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In the trucking industry, owner operators deal with their fair share of challenges. Because they both own and run their own trucks, they face the same difficulties as both trucking company owners and truck drivers.

Of course, if you're an owner operator, you also get all of the benefits of running your own business, including being your own boss.

When you make the most of your business structure, you can enjoy the best of these benefits while minimizing the challenges. The right freight broker can help. Here are just some of the reasons why.

Finding Consistent Work

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One of the biggest challenges owner operators face is finding loads and maintaining a steady work flow, especially for owner operators who have only recently started their business.

A lot of owner operators spend more time searching for work than they spend hauling loads. This process may be necessary upfront, but staying at this stage for too long isn't profitable long term.

Freight brokers can help you with this issue. When you partner with a freight broker, that broker can become an important bridge between your small business and the loads you need.

Brokers have access to load boards, of course, but they also have direct connections to shippers.

When you work with a broker, you can access a valuable network of clients within the trucking industry, which can help you kickstart your owner operator business or help it grow.

Diversifying Your Client Base

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Speaking of building your client network, freight brokers can help you diversify your base.

Unless your business structure focuses on a specific niche, you'll need a varied client base to grow your business and maintain stability in the trucking business.

Freight brokers have access to a wide range of customers, which can open your company to new business possibilities.

At Pearce Worldwide, for example, we work with industries like food and beverage, produce, metals, and several others.

If you're struggling to find freight, look for a broker who books the kind of loads you want. Getting an experienced broker involved can make all the difference for owner operators who want to expand their base.

Negotiating Fair Rates

Once owner operators have the loads they want to secure, they're not done working out the details yet. Before you can haul a load, you'll need to sort out your pay, and that involves negotiating rates.

Some owner operators enjoy this part of the process. Other owner operators would rather get right to truck driving. No matter which camp you fall into, this task will need to get done. The downside of being your own boss is that you don't always have room to delegate the business tasks.

Fortunately, negotiating your pay is something you can delegate if you have a truck broker on your side.

Freight brokers have a depth of trucking industry knowledge. This knowledge includes industry pay standards, market expertise, and other factors that can impact your financial situation.

They can help you strike that all-important balance between competitiveness and profitability.

Administrative Services

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Administrative services are another part of owning your own business that you may love or hate.

Tasks like invoice factoring and managing paperwork can take up a lot of your time, and if they take too much of your time, they can keep you from hauling as many loads as you could haul. You can't make money as an independent contractor if your truck never leaves its parking space.

Fortunately, getting a freight broker involved can save you a lot of time on these tasks. Brokers often assume administrative responsibility, letting owner operators focus on other parts of the business.

Trucking Industry Market Insights

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We've already mentioned that freight brokers have market insight. Again, this knowledge is how they negotiate rates and find the right loads for trucks.

But the knowledge that freight brokers offer goes well beyond helping you find freight and sorting out your pay.

Freight brokers stay on top of all new developments in the transportation industry. Paying attention is a key part of the job. Owner operators can benefit from their insights on trends, regulations, and other important information.

How to Find the Best Broker for Your Trucking Business

Now that you know some of the benefits of freight brokers for owner operators, it's important that you choose the right company to partner with. Not all brokerages are the same. Some will go above and beyond for their owner operators, while others will just scan load boards and call it a day.

Fortunately, there are plenty of ways to figure out which company is the best one to find loads for your truck. Look for the following traits to make the best decision for your needs.

Experience and Reputation

If you're interested in a freight broker, do some research on their reputation in the trucking industry. Look for feedback from other owner operators who have worked with this business in the past.

Your broker should have a solid track record and years of experience finding loads for independent contractors.

Trucking Industry Connections

Owner operators should also look for a truck brokerage with lots of connections. This goes hand in hand with experience and reputation. The more connections a truck broker has, the easier it will be for you to find freight. For an independent contractor, these connections can make all the difference.

Financial Stability

Next, ensure that your freight broker has financial stability. Your truck broker's financial situation can impact yours. A financially sound broker will have resources to pay you on time and respond to any unforeseen circumstances.

Transparent Communication

As an independent contractor, you know the importance of communication in the trucking industry. Your clients rely on you for clear communication every time your company hauls a load.

You deserve the same clarity and transparency from your broker. If you're going to trust them to find freight for your business, you'll need to trust that they can keep you informed.

By carefully evaluating these factors, you can find a freight broker that matches your needs and provides support for you to overcome common challenges.

Overcome Obstacles with Pearce Worldwide

In the trucking industry, owner operators face a lot of challenges. At Pearce Worldwide, we understand those challenges, and we want to partner with you to help you meet those challenges head on.

Want to learn more about Pearce and find out what we can do for your owner operator business? Get in touch with us today.

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Conquer Obstacles: How Freight Brokers Help Owner Operators with Common Challenges