I currently drive trucks and my oldest brother has been driving way longer than I have. He is wanting to collaborate on starting up a Freight Brokering business. We do not have a business model to mock or even a business proposal to take to the banks to secure a business loan. Right now, a business proposal is what I want to work on. I have the thoughts in my head but I require guidance to properly place them on paper. I know I have to do more research but a point in the right direction will help me on my path.
Answers
Have you worked at a company who does brokering? It isn't necessary per say, but it is the best place to learn the do's and don'ts of freight brokerage. If you deal with one brokering company in particular you could get a feel of whether someone there would want to join forces in your new adventure. The best thing would be for a big customer to have a need and you fill it. You are on the right path, my advice is to get as much of these little things figured out as you can then take the plunge.
Contact the business experts at SCORE and SBDC.
There counseling is free and they know all downs and ups of starting a business.
Thanks,
Paul
One of the first questions the bank will ask you is how do you pan to pay the money back if we loan it you.
A business plan address the following:
Purpose
Product
Financing-How do I get my money back?
Most importantly who is your competition.
Good Luck.
You'll have to deal with a few ads, but you can try this: http://www.bplans.com/freight_brokerage_business_plan/executive_summary_fc.php
If you want to start from a blank piece of paper: https://www.sba.gov/tools/business-plan/1
Several universities have free programs that match business and community leaders in fields such as accounting and management to you. They will help you with a business plan and help you make a model of what your business would look like and what the expenses will be. They can cover insurance, taxes etc.
Robert Witt,
I drive for a company now but I have no clue as to how freight brokering is done. My oldest brother is far more experienced than I am and he has a general idea to the operations side of freight brokering. I would like to gain the knowledge because will be the brains behind the operation. I will be the one to get the business off the ground.
There are several experts on business plan development right here at this website! I noticed one of the veterans named Ms. Christianah Adesida offering her expertise. There may be several others too.
Many municipalities have Economic Development Councils/Departments/Commissions (they use different names, but have similar goals and services) that provide help in setting up new businesses in their community with specific programs/training/seminars and incentives.
There are a number of publications that will walk you through writing a business plan. Most can be found in your local library. I believe you do have a business model (at least in your head) or you would not know that you want to start a Freight Brokering Business. You must have come up with that idea somehow and for some reason. If the reason is that you know where to get business then that is the start of your business plan because you can estimate your top line revenues.
If you get more specific I would be willing to assist in walking you through a business plan and a presentation.
Let me know if I can be of help.
Bruce
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