EXECUTIVE OFFICE OR STORE FRONT? Opinions for Independent

Which would be best to start my Independent insurance office?


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GetThaTComish

New Member
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So I will be selling my current office, which is a franchise, to go ahead and open my own independent office. I am not sure if I should first start off in a executive office in a business building with other business that are also leasing (300-500sqft) or open a store front that is more visible from the road?

Also if I were to go the executive office route what kind of marketing would you suggest doing to attract a client to come and find you.Thanks in advance.

I will be doing P&C Life and health
 
Looking at the next twelve months, things you might consider:

How much time do you plan to spend in the office?
What are the primary reasons for having the office?

Is office signage and visibility going to have a significant impact on the business you want to develop?

What's going to happen to your current business customers or clients and how much cash flow can you reasonably expect to have?

What are the overhead costs of the two options?

Do you have to do either or? (Maybe starting with the executive office and then phasing into your own location in 12-18 months would turn out to be a good option?)
 
Also if I were to go the executive office route what kind of marketing would you suggest doing to attract a client to come and find you.Thanks in advance.

That question tells me that you're trying to get people to come to you. A store front with signage would be more effective.

To me, the Executive or Virtual Office route is for freelancers who SOMETIMES need an office for meetings or a place to work other than the coffee shop or the home office. If you're going to be there all the time, then you need a more permanent space that can attract people with your company name and window signage.
 
The office discussions I have seen have related primarily to medicare (probably because that is the area I watch).

Do you think there is any difference from Medicare products and P&C as far as getting walk-in traffic?
 
When was the last time a client worth having walked into an insurance agent's office? Unless you specialize in non-standard, I suspect it has been a long, long time.

That is so true!

I had retail store front for many years, three different locations and none of them had a walk in worth the time. All problems, religious insurance shoppers and downright time wasters.

Also if I were to go the executive office route what kind of marketing would you suggest doing to attract a client to come and find you.Thanks in advance.

Isn't that the million dollar question we all have? How to get your phone to ring?

I rarely meet clients at my office anymore. In fact, I'm rarely at the office period! We are living in the electronic world - use it.

Good Selling!

Dave
 
I am on Main St, I didn't plan on getting walkins, sometimes I do mainly during Medicare AEP. I have signage and my logo out along the roadway. Name and brand recognition was what I was going for. During AEP I will have sidewalk signs "Medicare meeting Tuesday" If I am cold calling I always say" I'm the agency on Main St with the big yellow insurance flag out front" if they live in the area they usually know exactly where I am.
 
So I guess I should have given a bit of background. I have been doing p&c for 8 years the last 5 years I have been a part of a franchise that mostly caters to low to mid income clients.

As I plan to leave and get out of my contract I want to open a office that where I can focus more on acquiring mostly preferred market clientele. I will start out by using an aggregator or cluster group.

The reason I was thinking of the office instead of store front is because it will only cost me 600 a month compared to 1500 a month. Starting from scratch again I would have to market more than before especially not having the franchise to market for us or having the store front. With the cluster group I would get 80/20 commisions then after getting a book of 250k it goes to 90/10

I will be doing life insurance p&c and also will be getting my series 6/63 and 65. Once I build a book big enough I would move to a store front instead.
 
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