How Much Can I Earn?
Depends on if you choose to become a Freight Broker or an Agent.
Varies according to how many loads that you move.
How much the Shipper is willing to pay to have to load delivered.
How much the Carrier/Driver is willing to haul the load for.
Earnings Example:
Let's say a Shipper is willing to give to you a load and willing to pay you $5,000 for a load. You then locate a Carrier Company (Driver) to haul the Freight / Load for you for $4,500. As a Freight Broker your profit would be $500.
As an Agent you would split this profit. New Agent usually earns 50-60% of the profit. Some Freight Brokers may pay more according to any prior experience you may have in this industry. So, on this load example... you would have made a profit of $250 to $300.
And keep in mind as an Agent for a Freight Broker, you do not have to pay for the Freight Broker Authority, or a Freight Broker Bond / Trust of $75,000, or file the BOC3, or file for the UCR registrations. The Agent does not have to do accounts payable and receivables. (Note: That a Freight Broker is 100% liability to pay the Carrier companies, even if the Shipper does not pay them). So, keep in mind that this gives the Agent more time to move more loads which in the long run could make a larger profit.
KEEP IN MIND...
AGENT: Only needs a L.L.C. Limited Liability Corporation.
FREIGHT BROKER: Needs a L.L.C. or S Corporation. Needs to file for the Freight Broker Authority/License, have a $75,000 Bond or Trust, file for the BOC3, UCR and the Broker Pin#.
Our Recommendation
It's a good idea to start off as a Freight Broker Agent. Why... because this gives you the time to learn the ins and outs about this business before investing monies into becoming a Freight Broker. If you do decide, to become a Agent instead of a Freight Broker, we will supply you a list of Freight Brokers looking for Agents and better yet ... if you pass your final exam with 85% or more, we will personally refer you to a great Freight Broker to work for an independent agent. This list is also located in the "Students Password Protected Area" which is only for our students and has so much information that we share. There are so many tools, links, shipper leads, carrier leads, information that will help you in this business.