Duties: Find and arrange trucking transportation for clients shipments; monitor delivery jobs; perform duties as required
Education or Training ? On the job training
Experience ? Years of experience in the truck transportation industry
Special Skills and Personality Traits ? Leadership, management, problem solving, organizational, negotiation, customer service, interpersonal, and communication skills; friendly, assertive, detail oriented, persistent, bold, enterprising, and foresighted
Special Requirements ? Business licenses; meet requirements established by the Federal Motor Carrier Safety Administration
Position Description
Freight Brokers are logistics specialists in the trucking transportation industry. Logistics is the overall process of manufacturing, holding, transporting, and distributing goods in the most efficient and economic manner possible. Freight Brokers play a contributing role in expediting the shipping process. When companies are ready to ship goods to another location, they may use their own drivers and trucking fleet to do the job. However, some companies cut costs by outsourcing the work. Such companies enlist the services of Freight Brokers to arrange for independent drivers or trucking firms, also known as carriers, to handle the tasks of picking up, transporting, and delivering the goods.
Freight Brokers are independent contractors. In other words, they own firms that offer freight brokerage services to companies on a contractual basis. Some brokers work alone or as solo practitioners. Other brokers employ one or more freight agents, who may be independent contractors themselves.
Freight Brokers act as liaisons between their clients (who may be individuals or organizations) and carriers. These brokers do not deliver shipments, nor do they ever handle the items that their clients need to be shipped. Their sole job is to locate carriers that offer the best rates for delivering goods for clients within specified schedules.
Freight Brokers are highly knowledgeable about the shipping industry. Many are former truck drivers, as well as one time freight agents and logistics specialists for shipping and trucking firms. These men and women utilize past employers and contacts (such as shipping companies, independent truck drivers, and trucking companies) as resources to assist them to make the best matches between shippers and motor carriers.
Freight Brokers perform routine tasks with each job they receive. They talk with clients to determine their shipping needs what items they are shipping, where they need to ship them, when shipments need to reach their destination, how much clients are willing to pay for shipping, and so forth. Brokers then identify the most appropriate carriers and contact them.
Brokers negotiate freight rates with carriers to satisfy clients as well as to earn a profit for the carriers and themselves. When agreements are made between brokers and carriers, brokers complete necessary paperwork. Freight Brokers may either make appointments for pick up and delivery of shipments, or request that carriers be responsible for doing this task. Freight Brokers monitor deliveries and bill clients for shipping services when jobs are completed. Upon receiving payments from clients, brokers then pay carriers for their transportation services.
As business owners, Freight Brokers are responsible for performing various duties to ensure the success of their businesses. For example, they establish client fees; develop standard contracts; obtain and maintain proper insurance and licenses; and pay taxes, bills, and carriers fees. Brokers also set aside time to generate new clientele for their business, as well as to develop additional resource contacts among independent truck drivers, trucking firms, and others.
When their businesses grow sufficiently large, Freight Brokers hire employees to work as freight broker agents. These agents work for a percentage of the commissions that brokers earn.
Freight Brokers work in office environments. Many brokers work from their homes. They set up their offices to include computers with high-speed Internet connections, copiers, fax machines, and telephones. They equip their computers with special software programs and databases containing contact information for truckers and carrier companies. Some of these professionals also build Web sites to attract clients to their business.
As self employed persons, Freight Brokers set their own schedule of hours. They generally put in 40 hours each week, but occasionally work extra hours to handle late deliveries or other unexpected circumstances.
Salaries
Freight Brokers receive commissions for their services. They earn a percentage on the total delivery fee for a shipment.
Formal income information for Freight Brokers is unavailable. In general, their earnings vary annually, and depend on the success of their businesses. Their annual net profit is determined after subtracting the total operating expenses from their gross income. It is common for small business owners to be unprofitable during their first years in operation.
Employment Prospects
Experienced Freight Brokers are in demand. Some experts in the field report that freight brokering is a small but fast-growing segment in the transportation industry.
In general, it is difficult and hard work to start a business, and it is common for new owners to have an unprofitable business or go out of business within the first three years. Their success depends on various factors, such as their ambitions, their ability to run a business, the local demand for their services, competition, and the state of the economy.
Advancement Prospects
Freight Brokers advance according to their own ambitions and interests. Like many entrepreneurs, they measure their progress by achieving their business goals and objectives. For example, small business owners may aim to earn certain annual incomes or expand their business.
Education and Training
In general, Freight Brokers learn their skills as small business owners on the job.
To be successful, Freight Brokers need basic business training in such areas as management, bookkeeping, accounting, finance, marketing, and sales. Their instruction may be formal or informal. For example, individuals can take small-business training courses offered at community colleges, at university extension programs, or through trade associations.
Special Requirements
Freight Brokers must meet several requirements to run their own businesses. They must comply with appropriate local, state, and federal laws that regulate business operations. For example, business owners must hold the proper local and state business licenses and obtain federal taxpayer identification numbers.
In addition, Freight Brokers must meet certain requirements established by the Federal Motor Carrier Safety Administration (FMCSA), which is part of the U.S. Department of Transportation. They must obtain a Freight Broker authority granted by the FMCSA; post a surety bond worth $10,000; and file other required paperwork with the FMCSA.
Experience, Special Skills, and Personality Traits
Freight Brokers normally start a business after many years of working in the truck transportation industry as truck drivers, freight agents, shipping agents, and other logistics specialists.
To do well in their business, Freight Brokers must have excellent leadership, management, problem solving, organizational, negotiation, and customer service skills. They also need superior interpersonal and communication skills, as they must be able to get along with many people from diverse backgrounds. Being friendly, assertive, detail oriented, persistent, bold, enterprising, and foresighted are some personality traits that successful Freight Brokers share.
Unions and Associations
Freight Brokers can join associations or other organizations to take advantage of networking opportunities, training programs, and other types of services and resources. For example, Freight Brokers are eligible to join the Transportation Intermediaries Association. For contact information, see Appendix III.
Tips for Entry
1. Many Freight Brokers start as freight broker agents. They are self employed individuals who work on a contractual basis with Freight Brokers.
2. Some professional associations and other reputable organizations offer short courses that introduce individuals to freight brokering. Contact Freight Brokers or organizations for information about classes that may be available in your area.
3. Be sure you understand all the time, energy, and money you must invest into starting a business. Ask yourself if you have the dedication and resolve to do it and stick with it during the hard times.
4. Use the Internet to learn more about the world of Freight Brokers. You might start by visiting the Transportation Intermediaries Association Web site at http://www.tianet.org
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