If you are a sales professional looking for a challenge that can bring you career satisfaction and prosperity, starting an insurance company could be the right move for you. Many successful insurance company franchisees start out as salespeople either in insurance or another line of business. Let’s look at how to start an insurance agency as a salesperson.
Do the qualities of a successful sales professional translate to starting an insurance company?
In a word, “yes.” Successful sales professionals have a proven track record of being able to sell their products or services through the easy times and the tough times. They are able to do this because they have a deep understanding of the sales process, are committed to relationship building and delivering superior service, and are among the hardest working and most resilient professionals you’ll ever meet. Successful sales professionals are capable of finding leads, turning leads into prospects, turning prospects into customers, and turning one-time customers into repeat customers who generate income for them for years to come. All these qualities apply to starting an insurance company. New insurance franchisees make building their business their No. 1 priority. This is where successful sales professionals already excel.
What do you need in addition to sales skills when you are starting an insurance company?
Great question. Let’s look at some details about how to start your own insurance company. You will need to be licensed in every state in which you will be selling insurance (but not immediately). You will need name recognition, an office, a website, relationships with insurance carriers, and eventually salespeople and support staff to work for you to lead a successful insurance company. Whew! That may sound like a lot, and it is, but if building your own business and being your own boss is your dream, let’s look at how you can bring that dream into reality.
Becoming a franchisee can be a great way to unleash your sales skills and grit while having a turnkey-ready framework in your corner. Let’s talk about name recognition when it comes to starting an insurance carrier. As a successful salesperson, you have probably built name recognition with your current customers and clients and within your community. But you don’t have decades of experience in insurance behind you, and the credibility that name recognition of that kind can bring to your business to get it off the ground and flying high.
Is starting an insurance agency with no experience possible?
If by no experience, you mean no direct experience in how to start selling insurance, absolutely. To a large degree, selling is selling, regardless of the industry. The insurance industry-specific information and skills are all things that you can learn. If you already know how to sell, you bring a lot to the table.
An important consideration with respect to the insurance industry is that you will be selling a product that is necessary. If your customer drives a car, they are legally required to carry insurance. If they rent or own a home, insurance is a must. Someone may not need to buy the latest car, electronics devices, or designer clothes, but everyone needs the safety net that proper insurance coverage will give them. You can become a sales professional who advises your customers on good choices for them that will bring them the peace of mind that they deserve.
Does being your own boss mean you are all on your own in starting an insurance company?
Not if you are a franchisee with a well-known firm with a strong reputation within the insurance industry. Finding an insurance agency that will give you the name recognition, training, and ongoing support you need will have a valuable partner in your future success. When considering becoming a franchisee, make a list of specific questions, including the amount of capital that is required on your part, how long they have been in the insurance business, how many locations they have in operation, and where they are located. You will want to visit them at an in-person office and ask to speak to current franchisees who can help you learn how to start an insurance company as a franchisee.
To learn more about the exciting career opportunities available in starting an insurance company, visit Freeway Franchise or call us at 1-877-822-3024 today!