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introduction to freight brokering

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How to Become a Freight Broker

 

Ever thought “How to become a freight broker?” Stop thinking and act now!

For some people, driving a truck is just ain’t their thing. Driving to and fro can become an annoying experience letting them feel restless throughout. If you want to quit following a nine to five timer schedule, it’s time you become a freight broker. A freight broker, also called a truck broker, acts as a middleman between the customer and a carrier. They earn a huge commission from both the parties for their valuable services.

Many have in fact become professional freight brokers making tons of money while others have made a career out of this freight brokering business. “Sky is the limit.” However, certain requirements have to be considered before becoming a freight broker. Personal skills and office set up are the prerequisites before you can actually begin operating as a truck broker.

Requirements for Becoming a Freight Broker:

Broker Authority & Licensing

Each freight broker needs three items to obtain their authority:

  • A motor carrier number

  • Evidence of a $75,000 surety bond or trust fund

  • BOC-3 – obtaining legal representation in all 48 states

Another requirement that is relatively new is called the Unified Carrier Registration (UCR). The total costs on these registrations run about $1,400 to get started.

For those applicants who make a deposit of $65K to $75K into the trust fund, the administrative fee is either zero or a very low cost.

 

Office Set Up

To operate smoothly, each freight broker will need at least:

  • A reliable computer with preferably a high speed connection

  • Preferably two telephone lines – can be either land based, cell or Internet phone

  • Faxing capability – can be either land based or Internet fax

  • A filing cabinet

 

Personal skills

  • Telephone skills

  • Research skills – Internet and other

  • Negotiating skills

  • Organizational skills

  • Basic computer skills

  • Working knowledge of MSWord and MSExcel

  • Ability to sit for hours making phone calls

  • Enough capital to carry personal living expenses for a year or more

 

Here is more …..

  • A background in trucking is NOT required. Learning and applying good, fundamental business skills IS required

  • No background check is required

  • There is no age limit to get your broker authority

  • You can work off of your kitchen table – no one cares

  • Your broker authority is issued by the Federal Dept of Transportation – there are no state licensing requirements

 

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