Discussion in 'Preferred Broker' started by Neat_Lion, Jan 16, 2014.
Anyone have info on a broker from Fargo, ND / SMJ Freight Solutions / Heard they were very good
Well, well.. When saw this posing I just could not resist to respond -Two Points wants to know what others think about them. Here it goes then...
Last loads I did for you were in Aug 2012 and I have to say you guys are up there with the best. Payment was no issue even though there was a detention charge. Over all, no problems whatsoever and the rates were solid. From the flatbed operation point of view I wish I could do more work for brokers like you that seem to be a dying breed as big US brokerage houses that have not a clue on what is involved in a flatbed work take over from smaller Canadian entities. Good luck!
Sorry to have offended you, Michael. I was only pitching factoring...not my company (note that I have since removed my contact info as I too thought it was a bit shameless...that said, I see at the bottom of your posts that you think we all SHOULD use our real names). I disagree with you in that I think factoring can be a valuable tool when used correctly, but like any form of leverage, it will accelerate the demise of a company that is not run properly. I used to work in corporate finance for a large publicly-traded company that had an $800M factoring facility...lots of smart people there agreed it was the best solution for us despite our numerous financing alternatives. We've made many people millionaires. I see carriers opting for QuickPay and I know factoring can be much cheaper AND they'd have the added benefit of us managing all their receivables and doing credit analysis. You make a valid point that it is not for everyone, but it certainly is the only option for many. I also agree that carriers are better off not dealing with companies that take long to pay, say 60-90 days, but many carriers are happy with payment in 0-60 days with the help of a factor.
Sorry to all on this thread for the divergence from topic.
Here here Michael, good post and very true. I work for a very reputable broker in the middle of our country and we also own now 16 trucks. It's so interesting have both and working on both sides you sure learn quickly to pay your outsourced carriers well and fairly and as well you learn who the heck you wanna do loads for quickly and you call them often hahaha. It's all about relationships and building them.
Good point. There is also a lot of interlining of lane-share agreements between carriers (which in legal terms is still brokering).
A lot of this industry is about networking effectively to get the right results.
Back to the topic at hand ...
There are great brokers out there. There are also great people out there that are well on their way to being great brokers. Then there are the bad apples that you find in every barrel.
It takes a lot of hard work, concentraion, and investigation to identify and weed out the bad apples, but in the end the exercise is well worth the effort. You end up with a core group of brokers that you can count on, and they in turn end up with a carrier that they can count on ... it's win-win all the way.
Packrule; you're wrong ... it's not almost every carrier, it is every for-hire carrier uses a load broker
Even the largest carriers on the continent see the value in using load brokers, and they didn't get to where they are by being stupid or careless wth their operations.
More than a bit off topic.
I'm not speaking for anyone else but myself ... frankly I find Keyfactor's flogging their ads in the forums, whether they are on toipc or not, offensive. Buy an ad and support the site properly.
It is my opinion, and I stress, this is only my opinion, that if you have to factor your invoices, you are only one step away from having the bailiff nail the notice on the door.
I simply don't see a logical need for factoring other than if you have an exceptionally long A/R list, but typically factoring companies don't take those accounts anyways.
A simple rule of thumb ... if your customer (whether broker or customer) pays beyond acceptable terms, then their rates are higher than those those the pay within, or better than, acceptable terms. The difference in the rates should cover the cost of financing their operations plus some value for the risk. If you can't afford either the financing or the risk, then you shouldn't be dealing with that customer.
A bit off topic, but maybe useful for many on this thread:
It's pretty clear that there are more than a few good brokers out there, but many do not pay soon enough for some carriers. Solution: factoring!
Brokers: factoring can simplify your lives because carriers get paid sooner and are not always calling you for payment. To make it even better, many factors, such as myself, offer attractive referral fees for any business you send their way. In the end, you make money for helping out your carriers AND have less stress at the end of the day...what's not to like?
Carriers: if you like doing business with your current brokers but wish they would pay sooner, why not factor your invoices and get paid sooner? You can spend more time earning money hauling loads and less time on the phone calling brokers for collections. Recourse factoring could reduce your financing costs by as much as 50% and the risk might be quite low if you have a longstanding relationship with the broker. You could also always go with non-recourse factoring, but I've always found it to be costly.
Lots of good factors out there...ask around to get their names and give them a call.
I'm a good broker with an average of only 7 days to pay. We're mostly flatbed with a little bit of LTL.. lots of loads from the southeast to Ontario. My name is Ulrich (aka "Rick")..company is Seufert Transportation Systems Limited in Guelph. I'm a one man operation..in business since 2005..move about 2000 loads a year.
We have dealt with you a few times, Mike over the past couple years. We had no issues dealing with you and we got our payment on time. We definitely have no complaints.
I would love to hear carriers feedback on our company !
Two Points Logistics out of Stoney creek, ON.
While we try to keep our rates inline, pay on time, etc... I'm sure there is something we could improve on. I'd like to see us on your best brokers lists !
you don't have to press one and than two and three to talk to someone they always answer their phones and are great to work with,
pay in 7 to 30 days ....
To Bigtrucker and a few others in here that believe brokers are all bad that is the furthest from the truth. In today's transport almost every carrier brokers freight and has for sometime. And some brokers now have trucks. it's really too bad that this site for all it's ability to pass information still seems to fall victim to stereotyping. At the end of the day as either a truck or broker it's up to the individual to do the right things.
I agree 100 % !!!! Thank god for brokers like these, doing their job, so we can do ours...
Some that I think make for good brokers are Lakeside, Boyder Systems, All loads, Inter United. These brokers are good and they pay their bills within 30-45 days. Inter United pay in less then 30 days. I have no issues using these people.
would also be good to know how many days some take to pay.
some brokers may have lower rates but if you get your money within 14 days then it makes up for the rate.
whereas you could take a great paying load and only get paid in 90-120 days...
up to you to deal with the broker you want after that...
M R Fastfreight
These would probably be my top four for Ontario based brokers and they are in no praticular order as I know at least 3 of them are on here and I dont wanna swell there heads.
I hate brokers with a passion but Lenwat, Equitrans, Road Freight are a few good ones to mention. These people don't waste our time and know exactly what it is they're moving and have all the details & paperwork way before they even call for rates, unlike Traffic Tech etc. Their rates may not be the highest, but they make up for it by making sure the loads are hassle free, if there is any hiccups, they're all over it.
Im sorry...I just spit out my coffee, did you say CH Robinson???? and Traffic Tech??
Now that I have climbed back up on my chair, here are few that deserve some mentioning.
- Ship North America
- Jakes Freight
Hmmmmmmm, lets see. How about CH Robinson, Traffic Tech, La Fiesta, G Roch, Road Shark etc, etc, etc.
I'd give you some more but then everyone would see my direct customer list.