Insurance Agency
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!
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.
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