- Thread starter
- #11
Weedlebug
Expert
- 27
I agree, just gotta find that best group to join....
Captive to Independent....
- Thread starter Weedlebug
- Start date
- 5,285
Make sure you are interviewing them more than they are interviewing you.
Check their Yelp! reviews. Usually a business that has happy customers is a well run business with happy employees. This is experience from 17 years of dealing with business owners.
Before you take a position there, spend a day "hanging out and shadowing the business". This is not a common move, but any business owner with half a brain will see that you are serious. If they don't want you to do that, then they aren't taking you seriously as a long term candidate or have something to hide. If they "don't have the time" then they "won't have the time" to train you either.
Make sure you get a written contract before you start. This is a long term play.
Check their Yelp! reviews. Usually a business that has happy customers is a well run business with happy employees. This is experience from 17 years of dealing with business owners.
Before you take a position there, spend a day "hanging out and shadowing the business". This is not a common move, but any business owner with half a brain will see that you are serious. If they don't want you to do that, then they aren't taking you seriously as a long term candidate or have something to hide. If they "don't have the time" then they "won't have the time" to train you either.
Make sure you get a written contract before you start. This is a long term play.
- 783
Wanting, no needing, to break away from my Captive agent to become an Independent agent. I would like input on groups to partners with: clusters, MMA's, GA's.....
I have 10 years in P&C with some life. I have a direct market that I have never tapped into with a great referral stream. So I would want as much access to the carriers as I can get, Direct Access. I understand that is not possible for some companies.
I know you can not share the contract details, but how about the good, bad and ugly.
I am looking for a partnership with comes with benefits...and training support...
Lets chat how you'll did it and what you would recommend....
I'm with Mark on this - look to working for an Indy shop, not joining a group. A larger Indy shop will have benefits, training a support, and pay you a generous commission %, and you have no risk, except to learn and sell. 60/40 - 50/50 - 70/30 are some common splits or so depending on the benefits offerings. If you dead set on having your own agency, structure a buyout agreement with them.
Groups/clusters/aggregators will take a big slice of your commission and offer no benefits or training - your suppose to know this by now. Your on your own for overhead. Many of those contracts are super expensive to get out of.
Good luck to you!
- 694
A lot of big names in Cali, learn the best practices from them. You will make connections and learn the market. Chances are you will think completely different at that point.
Brown & Brown, Heffernan, Word & Brown, Alliant, Hub International, Leavitt Group are just a few that come to mind, the list just goes on and on..
Brown & Brown, Heffernan, Word & Brown, Alliant, Hub International, Leavitt Group are just a few that come to mind, the list just goes on and on..
- 5,285
Yeah, there are advantages and disadvantages to both small and large agencies.
- Thread starter
- #16
Weedlebug
Expert
- 27
just like anything else one does.
Mark, What made you lean more towards commercial the P&C.
Seems to me that the agency's don't look for independent agents
The adventure continues...
- 5,285
Huh? When I first went indi and then when I moved, each time, I got up front offers from almost every agency I contacted. Something isn't matching here.
- Thread starter
- #18
Weedlebug
Expert
- 27
I haven't pursued any agency's, I was looking into clusters.
Working for a the captive agent, they want to keep the blinders on you and wont let you grow.
Working for a the captive agent, they want to keep the blinders on you and wont let you grow.
- 5,285
Uh, yeah, I don't know about getting set up with a cluster. Working at an agency would be better for lots of reasons. For your situation, frankly, I see mostly advantages for going agency.
Why commercial? Bigger money, less competition, better retention, easier to get referrals. Basically every reason.
Why commercial? Bigger money, less competition, better retention, easier to get referrals. Basically every reason.
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- 1,481
Going Indy and owning your own Agency is NOT for everyone. It takes a lot of effort. Most don't realize. It takes a financial runway to get up and running, many don't have.
Working for an agency is a decent route. But owing your own agency is the end goal. If through a group understand the divorce clause for sure. Groups vary in their deliverable. Good, Better, Best. Find a few best in class, take them both to the finish line and make them compete to get you.
WeedleBug- You need to ask youself if you can get through the learning curve of Independence. You need to find a group that can help you through that curve. You need to ask yourself can you afford to run VERY lean for a year or two? You need to know if you are a Hunter that cant be stopped or a farmer? This is sales / Entrepreneur gig that requires everything you got and them some and you need to learn fast. It needs people who wake up and eat sales gigs all day long. Are you that person?
Working for an agency is a decent route. But owing your own agency is the end goal. If through a group understand the divorce clause for sure. Groups vary in their deliverable. Good, Better, Best. Find a few best in class, take them both to the finish line and make them compete to get you.
WeedleBug- You need to ask youself if you can get through the learning curve of Independence. You need to find a group that can help you through that curve. You need to ask yourself can you afford to run VERY lean for a year or two? You need to know if you are a Hunter that cant be stopped or a farmer? This is sales / Entrepreneur gig that requires everything you got and them some and you need to learn fast. It needs people who wake up and eat sales gigs all day long. Are you that person?
