need recommendations to add to new insurance office
Moderators: Josh, independent guy
need recommendations to add to new insurance office
I'm moving my agency to a new and bigger location. It was set up to be a postal service and insurance. I don't want to do postal service and I'm trying to think of something else I can do with that area. What do you guys think would work with an insurance agency. I was thinking about selling cell phones.
All night (24/7) check cashing - then get someone licensed to sell auto insurance and take payments.
Cell phones might work - what about a "budget phone?"
Didn't say what type of insurance you are selling or what part of town you're in. That would have a lot of variance.
You need to sell something that is complimentary to your insurance business and something that BOTH of you could "feed off of."
Hops thie helps!
Cell phones might work - what about a "budget phone?"
Didn't say what type of insurance you are selling or what part of town you're in. That would have a lot of variance.
You need to sell something that is complimentary to your insurance business and something that BOTH of you could "feed off of."
Hops thie helps!
Why another product? How about selling insurance as a professional and leave the gimmicks to McDonalds.
You could sell health insurance with the auto, home insurance with commercial, life insurance with the accident.
The profit on postal, cell phones and other business products are surely not that great and if they are why sell insurance.
Do yourself a favor and stick to the profession, your customers will appreciate it more and guys like me wont be able to say"dont buy insurance there, they dont know if they are selling phones or policies". How many doctors do you know that sell electronics or attorneys that sell shoes? And if you did, would you go to them?
You could sell health insurance with the auto, home insurance with commercial, life insurance with the accident.
The profit on postal, cell phones and other business products are surely not that great and if they are why sell insurance.
Do yourself a favor and stick to the profession, your customers will appreciate it more and guys like me wont be able to say"dont buy insurance there, they dont know if they are selling phones or policies". How many doctors do you know that sell electronics or attorneys that sell shoes? And if you did, would you go to them?
If you feel the need to have something else in your agency, then (considering the time of year it is) why not do simple taxes?
I don't like mixing businesses personally, like said above, I want my agent to be, well, my agent!
Now if it is a matter of having extra room, why not consider, bringing in say a mortgage broker or a realtor, the referrals would be more beneficial to each of you. Perhaps share a receptionist...
Also as said above, a lot has to do with what type of clientele you have. If you are talking to a market that (for example) normally deals in cash, has no checking accounts etc., then a check cashing biz might be good, I would enhance that with offering month to month policies.
Just some thoughts.
I don't like mixing businesses personally, like said above, I want my agent to be, well, my agent!
Now if it is a matter of having extra room, why not consider, bringing in say a mortgage broker or a realtor, the referrals would be more beneficial to each of you. Perhaps share a receptionist...
Also as said above, a lot has to do with what type of clientele you have. If you are talking to a market that (for example) normally deals in cash, has no checking accounts etc., then a check cashing biz might be good, I would enhance that with offering month to month policies.
Just some thoughts.
ancillary businesses
If you are inclined to be a general agent / manager, then by all means expand the insurance part of your business. If not, then consider leasing the space to a business that would enhance your own rather than be a distraction to business or your staff.
One idea is to put a stock broker / financial planner in there. They don't require a lot of space, and the clientele are generally of a high caliber. Another idea would be a mortgage broker. They deal quite often with people and families that are new to the area, and they need a good, local independent agent!
Good Luck!
Swymmer
One idea is to put a stock broker / financial planner in there. They don't require a lot of space, and the clientele are generally of a high caliber. Another idea would be a mortgage broker. They deal quite often with people and families that are new to the area, and they need a good, local independent agent!
Good Luck!
Swymmer
What to sell
As recently as 5 years ago in Sherrill, Iowa (just north of Dubuque) there was a business that advertised bait, tackle, insurance and guide services. Always got a good laugh looking at the sign and wondered if it was a joke.
I'm always amazed when I see an agent who does both real estate and insurance. Can one person do both well? I can't keep up with all the change in the insurance world alone.
Stick with various insurance products.
I'm always amazed when I see an agent who does both real estate and insurance. Can one person do both well? I can't keep up with all the change in the insurance world alone.
Stick with various insurance products.
Re: What to sell
I agree. I've always wondered why the captives/direct writers, wanted their agents to have their 6 & 63 (yes I know, VUL) but the point is, I want my agent to know my insurance and leave the investing to the pros, not an agent who "dabbles" in it because the ocmpany makes him/herkevinraz wrote: I'm always amazed when I see an agent who does both real estate and insurance. Can one person do both well? I can't keep up with all the change in the insurance world alone.
Stick with various insurance products.
-
30yearsexperience
- Insurance Journal Fan
- Posts: 6
- Joined: Tue Dec 30, 2003 11:23 am
I have always felt that in the insurance industry we need professional people in all capacities. I hope you are not thin-skinned but my suggestion would be to either get in or get out of the insurance business. If you are going to be a part-timer or try to wear two hats, the likelihood of you being successful at either is remote. my opinion only............