Does Walk in Business Still Exist for PC Agents?

[strvinmarv]

Just a general question to the property casualty agents out there, I have a screwy situation going on business wise, someone just purchased the building that my business has been in for 25+ years and has decided to renovate the entire building and has given notice of eviction to everyone in the building. Currently I am on the second floor of a B grade office building in a very high traffic area, but by no means anywhere close to storefront. My question for you guys is, does walk in storefront business still exist? I know that its always better to have a nice easy place to get into, but I have never lost a customer because of their refusal to have to take a set of stairs before getting into my office and making it 1% easier on my customer base doesn't seem like a good investment for 3X the rent unless there is going to be some serious financial gain to it.

The spot that I'm looking at is in a strip mall that has hundreds (if not thousands) of shoppers a day, and its in a great location, but its also for about 3X my current rent, and I would need to see some pretty immediate gain to not have to take a loan out to make rent after three months or so.

Just wondering if people on here have had good experience this day in age with walk in business. Thank you in advance for your time

 

[Sales71]

Well I have a retail store front office next to the beach. The only walk in I get is clients making there payment and notary clients other than that I would rather be in a office suite building.

I found out that all the walk in business I got seems to terminate after 2-3 month. I would not pay 3X rent. With this market condition I will look to cut expenses not raise them. That's in my opinion.

 

[pam1327]

Our office building is in a small town off the busy square. We still receive several walk in customers as well as customers calling before they want to purchase. I use my business cards to obtain more business as well as word of mouth. It works great for our company!

 

[Mark]

There are two P and C places within a block of my office. They always have people in their parking lot.

Jack Russell has a hugh building. He is right next to the credit union. Which is very smart if you ask me.


Location is very important!

 

[CLee]

We are in a small town on the major road through town. We used to be in a small office that looks like a house, with a small sign in the yard. We have moved to another office in the very center of town, on the same road, but we have better parking and a lighted sign outside with the time and temp on top. Our walk in business has DOUBLED since we moved. Location has made a big difference for us. The difference in our situation and yours, though, our rent only went up $100 per month. If it were 3x more it would not have been worth it.

 

[wornout]

I think it depends on the town and the type of business. We are in a small blue collar suburban town. When someone walks in its always an immediate need for insurance -- they have lasped, just came off suspension etc. 90% of this business I don't want. High risk and most likely not going to pay. My partner and I disagree with the location value. I think the walk in business is never worth it.

I do see the value that some local clients like to "visit" and pay in person. That really does develop a relationship with you and the staff.

 

[pam1327]

At our agency we have several different scenarios. Some are the ones who need an immediate need for insurance, some are looking to get a better rate and some are just tired of the bs from their current agents. Walk in business isn't always bad. We are a smaller agency and we try and get to know ALL of our customers and try not to use them as just another commission. I talk to our customers outside work and I get told Iam very personalable and have had alot of walk ins based up on referral from another customer. I have kept those insureds to this day. I treat everyone as I would want to be treated and do not judge by their apperance or how they obtain the quote from me. The bottom line, regardless of where the location is, walk ins call ins, etc., if you are in the insurance field SALES is what builds your salary.

 

[wornout]

Don't get me wrong...I treat everyone equally and we have a great relationship with all we serve. But I have yet to find (after 5 years) a walk in that adds quality to our book.

However, your question was about the value of a location with walk in business. My experience is that even the nicest person in the world may walk in with immediate needs and 90% of the time they have a bad record -- dui, claims machine or canceled for non-payment. I feel for everyone, but I don't get paid if someone doesn't pay their bill.

 

[1manshow]

When we moved off a storefront on main st to a busy residential street we immediately noticed a huge dropoff in the "loser" walk-ins. With a large lighted sign out front and no competing signage nearby we saw an increase of over 30% call-in, walk-in the first year. We're actually on the street that connects downtown to the walmart complex....probably helps a bit.

 

[Sales71]

When we moved off a storefront on main st to a busy residential street we immediately noticed a huge dropoff in the "loser" walk-ins. With a large lighted sign out front and no competing signage nearby we saw an increase of over 30% call-in, walk-in the first year. We're actually on the street that connects downtown to the walmart complex....probably helps a bit.

Walk in are the worst insurance business you can get. Bad quality and cancellation rate is high.
I get a lot of Notary business as walk in, but not insurance.