How to Start a Freight Brokerage Business
Perhaps you want to start your own freight brokerage business but you don’t know how to start. Through this article, we will walk you through the requirements and the procedures as to how to start a freight brokerage business.
You will find a good freight brokerage business guide that you can use through this article.
The freight brokerage trade involves a lot of money. In fact, it can give you at least US$346 billion of gross profits annually. As a freight broker, you are arranging transportation for other companies who wish to ship their goods from one place to another. Thus, freight brokering is ideal for a home-based business because transportation is always in demand. Here are some things needed to start your own freight brokerage business.
Experience on the Field
According to experts, people who wish to start a freight brokerage business should have experience on the field itself. An experience on how the business actually works is a big help when it comes to managing your own business especially when the company runs across problems.
Working on the brokerage business before starting your own can also help you build up contacts, which will be necessary in order for you to accumulate a customer base when you establish your own brokerage business in the future. One way you can acquire experience on the brokerage field is to work as an agent for a broker. The agent acts as a representative for a broker in a specific area, so you work like a broker does but you do not have to deal with issues like paying carriers that do the job for you.
Freight Brokerage Business License
All freight brokers are licensed by the Office of Motor Carriers, and you are no exception. The OMC is a division of the Department of Transportation’s Federal Highway Administration. In order to get yourself licensed, check out if the Office requires you to pay a US$10,000 surety trust for the certification. This bond varies from state to state, so make sure you do your research so you can prepare the amount as soon as possible.
Office Equipment for Freight Brokerage Business
You would need basic office equipment in order to manage your business. These equipment would include a computer unit, a telephone or facsimile line, and a printer. All of these are necessary to engage in correspondence with both carriers and clients. Office space is necessary, but you can work as a broker or a broker agent from the comfort of your home. You just need the space big enough to substitute as a makeshift office.
Carriers
Lastly, aside from clients, you would need to be able to build up a database of carriers. Carriers are fortunately easy to find. You can find contact information from the yellow pages of the directory, and through the World Wide Web.
31 Comments
- i am interested for small business in freight transportation
- how to start a freight brokerage business in Aqaba, Jordan
- how do i start my own freight brokerage business in central islip, new york
- My name is Pravina. I live in Johannesburg South Africa. Please give me info on freight business from home.
- I LIVE IN JOHANNESBURG SOUTH AFRICA. CAN YOU HELP ME TO FIND A COMPANY WHERE I WILL LEARN AS APPRENTICE IN FREIGHT BROKER?
- Bryanston, need to get a Frieght Broker License, what do I do, and where to go for that? How much does it cost?
- Being a veteran of the Freight Brokering Industry, I would not recommend starting a brokerage at all! The big players out there now, CH Robinson, Landstar, etc;, Will survive the upcoming surety bond requirement changes. Before, any Joe could go get the 10k surety bond to start a brokerage. Now, most companies will not deal with you without at least a 100k surety bond. And a lot of the big brokerages have a 250k bond. Small brokerages will fall when they are required to up their bond to 100k, a possible new regulation. I recommend being an agent for a brokerage, not opening your own. As an agent, you work under a companies authority, bond, insurance, and they usually provide load boards. Sure, they take, on average, 40% of your take; A small price to pay for not having to bankroll 300k to pay carriers before you get paid and having to carry the insurance. freightbrokerconsulting.com, Advantage Trans, Greenfield, TN 38230
- i would like to open a freight brokerage business in South Africa,at Pretoria city.Could you give more information about that business
- I want start freight brokerage business in Kerala(INDIA)may I know about Rules and regulations about freight brokerage business and the minimum capital thanks
- Currently I had started my Ocean Freight Brokerage and Ship Brokerage Business in India. I want like minded groups from all the ports in India to join us in order to expand the business.Thanks
- I live in Rustenburg,North West province,South africa.I want to start a Freight Brokerage Business and I need a start-up capital
- I wanted to get more information about the Freight agent . I live in Uk. Please forward me the details. Many Thanks
- i want information and suggestions on freight business from home, i live in visakhapatnam, india,
- My age long career path is to run a successful ship broking company. How do i go about it. I live in Lagos Nigeria
- I am looking for information on the steps, how one goes about doing freight/transport brokerage from home. How to locate loads, what next & till it gets to the customer Kwazulu Natal, South Africa.
- I live in Uganda can you help me to find a company where i will work as freight agent
- HI I'M FROM DURBAN SOUTH AFRICA I NEED HELP I WANT TO START A FREIGHT CO I Have a polo and a tazz i would love to see them working. thank you
- I would like to start a freight brokerage in Cape Town RSA. Please send me some info
- I will like to start freight brokerage business in west coast please send me info about how to go by it
- Please help to start an independent Freight Brokerage in Bloemfontein, Free State(South Africa)
- please assist me with information to start a transport/tranload broker. m staying in the free state-qwaqwa.
- Hello, I would like to start a freight brokerage business in Bulgaria, Romania and Moldovia. Please send me some information. Best Regards,
- My name is Henry, a highway driver in Nigeria, but living in Lagos state, all I need is ur assistance to get a loan for my transportation business to buy a bus or siena and ready to pay back with interest
- hello would like to start up a transport broker business please send me some info on where to start.
- Hi there, may you kindly help me get a freight broker license to start in the free state rsa please. Regards, Mafa, 0829432396, mafconm@yahoo.com
- I've been practicing with John D Thomas at atex school of freight brokering and would like to apply for a broker license in Johannesburg, I need help finding where to get my brokering business licensed.
- I want to start a freight broker business in India give me some guideline for start this business
- Hi could you please send information about starting a general transport broker business in south Africa. I live in Pretoria
- Hi I live in durban, south africa I started a logistics company but I need some help acquiring customers please help me thank you
- I would like to start a freight brokers business in South Africa do I have to register with anything to become licensed as a freight broker in South Africa?
- Need partners, not workers, to form a strong logistics brokerage firm in Joburg that will assist with transporting goods locally and internationally. Already they are a few clients at the book..come let's work together ..contact me by email.
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