How I Built A 6-Figure Freight Broker Business

Johnny Menke

Hi, I’m Johnny Menke, an online business and life coach who has been in the trenches of building businesses for nearly 20 years. Over the years, I’ve experienced both incredible successes and some major flops.

One of my most notable achievements was building a freight brokerage business from scratch and transforming it into a 6-figure profit machine. In this blog post, I’ll share my journey—from starting out to overcoming challenges—and provide valuable lessons for anyone looking to start their own business.

Why I Started a Freight Brokerage Business

Familiarity with the Trucking Industry

My journey into freight brokering started long before I officially launched the business. As a teenager, I stumbled across a book—its title long forgotten—about getting rich as a freight broker. Although the book oversimplified the process, it planted a seed in my mind.

Years later, after obtaining my CDL (Commercial Driver’s License) to support my construction company, I grew increasingly interested in the trucking industry. My hands-on experience as a CDL driver became the foundation for my freight brokerage business.

Freight Brokerages Are Relatively Cheap To Start

One of the key attractions of freight brokering was the relatively low cost of entry. While the licensing and initial setup costs are manageable, the daily operational expenses can pile up if not handled wisely. Factoring companies—which provide upfront payments for invoices—were essential in the early days to maintain cash flow. However, relying on factoring is a double-edged sword, as it cuts into your profit margins. The goal is to move away from it as soon as possible.

Work-from-Home Flexibility

The ability to work from home—or virtually anywhere—was another major draw. I started my business in my dining room, eventually converting a spare room into an office, and later moved to a dedicated office space. For anyone not planning to scale into a multi-person operation, this flexibility makes freight brokering an attractive option.


Overcoming Obstacles

Mastering Sales

Every business requires some level of sales skills, and freight brokering is no exception. Early on, I underestimated how much selling would be involved. I quickly realized that securing loads and closing deals was more challenging than anticipated. By refining my sales techniques through practice and reading, I became better at overcoming objections and closing deals efficiently.

Finding Shippers

The biggest challenge for new freight brokers is how to find shippers. Without freight to move, the business simply cannot survive. Many training programs and books gloss over this critical aspect.

I leveraged my previous business experience to build strong relationships with potential clients. These relationships often turned into lucrative business deals. The key to long-term success lies in creating genuine connections that go beyond the transaction.

Keeping Customers Away from Competitors

In a competitive market, retaining customers is just as important as acquiring them. I focused on delivering superior customer service and building strong relationships. These two factors created a barrier that kept my shippers loyal and protected my business from competitors.


Two Traits That Fueled My Success as a Freight Broker

Determination

In the early days, it was hard to see the silver lining. Some mornings, I dreaded making calls, but I reminded myself that the next call could be the one that made all the difference. Success requires perseverance, especially in challenging times.

Resilience

Setbacks are inevitable in any business. From unpaid invoices to freight claims, I faced my fair share of hurdles. Having a solid plan and thinking several steps ahead allowed me to weather these challenges. Resilience is about staying the course even when the waters get rough.


Lessons for Aspiring Entrepreneurs

Starting and growing a business is never easy, but it’s incredibly rewarding. Here are some key takeaways from my journey:

  1. Build Relationships: Strong relationships are the foundation of any successful business.
  2. Stay Determined: Keep pushing forward, even when it feels like progress is slow.
  3. Be Resilient: Anticipate challenges and have a plan to address them.
  4. Invest in Sales Skills: Learn how to sell effectively to grow your business.

I’m not the best or most successful entrepreneur, but I’ve learned valuable lessons along the way that I hope can inspire and guide you. Whether you’re starting a freight brokerage or pursuing another venture, remember that determination and resilience will take you far.

If you have any experiences or questions to share, feel free to comment below. And if you found this post helpful, don’t forget to like and subscribe for more insights.

Until next time, keep pushing forward!

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