2023 Top Freight Brokerage Firms | Transport Topics (2024)

FAQs

2023 Top Freight Brokerage Firms | Transport Topics? ›

While the future of freight isn't guaranteed, several factors point to a positive outlook for freight brokers in 2024. As regulatory changes take place and fraud continues to evolve, brokers should adapt to a changing market, and safeguard their business against economic uncertainty.

While the future of freight isn't guaranteed, several factors point to a positive outlook for freight brokers in 2024. As regulatory changes take place and fraud continues to evolve, brokers should adapt to a changing market, and safeguard their business against economic uncertainty.

There are 82,188 Freight Forwarding Brokerages & Agencies businesses in the US as of 2023, an increase of 0.2% from 2022.

Freight Brokerage Market size was valued at USD 51.7 billion in 2023 and is estimated to register a CAGR of 6% between 2024 and 2032. The rise of e-commerce has led to an increased demand for efficient and flexible freight solutions.

With a net revenue of around 2.2 billion U.S. dollars, C.H. Robinson is the largest freight brokerage firm in the world in terms of net revenue in 2022. Total Quality Logistics ranked second with a net revenue of some two billion U.S. dollars.

Your work as an Independent Freight Agent presents a unique array of stresses. Perhaps the most challenging of them is finding a healthy work-life balance. With only 24 hours in a day, it often feels difficult to successfully juggle relationships, exercise, family, hobbies, and of course–work!

With more businesses emphasizing supply chain efficiency to ensure streamlined operations, demand for freight broker and 3PL solutions should remain strong. With more competition and better technology, brokers and 3PLs will keep offering economical rates, dependable work, and quicker shipping timelines.

Broker (Freight): Also known as a Freight Forwarder or Third-Party Logistics company (3PLs), that operates as a middleman between the customer and the carrier to negotiate freight rates, services and manage any complications throughout the shipment lifecycle.

The leading commodities by weight are natural gas and other fossil fuel products; gravel; gasoline; and nonmetallic mineral products. The leading commodities by value are high value-per-ton goods, such as electronics; motorized vehicles; mixed freight (principally food); and pharmaceuticals.

The estimated total pay for a Freight Broker is $110,859 per year in the United States area, with an average salary of $71,906 per year. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users.

How much do top freight brokers make? ›

Freight brokers make their money in the margin between the amount they charge each shipper (their customer) and what they pay the carrier (the truck driver) for every shipment. Although it varies from one transaction to the next, healthy freight brokers typically claim a net margin of 3-8 percent on each load.

Start social media accounts for your brokerage on platforms like Linkedin, Facebook, and Instagram to find potential clients and referrals. Include in your profile bio a one-liner about your areas of specialty, locations you service, and if you have a particular niche e.g. oversized loads to reach your target audience.

Yes, freight brokers can indeed make 7 figures – many have successfully grown 6, 7 and even 8 figure businesses.

The fact is, the freight brokerage business is very fragmented with thousands of brokers and the majority of freight brokerage firms does less than $5 million per year in sales. It's important to note that while gross revenue is great, the key lies in running a profitable and sustainable business.

Depending on your expertise, your salary range can be anywhere from 10% to 35% commission for each truckload. Ultimately, the average broker ends up getting margins of around 15%. This percentage is a portion of the total amount of money that customers give you. So, how much do freight brokers make?

The India Freight and Logistics Market size is estimated at 317.3 billion USD in 2024, and is expected to reach 545.6 billion USD by 2030, growing at a CAGR of 9.46% during the forecast period (2024-2030).

Freight trucking market size is anticipated to grow from USD 2,856.73 Billion to USD 5,530.97 Billion in 10 years. The primary drivers driving the market growth are the rising global E-commerce sector expansion, the growing use of telematics in cars, and the strategic initiatives of the industry's top competitors.

On average, the yearly freight broker salary in the U.S. is $71,500 ($36.67 per hour). Entry-level positions begin at $45,000 per year, while most experienced professionals earn up to $107,500 per year. As a freight broker, you can start your own trucking business and become your own boss.

Freight brokers make their money in the margin between the amount they charge each shipper (their customer) and what they pay the carrier (the truck driver) for every shipment. Although it varies from one transaction to the next, healthy freight brokers typically claim a net margin of 3-8 percent on each load.