I am thinking about opening a State Farm or Allsate insurance agency @ a strip mall in California . . Any info would be helpfull. Thank you!
2007-02-26 10:49:45 · 0 answers · asked by Anonymous in Business & Finance ➔ Insurance
Depends - how long will it take you to put $200,000 of premium on the books? That's 2,000 auto policies, or 1,000 homeowners policies. If you can't sell that much in six months, you're not likely to be able to keep the doors open.
It's ALL about sales. FWIW, not many people "stop in" to an insurance agency to buy insurance. Very, very few sales are walk in sales - it's NOT like retail clothing. You'll get LOTS of people asking for quotes - ie, LOTS of work, but very, very few sales. MOST people have to pound the pavement and make cold calls to make the sales happen - and the first few years, expect to put in 80 - 100 hour workweeks.
If you're planning on sitting behind a desk at the mall and waiting for the business to come to you . . . it ain't gonna happen. You'll get all the dui's and demolition contractors that 1. can't get coverage elsewhere 2. will give you bum checks and 3. it's all going to be the junk business that State Farm and Allstate won't write, anyway.
2007-02-26 11:26:50 · answer #1 · answered by Anonymous 7 · 3⤊ 0⤋
Why is it that you are considering State Farm or Allstate?? I know from working for an Allstate agent just recently, that they require you to have at least $90k to even open an agency, and then the sales goals you have to make go by premium sold, and it is tough. My former boss opened hers, made her six month goal in four, then after a few more months, couldn't really sell anymore and had to sell the agency in less than a year! I don't know about State Farm though, but any agency takes a lot of work and networking to get and keep sales. I personally am starting an agency with Farmers insurance, our goals are policy goals, doesn't matter how much premium it is. Plus they help you out financially if you get to the full time level. Now is the best time for Farmers to start an agency, we are doing so many changes it is only getting better every year.
2007-02-27 03:42:29 · answer #2 · answered by daniellet_212 2 · 0⤊ 0⤋
This Site Might Help You.
RE:
How Hard Is It To Keep Open A State Farm Insurance Agency or Allstate Agency?
I am thinking about opening a State Farm or Allsate insurance agency @ a strip mall in California . . Any info would be helpfull. Thank you!
2015-08-24 07:50:40 · answer #3 · answered by Austina 1 · 0⤊ 0⤋
Allstate Insurance Franchise
2016-12-29 11:50:25 · answer #4 · answered by suzette 3 · 0⤊ 0⤋
State Farm Franchise
2016-09-30 08:43:25 · answer #5 · answered by ? 4 · 0⤊ 0⤋
No, I think the names State Farm and Allstate sell themselves. You would just need to advertise and make sure you're in an area where the services are needed.
2007-02-26 10:58:10 · answer #6 · answered by LittleFreedom 5 · 0⤊ 0⤋
very good question
2016-08-23 19:28:51 · answer #7 · answered by antonia 4 · 0⤊ 0⤋