[CHECKLIST] How to Become a Freight Broker
Channel: Lance Surety Bond Associates, Inc.
Date: 2021-05-31

Source: https://bit.ly/3wtV3pY

Transcript:
In this video we will simplify and guide you through the entire process of becoming a freight broker, but you can always refer back to our guide for more detailed information on every step of the process: https://bit.ly/3L2BCsq

1. The first step is to prepare for your freight brokering job by having some experience in the transportation industry, or attend a Freight Broker training school to develop the necessary skills in order to help you succeed. 
2. Next, you will need to choose a company name and register your business with the US Patent and Trade Office, and select the type of business entity you would like to register.
3. You will also need to find the right carriers that work in the same field of operations that you have chosen for your business.
4. Afterwards, you will need to get your USDOT number which will help you apply for your MC number.
5. Once you have your MC and USDOT numbers, you will need to apply for a BMC-84 freight broker bond which is currently $75,000. 
The cost you pay is only a small percentage of the full bond amount, and is also known as your surety bond premium. With a good credit score, you can expect to pay around $1,500 to $3,800. The stronger your financials are, the lower your bond cost will be.
This guarantees that you will follow all applicable rules and regulations in the freight broker industry, and will also act as an additional line of credit for your business.
6. With your surety bond and MC number in hand, you will also need to acquire general liability insurance for every state that you would like to conduct business in. 
7. After that, you can designate process agents in those specific states through a BOC-3 form, and begin setting up your physical office, whether that is in your home, or in an office building.
8. After you have set up your office, and met all the licensings and business requirements from the FMCSA, your final step is to obtain some adequate operational capital and market your new business accordingly throughout your area of operations.

We hope this freight broker checklist has been helpful for you, and you can always apply for the best freight broker bond rates with Lance Surety Bonds today! https://bit.ly/3upY601

Additional resources:
1. The Complete Compliance Guide for Freight Brokers: https://bit.ly/3L2BCsq
2. How to Become a Freight Broker in 2021: Your Ultimate Guide: https://bit.ly/3wtV3pY
3. Complete Guide to Bonding for Freight Brokers: https://bit.ly/3L6hq8Z
4. Freight Broker Bonds: The Difference BMC-84 and BMC-85: https://bit.ly/3NdnzlQ
5. $75,000 Freight Broker Bond Application. Get a FREE quote: https://bit.ly/3upY601
6. The Ultimate Freight Broker Bond Renewal Guide: https://bit.ly/3wwcSov
7. How To Be A Successful Freight Broker [Infographic]: https://bit.ly/3N85buu