Startup Costs For Telesales

[Todd King]

Now - all those miles you are logging on your car, the wear and tear, the expenses, the repairs and (even though you are argumentative) the god forbid potential accident that you may have (more miles logged = more chance for accident)...how can you compare the 2 methodologies?

You can't compare the two because you don't get huge tax deductions from sitting at a desk. The mileage deduction is the best deduction you'll ever find. You can get a credit for way more than the cost of the gas, maintenance, etc.

I can tell by the rest of your post....you've never done it f2f, have you? If you have, then you didn't learn very much or you wouldn't be making half the comments you do.

Hey look, if telesales is your thing, then great, but don't say doorknocking doesn't work. They both work and they both don't work....depends on you and your attitude. Either way, whatever you believe....it's true.

 

[Todd King]

P&C has always been a brick and mortar thing. But the Gov'ment say you gotta have it, so not a good comparison to use.
[/QUOTE]

Yep...my son is at a large Allstate agency...they have a gorgeous storefront that no one ever walks into- it's ALL phone![/QUOTE]

No one walks into? Sorry...don't believe that.

 

[BarryNY]

You can't compare the two because you don't get huge tax deductions from sitting at a desk. The mileage deduction is the best deduction you'll ever find. You can get a credit for way more than the cost of the gas, maintenance, etc.

I can tell by the rest of your post....you've never done it f2f, have you? If you have, then you didn't learn very much or you wouldn't be making half the comments you do.

Hey look, if telesales is your thing, then great, but don't say doorknocking doesn't work. They both work and they both don't work....depends on you and your attitude. Either way, whatever you believe....it's true.

You're ABSOLUTELY right...I have never and would never ever go door to door selling anything...to each his own....I never said it doesn't work I just said its got plenty of negatives. Tele-sales - only negative is no answer or hang up....OK next!!! I can "door knock" 100 prospects in 2 hours...

And....on your tax advice...you can have that .58/mile. Maybe better if you stick to commenting on the insurance business unless you're a CPA too...(PS I'm a former Accountant).....Anyway - the gas alone is .13/mile. So you got .45 "to play with". From the IRS:

If you choose the standard mileage rate, you cannot deduct actual car operating expenses. That means you can't deduct maintenance and repairs, gasoline and its taxes, oil, tires, brakes, insurance, and vehicle registration fees. The standard mileage rate includes all these items, as well as depreciation.

You'd be lucky to come out whole...don't forget you'll be replacing that 150,000 mile car in a few years...and plus the deductible on all your accidents...and of course the tickets for texting and driving which you'll be doing while going door to door...

We can agree to disagree - you can have your downline troops knocking all day....good for them.

 

[myinsurebiz]

Yep...

Thought you bid Ado to this thread Barry

 

[Todd King]

You're ABSOLUTELY right...I have never and would never ever go door to door selling anything...to each his own....I never said it doesn't work I just said its got plenty of negatives. Tele-sales - only negative is no answer or hang up....OK next!!! I can "door knock" 100 prospects in 2 hours...

And....on your tax advice...you can have that .58/mile. Maybe better if you stick to commenting on the insurance business unless you're a CPA too...(PS I'm a former Accountant).....Anyway - the gas alone is .13/mile. So you got .45 "to play with". From the IRS:

If you choose the standard mileage rate, you cannot deduct actual car operating expenses. That means you can't deduct maintenance and repairs, gasoline and its taxes, oil, tires, brakes, insurance, and vehicle registration fees. The standard mileage rate includes all these items, as well as depreciation.

You'd be lucky to come out whole...don't forget you'll be replacing that 150,000 mile car in a few years...and plus the deductible on all your accidents...and of course the tickets for texting and driving which you'll be doing while going door to door...

We can agree to disagree - you can have your downline troops knocking all day....good for them.

Okay, at $.58 cents per mile, just on 100 miles a day, 5 days a week, 50 weeks of the year, will be a $14,500 deduction right off the top. That's $58K in 4 years. If that doesn't pay for your car, you should check what you're driving! (In your example of 150K miles, that would be $87K). So yeah, you can actually make money doing it.

By the way, I understand how the mileage is deducted and what it encompasses...more than likely longer than you have understood it! So yeah, I'll stick to things I understand....just like I have here.

 

[PA Bill]

P&C has always been a brick and mortar thing. But the Gov'ment say you gotta have it, so not a good comparison to use.

Yep...my son is at a large Allstate agency...they have a gorgeous storefront that no one ever walks into- it's ALL phone![/QUOTE]

No one walks into? Sorry...don't believe that.[/QUOTE]
I have a great agent who's always looking out. But I go to his storefront nearby to sign the papers. Step right up!

 

[KRobby]

2. Provide Agent a smoking hot state-of-the-art CRM to manage said leads

I think this business will be 100% phone/online within the next 3-5 years....100%.

haha

Todd...come on you're smarter than that...ummmm I'll make a declarative statement that's not in dispute: NO encyclopedias are sold f2f or door knocking...But wait - weren't Encyclopedias sold door to door some 50 years ago...and I think hair brushes too...don't be the dinosaur in the china shop....

There's a reason phone sales is considered being the "dinosaur" in nearly every industry.

 

[Todd King]

Longer than me....I doubt it unless you graduated with an Accounting degree before 1978 and then worked for KPMG??? Yes???

Then that must be a really old picture!

 

[Will S]

P&C has always been a brick and mortar thing. But the Gov'ment say you gotta have it, so not a good comparison to use.

Yep...my son is at a large Allstate agency...they have a gorgeous storefront that no one ever walks into- it's ALL phone![/QUOTE]

No one walks into? Sorry...don't believe that.[/QUOTE]



Believe it. I worked for an Allstate agency in Baton Rouge for a couple years and in the two years I was there we had five sales made from folks coming into the office. EVERYTHING else was phone sales.

 

[Todd King]

We have a Nationwide office across the street. We have a Progressive office nearby. And then there is my personal State Farm agent right near my house. All 3 places have people coming and going everyday, so maybe no one likes to go to Allstate offices?