Money Making Opportunities for Freight Brokers
The transport industry is a thriving business. It is a business which keeps on growing and shows no signs of slowing down. Based on the Wall Street Journal, the transportation brokerage and logistics is the fastest growing segment of the transport industry. It is also one of the biggest earners for over the past few years, this field is taking in average yearly revenue of 60 billion dollars. No wonder that many determined individuals want to make it big in this industry and the best way to break into the Transport and Freight Industry is of course by undergoing proper and comprehensive Freight broker training.
Freight Brokers are an important part of the shipping and transportation industry. They are the bridge that connects those who want to ship their products and those who are willing to ship and deliver said products. However, the freight brokers themselves areneither the carrier nor the shipper. Their main job is to know the needs of the shipper and look for transport companies that can handle the job.
Freight brokers can earn a lot of money from commissions or salaries. They can even earn more by starting their own business or company. It is not clear cut how much a freight broker earns in a year. Based on some statistics, many freight brokers earn 100-150 thousand dollars in a year. This figure is not bad, considering the job does not require any college diploma or state exams. Some more experienced freight brokers who have their own business can make way more money than the first stated figures.
A freight broker can also earn more by working hard and smarter. A freight broker can start his own business even at home. This eliminates certain complicacies such as working for others or working for a salary and commissions. By having your own business, you are accountable for all your actions, and will be credited all the rewards. It is easy to start your own freight brokerage business. All you need is a small space for an office, a computer with internet connection, printer and fax machine, and a phone line.
In order to succeed on your own, you have to have lots of connections. You need to have a list of people who wants to ship their products on a regular basis and a list of transport companies that can help your other contacts transport their products. It usually takes around 6 months to see the rewards of being a full time freight brokerage business owner.
But before you become a freight broker and set up your own business, you must attend freight broker training first. Freight broker training is important because it prepares you for all the challenges a freight broker faces day in and day out. Freight broker training can be attended by anyone with a high school diploma. Freight broker training also helps you in preparing the needed requirements in order to become a full pledged freight broker. Many freight broker training sessions are done in a class room setting, while some freight broker training schools offer online training courses.
After completion of the freight broker training, you can now apply for a freight broker license in the Federal Motor Carrier Safety Administration or FMCSA. You can be granted a license by filling up the form and paying the accompanying fees. After that, you must wait for your Motor Carrier Number.
Once you have your Motor Carrier number, you can now apply for the FMCSA’s ten thousand dollar surety bond. After that, you can now choose to process agents for each state that you want to do business in. You can do that by answering the Designation of Process Agent for and paying the fee for each agent.
Once completed, you can now work as a freight broker for a freight company or start your very own freight brokerage company.
If you are a complete newbie to this field, the best recommendation for you is to go through a comprehensive freight broker training so you will learn from the experience of your freight broker instructors and also from long standing and proven systems available only through the reputable freight broker training schools.
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