Get Freight Broker Training in Iowa
Iowa enjoys an excellent central location and a wealth of transportation options. As such, it’s a great place for moving freight and a great place to be a freight broker. On this page, you’ll find out all you need to know about becoming a freight broker or agent in Iowa, including state and federal license requirements, where to find the best freight broker training and your employment and home business options.
Iowa is a huge agricultural producer. The food produced needs moving by truck to its end markets in a timely, efficient and safe manner in the appropriate vehicle. Iowa in recent years has also witnessed growth in manufacturing, food processing other industries. More economic activity causes the movement of more goods and increases the opportunities for enterprising freight brokerages in the state.
Freight brokers and agents negotiate the price and terms for the shipment of goods between the shipper and the motor carrier, who may be a national or international trucking company or a single owner operator. Freight agents are not required to hold a license, but rather work under the license of a freight broker and share the brokerage fee.
How to get a Freight Broker License in Iowa
Freight brokers require a federal license to operate. The state of Iowa does not impose any additional requirements. To get your federal license you will need to apply to the U.S. Department of Transport.
To obtain the license you must first register your business and apply for a U.S DOT number. Then you apply to the Federal Motor Carrier Safety Administration, paying an application fee of $300. You will need to demonstrate that you hold the appropriate general liability and cargo insurances as well as a $75,000 surety bond. The application process takes four to six weeks. You will also need to provide a list of freight agents you have designated in each state in which you intend to operate.
There are no educational or training requirements, but as in any lucrative business, there is intense competition, and quality training will give you a sound basis on which to start.
What will I Learn on a Freight Broker Training Program?
The best training programs will provide you with a robust understanding of transportation law both in Iowa and at the federal level. It will teach you the key components of the shipping contract and the roles of each of the parties in the transaction. Training will also cover how to broker the deal, how to find loads and how to find carriers, making use of the many online tools available such as load boards.
Additionally, you will learn the day to day aspects of running your own brokerage business, such as accounting and record-keeping, financial control, phone and email skills.
Finally, you will learn how to market your services and develop a client database.
Iowa Freight Broker Schools
Online training specialist ed2go has combined with Brooke Transportation Training Solutions in the development of an excellent freight broker training program that is available through thousands of community and technical colleges and state universities nationwide. In Iowa, this includes Des Moines Area Community College in Ankeny, Iowa Community College in Marshalltown and Fort Dodge and Kirkwood Community College in Cedar Rapids. To find colleges near you, enter your zip code in the search box below.
Once qualified you may also want to consider becoming a certified freight broker through the program offered by the Transportation Intermediaries Association. The cost is $1,050 for TIA members and $1,325 for non-members.
How Much do Freight Brokers Make in Iowa?
As a salaried freight broker working for a brokerage, Indeed.com estimates that you can earn a base salary of $32,000 a year plus $28,400 in commissions. With good training, however, you will be prepared to set up your own home business. Experienced freight brokers can earn significant six-figure annual salaries.