kgamarketing
Expert
Hello everyone,
These forums are awesome and i've gotten a lot of knowledge from reading on these forums. Today, my future partner in a business and I were talking about finally starting an indy agency. I just have so many questions and hopefully someone can answer all of my worrying questions so I can be prepared for success.
I am in the state of NJ, we both are. We are going to be equal partners and a little bit of background about myself. I currently work for a company and sell about 60-70 policies a month bringing in about 60-80k in written premium a month. We are going to get my partner licensed and are looking to rent a small office here in NJ and hopefully get appointed through some companies. Here are my questions I would greatly appreciate being answered.
-How easy is it to start this up? How much money is needed, lead costs, crm costs, e&o costs and anything else I havent for seen other than phone and internet service?
-How and who is the easiest to get appointed with? Progressive, ASI, NBIC, 21st - we would obviously need strong home and auto carriers.
-What are average percentages that you would make off policies? 12%? 15%? and how do renewals and residuals work? Is there also a incentive if I sell a lot of policies per carrier?
And honestly, i just need guidance, I am in my early 20s and do very well that I feel like if I do not make the jump now, i might miss an opportunity down the road.
Any help would be appreciated from you veterans.
Thank you !
These forums are awesome and i've gotten a lot of knowledge from reading on these forums. Today, my future partner in a business and I were talking about finally starting an indy agency. I just have so many questions and hopefully someone can answer all of my worrying questions so I can be prepared for success.
I am in the state of NJ, we both are. We are going to be equal partners and a little bit of background about myself. I currently work for a company and sell about 60-70 policies a month bringing in about 60-80k in written premium a month. We are going to get my partner licensed and are looking to rent a small office here in NJ and hopefully get appointed through some companies. Here are my questions I would greatly appreciate being answered.
-How easy is it to start this up? How much money is needed, lead costs, crm costs, e&o costs and anything else I havent for seen other than phone and internet service?
-How and who is the easiest to get appointed with? Progressive, ASI, NBIC, 21st - we would obviously need strong home and auto carriers.
-What are average percentages that you would make off policies? 12%? 15%? and how do renewals and residuals work? Is there also a incentive if I sell a lot of policies per carrier?
And honestly, i just need guidance, I am in my early 20s and do very well that I feel like if I do not make the jump now, i might miss an opportunity down the road.
Any help would be appreciated from you veterans.
Thank you !
