TransCore released the second annual Broker Benchmark Survey at Transportation Intermediaries Association Annual Meeting.
Almost 500 freight brokerage companies and third-party logistics providers completed the survey, which asked about company operations, revenues, margins and sources of business. Survey respondents reported that profit margins averaged 15.8 percent, a 5 percent decline from last year's average of 16.6 percent.
As part of the survey, brokers offered insights about their strategies for coping with the turbulent business environment. The survey found that 39 percent had not changed their business practices in 2008, while 31 percent cut costs 30 percent cut jobs, and 13 percent did both.
Some companies added sales people or agents, improved operational efficiency, tightened credit controls and/or enhanced customer service. Broker-carriers were more likely to resort to layoffs, while non-asset-based brokers were more likely to continue current practices, cut costs or add sales personnel.
Click here to download the survey.
Almost 500 freight brokerage companies and third-party logistics providers completed the survey, which asked about company operations, revenues, margins and sources of business. Survey respondents reported that profit margins averaged 15.8 percent, a 5 percent decline from last year's average of 16.6 percent.
As part of the survey, brokers offered insights about their strategies for coping with the turbulent business environment. The survey found that 39 percent had not changed their business practices in 2008, while 31 percent cut costs 30 percent cut jobs, and 13 percent did both.
Some companies added sales people or agents, improved operational efficiency, tightened credit controls and/or enhanced customer service. Broker-carriers were more likely to resort to layoffs, while non-asset-based brokers were more likely to continue current practices, cut costs or add sales personnel.
Click here to download the survey.
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