Why Are Freight Brokers Leaving the Industry?
Despite the undeniable health of the freight brokerage industry, every year a large number of brokers quit business in the months of September and November (based on data provided by My Carrier Resource).
For the last more than 3 years, the number of active freight brokers has seen a steady increase month over month (see the chart below).
However, each year, around the months of September and November, more brokers are leaving the industry than compared to the rest of the year. You can see the chart below (negative numbers mean there were more brokers who entered the business than the number of brokers who left).
Here at Bryant Surety Bonds, we’ve been at the forefront of some of the major events concerning the freight brokerage business in the U.S. We work hard to help freight brokers fulfill their bonding and licensing requirement despite the bond increase in 2013 and we wrote numerous publications on the topic. Below are just a few:
- The increase in Freight Broker Bond requirements calls for a new bonding program
- Best Practices for Renewing Your Freight Broker Bond
- Is freight brokerage still a good business to be in?
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Hello this is Monty Bryant. I’m going to be starting a freight broker business don’t have a business name yet but want to see if I could qualify for a surety bond of 75,000 – 100,000
Thank you for reaching out! A company name is required to issue the bond, but it’s not needed to get a quote. You can find more information and apply for a free quote here. Wishing you the best of luck!