Freight Brokers by the Numbers: Helping You Decide If a Future in Freight Is Right for You
Moving goods from one place to another is key when it comes to keeping the American economy afloat. Since manufacturers and consumers are often located miles apart, they need middlemen to help bring them together so commerce can take place. That's where freight agents come into play. These professionals are responsible for matching transportation specialists with those companies who need shipping; and they receive a commission for their efforts.
Here are some statistics that might help you decide if investing in freight broker training is worth your while.
1. Truckers are in high demand.
Experts estimate that 82% of the goods sold commercially in the United States will be transported by truck at some point during the transportation cycle. This means that there is no shortage of work for truckers. With more work than they can handle, few truckers want to take the time to establish working relationships with manufacturers.
As a freight broker, you can fill this niche. Not only will you be making a sizable profit, but the freight broker training you invest in will allow you to provide a valuable service to both truckers and manufacturers in the future.
2. The trucking industry is growing.
In a time where jobs are becoming scarce and economic stability is uncertain in many industries, the trucking industry provides a welcome reprieve. The American Trucking Association predicts that revenue in the trucking industry will increase by 66% from now until the year 2022.
Investing in freight broker training will allow you to snag a portion of these proceeds for yourself. Skilled freight brokers provide an invaluable service by helping truckers find loads to fill their trailers. Working as a freight broker will allow you to be part of generating the growth that will fuel the transportation industry in the future.
3. The competition among freight brokers is not as stiff as the competition in other industries.
If you take the time to invest in the right training, your chances of becoming a successful freight broker are high. In 2012, President Obama signed the Moving Ahead for Progress in the 21st Century Act into law. This piece of legislation requires, among other things, that freight brokers maintain a $75,000 surety bond to protect the financial interests of those they do business with.
Many brokers chose not to renew their licenses in light of this new requirement, meaning that there are fewer brokers competing for business in transportation industry today. You can use this lack of competition to your advantage by investing in freight broker training and starting your own business in the near future.
Becoming a freight broker is a great way to take advantage of the profits generated by the transportation industry each year, without having to travel far from home. Freight broker training can help you prepare for a future in the transportation industry.