If you want to be an entrepreneur in Tennessee but aren’t sure where to start, becoming a franchisee can help you launch your business while receiving plenty of guidance. In particular, insurance franchises allow you to get started in a stable sector selling products that help protect valuable assets. By finding an insurance franchise for sale in Tennessee, you can take advantage of the state’s prime conditions for new business owners, all while supporting your community with a wide selection of quality products.
Get started by learning about the benefits of purchasing a franchise in Tennessee and exploring some of the area’s most successful options.
Why Start an Insurance Franchise in Tennessee?
Tennesee offers ideal conditions for entrepreneurs, starting with its affordability. It boasts a low cost of living, particularly for housing, making it easier for aspiring business owners to afford real estate for their franchise storefronts. Taxes in the state are also business-friendly, offering a range of credits and discounts for business-related expenses.
Tennessee is also home to both small towns and major metropolitan areas, giving you the opportunity to find the right market for your goals. A quality franchisor will also help you find market-ready territories in Tennessee, ensuring you have the best chance at capturing marketing share in your area. Plus, Tennessee law requires drivers to have car insurance, putting this product in high demand.
Top Insurance Franchise Opportunities in Tennessee
There are several Tennessee franchise opportunities that can empower you to start a thriving business. But because you’re responsible for the success of your branch, it’s important to pick a trusted partner to support your success. Here are a few successful franchises for sale in Tennessee:
1. Brightway Insurance
Established in 2008, Brightway now has hundreds of locations across the United States. Brightway focuses on property and vehicle coverage, but they also offer access to a range of products, policies, and providers.
Brightway is known for its affordable, flexible startup costs, low initial investment, and potential in-house financing. The company offers three different models for franchisees, allowing them to pick the option that works for their goals. Aspiring franchisees can choose between the small agency model, which has a lower franchise fee, and the retail model, which is more expensive but offers much higher policy commissions.
2. Farmers Insurance
Farmers has been in business for over 90 years and services millions of customers, making it one of the largest insurance companies in the United States. As a Fortune 500 brand, they have national name recognition to support the success of your business. They also have opportunities throughout several Tennessee cities, giving you the opportunity to choose the best location for your business.
Farmers has a minimum investment requirement of $50,000, which you can apply to a few different startup options. Once they become licensed to sell insurance, potential franchisees can launch an agency from scratch or take over an existing agency. During the training process, franchisees work with established insurance professionals to receive business coaching and continue their professional development.
3. Goosehead Insurance
Goosehead offers convenient, affordable insurance policies and bundles in 43 states. This includes over a dozen locations in Tennessee, establishing the brand’s name in the local community.
All Goosehead franchisees go through a two-week training program to teach you the basics, and you can also take additional courses on sales and business management. If you don’t already have your license, Goosehead provides support to help you understand the essentials of getting licenses. Once you’re ready to start your branch, the initial investment ranges from $25,000 to $60,000, with options for internal financing.
4. Freeway Insurance
Freeway is a thriving national franchise with over 500 active offices. They have a proven business model, which includes thorough market research and access to comprehensive training. Freeway’s onboarding program helps franchisees learn about the industry and gain valuable on-the-job training, empowering them to overcome obstacles and reach new customers. When operating your branch, you can reference their massive library of resources to further your expertise and overcome any business challenge.
Freeway already has multiple thriving branches in Tennessee — and that’s just the beginning. The Freeway team has researched and identified multiple franchise-ready markets across Tennessee, giving you the opportunity to secure the optimal territory for your business. This helps you benefit from Freeway’s existing positive reputation in the state without having to worry about competing with other franchisees. They also provide financing support and assistance when selecting your retail site and setting up your storefront.
Picking the Right Insurance Agency Franchise in Tennessee
To figure out which franchise opportunity in Tennessee is right for you, carefully assess your business goals and the franchisor’s operating practices. Whether you’re a first-time business owner or an experienced entrepreneur, having the right resources from the franchisor can make a major impact on the success of your business. Here are a few tips for strategically choosing a franchise to work with:
- Support and training: Look for a franchisor that offers extensive training in their business model and provides you with professional guidance throughout the setup of your branch.
- Marketing investment: One of the main reasons to join a franchise is the ability to join a well-known brand. Quality franchisors like Freeway invest in marketing and advertising to drive business to franchisees.
- Quality products: As a business owner, you likely want to work with products that you personally support. Choose a franchise that offers insurance plans from a wide variety of carriers.
Freeway Insurance provides comprehensive support, from securing funding for your branch to implementing your business plan. And once you’ve established your branch, you can benefit from their ongoing training on how to market your branch and grow your audience.
Taking Over Tennessee With the Right Franchise
Ready to build a thriving insurance franchise in Tennessee? Freeway Franchise is equipped to support you every step of the way. Our established reputation, thorough onboarding process, and unparalleled franchisee support make Freeway the clear choice.
Reach out through our website or call (877) 822-3024 to learn more.
