Becoming a Freight Broker in Wyoming – Get Your License
Are you seeking a position in the transportation industry and want to become part of a lucrative and fast-paced career path? If that is the case, then being a freight broker may be the right career for you. Being a freight broker requires being industrious and connecting with many people. Fortunately, starting doesn’t require any formal education or training. You can work independently or join an agency. If you are ready to begin but don’t know how to start, read on to discover the ins and outs of freight brokerage in Wyoming.
What do freight Brokers do?
Freight brokers are professionals who establish relationships with carriers and clients. They help shippers or manufacturers negotiate the best rates to haul their freights from Point A to Point B with the least hassle. Without the help of freight brokers, manufacturers and shippers would struggle to find local transportation carriers to bring their products to market.Setting up a freight brokerage business for trucking and transportation means taking responsibility for the shipping process. This means that you must:
- Find potential clients and cargoes for freighters
- Locate, quote, and choose safe and efficient freighters for clients.
- Network with shippers and carriers
- Negotiate rates and book cargo loads with freight carriers
- Coordinate paperwork and shipping requirements between shippers and carriers
- Track cargo loads and ensure they arrive at their destination
Skills to Become a Freight Broker in Wyoming
Your job as a freight broker will require research and negotiation, as shipping companies will depend on you to get them the best deals.You’ll be required to communicate expectations, updates, and essential specifications. You’ll also need to speak with shippers and carriers while transporting items.
To carry out these tasks effortlessly and without problems, you will need:
- Communication Skills – Freight brokers can manage their tasks from the comfort of their homes. However, even if you’re not working on-site, that doesn’t mean you won’t be dealing with people from all walks of life who manage different responsibilities. You’ll need to be an excellent communicator to work with multiple people daily, especially as a liaison.
- Negotiation Skills – Freight brokerage is competitive and requires a shrewd mind and flexibility. That doesn’t mean you should make deals that won’t be in your favor – but it’s essential to negotiate with your clients and nurture lasting business relationships. This flexibility will pay off in the end and build solid business relationships.
- Organizational Skills – Organizational skills are perhaps the most critical part of your job as a freight broker. Your business will not last long if you don’t have systems set in place to maintain your business flow. Your ability to put things in place and follow up a series of events will determine how successful you will be as a freight broker.
- Marketing skills – As a new or independent freight broker, you are your business’s entire sales and marketing team. You must be able to market/ network your business to both local and international audiences using every means available.
Required Licenses and Certification to Become a Freight Broker in Wyoming
Wyoming does not have specific regulations for freight brokers at the state level.However, all freight brokers must operate according to the laws established by theFederal Motor Carrier Safety Administration (FMCSA).FMCSA offers the Motor Carrier Authority license (MCA) that authorizes you to become a freight broker in Wyoming and anywhere else in the United States. Additionally, you must be at least 18 years of age and possess a high school diploma or GED to qualify for the license. To get started, here are a few steps you must take:
- Identify your business or your employer
- Pay a registration fee and apply for a USDOT number and a Motor Carrier (MC) number
- You’ll also have to obtain liability and carrier insurance and have a surety bond of at least $75,000
The registration process takes between four to six weeks to complete, so keep that in mind if you plan on starting soon.
Relevant Educational Training
While it would be a plus to receive post-high school training before you begin, you are not required to do so. However, you can enroll in formal training designed for training new and experienced freight brokers.
A good freight brokering training program will train you in skills such as:
- Business ethics
- Project Management
- Distribution Strategies
- Managing supply and inventory
Here are some schools worth considering if you decide to get formally trained.
- Laramie County Community College in Cheyenne
- Eastern Wyoming College in Torrington
- Casper College in Casper
Career and Salary Expectations
Demand for freight brokers continues to increase as the industry evolves. Also, there is a positive job outlook for this career, irrespective of if you are starting a freight brokerage business or maintaining a current one.
The average Freight Broker salary in the United States is $52,660. Interestingly, you can earn around $44,504 a year and $3,709 a month working in Wyoming. There are possibilities that you will make up to $47,773 or more if you work in densely populated areas like Cheyenne.
Also, the amount you earn will not be determined only by your location. It is also a function of your education, certification, and experience, especially with a company. In other words, education and experience are added advantages.
Freight broker opportunities in Wyoming
Wyoming relies on railway and highway transportation carriers as a major chemical manufacturer for its exports. This is an opportunity for you to either carve a niche for yourself by processing the hauling of these products or looking into other available options.
Also, it would help if you considered cities with dense populations; these are the best places for freight brokers to work. Cities such as Laramie, Cheyenne, and Sheridan are good places to start as independent freight brokerages or freight brokers who work with freight brokering companies.
Regardless of how you choose to start your career, freight brokerage is an exciting path that will stay relevant to the U.S. economy now and in the future.