Freight brokers in New Hampshire working in the shipping industry, help loads of cargo get where they need to go in order to be used or sold.
Working as an intermediary, a broker connects the shipping company with cargo on hand that needs to be moved to carriers that can help them move it safely.
These brokers are a vital part of the supply chain.
Article Table of Contents
- 1 Freight Broker Duties in New Hampshire
- 2 Licensing Requirements to Become a New Hampshire Freight Broker
- 3 New Hampshire Freight Broker Training Programs
- 4 Freight Broker Salary
- 5 Frequently Asked Questions
Freight Broker Duties in New Hampshire
A freight broker uses their knowledge and connections to help find reliable carriers for goods that need to move to a final destination.
When a shipping company has goods they need to move but no available carriers to take them places, a freight broker can come in and help.
The freight broker helps move the goods in and out of New Hampshire’s ports.
In addition to finding a reputable carrier, the broker helps communicate delivery routes, times, and costs to each party.
To operate a freight brokerage in New Hampshire, you will need to register the business with the Secretary of State’s office.
You can do this online or in-person in the secretary of state’s office in Concord, New Hampshire.
There is a $100 fee for this filing.
Licensing Requirements to Become a New Hampshire Freight Broker
Before becoming a freight broker, you must hold either a high school diploma or a GED.
Next, you will need to apply for a broker authority from the federal government.
The cost for this is $300 for each type of brokerage, or $600 if you plan to broker all kinds of goods.
Once you submit your broker authority application, you will receive a motor carrier number, which you will use to finish getting your business set up.
Another requirement for freight brokers is holding a surety bond, which guarantees your customers that the work will be completed properly, or the bond will pay them for the number of their losses caused by your fault.
The bond should be valued at $75,000 per federal guidelines.
If you are not able to put this whole amount of money together, you can work with a bond company that will help you get the whole amount of the bond in exchange for a deposit.
The amount of the deposit can range from two to four percent of the total amount of the bond, depending on your credit score and other factors.
Having this bond in place gives your customers peace of mind when dealing with you, helping you land contracts.
New Hampshire Freight Broker Training Programs
While New Hampshire does not require you to get specialized training to become a freight broker, you may want to take some classes that help you understand the industry and what will be expected of you when you start working as a freight broker in New Hampshire.
Currently, there are no in-person training programs available in New Hampshire, but online programs can teach you what you need to know.
Brooke Training teaches how to be a freight broker in as little as five days through an intensive online program.
The classes cover how to prospect for work as a freight broker, the logistics of moving loads around the state, and how to determine the right amount to charge for these services.
Another online training option is Freight Broker Boot Camp, which offers one-year access to the student so you can work on the lessons in your own time.
The company states that the classes can be done, and students can start working as freight brokers in as little as 30 to 45 days.
Beyond these training programs, you can pursue certification in freight brokering.
If you want to get certified as a freight broker, you can take the Certified Transportation Broker exam offered by the Transportation Intermediaries Association.
Holding this certification can help you prove how serious you are about your career and help you recruit new clients.
The fee for taking the exam is $375 for members of the association and $525 for non-members.
Freight Broker Salary
Statistics show that as of 2021, the average freight broker salary is around $33,000 annually.Annual Salary Range: Annual Salary by Location:
|Location||Avg. Annual Salary|
Frequently Asked Questions
How much does it cost to register a freight brokerage business in New Hampshire?
The initial cost to register your business with the state is $100.
This is in addition to the fees you will pay to the federal government, which can range from $300-$600.
Where do freight brokers in New Hampshire work?
Most freight brokers in New Hampshire help move loads from highly populated areas like Manchester and Nashua to other parts of the state like Derry and other destinations.
You will typically get a response from the federal government in four to six weeks.