Topics Discussed: How to Become a Freight Broker in 7 Steps

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Episode Highlights:

[00:00] How to become a freight broker in 7 simple steps

[01:30] #1 – Most important of the whole process is getting trained. I have an online freight broker boot camp course. It does not matter where you get your training, as long as it's from a reputable source. There are three ways to get trained; 1st is on-the-job training (usually takes a couple of years), 2nd in a classroom setting, 3rd online training.

[02:58] #2 – Get your freight broker authority; most training curriculum will teach you how to get your freight broker authority. Fortunately, it is not that complex to file an application with FMCSA, and you do not have to take a test. You’ll need fright broker bond, BOC-3, your UCR.

[03:41] #3 – If you didn’t know, I’m a big believer that riches are in niches. This also applies to the freight industry. There’s a variety of ways you can find your niche, and it’s important to identify it early. You can always add niches later and expand.

[05:06] #4 – Set up your home office, all you really need is a computer with internet access, a phone, and an office/desk. There are pros and cons to working from home but ultimately the pros outweigh the cons.

[06:41] #5 – Leveraging freight broker technology by using load boards, a few include; Get Loaded, Truckstop, and DAT. These are all transportation management software or TMS; this is where you manage all of your customer orders, carrier data, invoicing, and payment. Load boards are also where carriers and drivers come together and make a match; carriers post their loads, and truckers post their trucks.

[08:52] #6 – Partner with a freight broker factoring company. Most people who start as freight brokers are going to need factoring. Factoring is short-term financing that allows you to pay carriers and some basic operational expenses before you get paid by your shippers. You will need to pay your carriers quickly (approx. 30 days), and shippers don’t pay until 45-60 days later. Factoring companies fill in that gap for a fee, and the relationship is usually short-term, around 1-2 years.

[10:16] #7 – Start selling and marketing your services to shippers. Now that you’ve identified your niche, make a list of who they are, reach out to them, and start selling and marketing your services to them. You can do it through cold calling/email, warm calling, or social selling. Develop a relationship with that target market so you can learn about the market and score business with the shipper.

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