Freight Broker Training in New Mexico
Freight brokers are the glue that connects the shipping and carrier companies responsible for goods transportation throughout the country. Without their help, shippers and carriers would face incredible difficulties trying to move goods from place to place. For this reason, brokers are respected and well-compensated for their time.
You may be surprised to learn that you can work as a New Mexico freight broker from your own home. All you need to join this lucrative profession is the right licensing and training. Here are some essential guidelines to get you started.
Steps Required to Become a New Mexico Freight Broker
The first step in working as a New Mexico freight broker is registering your request for something called a USDOT number. The Federal Motor Carrier Safety Authority (FMCSA), part of the U.S. Department of Transportation, handles all such requests. The FMCSA also sets the rules for applying for a freight broker’s license.
A USDOT number is required for all transportation companies, including brokers, shippers and carriers. In contrast, a freight broker’s license specifically authorizes you to open a broker business.
To even be considered for licensing, you must graduate from high school or complete a GED program. If you meet this standard, you can proceed with your FMCSA application. All applications must include insurance paperwork in the form of a trust fund agreement or a surety bond. Both of these documentation options must indicate that you’re covered for $75,000 in insurance liability.
Freight broker applications must also include the names of anyone representing your business as a process agent. This is the term used to identify people who make themselves responsible for your company’s actions in a court of law. All brokers must have at least one agent for their home-state place of business. FMCSA rules allow you to fill this role on your own behalf. If you plan to create a multi-state operation, you must also find someone else to serve in each separate jurisdiction.
To cover the cost of processing, the FMCSA charges a $300 fee to all applicants. Successful applicants will receive their broker’s license within a turnaround time of four to six weeks.
Training Options for Brokers in New Mexico
Training should be a top priority for any New Mexico freight brokers who want to boost their odds for profitable operation. What should this training include? New brokers need help in four key areas:
- The legal rights and responsibilities of broker businesses
- Core management principles for short- and long-term success
- The daily realities of coordinating with clients at shipping and carrier companies
- The most efficient, reliable methods of attracting potential clients
The most effective way to get the help you need is to find a one-stop course that covers all of these vital topics. A standout example of what to look for is the 180-hour program established by the corporate partners at Brooke Transportation Training Solutions and ed2go. This expert-led program sets the bar for comprehensive, affordable instruction. In New Mexico, you’ll find it offered at educational outlets such as:
- University of New Mexico at Albuquerque
- Central New Mexico Community College (Albuquerque)
- New Mexico State University at Carlsbad
- Northern New Mexico College (El Rito)
- Eastern New Mexico University at Ruidoso
- Santa Fe Community College (Santa Fe)
Just insert your zip code to find freight broker/agent training near you.
Once you complete your training, you also have the option to seek a freight broker’s certificate. This certificate functions in the same way as an advanced diploma, and indicates that you’ve gone through an additional educational process. In New Mexico and across the country, the Certified Transportation Broker program is held in the highest regard.
Income Prospects for New Mexico Freight Brokers
For their primary income, New Mexico freight brokers take in an average of nearly $50,000 annually. On top of this amount, typical brokers also earn a substantial income from the commissions they receive for their work. (In fact, commission fees can meet or exceed $20,000 a year.) It can take a while for your business to generate these kinds of earnings. Still, it’s clear that you can make a profitable living as a New Mexico broker.
Prime Locations for Brokers in New Mexico
Freight brokers who set up shop near shipping and carrier companies tend to make the best of their earning capacity. Such companies are most common in larger cities and regional hotbeds of transportation and manufacturing. Prime locations in New Mexico include:
- Las Cruces
- Rio Rancho
- Santa Fe