Brightway has grown to be one of the largest Personal Lines agencies in the U.S. with 207 locations in 22 states and over $672 million in annualized written premium. We've grown $25+ million agencies in a little more than 10 years, and one in every four of our agencies is larger than $5 million today.*
If you’re interested in owning an insurance agency you likely know the how many options there are out there and navigating what each offers can be an onerous task and it's easy to get some of the facts confused. Before making any decisions it's important to read the fine print of a contract.
Read on to get some of the facts about franchising with Brightway.
1. Fact: Brightway offers a path to success for everyone, including a lower-cost franchise option
Brightway introduced its Office Agent model last year as a flexible, lower-cost option for people with insurance sales experience who wanted to become business owners with the recognition and support of the Brightway brand. Understanding that the COVID-19 pandemic has many people rethinking their careers and futures, Brigthway recently announced the removal of the insurance sales experience requirement with its Office Agent model so that more people can realize their dreams of business ownership with Brightway. A Brightway Franchise Consultant can help you decide which model is right for you.
2. Fact: Brightway Agency Owners have equity in their book of business
Brightway Agency Owner's are economically tied to their books of business. While you get unlimited renewals of your contract at no charge, you can also choose to sell your book at any time, or request a guaranteed buyout at the time of any renewal (every five years). You also have the option to pass on your business to a friend or loved one.
3. Fact: You do not need prior insurance sales experience to franchise with Brightway
The two largest Brightway locations and half of all Brightway locations with books of business over *$10 million are owned and operated by people with no prior insurance background.
How is this possible? Brightway provides you with the tools, systems and processes you need – regardless of your professional background – to grow your sales team and build your own personal wealth.
4. Fact: There are no sales quotas in the Brightway system and no agency fees
Unlike several other insurance agencies, Brightway does not require its Agency Owners to sell a certain amount of policies and we will never charge customers an agency fee.
5. Fact: Brightway Agency Owners receive industry-leading marketing support, driving business to their doors
As a Brightway Agency Owner, you have access to world-class marketing support. Our comprehensive Marketing Resource Center is stocked with personalized, print-ready marketing materials. Our team of experts are here to help you market your agency by providing you with custom advertising materials, call and email scripting, referral sources, cross-sell communications to your customers, search engine optimization, networking tips, and much more. We even partner with a data management company to manage your local online listings including your Facebook business page where we will post engaging, relevant content on your behalf.
6. Fact: Brightway's customer service is award-winning
The Business Intelligence Group recently named Brightway Insurance a winner of the 2020 Excellence in Customer Service Award. Brightway was the only Personal Lines insurance agency to make the list of companies across the world recognized for innovation and outstanding service.
7. Fact: Brightway Agency Owners can open up a second retail location with no franchise fee.
Brightway’s franchise agreement includes the option for qualified Retail Agency Owners to acquire an additional Brightway Location with no franchise fee, allowing you to grow your business into an Enterprise. Two-thirds of Brightway franchisees said they are considering adding additional Brightway locations to their enterprises in a recent survey, including one in four who say they do plan to expand with Brightway.
Your results as a new franchisee may differ. There is no assurance that you will sell as much.
The claim one in four Brightway Agency Owners have books of business over $5 million can be found in Table 1 of Item 19 of Brightway's Franchise Disclosure Document issued April 15, 2020. The information presented in Table 1 shows the Annualized Premium of the 162 AAOs operating the 177 Brightway Locations for the 2019 calendar year. The 177 Brightway Locations in Table 1 were open for more than twelve months as of December 31, 2019.
The claim half of all Brightway locations with Books of Business over $10 million, are owned and operated by people with no prior insurance background can be found in Table 1 of Item 19 of Brightway Insurance Inc.’s Franchise Disclosure Document issued April 12, 2019, which shows the Annualized Premium of the 142 Included Locations for the 2018 calendar year. The 142 Included Locations in Table 1 were open for more than 12 months as of December, 31, 2018. This Table provides a snapshot of the size of the book of business associated with each of the Included Locations, which is a commonly-referenced metric used in the insurance industry to determine agency size.