, what is your investment risk tolerance?
To determine how much death benefit makes sense, it's helpful to think beyond using life insurance to cover funeral expenses and consider whether anyone is relying on the policy owner's income to maintain a lifestyle, pay rent or a mortgage, or fund a child's education and for how long.
There are various rules of thumb regarding the right amount of Life insurance coverage. Some tips can be found online, but they only provide an estimate and don't necessarily factor in an individual's specific needs. In my opinion, human guidance, powered by technology, is required. Basically, it comes down to how much money your loved ones would need to remain on firm financial ground if your earnings were no longer in the picture and that is different for everyone."
"Increased accessibility through digital and other channels as well as through underwriting enhancements. Increased tailoring of products and features. And an increased emphasis on health and wellness programs."
"Having enough qualified insurance professionals to walk potential buyers through the multiple benefits of life insurance will be pivotal to the growth of the industry. Education is a key factor here, as professional agents also need to be able to explain life insurance and its benefits in an easy, digestible way, especially when there are so many misconceptions about life insurance."
"The need for life insurance is greater than ever. In fact, a recent New York Life Wealth Watch survey found that 37% of adults have been thinking about life insurance more often these days – and half of adults report that financial products that provide protection (50%) and reliability (50%) are more important now compared to last year. This may be especially true for middle-market and Cultural Market families.
Our organizational structure of having Cultural Market agents embedded in the communities where we live and work allows us to understand the needs of diverse communities and develop solutions that resonate with them."
"It is difficult to say with any certainty how healthy you will be years from now. That's why securing life insurance, and insuring your insurability, today, when you are the youngest you'll ever be again, and perhaps your healthiest is a wise decision."
"Do you love someone? If the answer is yes, then life insurance is certainly something you should consider. Many buy gifts and experiences to express their love, but haven't considered that life insurance is just another way to say I love you. Nothing says support like ensuring your family's financial security and peace of mind."
"If you have someone depending on your income, you should consider purchasing life insurance. A death benefit from a life insurance policy can replace income from the loss of a breadwinner, ensure a family can stay in their home, fund educational or retirement expenses, address debt and so much more.
A life insurance policy can also help you grow your family's wealth over time. Once the risk of an unexpected loss has been managed, you can begin to think more broadly about your family's financial future. Life insurance can enable your mindset to shift from death to growth."
"With life insurance, you are securing a future commitment that may be decades away. Research the company behind the policy to ensure it has high financial strength ratings, longevity, and an excellent track record of paying claims."
"When looking for an insurance agent or company, be sure to do your research. When comparing companies, be sure to remember that the policy features that fit you and your loved ones best is the most important factor. Don't automatically assume you should buy from the higher-rated company.
If the policy from the other company has more of what you're looking for, it might be the better choice. If you're unsure where to start, try the Life Happens Agent Locator to find an insurance professional in your area."
According to JD Power's 2023 life insurance study, State Farm is the highest-rated life insurance company when it comes to overall customer satisfaction. However, you still may want to shop around for quotes from various insurers if you're looking to purchase a new policy.
There isn't one best life insurance company, because the best option for you will depend on the type of policy you're looking for. It's best to work with a qualified insurance agent to help you find the best coverage. If you're deciding between multiple similar options, it's also worth consulting J.D. Power's life insurance customer satisfaction study . The latest study ranks State Farm as the top pick for individual life insurance, outpacing Nationwide by three points.
The best type of life insurance policy for you will differ from someone else's, as your policy should be tailored to your needs. The best policy for you will be affordable and will offer the benefits best suited to your situation. For example, some policies are only meant to cover end-of-life expenses such as burial and funeral arrangements, whereas others include living benefits like a cash value insurance plan , which you can borrow against during your lifetime.
Some life insurance policies are advertised as "no medical exam." This doesn't mean the insurer won't ask you about known conditions or look at medical records. Policies with no medical exam also tend to offer lower benefits with higher premiums. Most companies have a network of medical examiners, some of whom can come to your home. You can find our guide on the best no exam life insurance here.
Each situation is different and requires a knowledgeable life insurance agent to assess your best options. Bring all your questions and the coverage you're looking for to an insurance agent near you to explore your options.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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Silicon Freight Brokers (SFB) is a specialized freight broker service located in Hood River, OR. The company has been set up as an Oregon C Corporation by the owner, Steve Tookarefol. SFB's objective is to become the premier silicon chip freight broker, increasing their client base by 20% a year. Freight Brokers and Silicon Chips.
Freight Broker Business Plan. Over the past 20+ years, we have helped over 9,000 entrepreneurs and business owners create business plans to start and grow their freight broker businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a freight broker ...
Freight Solutions Inc. is seeking $250,000 in debt financing to launch the brokerage company. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, working capital and marketing costs for the business. The breakout of the funding is below: Office space build-out: $20,000.
Truckstop also fully integrates with most of the major software solutions in the industry. With the Truckstop Load Board for brokers, you can make the connections you need to succeed with your new freight brokerage company. Topics: brokers business plan. Like any successful business, a freight brokerage needs a business plan.
Industry Overview. The freight brokerage market in the US stood at a value of 1.164 billion US dollars in 2020 and is expected to grow at a staggering rate due to the rapid switch people are making towards online shopping. Also, due to the pandemic and various safety measures many people have adopted a new way of shopping, and that has ...
Financial Summary. Detroit Freight Brokerage is seeking total funding of $260,000 of debt capital to launch. The capital will be used for funding capital expenditures and location build-out, hiring initial employees, marketing expenses, and working capital. Specifically, these funds will be used as follows:
The executive summary of a freight brokerage business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan. Start with a one-line description of your freight brokerage company. Provide a short summary of the key points in each ...
