Established & Educating Since 2000
To Be A Broker...
Going into this business you must understand the step-by-step procedures, paperwork and load boards available to you. The broker must have the license which is called an authority, along with a bond or trust and a process agent. We go over all this in training.
Earning Example: Shipper pays $5,000 for a load. You find a Carriers Company to haul the freight for $4,500. That is a $500 profit. Broker keeps 100% of the earned income.
$500 - This goes into your pocket
Entrepreneur Magazine has rated the freight brokerage business as one of the top home-based businesses to own, and a recent Wall Street Journal article cited freight brokering and logistics as the largest growing sector of the transportation industry.
This is a one-on-one training course with your own instructor. You can bring others to the class in which we do give a discount per person you bring. We never put you in a class with strangers.
Learning does not have to be stuffy. So we always try to have fun while learning new and exciting knowledge. You will receive a training manual that is yours to keep. The training manual has examples of paperwork needed to broker a load from start to finish. You will also receive a "Certificate of Completion" once the course is completed.
What is a property broker?
This is a term established by the FMSCA - Federal Motor Carrier Safety Administration. FMSCA is a division of the U.S. DOT - Dept. of Transportation. A licensed individual or companies who are to help the shippers find carriers to move their freight.
What the requirements of FMSCA to be a property broker?
The property broker must obtain a "Surety Bond" with an approved bank or insurance company and maintain a "Process Service Agents" in all of the 48 states.
What is a Surety Bond? Each company must prove they are capable of paying the carriers, owner operators, airlines, railroads and any other entity being used by the broker. The individuals credit and/or financial strength will be investigated and only then will a "Surety Bond" be issued. New Law
Sometimes individuals can not obtain a surety bond why? The broker is fails to pay the transportation company - the bonding company must pay. So their are careful on who they bond. There are over 15,000 licensed transportation brokers in the U.S. Freight brokers account for over $40 billion in revenues in this industry. Half of them are full time business.
Must a Broker carry cargo and liability insurance?
By law, a broker is not required to carry cargo or liability insurance.
What do I need to be a Broker?
Computer, internet, email, telephone, fax machine on separate phone line. File cabinet, file folder, hanging folder, etc.
You will have to have: "Broker Authority" through FMCSA - Cost $300 (So don't let anyone ripe you off!) Must fill out a OP-1 and file for the Authority. A "Surety Bond or Trust Fund" - obtained through a bonding company or your bank. Cost: Will vary depending on your credit history. From $250-$10,000. Works like an insurance policy. Must fill out either a BMC 84 or BMC 85. Depending if you obtain a bond or a trust. A "Processing Agent" - cost about $50... so if you ever have a lawsuit filed against you. A lawyer from that state will call and inform you of the claim. File a BOC-3.
Can I work from home?
YES! If the prefect place to have a small business. This help keep your expenses down and get more tax deductions. Keep track of all receipts!
How long does it take for the business to take off on an average?
Usually 1-6 months to show a profit. This business is based on your determination and the time you put into it. What kind of shippers you get and the freight they give you. How many loads they give you and what do you sell them for.
A full time broker can make an average of $30,000 to well over $200,000 a year. It's unlimited according to your efforts and how focus you are on doing your job.
To Be An Agent...
To be a "Broker-Agent" is to work under a broker in the transportation field. You need to learn and understand what the brokers are looking for in an agent... before they will hire you. We have a list of over 100 brokers looking for agent right now! You are given are private list of brokers looking for agents once you have completed the course and you will also receive a "Certificate of Completion."
Learn to understand the paperwork and procedures of booking a load from pick up to delivery. Agent usually make between 50-70% of the earned income.
Earning Example: Shipper pays $5,000 for a load. You find a Carriers Company to haul the freight for $4,500. That is a $500 profit. The broker's usually pay their agents 60% of the earned income - which means out of the $500 profit you get $300.
$500 X 60%= $300 - This goes into your pocket!
You can bring others to the class in which we do give a discount per person you bring. We never put you in a class with strangers. Just you and the instructor.
We educate you on what look for before you signing on with any broker. We are an independent educational facility and our goal is to help you make the best decision before signing on with a broker.
You will receive a training manual that is yours to keep. The training manual has examples of paperwork in order to move a load. Explanation of brokering loads, picking a broker, finding shipper and carriers, getting a broker authority later down the road, building business credit and so much more.
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