You\u2019ve been toiling away at a 9-to-5 job for several years, answering to a boss who offers little to no promise of a promotion let alone professional growth.<\/p>\n\n\n\n
These limitations make striking out on your own more appealing with each passing day. You\u2019re confident you can do it for several reasons \u2014 you\u2019ve saved up enough seed money to start, you\u2019ve got contacts in the insurance industry to help, and you\u2019ve got the hustle and grit to get a new venture off the ground.<\/p>\n\n\n\n
The question now is how<\/em> do you want to start? Should you launch a new insurance agency as a startup or invest in a franchise with a reputable, established company, like Freeway Insurance<\/a>?<\/p>\n\n\n\n Let\u2019s take a look at both options to help you determine which one might work best for you.<\/p>\n\n\n\n Striking it out on your own can be liberating, but it also requires a lot of clarity, capital, and decisive action. Here\u2019s a look at some of the pros and cons<\/a> of opening a new insurance agency.<\/p>\n\n\n\n Opening a new insurance agency as a startup gives you the creative license you\u2019ve been dreaming about. You can name the agency whatever you like, decide what products you\u2019ll offer, determine who your target market will be, and develop a marketing and advertising campaign that\u2019s unique to your agency\u2019s brand.<\/p>\n\n\n\n Launching your insurance agency gives you the chance to start on a clean slate with nowhere to go but up as you build the foundation of your new venture.<\/p>\n\n\n\n While coming up with creative slogans and innovative marketing campaigns is an advantage of launching a new insurance agency, developing a customer base is going to take time.<\/p>\n\n\n\n Why?<\/p>\n\n\n\n Because you\u2019re likely to be going up against a slew of rival agencies \u2014 local, regional, and national \u2014 that already have an established presence in your community. They have established a loyal customer base, and a reach that\u2019s broader than yours.<\/p>\n\n\n\n Therefore, you don\u2019t want to go into this new venture expecting overnight sensation. Success takes time.<\/p>\n\n\n\n When you open a startup insurance agency, you\u2019ll have all the freedom and flexibility you need to call the shots and make business decisions that shape your venture. You can choose the insurance products you\u2019ll offer, determine what services your staff will promote, and seek out the growth opportunities that you feel will help your agency grow.<\/p>\n\n\n\n Striking it out on your own means you\u2019ll be shouldering all the risks and costs involved in launching your new insurance agency.<\/p>\n\n\n\n The office location you pick might prove to be a dud, barely drawing any foot traffic despite the hefty amount of rent you pay for space. A competing insurer \u2014 say, a franchise with brand name recognition \u2014 might also move into the neighborhood and successfully lure your customers, despite all the money you\u2019ve invested in advertising and marketing.<\/p>\n\n\n\n Unlike a startup, which may only cost a small capital investment to launch, a brand-name insurance franchise calls for an initial investment and additional fees that can cost thousands of dollars. Despite the costs, a franchise brings opportunities that a startup lacks.<\/p>\n\n\n\n Now that we\u2019ve discussed the pros and cons of opening a new insurance agency, let\u2019s look at the pros and cons of launching a brand-name insurance franchise.<\/p>\n\n\n\n Because all insurance franchises operate under a proven business model, a franchisee\u2019s main responsibility is making sure daily branch office operations run smoothly. They also receive ongoing training on insurance trends, the different products and services the company is offering customers, marketing initiatives, and other aspects of business management.<\/p>\n\n\n\n At Freeway Insurance<\/a>, our franchisees benefit from our successful business model \u2014 one that\u2019s based on more than 30 years of experience helping drivers, boaters, and property owners get the insurance they need. The ongoing support we offer our franchisees shapes their success.<\/p>\n\n\n\n When you launch a franchise with an established insurance company, like Freeway, you\u2019ll be relying on years of brand-name recognition to draw new customers in \u2014 and with Freeway, that\u2019s one of the best strategies you can bank on.<\/p>\n\n\n\n Because we\u2019ve been around for more than three decades, we\u2019ve developed a loyal customer base that consists of drivers and property owners who trust our products and services. We have a broader reach<\/a> than a startup and as a franchisee, your branch office will extend these same products and services to a vast number of customers in your local community.<\/p>\n\n\n\n For some people, the biggest drawback of franchising is the limitation of the freedom and flexibility it brings. While a franchising agreement does limit your freedom in certain ways, for example- the products you offer, the services you provide, and the look of your branch office, you are still free to manage your business as you see best.<\/p>\n\n\n\n If you\u2019re still not sure whether opening a new agency or launching an insurance franchise might be the best decision for you, here are three questions that might help you gain some perspective.<\/p>\n\n\n\n A Freeway Insurance franchise puts you in the driver\u2019s seat<\/a> of your professional future, helping you build a customer-focused business that rewards hard work and dedication. To learn more about our franchising opportunities, contact us at (877) 822-3024<\/span><\/a> or contact@freewayfranchise.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" You\u2019ve been toiling away at a 9-to-5 job for several years, answering to a boss who offers little to no promise of a promotion let alone professional growth. These limitations make striking out on your own more appealing with each passing day. You\u2019re confident you can do it for several reasons \u2014 you\u2019ve saved up […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_lock_modified_date":false,"inline_featured_image":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-59","post","type-post","status-publish","format-standard","hentry","category-general"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/posts\/59"}],"collection":[{"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/comments?post=59"}],"version-history":[{"count":14,"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/posts\/59\/revisions"}],"predecessor-version":[{"id":534,"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/posts\/59\/revisions\/534"}],"wp:attachment":[{"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/media?parent=59"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/categories?post=59"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.freewayfranchise.com\/blog\/wp-json\/wp\/v2\/tags?post=59"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Pros and Cons of Opening a New Insurance Agency<\/h2>\n\n\n\n
Pro: Creativity and Innovation<\/h3>\n\n\n\n
Con: Building a Customer Base Is Going To Take Time<\/h3>\n\n\n\n
Pro: Freedom, Flexibility, and Growth Opportunities<\/h3>\n\n\n\n
Con: Higher Risks and Higher Costs<\/h3>\n\n\n\n
The Advantages and Disadvantages of Launching a Brand-Name Insurance Franchise<\/h2>\n\n\n\n
Pro: A Higher Success Rate<\/h3>\n\n\n\n
Pro: A Broader Reach<\/h3>\n\n\n\n
Con: Limits to Freedom and Flexibility<\/h3>\n\n\n\n
How To Decide Which Option Is Best For You<\/h2>\n\n\n\n
Consider Joining the #1 Team in the Industry<\/h2>\n\n\n\n