It may not be the first thing that comes to mind if you’re looking at business opportunities. Here we list six reasons why you should be looking at insurance agency ownership, particularly with Brightway.
1. Residual income
How many other business opportunities are out there where you continue to make money year-over-year on a single sales transaction? When you become a Brightway Agency Owner, your revenue increases year-over-year while your operating costs stay flat.
2. You’re part of a stable, multi-billion-dollar industry
Insurance isn’t going anywhere anytime soon. Everyone needs it whether the economy is up or down so its pretty much recession proof as well. The insurance industry employs nearly three million people and sales jobs are expected to grow over the course of the next decade due to their inherent personal interactive nature.
3. Comprehensive support
Sure, there are other insurance agency opportunities out there that are open to training people without prior insurance experience, but the fact is Brightway has a proven track record of success in this category.
The two largest Brightway locations are owned and operated by people with no prior insurance background. Half of all Brightway locations with books of business over $10 million*, are owned and operated by people with no prior insurance background and 67% of Brightway locations with books of business over $15 million*, are owned and operated by people with no prior insurance background.
Our team of training and onboarding experts have developed a program so well designed that it has helped make former bartenders, engineers, stockbrokers and restaurateurs insurance experts in their communities.
4. You truly can build a legacy
What sets Brightway apart from many other insurance agency opportunities is your ability to build a legacy. When you become a franchise partner with us, you are economically tied to your book of business and have many options available to you: free unlimited contract renewals, the ability to pass on or sell your agency or receive a guaranteed buy-out at your contract renewal.
5. Enjoy the lifestyle you’ve always envisioned for yourself
You want to own a profitable business so you can enjoy some of the finer things in life but not at the cost of losing out on time spent with your family. As a franchise partner with Brightway, you can enjoy both over time as we help you grow as fast as possible.
The top 25% of Brightway Agency Owners earn over $375,000 in pre-tax profit** after just five years in business. According to the U.S. Census Bureau, only 2.3%*** of the U.S. population earns $200,00 or more each year. As the owner of your business, you enjoy the flexibility of setting your schedule, not someone else.
6. Create career paths for your people
As the owner of a business, you have the unique opportunity to inspire your people to grow in their careers. Brightway Agency Owners have helped foster the growth and development of many talented sales agents who have gone on become their business partners, or even open their own agencies.
*Your results as a new franchisee may differ. There is no assurance that you will sell as much. This information can be found in Table 1 of Item 19 of Brightway Insurance Inc.’s Franchise Disclosure Document issued April 12, 2019, as amended, 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 the end of 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.
**The claim the top 25% of Brightway franchisees make an average of $375,000* year after five years in business and only 2.3% of the U.S. population earns $200,000* or more a year can be found in Table 3 of Item 19 of Brightway Insurance Inc.’s Franchise Disclosure Document issued April 12, 2019, as amended, which includes results for 61 franchisees during the 2018 year that had been open for five or more years as of the end of 2018. 7 of the 15 Top 25% franchisees (or 47%) exceeded the average pre-tax operating profit of $375,692. U.S. Census Bureau data source: 2013-2017 American Community Survey 5-Year Estimates.
***U.S. Census Bureau data source: 2013-2017 American Community Survey 5-Year Estimates.