Get Freight Broker Training in Indiana
Freight brokers and agents are the professionals behind the movement of millions of dollars of goods around the state of Indiana and the nation every day. They are responsible for matching up truck loads to motor carriers such as trucking companies to get their cargo on time to its destination at the right price. While many freight brokers work for large corporations, freight broking represents an excellent opportunity for a well-paid home business. You can be a part of this exciting business by getting some quality freight broker training.
In terms of logistics, Indiana boasts some important number one rankings. It’s number one for pass-through highways, it is the state with the shortest distance to the median center of U.S population, it is the nation’s largest producer of truck trailers and is first in rail tons of primary metals originated and terminated. It’s also home to the second largest FedEx air hub worldwide. It is also home to the Ports of Indiana, a statewide port authority operating three cargo ports on the Ohio River and Lake Michigan. Perfectly situated on two major freight transportation arteries – the Great Lakes and the Inland Waterway System – the state’s three-port system is a key component of the world’s most productive industrial and agricultural regions. In total, over $650 billion of goods move though the state of Indiana.
Freight brokers and agents work with the shippers of such goods and provide a valuable service in identifying the right carrier, be it a multinational trucking company to a single truck owner operator. They will choose the carrier based on their capacity, the type of cargo to be shipped and the delivery timeline. Freight broking involves negotiating the price between the two parties. In doing so, the broker or agent will earn a percentage of the shipping value.
How to Get a Freight Broker License in Indiana
The state of Indiana has no special requirements for freight brokers as the profession is regulated at a federal level. In order to get a freight broking license, you’ll need to register your business with the U.S Department of Transport, and they will issue you with a U.S DOT number. With this number, you can then apply for a license to the Federal Motor Carriers Safety Administration, which is the Department of Transport agency responsible for the regulation of the trucking industry. The application process typically takes between four and six weeks, and has a cost of $300. Before you are granted a license, you will need to demonstrate that you have adequate personal liability and cargo insurance and obtain a surety bond for $75,000. You’ll also need to designate agents in each of the states in which you intend to operate, and provide details of them to the Administration.
There is no requirement for education or training. However, this is a highly competitive business in which the best prepared will earn the most. A top freight broker training program in Indiana or online, will get you ready and hit the ground running.
Freight agents do not need a license, as they operate under the license of a broker. This is a good way to start in the industry if you want to reduce initial risk or if you haven’t got the initial capital to start your own brokerage business.
What You’ll Learn on a Freight Broker Training Course
Quality training programs will focus on teaching all you need to know about the transportation industry, and transport and contract law. They will also teach you the practical, day-to-day aspects of the freight brokerage business, such as how to find shippers, how to use online tools such as load boards, how to negotiate shipping rates and how to draw up the brokerage agreement. A broking business will also have the daily work of record and bookkeeping and financial control. The courses also teach how to market and sell you services, arming you with knowledge of advertising and marketing strategies as well as phone and email skills.
Freight Broker Training Programs in Indiana
Online training specialists ed2go have partnered with Brooke Transportation Training to create an excellent freight broker/agent training program that is available at well-known community and state colleges near you. In Indiana, these include Ivy Tech Community College and Walker Career Center in Indianapolis, Blue River Career Programs in Shelbyville, The Learning Network of Clinton County and Fort Wayne Community Schools Neighborhood Connection. Across the state border in Illinois, Danville Area Community College is another option. To find all the training classes near you, use the search box below with your zip code:
If you’re interested in a professional qualification that will help you stand out from the crowd, the Transportation Intermediaries Association oversees the Certified Transportation Broker (CTB) Program. This is a widely recognized certification.
How Much Do Freight Brokers Earn in Indiana
As of February 2020, Indeed.com reports the average salary for freight brokers in Indiana as $65,155. Commission payments represent an average of an additional $28,400 per year. Bear in mind that these are earnings for salaried workers. Running your own freight brokerage opens up the possibility of significant six-figure earnings.