Looking for work that is steady, profitable, and also allows you to run your own business and work from home?
Do you live in Oklahoma, one of the most essential states for American freight transportation?
If the answer is yes to both, you should take a look at the world of freight brokering for possible opportunities.
But before you do, you probably should get some more details about what a freight broker does and what you have to do to become one.
So, let’s take a look at what the duties of a freight broker are, the licensing requirements to become a broker, the different types of programs for freight brokers, salary ranges, and a few FAQs you may have.
Article Table of Contents
- 1 Freight Broker’s Duties in Oklahoma
- 2 Licensing Requirements to Become a Freight Broker in Oklahoma
- 3 Freight Broker Programs
- 4 Salary
- 5 Sources
- 6 Frequently Asked Questions
Freight Broker’s Duties in Oklahoma
A freight broker’s duties essentially boil down to being the person that helps a shipping company connect with freight carriers to move a shipping company’s freight from one place to another.
However, you are not just the person in the middle.
You act as a shipping company’s advocate in locating the best and most profitable deal for them and the carrier.
This is a very important job, especially in Oklahoma, which is an essential traffic corridor for transporting American goods all over the country.
A freight broker in Oklahoma is a key component of this transportation network.
A freight broker also does not need to be tied to a single shipping company.
This allows a lot of flexibility for a broker to develop new business while maintaining firmly established business relationships already developed.
Licensing Requirements to Become a Freight Broker in Oklahoma
To become a freight broker is not as easy as just finding a job opening, applying, and being offered employment.
A freight broker in Oklahoma must go through a licensing and registration process, created by the U.S. Department of Transportation’s Federal Motor Carrier Safety Authority (USDOT FMCSA).
This process is the same across all fifty states.
Once you apply and get a business identification number from the USDOT, you can start the official application process.
For this, you will need three things:
- Proof of broker insurance in the amount of $75,000
- A filing fee of $300
- List of names of process agents working for the business
Process agents act as your stand-ins during legal proceedings and accept responsibility for your broker jobs.
If you have offices and live in Oklahoma, you can stand in for yourself.
If, however, you open offices in other states, you will have to provide the names of agents for those specific states.
The whole process takes approximately 4 – 6 weeks.
In the end, you will receive a Broker Authority operating license.
Freight Broker Programs
Okay, you have got your business number and license.
You are ready to hit the road running and get to work.
How do you gain the knowledge necessary to become a successful freight broker?
To gain this knowledge, you should consider a freight broker training course.
These courses should cover, in detail, all aspects of a freight broker’s world, ranging from business matters and management, sales and marketing, all the way to forging and maintaining relationships with shipping companies and freight carriers.
Courses by ed2go and Brooke Transportation Training Solutions cover such guidance in about 180 hours of training combined, costs approximately $1900, and takes about six months to complete.
These courses can be found in such places as:
- The University of Oklahoma, Outreach (Norman)
- Oklahoma State University-Oklahoma City
- Tulsa Tech (Tulsa)
This is far from an exhaustive list.
A little further research will yield you even more potential locations for training.
You can also enroll online at the ed2go/Brooke Training website.
This is all good to know, of course, but is it worth it financially?
How much can you expect to make as a Freight Broker in Oklahoma?
Well, the average annual income for a freight broker in Oklahoma is roughly $33,000 a year with the potential to earn close to another $30,000 in commissions.
The national average is just over $44,000 with a similar amount in commissions potential.
It should be noted, though, that more established freight brokers can earn up to $60,000 alone before commissions.
In the end, it is about getting your broker business up and running and building steadily over time, just like any business.Annual Salary Range: Annual Salary by Location:
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Frequently Asked Questions
Is there an annual cost to maintain broker insurance?
Yes, in Oklahoma it ranges between $938 to $9,000 a year.
Is there a certification program for Freight Brokers?
The Transportation Intermediaries Association offers a certificate through their Certified Transportation Broker program.
It is considered the gold standard in the freight brokerage industry and costs approximately $1050 for members and $1350 for non-members for the course and exam.
You also need to meet certain professional and educational eligibility requirements to be considered.
So, where to begin?
Well, you already have just by reading this little article.
All you need to do now is decide if you want to keep going.