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FREQUENTLY ASKED QUESTIONS ABOUT FREIGHT
BROKERING AND TRANSPORT TRAINING OF AMERICA, INC.
What is a Freight Broker? What are the
legal requirements to operate as a Freight Broker? Is there a need for
more Freight Brokers in the Industry? What is the difference between a
Freight Broker and Freight Broker Agent? What are the responsibilities
of the Freight Broker and Freight Broker Agent? Can I work from home?
What do I need to get started? How much can I earn and how soon can I
start earning it? Is Freight Broker Training required? Why should I
attend TTA versus other schools? How long has TTA been in business?
These are all valid questions
that you should ask and understand before attempting a career as a
Freight Broker or enrolling in a Freight Broker training school.
What is a Freight Broker
(Property Broker)?
Property Broker is the correct
terminology for many names used in the business to identify what we do.
Such as, Truck Broker, Freight Broker, Freight Agent, Transportation
Broker or Agent, and many lesser-known descriptions. Property Broker
Authority allows a third-party to arrange pick up and delivery of a
Shipper's product by a Carrier without ever having physical control of
the shipment. These shipments are typically TL, Truckload, but can also
be LTL.
What are the legal
requirements to operate as a Freight Broker?
You must apply for your
authority from the FMCSA allowing you to act as a freight broker, post a
Surety Bond and file your BOC-3.
Is there a need for more
Freight Brokers in the industry?
According to the U.S. Bureau
of the Census's County Business Patterns - In 1990 there were 64,000
establishments providing agricultural services and 358,000 manufacturing
establishments, by the mid 1990s, there were 99,784 establishments
providing agricultural services and 386,868 manufacturing establishments
in the U.S. Today, it is estimated there are close to a million.
Needless to say, there is a very large market for a broker or an agent,
and it is expanding.
It has been recently estimated
that freight transportation cost in the US is well over the multi
billion dollar range annually and rising. The amount of this freight
being moved by third parties such as Freight Brokers is estimated
currently at the 20-30% range and growing. More Shippers are using
Brokers & Forwarders each year since it is usually much less expensive
for a Shipper to use an outsource, such as you and I, than to fund and
maintain an in-house staff functioning as a Transportation Department.
Employee-related costs are usually the most expensive part of any
business operation. Paying a Broker on a performance-only basis is the
trend of the future with many Shippers.
What is the difference in
being a Freight Broker or a Freight Broker Agent?
A Broker is the owner of his
or her own company. They are required to meet all legal requirements
(Authority, Bond, BOC-3) to operate as a Broker.
An agent
works under the Authority of the Broker and typically receives a
percentage of the Brokerage fee.
Can I work from home?
Yes! In fact, in starting
your business it is recommended that you start from a home office to
keep your expenses low while you grow and expand your business.
What do I need to get started?
The following will be required for either the broker or the agent
startup:
1.
Internet access (DSL if possible)
2.
A fairly fast computer.
3.
A fax machine – if you do not own one consider one of the 4-1 machines.
Office Depot and other supply stores will run specials on acceptable
units.
How much can I earn as a Freight Broker and how soon can I start
earning?
This is an excellent business
and the Brokers that are successful are making anywhere from $40,000.00
to upwards of six figures per year dependent upon the decision to work
part-time or full-time operating a home-based business to a larger
office with just a few employees. This business is based on contacts
and relationships. It takes time to build up contacts and relationships
and turn them into paying customers. Sometimes it can take six months
or longer to establish a solid customer base to see a profitable
income, but it can be done in less time. Overall time lengths vary
primarily on the individual’s determination and desire to succeed in
this business.
Is Freight Broker Training
School required?
Freight Broker Training School
is not required to receive your property broker authority. Of those
that attempt this business without training the failure rate is higher
than many will tell you about. Most of these failures are due to
situations where attention to detail was lacking and it will cost you -
both financially and in reputation. Training will prepare you to pay
attention to detail and protect yourself liability wise along with
training you in numerous other aspects of Freight Brokering.
Why should I attend Transport
Training of America, Inc. versus other Broker training schools?
Transport Training of America
or (TTA) will arm you with the necessary knowledge you need to succeed
in this business and we will motivate you to become a true professional
in the field. Transport Training of America is the number one trainer
of freight brokers in the nation. They have earned that position by
training scores of future brokers and agents and delivering training
that consistently exceeds student expectations. TTA facilitators are
extremely knowledgeable professionals, who speak from years of
experience in all facets of the industry.
Transport Training of America,
Inc. is the only freight broker training school licensed by a State
Department of Education. We are members of the Better Business Bureau,
local Chamber of Commerce, OOIDA, and the Alabama Trucking Association.
We are pleased to provide our training in association with some of the
largest names in transportation such as H.I.S., Inc, Internet Truckstop,
Broker's Best Software by Broker's Technology of America, Post
Everywhere & PC Miler. We work with Vocational Rehab, WIA, and other
state and federal funding to provide our students additional funding
options for training.
While there are many training
companies offering Freight Broker Training and some at cheaper prices,
we feel that you truly get what you pay for. Please be sure to do your
homework before agreeing to attend any school, including ours. Make
sure of the schools credentials, associations, placement guarantees,
brokerage practices, instructor qualifications, business standings,
check past graduate comments and ask to speak personally with past
graduates. You are embarking on a new career, remember you get what you
pay for!
At TTA, we offer our students
the most comprehensive training followed by the guarantee of agent
placement and graduate perks including discounts to Internet Truckstop,
free trial of Post Everywhere, discounts on software including Brokerage
software and PC Miler, and much more. While all of these are great
benefits to attending our training, we feel that the education we offer
you combined with our emphasis on honesty, integrity and service will
give you the base needed to operate as a successful Broker or agent.
How
long has TTA been in business?
TTA held it’s first freight
broker training class in June 2002 in Alabama. We have since expanded
to include a facility in Dallas, TX and have alternate locations across
the United States throughout the year. TTA International (Canada)
coming soon!
The founder of TTA has been in
the Transportation Industry since 1968 in many facets including an Owner
Operator, dispatcher, VP, agency training and consulting for major
brokerages, owned his own agency, and is now the founder of The Brown
Companies, Inc. which includes a host of transportation entities
including Transport Training of America, Inc, H.I.S., Inc. Brokerage,
and others. He chose to start TTA as a way to contribute to raising the
standard in the Transportation Industry, specifically in the Brokerage
field. Combined with instructors and key personnel, TTA provides
students and customers with over 65 years of transportation experience.
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