Brightway Insurance Announces New Agency Ownership Franchise For $5,000 Franchise Fee With Free Second Unit
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Brightway Insurance Announces New Agency Ownership Franchise For $5,000 Franchise Fee With Free Second Unit

Leading insurance franchisor makes owning a franchise more affordable than ever

JACKSONVILLE, Fla., June 23, 2020 // PRNewswire // - Brightway Insurance, one of the largest Personal Lines insurance agencies in the U.S. and one of very few franchises that pays residual income, is making it easier than ever to open a franchise with the company and to build your own Brightway enterprise. Today, the company introduced a new path for those seeking a franchise ownership opportunity in the Brightway system, with a new option to join with a $5,000 franchise fee. And, for the $5,000 fee, the franchisee has the right to open their first two locations.

"Over the past few months, we took the opportunity to look closely at what we were offering and considered how we could make it easier for people who want to open a Brightway franchise," said Brightway President and CEO, Michael Miller. "We believe this new option with a lower franchise fee will open the door for many more people who wish to go into business for themselves."

Miller continued, "We are thrilled to be able to offer different franchise options, whether it is your goal to operate an Office Agency by yourself or to open five Retail Agencies in different states with large sales teams, we have something for everyone."

For those who wish to operate a Brightway Agency in a professional office space, they can join the company's Office Agency model in two ways. With the new $5,000 franchise fee option, a franchise owner would enjoy a commission split of 60% on New Business and 50% on Renewals. For those wishing to earn a higher commission rate on New Business, an Enhanced option is available for an additional $25,000 that will earn franchisees 80% on New Business.

In addition to the two levels of the Office Agency model in which franchisees can work from a professional office space, the company continues to offer their flagship Retail Agency franchise model that features the greatest benefits and revenue potential. The franchise fee for the Retail Agency model is $60,000, and franchisees earn up to 100% New Business commission and 55% commission on Renewals.

Regardless of which model the franchisee chooses, they can open their first two locations for the same franchise fee, and they can hire remote workers in their market to help them grow even faster.

"We want to make it as easy as possible for all of our franchisees to add Producers; each Producer an Agency Owner adds can help the owner build wealth faster," said Brightway Chief of Staff, Leslie Wright.

See the table below for a side-by-side comparison of Brightway's franchise options.

 

Office Agency

Retail Agency

Insurance
experience

required

None required

Franchise fee

     $5,000 for up to 2 locations    

$60,000 for up to 2 locations

Commission split

60% New Business/

50% Renewal

Enhanced option­--pay an
additional $25,000 and earn

80% New Business/

50% Renewal

 

Up to 100% New Business*

55% Renewal

Location

Professional location with
option to start at-home

Retail space with option to
start at-home

Staff required

No limit

Minimum of 3

Remote workers

Yes (in market within 50 miles of location)

Ability to grow an

enterprise

Yes

Test new markets
risk-free

Yes

Contract term

5 years with unlimited renewals at no cost

Holistic business

support

Yes

After-the-sale
service

Yes

Sales quotas

No

Access to top
carriers in local
market

Yes

Access to Affinity
Referral Program

Yes

*Base New Business commission for Retail Agencies is 85%; through our New Business sales bonus program, Horizons, Retail Agency Owners can earn an additional 15% commission on new business, bringing New Business Commission to 100%.

Brightway's low-risk, high-reward business opportunities allow people from a wide variety of backgrounds to prosper. A centralized team of experts provides training and support in areas including Customer Service, Accounting, Marketing, Distribution, Business Analytics, Carrier Appointments, Licensing, Onboarding, Training, Hiring and Retaining personnel. The company's signature after-the-sale service empowers franchisees to focus on new business sales and provides their customers the personalized service they deserve.

In addition to providing holistic business support, Brightway has relationships with hundreds of insurance companies, giving franchisees the ability to offer more choice in insurance brands to consumers. During tough financial times, having options is important for consumers.

About Brightway Insurance

Brightway Insurance is a national property/casualty insurance distribution company with more than $680 million in annualized written premium, making it one of the largest Personal Lines agencies in the U.S.

Brightway's focus is on producing Win, Win, Win outcomes for consumers by offering customized insurance solutions and for people wishing to sell insurance by providing business opportunities that span from single Agent to multi-unit enterprises. Regardless of the path taken, Brightway provides the support necessary to consistently outsell other insurance agents.

Brightway got its start in 2008 and has since grown to nearly 900 people in 207 offices across 22 states serving customers in all 50 states.

SOURCE Brightway Insurance

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