Trucking is the lifeblood of the American economy, accounting for more than 72.5% of the freight transportation across the country. With more than 3.3 million drivers, and 7.6 million people employed directly or indirectly by the trucking industry, it plays a significant part in the US job market.
At the heart of this industry are the truckers who are continuously looking for the loads to keep their trucks on the roads.
There are a variety of methods that truckers can use to find loads to haul. They can also use a mix of the following methods to find the best pay-outs and preferred routes throughout the United States.
A load board is the most widely used method to find a load of your choice and preference. There are hundreds of free and paid options of digital load boards with thousands of loads on the marketplace.
Both shippers and brokers can post available loads, while truckers can post about their equipment, route, and types of trucks. Truckers can also call the brokers for further information and rate negotiations.
A load board is an online marketplace that enables the shippers and brokers to post loads and find the carrier.
Think of it as an online matching system, similar to a dating site, that allows the carriers to find the most profitable loads to keep their truck on the road and maximize their earnings.
With this online platform, carriers will typically buy a subscription to search for thousands of load options in real-time. You can also post your empty trucks along with other information, such as the type of truck(s) you have available.
Brokers and shippers can reach you out with follow-up information or you can contact them directly for a posted listing of a load. A load board also allows you to communicate about the specific load and negotiate on price. Load board also helps the truckers to check the reviews and credit scores of a particular broker or shipper.
Load boards are widely used in the US trucking industry to move freight across the country. With roughly 97% of carriers operating 20 or fewer trucks, load boards are certainly worth exploring. This is especially true if you’re just starting your own trucking business, are an owner-operator, or own a small fleet.
If you’re a new trucker owner-operator, using a load board can help you grow your business and find new business partners.
The trucking business heavily relies on networking and relationships, whether that is with a broker, shipper, or fellow truckers. Load boards can assist you in expanding your network, establishing new relationships, and staying up to date with the rates, news, and the latest trends in the industry.
There are hundreds of real-time listings available on load boards you can choose from. It also puts you in control, as you can tell the broker about where you are and what your destination is to find freight along your preferred routes.
According to The Economist, an average truck driver drives 28% of their total mileage without a load on a return trip. Better networking with the brokers through a load board can significantly reduce this downtime and help you make more money with your truck.
There are plenty of load board options in the market with both free and paid monthly subscriptions. We’ve compiled a list of the top five load boards with powerful features to find your next load.
Here are some of the best load boards for truck drivers, owner-operators, and brokers:
Outside of load boards, you may wonder be curious to source your loads through freight brokers. In short, freight brokers connect truckers with shippers for a commission fee.
With consistent ties to shippers and multiple load options, freight brokers can help kick start your carrier business. They also do the legwork and negotiation on your behalf with the shipper, which can help you focus on your job when you’re just starting out or expanding.
Building a strong relationship with your broker is critical. As with any contract or agreement, it’s also important to set clear terms with your broker and look out for any hidden fees or charges.
Once you gain a certain amount of experience and industry knowledge and your business is already up and running, you can look for options other than a broker.
There are plenty of ways to find a load for your trucks outside of freight brokers, including freight factoring, becoming a government contractor, brokering your own deals, and networking with other small carriers or truckers for referrals.
Hauling loads directly from the shippers (or customers) might sound tempting because you can save the commission of the broker. However, this also means it’s up to you to find, negotiate and sell to the shippers yourself. This process takes a lot of time and hassle to build relationships and negotiate rates with the shipper.
You also need to build relationships with multiple shippers in order to guarantee a load on your way back from the destination to prevent the dreaded deadhead miles.
Most shippers award the shipping contracts through bids which are generally available for larger carriers and fleet owners. Large shippers also require the TSM systems with EDIs and APIs.
If you have a single truck or a small fleet, this might not be an ideal option for you.
Freight brokers offer their services to find and broker deals with the shippers and the carrier/owner of the fleet for a commission.
Relationship matters a lot in the trucking business. A good working relationship with the broker helps you find the best deals at any given place and time. Some of the large shippers also prefer to work with freight brokers because of their huge network of truckers and carriers across the country.
Digital freight matching apps ease the process of finding loads with a set rate for each haul.
Drivers can accept the published jobs at a fixed rate without the hassle of negotiations. This process eliminates the need for back-and-forth negotiations, saving both parties time. The downside is that you may not earn as much as you would without the fixed rate.
According to a 2019 study by FreightWaves, carriers surveyed say that only source 11% of their freight from freight matching apps.
Despite the rise and focus on Direct Freight Matching Apps, the most popular method for sourcing freight for carriers running one to three trucks continues to be directly from freight brokers, shippers and load boards.
We are pleased to announce the opening of EXPRESS FREIGHT FINANCE, an independent factoring company…
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