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The following is from a Brightway press release announcing a new “incubator” location near Atlanta, intended to help agents become agency owners.
On Wednesday, Feb. 10, Brightway Insurance, the country's seventh-largest privately owned Personal Lines insurance agency, held a ceremonial ribbon cutting event as it opened a location in Kennesaw, Ga. that will house a brand-new program for insurance professionals who want to make the transition from agent to owner. The program is called the BrightwayBridge.
Agents participating in this pioneering venture will work out of the company-owned location and focus on selling new policies and building their businesses while incurring a fraction of the costs that they would if they were to open their own offices.
After establishing their own customer base, the newly minted Brightway Agency Owners seamlessly transition to their own office spaces to continue building their businesses and their dreams. In what's believed to be a first-of-its-kind initiative, the BrightwayBridge will not only create jobs, it will fuel local entrepreneurship.
"From the start, Brightway has been about creating win-win-win business outcomes," said Brightway Founder and Owner David Miller. "For many, opening a Brightway agency from scratch is attainable – they have the experience, the drive and the capital to succeed. For others, they have the experience and the drive, but they may lack the capital. We want them to succeed and we want them to experience the American dream, too. So, we're making the BrightwayBridge available to move them from insurance agent to agency owner."
Their web page link about the new program below makes an interesting claim:
Brightway agents sell an average of $598,020/year in new business in their fourth year of business vs. Independent Agents who sell an average of $264,504/year.
I'm not a Brightway advocate or critic - no dog in this fight - just thought it was interesting. Any thoughts on this strategy and if it might be a viable option for those without much capital to start? Downsides and other considerations? Franchise fees, renewal commission levels, regional, territories, etc?
Brightway Insurance
On Wednesday, Feb. 10, Brightway Insurance, the country's seventh-largest privately owned Personal Lines insurance agency, held a ceremonial ribbon cutting event as it opened a location in Kennesaw, Ga. that will house a brand-new program for insurance professionals who want to make the transition from agent to owner. The program is called the BrightwayBridge.
Agents participating in this pioneering venture will work out of the company-owned location and focus on selling new policies and building their businesses while incurring a fraction of the costs that they would if they were to open their own offices.
After establishing their own customer base, the newly minted Brightway Agency Owners seamlessly transition to their own office spaces to continue building their businesses and their dreams. In what's believed to be a first-of-its-kind initiative, the BrightwayBridge will not only create jobs, it will fuel local entrepreneurship.
"From the start, Brightway has been about creating win-win-win business outcomes," said Brightway Founder and Owner David Miller. "For many, opening a Brightway agency from scratch is attainable – they have the experience, the drive and the capital to succeed. For others, they have the experience and the drive, but they may lack the capital. We want them to succeed and we want them to experience the American dream, too. So, we're making the BrightwayBridge available to move them from insurance agent to agency owner."
Their web page link about the new program below makes an interesting claim:
Brightway agents sell an average of $598,020/year in new business in their fourth year of business vs. Independent Agents who sell an average of $264,504/year.
I'm not a Brightway advocate or critic - no dog in this fight - just thought it was interesting. Any thoughts on this strategy and if it might be a viable option for those without much capital to start? Downsides and other considerations? Franchise fees, renewal commission levels, regional, territories, etc?
Brightway Insurance
