Entrepreneur Magazine names Brightway Insurance a Top Growth Franchise
Nationally recognized company is opening more franchise locations than ever before following the recent launch of its new, lower-cost franchise model.
JACKSONVILLE, Fla., Sept. 10, 2020 // PRNewswire // - Brightway Insurance, one of the largest Personal Lines agencies in the U.S., made Entrepreneur Magazine's list of 2020 Top Growth Franchises in the U.S. and Canada. This list recognizes the 150 companies with the greatest positive franchise unit growth in North America over a three-year period, based on data submitted for Entrepreneur's Franchise 500® ranking. Thanks to its exceptional growth, Brightway ranked No. 108.
"We're ecstatic to be recognized by Entrepreneur for our continued growth and stability," said Brightway President and CEO, Michael Miller. "We align our goals with those of our franchise owners, so that when we help them grow their businesses, we all benefit. This alignment keeps everyone focused on what's best for our franchise owners and customers."
Miller continued, "In June, we made franchising with Brightway easier than ever before when we introduced a lower-cost, $5,000 franchise offering that empowers people to grow at their own pace and gives them the option to open a second location at no additional cost. Our investment costs are among the lowest on Entrepreneur's list, and we've had a tremendous response to our new franchise model and anticipate steeper growth in the months and years ahead as more people realize their dreams of business ownership with Brightway."
To determine the 2020 Top Growth Franchises ranking, Entrepreneur looked at each company's U.S. and Canadian franchise numbers over a three-year period (from July 2016 to July 2019; given the rapid changes, COVID-19 impacts weren't taken into account). In order to qualify, companies had to have positive growth of at least five units each year. They were ranked based on a formula that considers their total positive U.S. and Canadian franchise growth over the three years as well as factors that negatively affect growth, such as terminations, nonrenewals and other closures.
"By maintaining steady, sustained growth over several years, these franchises have demonstrated that they have the systems in place to support their franchisees and help them become successful," said Entrepreneur's Editor-in-Chief, Jason Feifer. "Now as these and other companies around the country face unprecedented challenges, they may see their growth slow, but that record of success could prove more important than ever."
In addition to making the Entrepreneur list, FranchiseRankings.com recognized Brightway as the only insurance franchise on this month's Best Franchise Opportunities, ranking the company No. 34 on the list of 100 companies.
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.
About Brightway Insurance
Brightway Insurance is a national property/casualty insurance distribution company with more than $705 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 more than 900 people in 236 offices across 22 states serving customers in all 50 states.
Consumers seeking a better insurance buying experience may visit the Brightway Insurance website.
SOURCE Brightway Insurance
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