Frequently Asked Questions
Getting started
Can I convert my agency(ies) in the future?
Office Agency franchise owners who have paid their franchise fee in full may convert to our Retail Agency model by paying a fee of $20,000 or you may choose to finance the fee through Brightway. All franchise owners must meet our then current operational and performance criteria to convert to a different model. Your Brightway Franchise Consultant will go over more details on our financing options with you.
What are the staffing requirements for each of your models?
For our Office Agency model, there is no hiring requirement. Our Retail Agency model requires a minimum staff of three.
What is the contract length and what are my options if I want to retire?
Our contract length is five years with the opportunity to renew for an unlimited number of five-year terms at no cost. You may also sell or gift your franchise at any point in time, pending approval from Brightway. At every renewal term, or every five years, you may also take a guaranteed buyout from Brightway.
Do you offer a multi-unit program?
Yes, by purchasing a Retail Agency or Office Agency and meeting certain qualifications, you automatically have the right to open one (1) additional Brightway Location of the same type without payment of any initial fee associated with the additional Franchise Agreement.
How long will it take to open my agency?
We estimate that it will take approximately 60-120 days from the date you sign your Franchise Agreement to open your Brightway Location.
What’s the difference between your Office Agency and Retail Agency models other than the commission structure and staffing requirements?
Our Retail Agency model requires you to operate your business in a retail space with some exterior signage while our Office Agency model requires you to operate in a professional office space with no signage requirements. A typical Retail Agency will occupy approximately 900 to 1,300 square feet of retail space and, most frequently, are in strip malls or similar buildings, but may be a free-standing building. Our Retail Agency model also gives you exclusive access to our Horizons bonus commissions program. A Brightway Franchise Sales Representative can share more details with you about this lucrative program. A typical Office Agency will occupy approximately 100 to 600 square feet of professional office space.
Can you describe the training I will receive?
From the moment you sign your Franchise Agreement, our Agency Growth & Development team will begin your customized training process. The first step is a Welcome Webinar during which you’ll learn what to expect. All Training is provided either through our Brightway University Online or virtually, saving you time and expense and getting your operation off the ground as quickly as possible.
If I don’t have insurance experience, can I still run my operation, or do I have to hire someone who does?
Each Brightway location is required to have a Designated Agency Principal (DAP) to run the day-to-day operations of the business. The DAP must have P&C insurance experience. The DAP may be you or you may hire someone else. All DAPs must be properly licensed, complete all required training and be approved in writing by us.
Are there limitations on where I can open my Brightway location?
Yes, there are limitations in certain markets where there are existing Brightway locations. Our Onboarding Team will work with you in selecting the best location for your office.
What products will I be able to sell?
Products you'll be able to sell include: - Property insurance (Home, Flood, Renters, Condo, Personal Articles) - Vehicle insurance (Auto, RV, Motorcycle, Boat) - Life, Umbrella and Business insurance
I’m a veteran, do you offer a discount?
Thank you for your service. And, yes, as a veteran you will enjoy a 10% discount off the franchise fee paid upon signing.