Freight Broker Training in Wisconsin
Freight brokers forge working agreements between shipping firms and freight carriers. In this way, brokers help make sure that people and companies across the U.S. receive needed products when expected. Some people with this job title work for larger broker firms. However, others go their own way and work from home or in separate business offices.
Wherever you work as a Wisconsin freight broker, it’s possible to find success and financial security. However, to realize your dreams, you must make a clear, realistic plan. Here are some of the most important things to consider as you prepare yourself for action.
What’s Required to Work as a Wisconsin Freight Broker
Under rules established by the Federal Motor Carrier Safety Authority (FMCSA), only high school graduates and GED holders can work as freight brokers. The FMCSA also requires you to register with its parent agency, the U.S. Department of Transportation, and get a USDOT number. No business can operate in the transportation industry without holding one of these numbers.
A USDOT number and high school education are just the preliminary requirements for prospective freight brokers. You must also get your license from the FMCSA.
There are two main steps in the license application process. For starters, the FMCSA asks you to meet a business insurance threshold of $75,000. A surety bond in that amount is acceptable. If it’s more convenient, you can also submit documentation from a trust fund agreement.
In addition to getting insured, you have to designate legally responsible parties to represent your business in court. The official name for this position is process agent. You need one agent for every state that serves as home to one of your broker offices. It’s common to serve as your own process agent in your state of residence.
It takes about 30 to 45 days for your application to result in the issuing of a broker’s license. To cover its costs, the FMCSA expects an upfront payment of $300.
Broker Training Options
Training is a necessary investment for new freight brokers. When done correctly, it helps you learn how the industry works before you open for business. Proper training also:
- Gives you the inside scoop on successful broker management techniques
- Shows you how to follow all federal and state laws
- Gives you the tools you need to market, advertise and grow your client base
Looking for high-quality broker training in Wisconsin? Try the 180-hour course created by Brooke Transportation Training Solutions and ed2go. You won’t find a better resource for in-depth industry knowledge, affordability and convenience. Choose from a variety of Brooke Training/ed2go providers including:
- University of Wisconsin – Parkside (Kenosha)
- Moraine Park Technical College (Fond du Lac)
- University of Wisconsin – Platteville
- University of Wisconsin – Eau Claire
Just insert your zip code to find freight broker/agent training near you.
Brokers in Wisconsin may also seek advanced training through a top-quality certification program. Such training can help you stake out your position as an expert in your field. In turn, your expertise may translate into heftier fees and a larger clientele for business.
Income Expectations for Brokers in Wisconsin
With time, you can expect to earn an average of roughly $42,000 a year working as a Wisconsin freight broker. That level of earning includes calculations for your basic income. However, it does not include the extra money you take in each year on commissions from your business transactions. These commissions can increase your annual income by 50 percent or more. The state’s top brokers enjoy total yearly earnings that hover near the $100,000 mark.
Locations for Wisconsin Broker Businesses
Freight brokers can find success in any environment that offers large populations and access to shipping and carrier companies. Locations in Wisconsin that fit these important criteria include:
- Green Bay
Just select the area that best suits your personal needs and circumstances.