Going Indy...start Up Costs?

[NCnatwidagent]

Looks like I'll be leaving my captive agency this week. Been way to many distractions lately and my production is low. This is a personal choice but seems it has to come now rather than later.
I've lightly reasearched some of the FE companies like Equita, Securus and some others. If I were to choose this route, can someone give me an idea of what I need to get started? Not the price of buying leads, but things like what equiptment, E&O etc.
On Monday I will contact these companies and get more info so I can make a choice. But was hoping that some of you that have been indy (working from home) types could give me a little low down.
For what its worth.....I've been life and health licensed for 17yrs. Done well being captive. So I'm not a newbie but being independent is quite different.
I also got my med supp / ltc license this year but being captive I have to go thru my primary and he won't sign contracts to let me sell these products. I was hoping to cross sell some med supps after the FE policy.
Its a weekend right now, but I need to come up with a plan quickly as I don't intend to stay with this current company after this week.
Thanks for any help!
John

 

[jdeasy]

Looks like I'll be leaving my captive agency this week. Been way to many distractions lately and my production is low. This is a personal choice but seems it has to come now rather than later.
I've lightly reasearched some of the FE companies like Equita, Securus and some others. If I were to choose this route, can someone give me an idea of what I need to get started? Not the price of buying leads, but things like what equiptment, E&O etc.
On Monday I will contact these companies and get more info so I can make a choice. But was hoping that some of you that have been indy (working from home) types could give me a little low down.
For what its worth.....I've been life and health licensed for 17yrs. Done well being captive. So I'm not a newbie but being independent is quite different.
I also got my med supp / ltc license this year but being captive I have to go thru my primary and he won't sign contracts to let me sell these products. I was hoping to cross sell some med supps after the FE policy.
Its a weekend right now, but I need to come up with a plan quickly as I don't intend to stay with this current company after this week.
Thanks for any help!
John

Can't speak for the others but with EFES there is going to be a start up cost of between $300 to $1000 depending on how many leads you ant in your start up kit and the cost you will pay for lead for the first 90 days, {after 90 days the cost you pay per lead is based on production}.

E&O is going to cost you about $500/yr.

 

[NCAgent]

Where in NC are you? I might know someone who can help you out a little bit more.

 

[Rearden]

Beyond gas, upkeep, computer equipment, and E&O, nothing really as far as start-up costs?

Beyond EFES's and Securus's start-up fees, make sure you have $2000 to $3000 put back to cover lead costs, with more of an emphasis on Securus, as you pay for mail drops in advanced, versus EFES, where you pay for leads 10 days after you receive them.

 

[NCnatwidagent]

Where in NC are you? I might know someone who can help you out a little bit more.

I live in Elizabeth City, NC. Its an hours drive from the coast and about 40 miles from the Virginia state line.

 

[xrac]

I think you need $3,000-$5,000 to kick things off and survive until production kicks in.

 

[TDFnCali]

Beyond gas, upkeep, computer equipment, and E&O, nothing really as far as start-up costs?

Beyond EFES's and Securus's start-up fees, make sure you have $2000 to $3000 put back to cover lead costs, with more of an emphasis on Securus, as you pay for mail drops in advanced, versus EFES, where you pay for leads 10 days after you receive them.

I dont know if I got lucky, am pretty good at sales (i think i am) or Reardon's way off here. Ive seen u post that agents need 2-3k in the bank to start several times, but I started with only enough to buy old leads for a few weeks, about $500. I did ok, paid for my leads as I got apps, then eventually got new fresh leads after 1 month. But even if I started out wit new leads, I only had enough for 2 mailings at most.....where's the $2-3k come from??

 

[InsuranceMGA]

I think you need $3,000-$5,000 to kick things off and survive until production kicks in.

Were you for Real? I started with $1,300 and kept rolling that over until I could do larger mailing and make more money....Why would someone need $3,000 to $5,000???

In final Expense sales...???

 

[Sherd]

Were you for Real? I started with $1,300 and kept rolling that over until I could do larger mailing and make more money....Why would someone need $3,000 to $5,000???

In final Expense sales...???

Did you start as earned or take advances?

 

[InsuranceMGA]

Did you start as earned or take advances?

Well I took advances of Course, I don't know why any agent starting out who does not have at least six month's of their income in the bank would get paid as earned.

I have been doing the business for a while and I still take advances.

But if you are making the point that they need that to cover their home expenses I totally understand where you are coming from.

And I might even agree with you on that. But if they are taking advances and got some money and get some training they would be fine.