Freight Broker Training
A broker is an individual or organization that facilitates the purchase and sale of securities, commodities, real estate, insurance policies and other assets. Brokers work in a variety of industries and require specific licensing and education. For example, a real estate broker must earn a state-issued license and pass an exam to become licensed. Securities brokers follow a different process and are regulated by the Financial Industry Regulatory Authority (FINRA). Business brokers help companies find buyers or sellers.
While national law doesn’t mandate freight broker training, it is advisable for newcomers to seek out professional instruction. Training can cover everything from the basics of shipping to negotiating contracts and forms. In addition, it can teach trainees how to use valuable tools and software, such as transportation management systems that allow brokers to cut overhead costs by minimizing human interaction.
Freight broker training can take place either online or in person. The latter option is often more expensive, but instructors can provide valuable hands-on experience. Classroom training typically takes a few days to several months and can be arranged through local colleges, freight logistics schools or agencies or at a training school outside the area.
A freight broker can work for an existing brokerage or open their own company. In most cases, the training program is designed to help a new broker start out small and grow into a larger brokerage. Some programs also offer internship opportunities for students to gain real-world experience.
The benefits of freight broker training include gaining access to an ever-growing market, building relationships with clients and suppliers and learning about the legalities of the industry. In addition, freight broker training can also teach a person how to set up their own company, negotiate rates and terms, and find shippers and carriers.
Freight brokers and agents are essential members of the trucking, freight logistics and transportation industries. By 2026, the value of the freight brokering industry is expected to exceed $2.7 trillion. With such a lucrative industry, it’s important for freight brokers to make themselves stand out from the competition with professional training.
Brokers are required to have a high school diploma or GED and meet licensing requirements set by their industry. For example, real estate brokers must take a course and pass an examination before they can obtain their license. Those who work in the securities industry must pass rigorous exams and be licensed by the Financial Industry Regulatory Authority. Brokers in the real estate and securities industries can expect to make around $100,000 per year. Those in the freight and transportation industry can expect to earn a much higher salary with proper training. Learn how to start your career as a freight broker with our online course.