Get Freight Broker Training in South Dakota
Every working day of the year, America’s shipping and carrier companies call on the services of freight brokers. That’s because these brokers are responsible for finding trustworthy carriers to transport loads of goods. In this way, they help keep the nation’s economic engine running strong.
Although it may not rank high in population, South Dakota offers significant opportunities for new freight brokers. Many of these brokers work out of home offices while enjoying substantial profit margins from year to year. Here’s how you can launch your career in the broker industry.
What You Need to Become a Broker
You must follow federal regulations if you plan to work as a South Dakota freight broker. These regulations come from the U.S. Department of Transportation and its Federal Motor Carrier Safety Authority (FMCSA).
No one can work as a broker before graduating high school or getting their GED. After reaching this educational level, you can request a USDOT number from the government. Every business involved in goods transportation must have one of these numbers. That includes freight brokers as well as their counterparts at shipping and carrier companies.
With these essentials taken care of, you can apply for a license from the FMCSA. Unless you meet this agency’s requirements, you can’t legally work as a broker in South Dakota or any other state.
On your FMCSA application, you must include proof that you have enough insurance for your proposed business. Currently, $75,000 is the level of coverage needed. Federal rules state that your insurance must take the form of a trust fund agreement or a surety bond.
Your application must also include a list of people called process agents. These are individuals who can be served with court papers in matters involving your business. You must have one such agent in South Dakota. You must also have one in any additional state where you write a broker contract or establish an office.
The FMCSA charges a $300 fee to everyone who submits licensing paperwork. Most applicants get their licenses after waiting for a month to 45 days.
Broker Training in South Dakota
Most prospective brokers seek out training before they look for work. This makes a tremendous amount of sense. Why? Because all successful brokers need to have a clear understanding of four key subjects, including:
- What it takes to handle the needs of clients at shipping and carrier companies
- What it takes to handle management responsibilities such as bookkeeping and general organization
- What it takes to follow current regulations governing all freight brokers
- What it takes to achieve marketing success for your broker business
You have a range of choices for broker training. However, not all options are the same. Some training programs may only cover some of the topics you need to know. In contrast, top programs go above and beyond to make sure you’re thoroughly prepared.
For reputable, thorough broker training, try the full-scale course created by ed2go and Brooke Transportation Training Solutions. This course meets all of your needs with:
- 180 hours of self-paced instruction
- Training materials created entirely by industry professionals
- Broker resources available after you graduate
In South Dakota, there are two in-state institutions offering the Brooke Transportation/ed2go course:
- Western Dakota Technical Institute (Rapid City)
- Black Hills State University (Spearfish)
Just insert your zip code to find freight broker/agent training near you.
Residents of Sioux Falls and Rapid City can also find convenient program options nearby in neighboring states.
Wherever you get your broker training, you may want to follow up by seeking professional certification. This certification means you meet the high standards set by industry trade groups. Perhaps the most important of these groups is the Transportation Intermediaries Association.
Potential Earnings for South Dakota Freight Brokers
The annual income average for South Dakota freight brokers is about $48,500. It’s important to note that this sum does not include the money you can make from broker commissions. In a year’s time, the typical broker receives $20,000 or more in these additional fees.
Where Do Freight Brokers Work in South Dakota?
South Dakota freight brokers working in the Sioux Falls area have incomes that exceed the state average. That’s true because this city is by far the state’s largest urban area. Brokers may also find success working in Rapid City.