Brightway vs Goosehead - Franchise Agency Opportunities

[myfakename]

It's a matter of preference and life stages.

If you need a paycheck and/or there's no other path in, then that's a good way to go until some of the groups that require experience will let you in.

Tough to describe, but when you reach a certain point in life/career, you just need to be your own boss.

But why would you buy a job? Most independent 'round here don't have set hours for producers as long as you produce. And if you don't produce you wont be successful as an "franchise owner" either...

 

[andy_M]

But why would you buy a job?

Every business is a job, With franchises, you just have to sell a lot of burgers to get that McDonalds restaurant out of the red. Last I heard, the recipe for a great hamburger wasn't rocket science.

I used to own a porta potty company on the side. You'd see guys with $100k trucks and all the nice gear and they'd look kind annoyed when you pointed out how many cans they had to pump to pay for that nice Ford F550. All businesses have expenses, but a franchise fee is a lot of money keeping you from breaking even in the first year.

 

[shawnmwalker]

I will throw in here, there are other groups that have created the service model for less than 50% of the renewal income and are geniuses' by also offering them to stay in the service center agreement for periods of time so they can then opt out after that period.

We just happen to be that group! HAHAHAHA!

But seriously, All groups are not created equal. Not all groups have been around long enough to have this process dialed in. The natural next step for a successful Agency owner with 5m in WP is not aggregation. They fail too often and they fail their agents and their agents' families. Some have not been around long enough to have a concept of how they are failing their agents. I always say a group should provide the following:

1. Transparency
2. Carrier alignment (Access to the carriers they need access to so they can execute their business plan)- Access the right way.....
3. Training and support- because you got to get to the top of Everest and you need a few Sherpas!
4. A killer contract

Folks, I don't have much time on my hands, but when you have questions and I have time, I love this topic. Reach out...…

 

[BADTROUT]

They would be better keeping this trainwreck of a static a little more private. Embarrassingly awful.

 

[Magicmarker98]

Congrats on your decision. Best of luck to you in your new venture.

 

[BADTROUT]

Hey @johnkearnsagency congrats!

 

[shawnmwalker]

John,

If you could have had a Service Center do it for less than X% of your renewals and if you could not get locked into the Service center model for the duration of your contract, would that have attracted you?

 

[Toua]

You can't take it with you. You are captive to that franchise, even though they offer you 100+ carriers as an independent agent.

Superior Access you own the expirations and can move it, but with Brightway and Goosehead you can not. Being a franchise is like being a Farmers Agent.

Superior Access has been difficult to deal with. So slow and you do not have binding authority.

No binding authority kills the deal. Its like asking mommy for a cookie and waiting till she gets off the phone.

 

[TexCOIns]

Shawn,

No, having the carrier service center wouldn't of attracted me unless it was the only carrier I was dealing with. Having Brightway's service team handling all the servicing, claims, and annual review allows me to focus on growth of my agency/franchise. Additionally the 50% split on the renewal commission is much more than just handling my servicing needs. If that was the case I would of hired a CSR eventually like with my captive agency I owned and went completely IA on my own or thru a cluster or agency group. I wanted to follow a proven system that I can leverage and grow as fast as possible. Brightway seems to be the best solution for my needs.

John,

The service team at Brightway handles 100% of the service and retention or do they kick some back to you? Also how long before you own your book?

 

[Dreamiekid]

Update: I made a decision to go with Brightway Insurance here in the Carolinas.

Grats. So you put 25k down? And working from home? Or office front.