With globalization and the growth of eCommerce, the freight business is growing faster than ever. And with increased reliability on deliveries and convenient payment options, this mode of buying isn’t about to slow down anytime soon.
And if you are looking for a business that is profitable and has a less complicated set up, then freight brokerage might be your thing.
If you are planning to start a new freight brokerage firm, the first thing you will need is a business plan. Use our sample Detroit - Freight Brokerage Business Plan created using Upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new freight brokerage business, spend as much time as you can reading through some examples of transportation and logistics-related business plans.
The freight brokerage market in the US stood at a value of 1.164 billion US dollars in 2020 and is expected to grow at a staggering rate due to the rapid switch people are making towards online shopping.
Also, due to the pandemic and various safety measures many people have adopted a new way of shopping and that has contributed massively to the growth of the freight brokerage industry.
Not just that, many sellers also prefer to set up eCommerce stores as they are easier to set up and give their business a wider reach. Which again contributes to the size and expansion of the freight brokerage business.
Things to Consider Before Writing a Freight Brokerage Business Plan
Select a legal structure for your business
The legal structure of your business not just decides the taxes you’ll pay. It also decides the amount of paperwork you’ll have to do, the liability on your personal assets, and so on. Hence, it is important to go through all of your options and choose the right one for your business. And although it might seem intimidating at first, with a little help it is quite a simple process. And figuring out early on helps you avoid unnecessary hassles as well.
Get to know the industry
Before you get started, it is important to know what you are getting yourself into. Try to understand the details of how the industry works, how do people get projects and clients, how do they manage their business, who are your competitors, and so on. You can do this by studying the market or by working under someone for a while as you set up your business. This helps you start and grow your business in the right way.
Acquire necessary skills
Having the right skill set, be it the primary skills of the business, or soft skills like communication and time management can take you a long way. So, get to know what skills you’ll need and find out ways to develop them.
Figure out a method of pitching to potential clients
It is always a good practice to market your business and grow an audience even before you get started, as it builds anticipation for your business amongst people. And while you are at it, figure out a way to pitch to potential clients and get deals. This helps you get a head start with your business.
Chalking out Your Business Plan
Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
All you need is a little research into what the industry is all about and a freight brokerage business plan. Through this article, we’ll take you through all of the above and more.
We have created this sample Detroit - Freight Brokerage Business Plan for you to get a good idea about how perfect a freight brokerage business plan should look like and what details you will need to include in your stunning business plan.
Freight Brokerage Business Plan Outline
This is the standard freight brokerage business plan outline which will cover all important sections that you should include in your business plan.
- Executive Summary
- Mission Statement
- Vision Statement
- Customer Focus
- Management Team
- Success Factors
- Financial Summary
- 3 Year profit forecast
- Company Summary
- Products and Services
- Startup Summary
- Startup cost
- Market Analysis
- Industry Analysis
- Market Trends
- Target Market
- Market Segmentation
- Strategy & Implementations
- Sales Strategy
- Advertising Strategy
- Local Publications
- Customer Loyalty Programs
- Direct Mail
- Pricing Strategy
- Operations Plan
- Functional Roles
- Functional Roles
- Administrative Functions
- Personnel Plan
- Functional Roles
- Financial Plan
- Important Assumptions
- Brake-even Analysis
- Projected Profit and Loss
- Profit Yearly
- Gross Margin Yearly
- Projected Cash Flow
- Projected Balance Sheet
- Business Ratios
After getting started with Upmetrics, you can copy this sample business plan into your business plan and modify the required information and download your freight brokerage business plan pdf or doc file. It's the fastest and easiest way to start writing your business plan.
Ready to Start Your Planning?
Now that you know how to write a business plan, it's time to create one for you.
Remember that problem and market analysis are essential, but implementation is what counts. Go through the process explained in this guide to start planning for your business.
We have created Upmetrics — business plan software to simplify the process of business planning.
Our business plan builder allows you to write and customize your business plan. Our sample business plans and inbuilt help tips will help you to get started with your writing even if you are no expert. Our business plan sections and charts will make your document visually attractive.
Our financial forecasting module will create all the essential reports automatically. You need to enter numbers, and the application will do all the math to generate all your financial statements. Later you can embed those reports into your business plan.
After completing your business plan, you can download your business plan in PDF or DOC file with Upmetrics. You can also share it online with investors just by a quick link.
Customize your Business Plan
All businesses are different. So, don't hesitate to customize your business plan according to your requirements.
Even though our sample business plans are to help you create the perfect presentation for your clients and investors, it is finally up to you to decide how you're going to present your ideas in the best light.
Business Planning Resources
We have plenty of free business planning resources available to help you with your planning. You can download our resources to learn all about business planning.