Starting an Independent Insurance Agency
Starting anything from the ground up can be overwhelming. There are many questions you should be asking yourself. Before you even begin, there’s a lot of homework to be done to ensure that you are going to succeed as an independent insurance agent.
Do you have the experience to become an independent agent?
Since you’re thinking of starting your own agency, it’s probably fair to assume that you have some experience in the insurance industry. Whether you’ve been a captive agent or you have worked as a producer for another agency, industry insight is important if you are going to succeed as an independent agent.
The next step is to write up a business plan. As an independent agent, you’ll need a solid business plan that lays out:
- Your mission – Why are you starting an agency? How are you going to be different? What is your niche?
- Your goals and financial projections – How will you reach them?
- Your market research – Who is your target audience, what are they buying, where are they, and can you reach them?
- Your marketing strategy – What is your niche? How are you going to sell your product?
Find your niche market in the insurance industry
It is important to make yourself stand out among your competitors. Before starting your own agency, think about how you can separate yourself from the pack and secure a place as a leader in your industry, instead of just another agency in the crowd. You need to find that niche in the market where you can excel above the rest. Become an expert in your niche market and grab a firm hold of your target customer base.
A niche market will help your agency run more efficiently
By only having your producers focus on one niche market, you are going to increase your production. Your sales campaign can also have more focus, rather than being convoluted or general. Focus leads to efficiency, which leads to bigger sales. Zeroing in on a niche market will help you run an efficient agency.
Start your agency with Affordable American Insurance
At Affordable American Insurance (AAI), we offer independent insurance agents in Colorado, Utah, and Arizona with a turnkey business model to start their own agency. We provide our members with access to business classes, seminars, and increased carrier representation without carrier production requirements. If you’re considering opening up an agency, join AAI and become part of the fastest growing network of independent insurance agents in the Southwest.
With AAI, you are independent but not alone.