A freight brokerage business plan serves as a roadmap for entrepreneurs looking to establish and operate a successful freight brokerage company. It outlines the objectives, strategies, market ...
Crafting a solid business plan is essential for any entrepreneur, especially those in the freight brokerage industry. The Freight Broker Business Plan Template can help you:- Clearly define your business goals, mission, and vision for your brokerage- Lay out a strategic roadmap for growth and success in the competitive freight industry- Present detailed financial projections and budgets to ...
A Sample Freight Brokerage Business Plan Template. 1. Industry Overview. The freight industry is one that is valued at a $123 billion even though there are no dominant companies holding a high market value in this industry. The growth for this industry has been projected at 5.3% between the periods of 2011 to 2016.
When you write the strategy section of your freight broker business plan, remember to cover key elements such as your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants. In the competitive edge subsection, elaborate on what makes your company stand out from competitors.
Sample Estimated Startup Costs for a New Freight Brokerage Business in the USA: Note: Actual costs can vary based on location, business size, and choices. Business Registration and Licensing: $500 - $1,000. Office Space Rent (First Month and Deposit): $1,500 - $3,000. Furniture and Equipment: $2,000 - $5,000.
Use this free freight broker business plan template to quickly & easily create a great business plan to start, grow and/or raise funding for your business. ... How To Write a Company Analysis for Your Business Plan. Dave Lavinsky, April 2, 2024 How To Develop the Customer Analysis Section of Your Business Plan.
Step1: Plan Everything. One of the first steps when learning how to start a freight broker business is to plan out everything. Every aspect of the business should be planned in some detail beforehand to avoid any big surprises. For planning your business, you can use this freight broker business plan sample for Carry On.
Freight_Broker_Sample_Business_Plan. Silicon Freight Brokers objectives from the first three years of operation include: To create a service-based company whose #1 ambition is to continually exceed the customer's expectations. The utilization of Silicon Freight Brokers in at least four of the top 10 silicon chip producers, as listed in Silicon ...
Starting a freight broker business can be a rewarding venture, but it requires meticulous planning and a solid business strategy to thrive in this competitive industry. A well-structured freight…
Freight Brokerage Business Plan - Free download as Word Doc (.doc), PDF File (.pdf), Text File (.txt) or read online for free. Silicon Freight Brokers is a freight brokerage company specializing in transporting silicon chips. The company aims to become the premier broker for chip shipments by gaining expertise in the unique temperature and humidity requirements for transporting chips.
The market cycle and efficiency. Efficiency in a freight brokerage depends on understanding the market cycle and adapting strategies accordingly: Inflationary market: Characterized by increasing rates, tighter capacity, and less routing guide compliance. Deflationary market: Features decreasing rates, looser capacity, and more routing guide ...
Digital freight company Transfix is selling its road freight brokerage business, as part of a pivot to focus primarily on transportation software.. Transfix will be selling to third-party logistics provider NFI Industries, according to The Wall Street Journal. The sale will include the addition of 15,000 carriers for NFI, while Transfix says it will keep just over 100 of its roughly 350 ...
Seattle-based startup Convoy went out of business last year after having been valued at $3.8 billion 18 months earlier. Another upstart, Next Trucking, was acquired several months ago by a rival.
Between now and 2025, the freight brokerage market is expected to grow by a staggering $41.6 billion. The shipping industry has been going strong for almost 5,000 years, and together with the transportation industry, it has shaped our whole world.
DB Schenker is the world's leading global logistics provider — we support industry and trade in the global exchange of goods through land transport, worldwide air and ocean freight, contract logistics and supply chain management. "Be the first one to review DB Schenker". < $25/hr. 10000+. Moscow, Russia.
521 S. Main, Moscow, Idaho 83843 | (208) 882-2669 | [email protected] | 10am - 6pm Mon-Sat, 10am - 4pm Sun
Profile: DAS GLOBAL LOGISTIK LLC was established in 2011 as a privately owned, independent freight forwarder in Russia and 60 staff. The founders have spent most of their working career in the international forwarding industry holding significant positions in various companies. On establishing their own freight forwarding company they focus on ...
International Services: If a shipment has an actual or dimensional weight of 3,000 lbs. (1,361 kg) or more on UPS Air Freight Premium Direct (CX) service, additional authorization is needed and you will need to call 1-800-443-6379 from the U.S. and Canada or 1-913-693-6151 from outside the U.S. and Canada.
The brokerage manages more than 650,000 shipments across the Canadian border annually. A slowdown in the process could lead to wait times of four to five hours, which was the case during the 2021 strike, Burkhart said. Those delays would be felt quickly on supply chains, including automotive manufacturing, which depends on just-in-time delivery ...
FREIGHT BROKER SAMPLE BUSINESS PLAN Executive Summary Silicon Freight Brokers (SFB) is a specialized freight broker service located in Hood River, OR. The company has been set up as an Oregon C Corporation by the owner, Joe Smith. SFB's objective is to become the premier silicon chip freight broker, increasing their client base by 20% a year.
Digital Freight Startup Transfix Sells Brokerage Unit. The company, which had planned a public listing until a freight demand downturn hit the sector, will focus on its software business. Transfix ...
Best for customer satisfaction: State Farm Life Insurance. Best for older adults: Prudential Life Insurance. Best for agent support: New York Life Insurance. Best for long-term care: Columbus Life ...