Freight services play an important role in the supply chain. This is because they are a way of ensuring that goods are delivered to their final destination. In this article, we’ll take a look at some of the main freight broker license requirements, why they mean for you as a freight broker, and how they cost.
We’ll also go through some other ways in which you can help businesses and individuals choose a freight service provider (freight broker).
Freight Broker License Requirements
Seven freight broker license requirements are necessary to obtain a license. These requirements are as follows:
- Must be a United States citizen or have a valid visa
- Cannot have any felony convictions within the last seven years
- Must be at least eighteen years of age
- Must have a high school diploma or equivalent
- Must pass a Transportation Broker Authority (TBA) exam
- Must submit a $300 filing fee
- Must provide a $75,000 surety bond
If you are looking to become a freight broker, it is important to be aware of these requirements. Freight brokers play an important role in the transportation industry, coordinating the movement of goods and commodities.
If you are interested in pursuing a career in this field, the first step is to ensure that you meet the above requirements.
What Does Freight Broker License Mean for You As a Freight Broker?
There are several reasons why obtaining a freight broker license is beneficial.
- First, it allows individuals to work in the transportation industry in a capacity that is both challenging and rewarding.
- Freight brokers play an important role in ensuring that goods are transported safely and efficiently, and they are often responsible for arranging transportation for large and complex shipments.
- In addition, freight brokers typically earn a good salary. According to the Bureau of Labor Statistics, the median annual salary for freight brokers was $58,780 in 2018.
- This means that half of all freight brokers earned more than this amount, and half earned less.
- Obtaining a freight broker license is also a good way to start your own business. Many freight brokers work as independent contractors, and some eventually start their own freight broker businesses.
- If you’re interested in a career in the transportation industry, obtaining a freight broker license is a good option to consider.
It’s a credential that can open the door to a challenging and rewarding career, and it also has the potential to lead to a good salary and the ability to start your own business.
How Does Freight Broker License Cost?
Here’s a look at some of the things that can affect the cost of a freight broker license:
- The training you need – The cost of these training programs can vary, but they typically range from $1,000 to $3,000.
- The exam you need to take – To obtain your license, you will need to pass an exam administered by the Federal Motor Carrier Safety Administration (FMCSA). The cost of the exam is $300.
- The bond you need – All freight brokers are required to obtain a surety bond for $75,000. The cost of the bond will depend on several factors, including your credit score.
The task of becoming a freight broker is a lengthy and complex one. You’ll have to satisfy many criteria before you can even apply for your license; also, you have to know the freight broker license requirements and pass several demanding exams once you receive it.
But the work is worth it—freight brokers make excellent money, and there’s little risk of contract work as demand is always high.
So if you’re up for the challenge, start studying now to get ready for the course and take that first step towards joining this very lucrative industry.