- 30,540
He must've move Mikey. He's in spamming mode today.
Anyone Hold a Goosehead Franchise?
- Thread starter Exdpguy
- Start date
- 1,506
It looks like Big rock is a spin off of another agg….So a slip of a slit....?
This is from the website.....
Who owns my book of business?
As an associate agent-owner you have a 50% stake in the economic interest of the book of business you build from day one.
What are the startup costs?
None, if you are already licensed.
Do you offer training?
Yes. We will train you on our systems and proprietary practices. We will also send you through EZLynx University to get you a top to bottom look at your agency management/rating systems. Each carrier has invested millions of dollars into their own training programs. Once you start establishing relationships with carriers, in many cases we can arrange training at your office with a carrier marketing representative or through webinars to jump start your sales-only agency!
What will I need to get started?
Will need copies of your life, property and casualty insurance license(s).
Will I need a errors and omissions policy?
No. As an exclusive associate agent you are covered under Big Rock Insurance's errors and omissions policy.
Will my name appear on the declarations pages and billing documents?
No. All business you place with carriers will either have the name of Big Rock Insurance or our in-house brokerage partner, Rocky Mountain West Insurance on the declarations pages and billing documents.
Do I have the right to will/transfer/sell my share of the economic interest of the book of business?
Yes. The person must meet all licensing requirements and become an associate agent-owner before transferring of the economic interest of the book of business.
Can I hire staff?
No. There is a maximum of 1 person per associate agent-owner contract. The only exception is if you are a married couple. Both parties must have active insurance license(s) to participate in the sale of insurance.
Who handles the customer service and claims?
One of the greatest benefits of teaming up with Big Rock Insurance is that we handle all of the customer service and claims, so you can focus on selling.
Are there sales requirements?
There are no sale requirements with Big Rock Insurance.
What states is Big Rock Insurance currently accepting associate agents?
We are currently accepting associate agents from Arizona, California, Georgia, Michigan, Nevada, New Mexico, North Carolina, South Carolina, and Texas.
This is from the website.....
Who owns my book of business?
As an associate agent-owner you have a 50% stake in the economic interest of the book of business you build from day one.
What are the startup costs?
None, if you are already licensed.
Do you offer training?
Yes. We will train you on our systems and proprietary practices. We will also send you through EZLynx University to get you a top to bottom look at your agency management/rating systems. Each carrier has invested millions of dollars into their own training programs. Once you start establishing relationships with carriers, in many cases we can arrange training at your office with a carrier marketing representative or through webinars to jump start your sales-only agency!
What will I need to get started?
Will need copies of your life, property and casualty insurance license(s).
Will I need a errors and omissions policy?
No. As an exclusive associate agent you are covered under Big Rock Insurance's errors and omissions policy.
Will my name appear on the declarations pages and billing documents?
No. All business you place with carriers will either have the name of Big Rock Insurance or our in-house brokerage partner, Rocky Mountain West Insurance on the declarations pages and billing documents.
Do I have the right to will/transfer/sell my share of the economic interest of the book of business?
Yes. The person must meet all licensing requirements and become an associate agent-owner before transferring of the economic interest of the book of business.
Can I hire staff?
No. There is a maximum of 1 person per associate agent-owner contract. The only exception is if you are a married couple. Both parties must have active insurance license(s) to participate in the sale of insurance.
Who handles the customer service and claims?
One of the greatest benefits of teaming up with Big Rock Insurance is that we handle all of the customer service and claims, so you can focus on selling.
Are there sales requirements?
There are no sale requirements with Big Rock Insurance.
What states is Big Rock Insurance currently accepting associate agents?
We are currently accepting associate agents from Arizona, California, Georgia, Michigan, Nevada, New Mexico, North Carolina, South Carolina, and Texas.
- 1,506
John,
So it looks like you are a sub agency of Rocky mountain west (Trout is a great guy- I know him personally and he is wonderful). It looked like, on the surface you have lots of locations, but they all read your name.
So the slits and ownership are all contingent upon your other contract.
I got to say. I struggle with this, 100%. But Heaven bless you!
So it looks like you are a sub agency of Rocky mountain west (Trout is a great guy- I know him personally and he is wonderful). It looked like, on the surface you have lots of locations, but they all read your name.
So the slits and ownership are all contingent upon your other contract.
I got to say. I struggle with this, 100%. But Heaven bless you!
Woods Rider
Expert
- 22
I am looking at Goosehead and have spoken to two franchisees. It sounds like In addition to the upfront costs, there is a monthly fee of around $500 for E&O and "technology" in addition to renting an office.
I also learned that it still takes a lot of time to get appointments. One person I spoke with said he's been at it a year and is still not appointed with a number of carriers. I thought this is what you are paying for when you sign up.
I also learned that it still takes a lot of time to get appointments. One person I spoke with said he's been at it a year and is still not appointed with a number of carriers. I thought this is what you are paying for when you sign up.
- 2,379
Thanks for the post. Very interesting. I am already up and running, but I could not imagine myself being interested in this.
Major issues I noted:
- not being able to hire staff
- Comp Split is not good
- No Bonuses
- Them having any say on how I sell my agency
- Only 9 states
- Depending on them for E&O
- Lastly, not mentioned but I wonder about how "exclusive" you need to be with them.
- 1,506
I think some posts disappeared so the read is a bit messed up....But one needs to know what the first contract says before they get comfy with the second I suppose.
- 2,379
On mine? I just cut it off for brevity's sake on the quote.
I totally agree with you.
I totally agree with you.
TWFG has other costs you MUST create an office that can handle your service work. You give TWFG 20% for nothing. Also TWFG owns your book unless you are a franchise owner. You pay one way or the other.
TWFG has a system called EVO that tracks all isnurance sales, its a mess and slow. Its also been known to not pay an agent.....They wont buy your book back if you aork for a franchise. You get what you pay for trust me.
TWFG has a system called EVO that tracks all isnurance sales, its a mess and slow. Its also been known to not pay an agent.....They wont buy your book back if you aork for a franchise. You get what you pay for trust me.
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