One of the best cosmic breaks a commercial insurance agency can get is signing on as the exclusive insurance provider for a franchising company. In other words, each and every franchisee that buys into the franchising system automatically becomes your customer. Can you imagine how wonderful that could be for making money? Best of all each of these franchises is nearly the same, and they are all required to carry the same insurance as per the Franchise Disclosure Documents (FDD) of the franchisor.
Basically, you design one perfect package for the franchisor's needs, and the needs of the franchisees and it's like a turbo cookie-cutter with a mile-long strip of 18 inch wide dough, you just rev up your turbo cookie-cutter and let it go. Now that I've got your attention and you're seeing dollar signs, you are probably wondering how you might go about snagging such an awesome client.
Well, it just so happens I am a retired franchisor and had been in the franchise industry for about 20 years; and we did have exclusive insurance agents and carriers, not only for workers comp in the various states, but also for commercial insurance policies and since we were a mobile franchise for our automobile policies.
Indeed, I had my commercial insurance agent's phone number on my speed dial. God only knows how much business we sent them over the years. But the reason I chose these companies and remained loyal to our insurance people, was because they took care of business, and they worked directly with the underwriters, and built us a perfect policy addressing our needs, one which was customized.
This made it easier for me and it made it very easy for them. We got a good rate and they got a boatload of customers. Please consider all this.
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