Allstate Insurance Company - Northeast Region - Industry Q & A
Industry Qa With James West Of Allstate
Provide an overview/ description of your industry.
It is a demand product; most states require you to have insurance on your home and car. It's recession resistant.
How has your industry changed in the last 10 years? 20 years?
The internet has made it easy to find an agent and get insurance. There are more insurance companies now than ever before.
What trends do you see in your industry over the next 5 years? Next 10 years?
Insurance may become mandatory in every state. Mandatory on every vehicle, mandatory on every home etc. I believe there will be more mergers and acquisitions with insurance carriers.
What is the biggest concern about your industry that a franchisee candidate should be aware of and investigate?
If states decide to regulate the insurance industry and limit the amount of premiums on consumers.
Why do you think your company stands out in the industry?
Our Brand
What makes your franchise/ business opportunity more attractive than your competitor?
You own the economic interest. You can own multiple locations. You can legacy your agency as well.
What's the strongest skill you require in a candidate?
Able to manage staff/ employees
Describe the working environment of your franchisees (indoors, home office, mobile, etc). Is your environment typical of other companies in your industry?
Branded Retail office space
Why has you're your company been successful?
Brand recognition, the support we give our agents and the compensation is best in class.
What advice would you give someone interested in buying a franchise in your industry?
Do your homework
How much experience in this industry should a franchisee candidate have should they consider buying a franchise in your industry?
You don't need any insurance experience
Give us an example of your ideal candidate
We're looking for franchise owners who are outgoing and personable. Have sales, marketing, and/or management experience, and who are results oriented. A person who can lead and manage team and who has the motivation to excel. You must have a minimum of $100k in liquid capital, and be ready to make a full-time commitment.