They may work as full-time or part-time employees of the company.
Independent agents on the other hand are not tied to any specific insurance company but work on their own.
There are many business opportunities in the insurance industry and running an insurance agency is one of them.
All his earnings would come directly from that company in form of salaries or commissions or sometimes both.
But, there are more reasons and uses for a business plan.
It serves as the roadmap to guide you in your first years in operation. It holds you accountable to your goals and objectives.
That’s because your business plan can help you secure financing and direct appointments.
In addition to giving key stakeholders peace of mind, your plan can help you…
What are the current trends in growth and customer behavior and preference? This can include, but is not limited to, high costs in capital, labor and/or marketing.
What are the opportunities and potential threats in the industry? It is possible you’ll have more than one customer group. It also can include brand recognition, training and skills, and technology.