Online Freight Broker/Agent Training in Minnesota
The freight brokerage industry is a dynamic and profitable sector, offering a wealth of opportunities. But, in order to secure your place in this lucrative industry, training is essential. That’s where our 90 Day Freight Broker Course comes in, designed to equip you with the skills needed to launch a successful brokering career in Minnesota (MN).
Our comprehensive online course walks you through the entire brokerage process, from industry fundamentals to advanced strategies.
Course Overview
Designed specifically for the Minnesota market, our Freight Broker Course ensures you will meet all federal requirements while building a profitable brokerage business. Over 90 days, you will learn:
- How to set up a brokerage: From obtaining FMCSA authority to securing financial backing and meeting compliance standards.
- Transportation law & insurance: Understanding legal requirements and risk management strategies.
- Load coverage & dispatching: Utilizing load boards, tracking shipments, and resolving logistics challenges.
- Financial management & sales: Invoicing, cash flow management, sales funnel development, and marketing strategies.
To ensure accessibility, our course is available in video, text, and audio. For just $890, you’ll get access to 100 hours of essential training to confidently start your journey as a freight broker in Minnesota. Plus, we have a 30-day money-back guarantee if you’re unsatisfied.
Sign up today to start your freight broking journey!
How to Become a Freight Broker in Minnesota
Minnesota follows standard federal guidelines and does not impose additional state-level qualifications for freight brokers. This means that individuals looking to become freight brokers in the state must meet the standard federal licensing and operational requirements. These include:
- Being at least 18 years old
- Possessing a high school diploma or equivalent
- Obtaining a $75,000 surety bond
While formal schooling is not mandatory, enrolling in a freight broker training program can be beneficial, particularly for those new to the industry.
How to get a freight broker license in Minnesota
Freight brokers in MN must obtain a license from the Federal Motor Carrier Safety Administration (FMCSA). The licensing process involves several key steps:
- Register your business: Establish a legal business entity and obtain the necessary tax identification numbers.
- Obtain a USDOT number: Register with the FMCSA to get a unique USDOT number.
- Submit an FMCSA application: Complete the OP-1 application form to obtain broker authority (MC number).
- Secure a $75,000 surety bond: Obtain a BMC-84 bond or establish a BMC-85 trust fund.
- Designate a process agent: File a BOC-3 form to designate an agent for legal representation in each state of operation.
Minnesota does not require you to take a formal exam to get freight broker licensing. However, individuals looking to enhance their credibility can take the Certified Transportation Brokers (CTB) exam.
This certification, offered by the Transportation Intermediaries Association (TIA), can help you stand out in the industry by demonstrating a strong understanding of transportation logistics and brokerage operations.
Career Opportunities for Freight Brokers in Minnesota
The freight brokerage industry is experiencing significant growth, driven by the increasing demand for efficient transportation solutions. According to the U.S. Bureau of Labor Statistics (BLS), employment of cargo and freight agents is projected to grow by 9.7% between 2022 and 2032, reflecting the rising need for professionals who can coordinate the movement of goods.
In Minnesota, the transportation and warehousing sector plays a vital role in the state’s economy. As businesses strive to meet consumer demands promptly, the reliance on skilled freight brokers becomes increasingly essential.
To capitalize on these burgeoning opportunities, obtaining specialized training is crucial. Proper education ensures you have the necessary knowledge of logistics, regulations, and market trends to position yourself for success in this dynamic field.
Choose your career path as a freight broker
Once you have obtained your freight broker license, you have the option to either start your own business or work for an established company.
Starting your brokerage
Starting a freight brokerage business can be an exciting and rewarding venture. As a business owner, you gain the freedom to make your own decisions and shape the direction of your company. This path allows you to pursue entrepreneurship and build a business from the ground up.
However, it also comes with a significant level of responsibility as you’ll need to manage daily operations, such as marketing, client relations, finances, and staffing.
Working for an existing company
Working for an established freight brokerage firm offers a more structured and stable work environment. As an employee, you can focus primarily on the core task of brokering freight without needing to worry about the complexities of running a business.
Ideal for those who prefer to avoid the entrepreneurial side, this stability allows you to concentrate on closing deals and building relationships.
Earning potential and salary for freight brokers in Minnesota
In Minnesota, the average annual salary for a freight broker is approximately $52,550, which is slightly above the national average of $52,460.
Here’s a detailed comparison of freight broker salaries in Minnesota across different percentiles:
| Percentile | Minnesota Salary | National Salary |
|---|---|---|
| 10% | $39,370 | $36,520 |
| 25% | $40,010 | $40,410 |
| 50% (Median) | $47,900 | $48,330 |
| 75% | $60,270 | $60,140 |
| 90% | $68,640 | $72,820 |
It’s important to note that these salaries can be influenced by factors such as experience, education, and specific employer policies.
Additionally, freight brokers often earn commissions on top of their base salary, which can significantly impact total earnings. Commission is often based on the gross profit margin of each shipment. For example, a 15% profit margin on $2 million in sales would result in a gross profit of $300,000.
Employment trends for freight brokers in Minnesota
The freight brokerage industry in Minnesota is experiencing steady growth, with increasing employment opportunities and competitive salaries. Below is an overview of the current employment trends in Minnesota vs. the national trends.
| Location | No. of Freight Brokers (2020/2022) | Projected No. of Freight Brokers (2030/2032) | Projected Growth (2020-2030/2022-2032) | Projected Annual Job Openings (2020-2030/2022-2032) |
|---|---|---|---|---|
| Minnesota | 1,340 | 1,430 | 7% | 140 |
| U.S. | 95,900 | 105,200 | 10% | 11,000 |
FAQs
1. How long will it take to complete the course?
Our Freight Broker Course takes 100 hours to complete, spread over 90 days.
2. What do freight brokers do?
Freight brokers are intermediaries between companies that need to ship goods and the carriers that transport those goods. They negotiate contracts, arrange for transportation, and ensure that shipments are delivered on time.
3. What is the difference between a freight broker and an agent?
A freight broker operates as an independent business owner and typically manages multiple agents and clients. A freight agent, on the other hand, works for a freight broker and is often paid on commission for bringing in clients or securing shipments.