Do You Need to Pay the $75k Freight Broker Bond Upfront?

This is a question that almost every newbie auto transport broker asks. Hearing that you need to satisfy a $75k insurance obligation to fulfill your dream to become an auto transport broker can be disheartening. Especially if you don’t have that kind of cash lying around.

Heck, it was disheartening for the veteran brokers that’s been in the business for a few years already. I mean having to fork out $10k was hard for some people let alone $75k.

When I entered the industry, the requirement was only $10k so when I personally heard it would raise up $65 thousand more dollars, I had extreme sticker shock. But I knew it was the cost of doing business and after all being able to make money in a billion dollar industry? It’s priceless.

Anytime an aspiring auto transport broker contacts me for consulting services or to join ReloAcademy, this is one of the top questions I receive literally each and every time.

So the question remains:

Do You Need to Pay the $75k Freight Broker Bond Upfront?

Well the good news? I have an answer for you.

Check out this week’s episode of ReloGeek TV to find out if you need to start making some serious plans to raise money or if you’re in the clear: