Get Freight Broker Training in Colorado
Freight brokers connect shippers with carriers to get goods delivered safely on time. Freight brokering represents a job with excellent prospects and a home business opportunity like few others. Colorado is one the fastest growing states and is a wonderful place to live and work. On this page we’ll tell you everything you need to know about becoming a freight broker in Colorado and to get started in this great career.
Colorado manufacturing firms are exporting more than $7.5 billion of goods each year, and there is a robust logistics and transportation industry to service that with more than 16,700 transportation and supply chain companies.
Freight brokers are in integral part of this network, and you can form part of it with first class freight broker training and getting your license.
How do I get a freight broker license in Colorado?
There are no education or training requirements to getting a freight broker license other than possessing a high school diploma or similar. There are no specific Colorado regulation governing who can be licensed.
Broker licenses are issued by the Federal Motor Carrier Safety Administration (FMCSA), which is part of the United States Department of Transport (US DOT).
Obtaining a license involves:
- Registering your business name with the Department of Transport and obtaining a US DOT number.
- Applying to FMCSA for a license called an MC Authority. The application has a cost of $300 and takes four to six weeks.
- Getting a $75,000 surety bond. The cost of annual premium for this bond will depend on the brokerage’s credit rating and its time in business.
- Taking out general liability and cargo insurance.
- Designating freight agents in each of the states in which you intend to broker freight.
Once the license has been approved, you have become a freight broker.
There are no such requirements to become a freight agent. Typically, freight agents work for freight brokers, with the broker carrying the risk of liability in the shipment and guaranteeing the payment.
Freight Broker Training Programs in Colorado
The best freight broker schools in the state of Colorado will provide training on:
- The legal and regulatory environment for freight brokering. You will learn the important aspects of the shipping contract, and responsibilities and liabilities associated with it.
- How a freight brokerage works. You will need to understand the shipping requirements of different types of load, such as refrigerated trucks for foodstuffs. You will learn how to find carriers for your shipping clients, using online load boards to find appropriate trucking companies or owner operators. You will learn how to negotiate shipping rates and other conditions, how to monitor deliveries and handle any claims that might arise.
- How to manage your business. This will include giving you a grounding in record-keeping, accounting, reporting and financial control.
- How to sell your services. As this is highly competitive business, sales and marketing skills are fundamental to your success as a freight broker.
Brooke Training Solutions have partnered with ed2go and over 2,000 colleges and universities to offer a freight broker/agent training program that has been designed and is taught by experienced industry professionals. The program has 180 course hours of instruction and takes approximately six months to complete. In Colorado, colleges offering the program include Arapahoe Community College, Pueblo Community College and Western State Colorado University. To find a college near you, enter your zip code in the box below.
The Denver based freight company Freight All Kinds, Inc also offers training. Its four-day class covers the basics and costs $2,999.
Certification is not a requirement to become a freight broker, but it is useful in demonstrating to your clients your commitment to the business. The Transportation Intermediaries Association (TIA) has created the Certified Transportation Broker (CTB) exam, which offers graduates the highest broker certification in the industry, and a widely recognized qualification among 3PLs. The TIA offers advanced broker training to this end. A combined training and certification exam package is available for $1,050 for members and $1,325 for non-members.
How much do freight brokers make in Colorado
Entry-level freight brokers earn salaries of $26,760, according to U.S Bureau of Labor Statistics 2018 data. More training and experience can push this number up to $63,360 per year, according to the same source. This is, however, only part of the picture, as freight brokers are also paid commissions for the shipments they broker.
Should you decide to go it alone and start your own freight brokerage business, you can, in time, expect to make significantly more than this, with many experienced brokers earning substantial six-figure salaries.
Where to work as a freight broker in Colorado
The best locations for freight broking operations tends to be near the largest populations. Therefore, most job opportunities will be found in and around Denver, Colorado Springs, Aurora and Fort Collins. All the major national and international logistics corporations will have representation in Denver.