The world of insurance is huge, with many niches available to take advantage of. These range from general liability insurance, commercial property insurance, commercial auto insurance, worker’s compensation insurance, professional liability insurance, product liability insurance, and business owner’s policy
More variations include commercial umbrella insurance, cyber liability insurance, business crime insurance, and equipment breakdown insurance. Now our focus isn’t on the types of insurance products but instead on insurance franchises you can invest in.
If you’ve been drawn to this idea but have little to no knowledge of the most viable opportunities, we’re here to help.
Insurance Franchise Opportunities to Consider
Your desire to own an insurance franchise can only be fully achieved by choosing the right one. The right insurance franchise will be supportive, a franchise that interests you and has robust support. You also need sufficient capital to invest.
Some top names in insurance franchising include Brightway Insurance, We Insure Group, Estrella Insurance, Fiesta Auto Insurance, and Farmer’s Insurance. More options include Allstate Insurance Company, Pronto Insurance, Insurance Lounge Network, and Boardwalk Insurance Group.
There are more options like Freeway Insurance, Sebanda Insurance, Fiesta Auto Insurance & Tax, Goosehead Insurance, Veronica’s Insurance, Paul Davis Restoration, etc.
i. Brightway Insurance
Brightway Insurance offers a recession-proof investment opportunity with the potential for a recurring income stream. Its franchise models are tailored to meet your business goals providing you with increased flexibility for future growth.
To join the Brightway brand, you’ll do well to have prior insurance experience. However, this opportunity doesn’t exclude franchise candidates with no previous insurance experience. If this speaks of your situation, you can still be absorbed into the system.
ii. We Insure Group
We Insure Group is an insurance company that started in 2009 and began franchising the following year. Since its launch, the company has witnessed robust growth. It seeks to expand further by offering franchise opportunities to interested and qualified candidates.
iii. Estrella Insurance
Estrella is another insurance company that offers franchising opportunities to willing and qualified investors. Estrella Insurance specializes in auto, home, commercial, business, and life & health insurance. Franchisees enjoy marketing & advertising, access to a proven business model, brand strength, and financing, amongst others.
iv. Fiesta Auto Insurance
How about franchising for a company that puts the community first? Fiesta Auto Insurance offers the perfect partnership opportunity for willing candidates. Franchisees enjoy access to Fiesta’s corporate trust accounting system, a recession-resistant industry, and top carrier commissions.
v. Farmer’s Insurance
If you find Farmer’s Insurance interesting, you’ll need an investment of $700,005 to get considered. The company was founded in 1928 and began franchising the same year. As a franchisee, you get the needed support to succeed. This includes training and more.
vi. Allstate Insurance Company
Allstate Insurance offers franchising opportunities to interested investors with what it takes to join the brand. The company was founded in 1931 and started franchising two years later. A liquid capital requirement of $100,000 is necessary to join this company.
Are you a veteran? If you are, Allstate Insurance offers you a 25% discount on its franchise fee. There are also financing options that qualified franchisees can access. Overall, joining this insurance franchise will provide you with the comprehensive support needed to succeed.
vii. Pronto Insurance
Pronto Insurance is an industry veteran having the market muscle needed to help its franchisees succeed. This is achieved through competitive pricing, extensive training, committed support, strong brand awareness, low-cost retail locations, and a full suite of insurance products.
viii. Insurance Lounge Network
Insurance Lounge Network was founded in 2012. It only recently established its franchising arm in 2021 to expand its operations. It requires franchise candidates to meet its minimum financial requirements, including an initial investment of $248k to $607k.
Insurance Lounge Network has a franchise term of 5 years which is renewable. As its franchisee, you have financing options and a whole range of support services.
ix. Boardwalk Insurance Group
Joining the Boardwalk Insurance Group brand requires meeting its nominal fee requirements and other things it finds necessary. Is this insurance franchise for you? You’ll have to determine its suitability by contacting the company for details on incentives and what you stand to offer and gain.
x. Freeway Insurance
There are multiple advantages to investing in Freeway Insurance. These include access to an established business model, a strong national brand, advertising support, and access to a wide range of national and regional careers. Franchisees have access to a broad selection of insurance and ancillary products.
xi. Sebanda Insurance
Sebanda Insurance specializes in property, casualty, life insurance, health insurance, and annuity products. As a prospective franchisee, you’ll need an initial investment of $57k to $87k to join. Benefits include access to financing, marketing support, and training.
xii. Goosehead Insurance
Become a Goosehead Insurance Partner by becoming its franchisee. There are several reasons to join this franchise. These include teamwork, efficiency, support, mutually beneficial relationship, growth, and the chance to focus on development.
Goosehead Insurance gives you ownership of your franchise unit while also promising prosperity. Its services include renters insurance, RV insurance, flood insurance, condo insurance, boat insurance, motorcycle insurance, homeowners insurance, car insurance, and landlord insurance.
xiii. Veronica’s Insurance
Supported by a team with more than two decades of experience, all Veronica’s Insurance franchisees can push to grow their businesses quickly. As its franchisee, this company offers personal insurance training sessions and direct access to the best insurance carriers.
More benefits include joining a fast-growing market, being part of a recession-proof industry, considerable investments in advertising, constant technological innovation, having a custom call center in English, Spanish and deaf-mute language, and valuable relationships with strategic partners.
xiv. Paul Davis Restoration
How would you like to become part of a professional insurance franchise that offers home remodeling? Paul Davis Restoration handles jobs involving household goods & textile cleaning services for residential and commercial clients. Paul Davis Restoration is a franchise opportunity with locations spread across North America.
It’s not enough to know what these insurance franchises are. You’ll need to dig further to find detailed information on what they offer, what they require from franchise candidates, and what existing franchisees think about the company. This gives you a better idea of which franchise opportunities to apply to.