5 Tips when Booking Loads from Load Boards

Booking a load on a load board can be initially daunting as there are many variables to getting a lane with the correct market rate per mile. Freight itself is the lifeblood of our industry and at this current uncertain time, it is in high supply. Markets change based on location, time of day, freight type, weight, and even weather. My first recommendation would be to continue calling. Getting experience in negotiation just takes time. Brokers want dependability and often will pay for it if you sound positive, polite, and assertive.

1. Finding the Best Head-Haul

This strictly depends on your starting location. If you are in Texas, you will have the best chance of going towards the border or in any major city for a high-paying load. Your first load should give you the ability to pay for your fuel and the driver for the full round trip. The back-haul should mainly consist of your profit and take-home pay for yourself or your driver. This home-court advantage is something you must stress when negotiating a rate with brokers or partners.

2. Research the Spot Markets and Trends of the Industry

Rates change daily in some areas. It is best to ensure you are getting the most for your work. However, if you are not looking into the consumer and market trends of the city or even throughout the nation, you will consistently lose bargaining chips that are needed when talking to brokers. In today’s market as of 2020, trucking companies have been squeezed tightly with many going out of business, further relinquishing supply of trucks to all suppliers in the U.S. Overall, it is a great time for trucking companies to be aggressive with rates, as currently, other companies are doing the same. Follow the trends of all other trucking companies, get involved with trucking Facebook groups or Linkedin forums, as they show the day to day news regarding brokers. They show real possibilities when it comes to rates. Some trucking companies follow hurricanes to assist with FEMA routes while others buy older trailers to insert cowhides for higher profit margins. There is always a process and strategy you can follow instead of simply taking general freight.

3. Find your Niche Market Lanes.

Every trucking company should strive to become a solution for its customers. Flexibility is key in this aspect, as whenever you are categorized as dependable, then you will be the first to accept loads with the highest pay and hopefully with the shortest window times. Think outside the box for your trucking company in order to maximize the profit margin. Whether it is adding a driver teaching service with no overhead costs or waking up at later times to be in a more specific overnight market. The possibilities for profit are only as plentiful as your own imagination. Find the biggest shippers inside of your local area and also the local brokerages and pay a visit. This will get the ball rolling on an investigation into your city’s supply and demand. If a broker has a lane hauling plastics, but it pays more overnight, then that would be the recommended route for a time in order to slowly and consistently increase profit. Anything outside of larger cities will include a deadhead, which will increase your price targets. Continue to say yes to opportunity and eventually there will be something that is going to stick.

4. Beware of Certain Brokerages.

There are many stories of freight brokerages not paying out to owners due to their own failures. Being able to spot these warning signs is a must in order to ensure you avoid unnecessary headaches in the future. Freight brokers can be your greatest comrades in business or your mortal enemies. Many trucking companies have stories good and bad when working with them. If a broker does not have a strict direct process for setup, then you must not be blinded by a good rate. Look them up on Google or ask your Facebook trucking groups about them. If a brokerage is reviewed by your factoring company, then you will have no problem most of the time. Our factoring company, OTR Capital, continuously keeps an up-to-date record of brokerages who do not pay out or have issues with trucking companies and consistently warn us to stay away.

5. Consistency Over Profit

In the spot market, nothing is guaranteed. Brokers can lose customers the very next day after promising you a year of work because another brokerage will undercut them. The biggest strength of a lane that is consistent is your ability to work off of it, schedule back-hauls, or tri-lane routes. Planning is key and if you know where one or two of your legs are ready and when they pick up, then you simply need to add other routes to get you to those locations. Becoming aware of your long term plan is key when it comes to building business relationships that will consistently last and keep yourself, as well as your family, provided for. Keep this in mind and I am sure you will be on your road to success.

Andrew Gomez
Andrew@AJGTransport.com