A & M Transportation & Warehousing Services
- Thread starter dee5276
- Start date
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sure we SHOULD have...but most of us don't..and most carriers don't either apparently. But the next best thing to that is having customers who pay us on agreed terms to keep the cashflow healthy... most of us just don't have 5 or 6 million sitting in the bank.. and if I did I sure wouldn't be brokering freight..I would be retired and basking in the sun somewhere.
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What about working with shippers direct? I thought shippers always paid their bills on time? Only evil brokers don't pay and even if they do pay they take 50% to 90% off the top. ..no?
I run a 6 million dollar business...ALWAYS pay on time...and have never had that much money on hand...it CAN be done. Just make sure your customer base is up to snuff and pays on time...I make sure my customers pay me within 30 days...most pay in 15 or less. I will not deal with slow payers.
Being very selective about who you work for makes all the difference..I can't even imagine being paid in 60 to 90+ days. It doesn't happen to me because I screen those guys out right from the get go. It CAN be done.
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Being very selective about who you work for makes all the difference..I can't even imagine being paid in 60 to 90+ days. It doesn't happen to me because I screen those guys out right from the get go. It CAN be done.[/QUOTE said:
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Freight Broker, You would not need 5 or 6 million sitting in the bank. All you would need is the prudence to limit growth to your financial resources. As a Carrier myself I have access to sufficient capital allowing me to pay my obligations as per my vendors terms. It would have been easy over the past to add 100 or 200 Owner Operators to my fleet. With an average receivable of 45 days and an average payable of 15 days it would have required a substantial amount to finance that kind of growth. We can not change our customers payment practices. We know how long it takes to receive funds so we limit growth to our resources. It is irresponsible to grow or even start as a load broker or any business for that matter without determining the amount of capital you will require to pay your suppliers on terms. I am happy to see that you have built a successful freight brokerage and pay on terms. You are a rare breed. Basking in the sun is over rated anyway.....
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Honestly, I have lost faith in their system. I have repeatedly reported problem carriers and they have not responded at all. When I call their management, I am told to write an email to their complaints department. I have written many, and no answer.
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you're right..and the good news is that some volume shippers realize that..and as a result they pay their bills promptly. They understand that the supply of trucks drys up if payments are dragged out past agreed terms. The volume shippers who need lots of trucks everyday understand that slow pay equals no trucks. The smaller shippers don't see that relationship as much...which is why I charge the smaller guys more. I look at my own carrier base in the same manner...paying promptly gives me a competitive advantage in the market place..i.e. if 20 brokers are vying for the same truck the broker with the best money and the best terms and payment history is going to get that truck.
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Volume shippers, and some smaller ones, also realize that trucking, whether provided directly by a carrier or through a third party, is a service. As such, it should be paid promptly, something that we do at my firm and have done so for the last 19 years. Granted, it was difficult in the beginning, but has paid off many times over since. We have many instances where a carrier will accept our freight at a lower rate over another broker's, simply because they know they will be paid on time. Truckit is correct, walk before you run and build up your cash reserves. Like the fable says " slow and steady wins the race".
I'm not sure link does there best anymore with collections, I know I have reported A&M and you have, and someone else must have, Link doesnt follow up like they used too. Used to only take 3 complaints, lets face it Link doesnt care who uses their service, they just want there monthly fee.
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Baron Finance has nothing to do with RBA. Completely different Company the only thing the same is that they both do factoring
Here it is a year after the last post on the infamous A&M Transportation and Warehousing. I just looked on the link and they are still on and their equifax shows a stellar 1/25 with a low amount owing.
A&M are still on my DNU list but I am wondering if anyone had any dealings with them in the past little while?
I don't want to see more people get burned from A&M if we keep this quiet.
A&M are still on my DNU list but I am wondering if anyone had any dealings with them in the past little while?
I don't want to see more people get burned from A&M if we keep this quiet.
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Jim L we have refused to deal with A&M for the last year, between Jeannie and Tiger seem to be the most arrogant and ingnorant people we have dealt with, They always call for rates and then once you give them a rate never hear back, usually over 80 days to pay, DNU for over a year
I usually put people from my DNU list through the wringer to get a quote. I ask them to send it by e-mail, then ask them to fill in more blanks like whether the freight is palletized, what is the weight, if the weight is rounded to the nearest thousandth I ask them for an actual weight, then I keep asking questions until they don't reply anymore or they give me so much information that it's too late to quote it properly. They usually stop after the 2nd e-mail and don't send any more quotes my way.
If they're on my DNU list, I don't want to have freight from them anyways.
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Never did a load for them...was going to about 2 years ago until they sent the confirmation over and in REALLY tiny letters at the bottom it stated we had to allow 4 hours for loading/offloading without compensation. Cancelled the load right away because I got a bad feeling about their business ethics and I told them that when I cancelled. Is their relationship with their customers that fragile that they are afraid to request extra charges?
I was of the assumption QUICK PAY was 24 hours or two days max. I 'd perfer to go back to the days when you got 45 % up front when you loaded & the balance upon delivery
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A & m
Always got paid from Tiger or Dawn, they have been "slow payers" since they were on Rutherford Road in Brampton 7 years ago. If you do "quickpay" you have your money in less than a week. For 5% it's worth it.
Always got paid from Tiger or Dawn, they have been "slow payers" since they were on Rutherford Road in Brampton 7 years ago. If you do "quickpay" you have your money in less than a week. For 5% it's worth it.