http://www.smartchoiceagents.com
I saw this ad in Rough Notes. It seems like a good program to investigate, if you have no markets and are looking for national companies. Travelers and Hartford are two of their main companies.
Considering purchase/franchise
Moderators: Josh, independent guy
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sanekkspb
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debt consolidation
car insurance
refinance
payday loan
mortgage
credit card
I love this site!!!
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Wash Broker
- Insurance Journal Fan
- Posts: 7
- Joined: Wed Mar 15, 2006 11:59 am
- Location: Washington
I dont understand it but with the 125,000 franchise fee alone what the heck would you do unless you were purchasing a 6 million dollar agency. These guys just totally irritate me the few times I have spoken with them as we crunch the numbers and they try to rationalize the whole thing. How are you going to cash flow if you write predominately substandard auto, serviceing their debt at prime plue 3 or 4 something and also besides paying for the book adding another 125k for a franchise fee? Come on folks this is not McDonalds. Brooke who? Oh yeah, and then your going to service this debt with 85% of your commissions and no contingencies, plus pick up all the over head. For what? Their "state of the art" computer system that is 10 years old, or maybe its in the brand name.
If you buy into this you deserve what you get. But let me say you will certainly know afterwards what not to do next time.
If you crunch the numbers and take a look at it , why not just write your own business from scratch and keep your overhead low enough til you create some momentum. And if you need a little help check out one of the groups like SIAA, you get lot more than from brooke including contingency commissions regardless of volume and no franchise fee and a really supportive network. Leavitt is great to I hear.
The one thing I think Brooke is GREAT for , and I mean REALLY GREAT. If you have a substandard agency you have been thinking about selling then NOW is the TIME. they will pay you more than anyone else will even come close.
If you buy into this you deserve what you get. But let me say you will certainly know afterwards what not to do next time.
If you crunch the numbers and take a look at it , why not just write your own business from scratch and keep your overhead low enough til you create some momentum. And if you need a little help check out one of the groups like SIAA, you get lot more than from brooke including contingency commissions regardless of volume and no franchise fee and a really supportive network. Leavitt is great to I hear.
The one thing I think Brooke is GREAT for , and I mean REALLY GREAT. If you have a substandard agency you have been thinking about selling then NOW is the TIME. they will pay you more than anyone else will even come close.
Brooke
The only problem as the SELLER to Brooke is payment over three years minimum and no security. Their stock is NOT security. I have heard of numerous career agents who sold their "retirement" to Brooke only to have the deal change as time goes on. If they find a reason to pay you less, they will. Unless you have the money to litigate with these thieves, you will take what they decide to pay you.
I would not buy or sell anything these guys are involved with. They are financing thieves using insurance as a front. They do not bring anything to their franchisees including systems, markets, reinsurance, primary carrier, advertising, etc. This is a house of cards. Each month, their "selected" results include "take backs" whereby Brooke takes back an agency that the owner could not pay for or just became frustrated with the "collar" around his neck and quits altogether.
This group is not an option. I would run the other direction or go into real estate...
Hutch
I would not buy or sell anything these guys are involved with. They are financing thieves using insurance as a front. They do not bring anything to their franchisees including systems, markets, reinsurance, primary carrier, advertising, etc. This is a house of cards. Each month, their "selected" results include "take backs" whereby Brooke takes back an agency that the owner could not pay for or just became frustrated with the "collar" around his neck and quits altogether.
This group is not an option. I would run the other direction or go into real estate...
Hutch