What we're working with:
-780k premium P+C agency, no life or commercial, very little home
-Mostly non-standard/standard
-Rural town with ~10k people, borders SC so long term going multi-state
-Progressive, American Century, Infinity, Dairy Land, Gainsco, Foremost, and 8 other smallers carriers I'm planning on consolidating.
-CSR in office, unlicensed (will fix that the first month)
-Very good relationships with local SF agents (I worked for two of them) so can get the people that don't qualify for them for 25% of the commission.
-Expenses run ~60k after paying CSR (10$/hour) and myself (1k/month, the joys of being young, single, with no car payment or kids)
-Roughly 10k to spend on marketing, 15k first year going to backup fund, so making 85k right now.
My current plan is to get in and solidify the current client base by multi-lining the home/renters insurance. I'm trying to find a good life company in GA with a good term product I can sell and convert to WL policies down the road. I'm working on getting a preferred carrier but auto-owners all but laughed at me and Cincinnatti is a no go as well for now. I've considered joining SIAA or Smart Choice but don't want to give up commission or book % just yet. I've toyed with charging a 25$ broker fee for the non-standard clients but I'm trying to make sure it's perfectly legal in GA because I'd rather not get sued. There aren't really any big non-standard agencies in town and what I bought is the go-to agency for those clients.
My question is do you have any advice on the direction I should take? How would you go about growing? I'm 24 years old and have two years to really pour all I have into this(60-70 hour weeks) before I get married and have to start paying myself more and slow down to ~50 hour weeks.
Any advice is greatly appreciated.
-780k premium P+C agency, no life or commercial, very little home
-Mostly non-standard/standard
-Rural town with ~10k people, borders SC so long term going multi-state
-Progressive, American Century, Infinity, Dairy Land, Gainsco, Foremost, and 8 other smallers carriers I'm planning on consolidating.
-CSR in office, unlicensed (will fix that the first month)
-Very good relationships with local SF agents (I worked for two of them) so can get the people that don't qualify for them for 25% of the commission.
-Expenses run ~60k after paying CSR (10$/hour) and myself (1k/month, the joys of being young, single, with no car payment or kids)
-Roughly 10k to spend on marketing, 15k first year going to backup fund, so making 85k right now.
My current plan is to get in and solidify the current client base by multi-lining the home/renters insurance. I'm trying to find a good life company in GA with a good term product I can sell and convert to WL policies down the road. I'm working on getting a preferred carrier but auto-owners all but laughed at me and Cincinnatti is a no go as well for now. I've considered joining SIAA or Smart Choice but don't want to give up commission or book % just yet. I've toyed with charging a 25$ broker fee for the non-standard clients but I'm trying to make sure it's perfectly legal in GA because I'd rather not get sued. There aren't really any big non-standard agencies in town and what I bought is the go-to agency for those clients.
My question is do you have any advice on the direction I should take? How would you go about growing? I'm 24 years old and have two years to really pour all I have into this(60-70 hour weeks) before I get married and have to start paying myself more and slow down to ~50 hour weeks.
Any advice is greatly appreciated.