Do you want to start an insurance broker business by buying a franchise? If YES, here are 4 best insurance broker franchise opportunities for sale and their cost.
The United States of America has the largest insurance market in the world as indicated by the volume of premium payments made there. Statistics shows that in 2013 alone, out of the total sum of 4.640 trillion US dollars of gross premiums written on a global scale, 1.274 trillion US dollars which translate to 27 percent were actually written in the united states of America. This goes to show how big the insurance industry is in the United States of America.
In a report released by McKinsey & Company, it was estimated that the insurance industry in the United States incurs about 13 billion US dollars annually in unnecessary regulatory costs under the state – based regulatory system.
The process of obtaining an insurance license might not come easy, but this is depending on the part of the world you live in. Any applicant for insurance license is required to meet certain laid down criteria and sometimes it is the bureaucracy involved in the whole process that makes it difficult to obtain.
If you are interested in making money from this thriving industry by starting your own insurance business, you can go through the easy route by buying the franchise of a successful insurance brokerage agency. Here are some of the best insurance broker franchises in the United States of America that you can buy from.
4 Best Insurance Broker Franchise Opportunities for Sale and Their Cost
- Just Insurance Brokers
Just Insurance Brokers is a property and casualty insurance broker firm in the United States of America that was founded in 1993. They started franchising in 2014, about 5 years ago. They have their corporate head office at 1200 N.W. 78th Ave., #105 Doral, FL 33126.
Just Insurance Brokers offers in-house financing to cover only franchise fee. The company is seeking new franchise units only from investors within the state of Florida.
- Initial Investment – $85,550 – $159,100
- Initial Franchise Fee – $30,000 – $30,000
- Ongoing Royalty Fee – 15%
- Veteran Incentives – 10% off franchise fee
- Alliance Insurance Group
Alliance Insurance Group is a Managing General Agency (MGA), based in Golden, Colorado that offers extraordinary insurance business opportunities to independent agents and entrepreneurs. Alliance Insurance Group will help you get started in the insurance business and stay independent while significantly growing your income.
Alliance Insurance Group provides administrative, marketing and insurance agency management systems so you can stop pushing paper and get back to the business of selling insurance. They allow you to spend more time on things you enjoy and that drive more income into your insurance agency startup, like prospecting and serving your existing customers.
Alliance Insurance Group offers leading-edge insurance agency software to help you write more business and serve your customers better. Greater efficiencies and automation allow you to spend more time doing what you do best, and that is selling and generating income. You also benefit from the economies of scale as Alliance can purchase this technology and pass along the savings to you.
- Coversure Insurance Services
Coversure Insurance Services is a group of Independent Insurance Intermediaries with offices in locations throughout the united kingdom. Each office is owned and managed by a local franchise holder. If you are interested in starting an insurance broking business, then Coversure Insurance Services franchise might just be the right insurance agency for you.
If you are an existing broker and would like to know more about reducing your workload and increasing your income with Coversure, please visit their ‘Existing Broker’ pages.
- Brightway Insurance Agents
Brightway Agents’ goal is to ensure that every business partner with whom they partner with have the highest return on investment with the least amount of risk in achieving it. Brightway Agents outsell their counterparts 2-to-1. They build industry-leading processes, programs and tools to produce this outcome. Brightway Insurance Agents have 200 locations throughout the country today.
If you are interested in this franchise, it might interest you to know that no prior insurance experience is necessary; in fact, 6 out of 8 of their largest enterprises are owned by people with no prior insurance experience. You only need to be able to build a sales team as big as you’d like to help you grow fast, and become an Enterprise Owner over time, owning multiple locations.
You will receive up to 100 percent new business commission and 55 percent renewal business commission and also you will be able to leverage on industry – leading technology that produces efficient, business-building workflows and insights.
If you buy this franchise, you will be exposed to a comprehensive program that provides you with the knowledge, skills and behaviors that will set you up for success.