The Pelican State’s business environment is great for franchise opportunities — particularly in the insurance industry. Find out what being a franchisee is all about, what makes insurance and this state particularly primed for success, and some of the key franchise opportunities in Louisiana.
What Is a Business Franchise?
A franchise operator buys the rights to do business as an established and (hopefully) successful brand. Some of the more common franchises are in restaurants and fast foods, hospitality, convenience stores, and a wide range of service businesses.
You’ll recognize many of these names — Burger King, Taco Bell, The UPS Store, Great Clips, Hampton by Hilton — and the list goes on and on and on.
Clients or customers patronize a franchise business because they already know and trust that brand. They’ve seen that familiar sign and corporate colors before, many times. If they always stop by the business’s Shreveport locations, they trust that yours in New Orleans will be similarly worthy of their business.
Many patrons don’t even know that they are at a private company when they’re doing business with a franchise operation. They assume that they’re being served by the same large corporation that they’ve long known by brand name and signage.
Pros and Cons of Investing in Louisiana Franchise Opportunities
As a Louisiana entrepreneur, perhaps the leading advantage of becoming a franchisee is that you get to adopt a brand name known and trusted by most of your customers. You could do business as ABC Burgers or XYZ Motel — or own a McDonald’s or a Holiday Inn Express franchise. Which brand names do you think would draw the most patrons?
Franchise operators can also profit by avoiding some of the mistakes that the now-successful franchisor might have made in their early days. You’ll be trained in how to operate your business and take full and profitable advantage of the franchisor’s name, logo, culture, reputation, and tested business procedures and processes.
A major drawback can be the cost. Depending on the particular franchisor and the business sector you choose, your startup costs could be quite high. You might have to pay to have a location built, converted, or renovated. Signage, equipment, supplies, inventory, and employee costs could also be among your initial and ongoing capital expenditures.
Consider, for instance, having to fully stock a store and backroom in a new establishment and hire a team of full- and part-time employees before you even open your doors.
Another possible disadvantage of franchise ownership is that you could be associated with the franchisor if it delivers poor customer service or otherwise earns a tarnished reputation.
Why Franchise Opportunities in Louisiana Are So Fertile
If you live and do business in this state, you’ve got more than a few things going for you. Louisiana is known as a low-regulation state, which encourages entrepreneurs to undertake business opportunities of all kinds.
You’ll also find strong consumer markets here, with at least five major metropolitan areas: New Orleans, Baton Rouge, Shreveport, Metairie, and Lafayette. But even small towns are fertile grounds for well-run franchise operations.
In short, Louisiana residents all over the state are eager to do business with familiar and respected brands in a multitude of sectors.
Key Advantages to Operating an Insurance Franchise in Louisiana
Remember what you learned about what a steep investment owning a franchise operation can be? You’d better have a nest egg, because you might have to spend thousands and thousands of dollars upfront for your building and signage, equipment, inventory, and all the costs associated with a workforce, just for starters.
Scratch most of those stressful startup costs if you invest in an insurance franchise in Louisiana. The largest investment and most valuable asset in this business sector is… you.
It doesn’t take much more than a phone, website, business cards, and, again… you… to operate a successful insurance franchise in the Pelican State. You can reduce overhead by operating as your sole employee as long as the franchisor has the personnel and the wisdom to support your efforts. Only hire employees, if at all, once you’ve grown too large to carry on alone.
In short, an insurance franchise is easy to operate as a first-time business owner. It’s no wonder that top insurance brands, including State Farm, Freeway Insurance, GEICO, and USAA Liberty Mutual, offer motivated entrepreneurs franchising opportunities in this state.
Unlike fast food or house cleaning services, insurance is a product that everyone needs and must have. Furthermore, the timeline for opening an insurance franchise can be shorter than that of other businesses.
Think about auto insurance for a moment. It’s a mandatory product for motorists in Louisiana, as it is for those in virtually every state in the union. If you want to see your audience as an auto insurance agent in New Orleans, Shreveport, or Lake Charles, just look out your window. Or get on the nearest residential street or congested city highway. Everyone you see behind the wheel of a car or truck is a potential customer.
And it won’t cost you a lot of startup capital to reach your large and widespread customer base. If you’re not currently licensed to sell auto insurance in Louisiana, go with a franchisor with an excellent reputation and strong brand recognition that offers training and will help get you licensed.
Franchise Opportunities in Louisiana Don’t Get Better Than Freeway Insurance
As a Freeway Insurance operator, you’ll be your own boss. Your startup costs will be minimal, but the potential is limitless.
You’re in business for yourself, but you’ll have the top-tier training and day-to-day support and guidance of one of the largest and most respected personal lines brands in the nation. Your customers and prospects already know and trust us.
As an independent auto insurance agent within the Freeway family, you’ll also gain access to multiple major national and regional insurance carriers. That’s a powerful advantage. It means you will always have a comprehensive inventory of the products that your customers want and need.
Find out how to build a financially rewarding insurance franchise of your own.
Contact us online or by calling (877) 822-3024 to speak to a representative today.
