The primary job of the insurance industry is to protect customers against the unpredictability of the future. The industry also serves the same purpose to business owners and investors, as it’s more or less considered a safe sector with slow, steady growth.
This type of business can be run from home and it allows an entrepreneur to enjoy a flexible schedule of work. It also doesn’t warrant any form of previous experience and much knowledge of the industry. Owing to that, anyone with business acumen and eagerness to start their own company can venture into the franchise segment of the insurance industry.
You will find a lot of insurance company franchises that serve small businesses and also provide them with tax and other financial support. If you have decided to join the market, here are top insurance franchise opportunities that offer a successful business plan, training, customized marketing materials, and technologies for facilitating workflows.
Best Insurance Franchise Opportunities
This is, without doubt, one of the fastest-growing general lines insurance agencies in the United States. They boast of always serving clients and their local communities by participating in educational activities and generating local awareness of what SUNUP can offer.
They also take pride in offering clients various options, especially since no one insurance company is the best option for everyone. They shop the market on behalf of their clients, so they don’t have to, and they work to find the best insurance coverage at the best possible price.
- Initial Investment: $10,175
- Liquid Cash Requirement: $10,000
- Total Investment: $10,175 – $17,550
Founded in 1980, Estrella Insurance has been providing customers top-notch services and a professional atmosphere for over 30 years. With over 100 locations in Florida, California, Arizona, and soon-to-be in Texas, they always strive to guarantee success for all their franchisees.
Note that when you join the Estrella family, you will be provided with an operations manual. Also, note that you will be able to leverage the expertise of successful franchisees and franchisors to help attain success.
- Initial investment: from $12,250
- Royalty Fees: 10-14%
Bright way Insurance
This company’s turnkey insurance agency franchise offering, in addition to the power of renewal-based income, make first-time agency ownership very enticing and easy for people who initially had no plans to venture into the insurance franchise segment.
From the very beginning, this company will help you put together a valid business plan with a focus on profitability. By leveraging the experiences of hundreds who have come before you, they will provide you with in-depth insights into managing your business and ensure that you can attain the greatest results.
- Initial investment: from $42,300
- Royalty Fees: to 45%
Opportunity Tax Service
Have in mind that Opportunity Tax and Insurance Service is not a typical tax franchise model. By leveraging their very vast experience and expertise in the tax industry, they have put together a revolutionary approach by adding insurance and ancillary products, creating a year-round revenue stream with built-in, cross-selling customers.
With OTIS, you’re in business for yourself, but not by yourself. Note that they offer a very intensive training program to outline every aspect of becoming a new franchisee.
- Initial Investment: $50,000
Allstate Insurance Company
Established in 1931, Allstate has been dedicated to protecting customers from life’s uncertainties and preparing them for the future. The Allstate Corporation is well renowned as one of the biggest publicly held personal lines property and casualty insurers in America, serving more than 16 million households nationwide. Allstate became a publicly traded company in 1993 and is listed on the New York Stock Exchange under the trading symbol ALL.
- Initial investment: from $50,000
- Royalty Fees: none
Established in 1928 by co-founders John C. Tyler and Thomas E, they are well respected as an American insurer group of automobiles, homes, and small businesses. Also, note that they provide other insurance and financial services products.
As a Farmers agency owner, franchisees will genuinely benefit from being associated with a Fortune 500 brand, have access to rewards for their service with an incentive bonus program just for veterans, and represent one of America’s most well-respected brands.
- Initial investment: From $50,000
- Royalty Fees: N/A
Just Insurance Brokers
This is a family-owned and operated insurance agency serving the state of Florida since 1993, representing the top insurance companies available in all areas. In 2014, they started expanding by offering Franchises to willing entrepreneurs.
Since then, they have successfully expanded into numerous locations to better serve the ever-growing Florida community. Just Insurance Brokers have also partnered with other carriers and brokers to offer a vast range of commercial and personal lines coverage.
- Initial Investment: $30,000
- Total Investment: $85,550
Note that this is an independent insurance agency servicing the states of Texas, California, Florida, Virginia, Illinois, Pennsylvania, and North Carolina.
According to their website, they take pride in offering the power of choice to their clients for their insurance needs. As a franchisee with this company, you will receive industry-leading technology, successful marketing tools, and a centralized back office to provide world-class services to your clients.
- Initial investment: from $41,500
- Royalty Fees: 20-50%
When you work with Pronto, you will be partnering with a well-known leader in non-standard insurance serving a Hispanic community that is projected to keep growing. By aligning its service to the Hispanic community, this company has created its own unique model different from other insurance companies.
According to reports, they currently have almost 300 retail locations across Texas, Florida, and California, the three states where more than half of the U.S. Hispanic population resides—with plenty of room to grow.
- Initial investment: from $33,775
- Royalty Fees: none
Fiesta Auto Insurance and Tax
Fiesta Auto Insurance has put together its two business models under one roof, inculcating tax service and offering numerous revenue streams while serving the needs of millions of American consumers.
Note that having access to this proven system coupled with access to a wide array of top non-standard insurance carriers in the nation, and every kind of tax service product, makes them different in the professional services industry. Fiesta offers very thorough classroom and in-store training to help franchisees start their journey with Fiesta.
- Initial investment: $67,050
- Royalty Fees: 15-25%