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New & Emerging Markets for Freight Brokers: Is It Worth Diving In?

It’s an exciting time in the global economy, with new shippable markets emerging all the time. Renewable energy and solar power alone can provide lucrative opportunities for freight agents and the transportation industry. However, when industries are just taking off, they can be somewhat unstable and certainly unpredictable. Is it worth breaking into buzzworthy markets as a freight agent? Let’s take a look at some things to consider if you’re thinking of diving in.

New Markets Provide Diversification
Entering into trending markets doesn’t mean you have to leave your current customer base behind—why would you? Instead, look at it as adding to what you already have, but strategically diversifying your service expertise. This is actually a smart move as tapping into new industries can protect your business from potential economic downturns or fluctuations in the demand from the industries you currently serve. Ultimately, stepping into new markets and adding to your current customer base provides opportunities for increased revenue streams and growth potential, though it’s best to think of income from emerging markets as a bonus until you know if they’re here to stay.

Exercise Your Freight Agent Skills
With trending markets, you’ll get a chance to really re-polish your freight agent skills. You’ll get to position yourself as the partner of choice for customers in these new realms and demonstrate your customer service skills to a market that maybe doesn’t currently have their own experts in the field. This is an opportunity to enhance your reputation as a reliable and versatile freight broker. By successfully handling shipments in different regions with varying regulations and customs processes, you’ll build relationships with local carriers and partners who can help facilitate smooth operations in those areas.

Lead the Industry Forward
As an early supporter of a new or expanding industry, there will be no way of skipping past the learning curve. You’ll be required to do your own research and understand how to coordinate the movement of this new commodity in order to prevent delay or disrupt shipments. That said, you’ll grow along with the market and others in the field who are doing the same, and by nature you’ll be come an expert just by putting in that extra work up front. You may even have the chance to influence and shape that specific market’s future.

Opportunities don’t come without challenges, but new or trending markets do provide ways to grow and flourish as a freight agent. By being one of the first brokers to enter these developing markets, you have a unique advantage over competitors. However, it's essential to acknowledge the challenges that come with expanding into new markets. We say—if you’re up for the challenge or are personally passionate about an industry, go for it! Here at Sureway, we support our agents and encourage smart growth and strategic expansion. Just approach it with an open mind and the right work ethic to ensure you’re getting the most out of your new venture.