How to Become a Freight Broker in Indiana
If you enjoy negotiating prices to find great deals as well as handling logistics, you may enjoy a career as a freight broker. This career will also require excellent communication skills. You will be responsible for joining shipping companies with carriers by finding carriers who are reliable, efficient and willing to get the job done for a price that supplies you with a good margin of profit. While items are being transported, you will be expected to communicate with both the shipping company and the carrier, making sure both parties are on the same page. Freight agents will often work for freight brokers as independent contractors who handle many of the day-to-day functions of the business.
Requirements for Becoming a Freight Broker in Indiana
In Indiana, there are currently no statewide regulations for freight brokers. Nationally, all freight brokers are required to earn a high school diploma or GED as well as a government-issued Broker Authority license before practicing.
If you’d like to become more advanced before starting your own business or finding employment, you may consider earning certification, completing a training program or finding an apprenticeship opportunity. Although none of these options are required by law, it is a wise decision to take the initiative if you’re interested in setting yourself apart from the competition.
Indiana Schools for Freight Brokers
Advancing within this trade may be easier if you decide to enroll in a training program for freight brokers. Consider one of the options below:
- Freight Broker Boot Camp is based online. The program enables student to learn how to become a freight broker in just 30 days. For a payment of $98, students receive six months of full online access to training articles, workflow diagrams, financial strategies, negotiating methods and much more.
- Brooke Training offers oth in-person and online courses on the basics of freight brokerage. Students will also learn advanced techniques, and qualified veterans are allowed to complete courses free of charge. Upon course completion, all students receive job placement assistance.
- Freight Movers School offers training programs which can be taken either in-person or online. One program will teach freight brokerage basics and the other focuses on improving sales. The in-person courses are currently offered at locations in Texas and Georgia.
Certifications for Becoming a Freight Broker in Indiana
The licensing process for freight brokers is overseen by the U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA). According to this administration, the first step to obtaining your Broker Authority license (also referred to as a Motor Carrier Operating Authority license) is to register your company as a business. The next step is to obtain a U.S. Department of Transportation number. Finally, you will need to submit this number, along with a completed application and $300 application fee, to the FMCSA. Within 4 to 6 weeks, if your application has been approved, you will receive your license. The FMCSA also requires that all freight brokers carry a $75,000 surety bond at all times.
You may choose to become a Certified Transportation Broker by completing the exam administered by the Transportation Intermediaries Association. If you’re new to the field and looking to build a long-term career, this certification may be especially beneficial to you.
Career Outlook and Salary Expectations
Freight brokers in Indiana earned about $18.98 per hour on average, which is equivalent to an annual income of $39,470, according to Bureau of Labor Statistics data from 2017. During the same year, the top 10 percent of freight brokers in this state earned an annual income of $50,780.
BLS figures indicate that, during 2016, there were 1,240 freight brokers employed in this state. By 2026, this number is expected to rise to 1,400, signifying a 13.3 percent increase in the job market during this 10-year period.
Working as a Freight Broker in Indiana
Freight brokers in Indiana will earn the highest compensation in densely populated cities like Indianapolis and Fort Wayne.
While some freight brokers may prefer to work for existing brokerages, others may choose to go into business for themselves. If you are meticulous, well-organized and ambitious, starting your own brokerage may be the right decision for you.