Insurance Company Franchise Opportunities
In 2015, there were about 1.07 million insurance agents, brokers and service employees in the U.S.
The annual revenue of insurance brokers and agencies in the U.S. was about $135 billion in 2014.
The job growth outlook for insurance agents from 2016 - 2026 is 10%, faster than average in the U.S.
In 2016, the median pay for an insurance agent was $49,990 per year.
Types of Insurance Company Franchises
There are multiple opportunities within the insurance industry. For instance, you may choose to offer standard lines of insurance (also known as an admitted carrier), which requires a license for the state you are in to operate and sell specific lines of insurance. Another option is an excess line insurance company. Sometimes called a surplus lines company, this type of insurance is focused on high-risk groups. Insurance that is geared to a specific industry or group of individuals is known as captive insurance and is another area to consider.
Why Consider an Insurance Agency?
Opening your own insurance franchise can be a worthwhile business venture even for someone without a background in insurance. The franchisor is there to help with marketing and background guidance, as well as carrier selection, while you focus on interacting with and selling to your clients. An insurance franchise provides a solid and established business with great growth potential for a motivated salesperson. How big you grow is up to you and the effort you want to put into increasing your franchise.
Explore a recession-proof franchise with the unique benefit of a residual income stream. Brightway produces winning outcomes for franchisees and their customers by offering access to customized insurance solutions from a…