Looking to start independent agency

Jun 28, 2019

  1. TXAgent1
    Offline

    TXAgent1 New Member

    Posts:
    7
    Likes Received:
    2
    State:
    Texas
    No one will give you leads. I have never bought a lead since I’ve been here. All referral based
     
  2. lhpgators
    Offline

    lhpgators Expert

    Posts:
    46
    Likes Received:
    0
    What was your buy in fee? A range is fine if you don't want to give specifics. Also, do they really do all the servicing and is it quality service?? I've heard of some models that end up not working out.
     
    lhpgators, Jul 16, 2019 at 3:06 PM
    #12
  3. Dreamiekid
    Offline

    Dreamiekid Expert

    Posts:
    77
    Likes Received:
    18
    State:
    Florida
    You still haven’t replied to me. What’s up.
     
    Dreamiekid, Jul 16, 2019 at 3:15 PM
    #13
  4. TXAgent1
    Offline

    TXAgent1 New Member

    Posts:
    7
    Likes Received:
    2
    State:
    Texas
    The franchise fee varies from state to state depending on if you’re in a new state or not. I came In a few years back.

    My retention is in the 90% area. Service is great if you utilize your hem like they’re supposed to be used. If you expect them to do something they’re not supposed to do youll be disappointed. Not saying they won’t, but a lot of them are smart enough to think outside the box.
     
    TXAgent1, Jul 16, 2019 at 7:22 PM
    #14
  5. lhpgators
    Offline

    lhpgators Expert

    Posts:
    46
    Likes Received:
    0
    So does the service department handle Payment calls, renewal calls, adding vehicles, that kind of stuff? Do they get calls directly or do you have to transfer the customer to them?
     
    lhpgators, Jul 17, 2019 at 1:11 PM
    #15
  6. goillini52
    Offline

    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

    Posts:
    20,128
    Likes Received:
    6,296
    State:
    Illinois
    goillini52, Jul 17, 2019 at 1:22 PM
    #16
  7. KeithIns
    Offline

    KeithIns New Member

    Posts:
    2
    Likes Received:
    0
    State:
    New Hampshire
    It is good to hear that there are very successful franchisees, but I don't think TXAgent1's experience is typical.

    If TXAgent1 is writing $150K/month that is $1.8M annualized, which in TX would probably be around $560K in commissions and fees. His split would be 80% or about $445K. Assuming he had a book of $1.8M, 85% renewal would mean about $475K in commissions and fees with a 50% trailer for $237K. Total income would be just over $700K.

    I would say that TXAgent1's experience is an outlier. Building a business that quickly is extremely difficult. He must be a top producing Goosehead franchise.
     
    KeithIns, Jul 17, 2019 at 4:36 PM
    #17
Loading...