Episode 22: How to Generate 10k in Revenue on the Spot Market with DAT Load Board Pt. 2

In this week’s episode our Freight Guru, Luis Lopez, and special guest Jeffrey Aranguran, Operations Manager at FTL Hub, Full Truckload walks us through how to book a load on the Spot Market using DAT.

Listen to the Full Episode Here

 

How to Post a Truck:

Posting a truck on the DAT Load Board gives you the ability to upload your tuck info and let freight brokers know your availability and type of vehicle.

When you input your information, brokers will be calling you /to offer loads and negotiate rates.

Take a Look at Part 1 here

A broker can also post loads on DAT and drivers can call showing their interest in said loads. However, according to Jeff, whoever is receiving the call has the upper hand when negotiating rates.

Who are You Booking with?

When it comes to booking loads, you cannot book with just any broker. You want to make sure that they are trustworthy and reliable because “at the end of the day” you need to get paid. As well as covering expenses like lumpers, truck leases, etc.

Ways to “Verify” your Broker:

When searching for loads, you can see the broker listed on the load. Their information will disclose their contact info as well as their credit score.

According to an article, “The broker’s credit score is one of the most important ways to demonstrate that they will be able to provide a safe shipping experience. Shippers can count on their broker(s) with good credit to pay their carriers on time and focus on providing services that help benefit and grow all parties involved.”

In other words, if there are delays in payments, you can count on your broker to cover them in the meantime. If a broker doesn’t have a credit score, it could mean they are new in the industry.
In this case, you can secure payments using:

  • Pre Pay – Getting half of the payment before the journey and the other half once it’s finished.
  • Secure banking options like EFS Credit Trust.
  • Services like PayPal to ensure your payment.

Another way to verify your broker is by checking on the DAT directory for reviews, these will tell you if the broker is new to the business and/or their track record.

Reviews go both ways, build your reputation and get good ratings as a driver by being transparent, have constant communication, and stay consistent on your TMS.

Accurately calculate your miles using TruckHub mileage calculator, a free TSA connecting shipper, brokers, and drivers for any load and any tuck on our website FreightGuru.io

Let’s Talks Rates:

Rates posted on DAT are subjective to the brokers creating the posts. It’s not the most accurate way to know what “you should” get paid, it gives you a rough estimate of what most brokers are offering for their loads.

When negotiating you need to ask important questions like

  • How many pick and how many stops
  • How heavy is the load?
  • How many touches – meaning, do we need to unload? If so, how many stops? This is very important to be able to calculate your lumpers.

Rates may vary by load, millage, vehicle, and zones. Hot zones have the most opportunity like popular hubs and port areas.

 

TIP: When booking loads for the month for your drivers, select a group of brokers you feel comfortable with throughout the month. Working with new brokers every week can lead to inefficiency and inconsistency. It’s better to stay with the same brokers you have gotten to know building relationships and partnerships.

 

Take a listen to these past episodes to set yourself up for success in the trucking industry:

How To Start A Business in 2021 – The Freight Guru Podcast Ep. 20

Owning VS Leasing Trucks – Truck Industry Entrepreneurs

“Learning how to find ways to improve my business” – The Conference Room

 

Recommended Logistics and Trucking companies:

FTL Services – http://teamdgd.com – https://ftlhub.io –  https://gologisticshub.io

LTL Services – https://goltlhub.io

Hazmat Services – https://gohazmathub.io

TMS – https://mytruckhub.com

Logistics Services – https://gofreighthub.io

Fulfillment – https://www.sunshipecommerce.com

Warehousing – https://gowhsehub.io

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Meet Luis Lopez

Luis Lopez is the chairman of Go Hub Holding Group, a logistics holding corporation and the active CEO of Freight Hub Group.