Need assistance/advice

[artmax]

What are the suggested requirement checklist for running a cross-border freight brokerage?

Insurance - from what I understand Marsh Canada is the go-to - I'll chat with my insurance agent tomorrow morning as well.

Brokerage Bond - DB Schenker from what I've gathered.

Compliance - both proactive inhouse and doubly backed up by a CAS provider (Highway/RMIS-Truckstop/Carrier Assistance)

Funding/Capital - to be able to pay my carriers in an adequate time.

I'm here to listen to all advice!

Absolutely understand that the market is on the bottom and shippers are brutal and this business will eat me six ways to Sunday!

Also fielding direct messages if anyone wants to stay private!

 

[loaders]

In order to operate a cross border freight brokerage, you must register with FMCSA and obtain an MC#. In order to do so you will need to secure a 75K surety bond. By all means, protect yourself, your customers and your business by ensuring you are adequately insured. Be professional in your dealings with customers and suppliers. Pay your suppliers within their terms, even if that means paying them before you pay yourself. That can be difficult but as a result, you will be rewarded going forward. Make a name for yourself as a broker who pays well and on time and communicates openly. Learn to say no to customers who want to pay crappy rates. Trying to move low paying freight takes too long, damages your reputation and you make no money doing it. If you do become successful and actually start to make some money, don’t succumb to temptation and suck the earnings out of the company. Always keep some excess funds available for the “rainy days” because you really don’t want to have the bank as a business partner!

 

[artmax]

In order to operate a cross border freight brokerage, you must register with FMCSA and obtain an MC#. In order to do so you will need to secure a 75K surety bond. By all means, protect yourself, your customers and your business by ensuring you are adequately insured. Be professional in your dealings with customers and suppliers. Pay your suppliers within their terms, even if that means paying them before you pay yourself. That can be difficult but it will pay off tremendously going forward. Make a name for yourself as a broker who pays well and on time and communicates openly. Learn to say no to customers who want to pay crappy rates. Trying to move low paying freight takes too long, damages your reputation and you make no money doing it. If you do become successful and actually start to make some money, don’t succumb to temptation and suck the earnings out of the company. Always keep some excess funds available for the “rainy days” and you really don’t want to have the bank as a partner!

This is perfect thank you!