Starting the Hunt for an Executive Suite..startup P&c Any Tips?

[infoe]

Closing down my captive agency where it was turn key. took over the retiring agent in her same location..started with a small book and had the support of the farm.

Now I will be on my own and sure will have the cluster's help as well as the states agent association but this next stage..sourcing a good startup location, I feel is pretty crucial.

any tips on sourcing an executive office? They still worth it? seems so based on economy what prices look like.

any place to get some more info on them? They seem pretty straight forward, furnished office, phone system and shared receptionist. seems like a good way to get started for me.

Lastly, my new agency is in my home state, 1200 miles away so it is a true startup all over again. Even if I go non resident with the state i'm currently in now I won't try reaching out to the old customers until the non-compete is over.

Thoughts?

 

[djs]

Re: Starting the Hunt for an Executive Suite..startup P&c Any Tip

Just my rambling thoughts....
Assuming you are going after preferred business, clients like a professional office to visit you in, but, in truth, will rarely visit, if ever. You tend to find a place that works for your budget and that will help motivate you to work.

Personally, I like an office where the client can park in front and come in the front door with few barriers to entry. Some executive offices are a ways from the parking, the client may struggle to locate you, you can't see the car, just seems a bit removed from main street for me. Not that it matters, more vendors will come see you than clients

Its good to have a receptionist to handle people as they come in, hopefully they will also answer phones for you if you need it (more personal than an answering machine). I also like an office that you can change offices to a larger one (or get more space) when you need it, without changing the address of the company.

Beyond that, with executive office space, meet some of the other tenants. Will you be a good fit? Could you develop them into a referral partner? Are there competitors already there that might work against you?

It's always interesting to find a decent office!!!!

Dan

 

[infoe]

Re: Starting the Hunt for an Executive Suite..startup P&c Any Tip

Thanks Dan, I was reading your reply on this topic to a post back in 2009 where you mentioned the new hybrid retail parks. I will look into those as well, as it may just be a bit more than an executive office. and an insurance agency in the 22nd floor of a highly congested (downtown like area) may not be my best bet. It definately is interesting to plan for where my office location should be, especially in the diminishing need for a retail precense.

 

[ddomingu]

Re: Starting the Hunt for an Executive Suite..startup P&c Any Tip

I would say think about how you plan to get customers / leads. If your business plan calls for a majority of walk-ins then a high traffic retail location may be best. If you plan on getting calls, internet leads, then office space may be fine.

 

[Sales71]

Re: Starting the Hunt for an Executive Suite..startup P&c Any Tip

Is a home office an option as you start your new agency. Or till you can develope a client base again. Sometime we get all caught up in an office or retail space which it might not be in need right off the bat.

 

[ddomingu]

Re: Starting the Hunt for an Executive Suite..startup P&c Any Tip

Is a home office an option as you start your new agency. Or till you can develope a client base again. Sometime we get all caught up in an office or retail space which it might not be in need right off the bat.

I would say look at your business plan. You can also do a business plan for a home office and one for a retail location. Then you can decide what is best for you.

 

[infoe]

Re: Starting the Hunt for an Executive Suite..startup P&c Any Tip

Home office is not an option for me

 

[xrac]

Re: Starting the Hunt for an Executive Suite..startup P&c Any Tip

Home office is not an option for me

Keep your overhead as low as possible initially but maintain as much flexibility as you can as far as expansion should you grow quicker than anticipated. Infoe, with your experience you will do well. Good luck.