Davis Broker Insurance Services | Application Preview
Davis Broker Insurance Services is seeking government grants to support the growth of their insurance brokerage. The funding will be utilized for hiring an office assistant and a licensed associate, renting an office space, marketing efforts, and acquiring necessary systems for insurance operations.
The business plan includes hiring additional licensed agents and expanding operations into other states. The owner has eight years of experience in the insurance industry and has built a strong reputation by prioritizing client education and satisfaction over making quick sales. Their dedication has led to clients urging them to start their own brokerage, which they have now done. The owner is driven and passionate about helping clients, which distinguishes them from competitors.
In terms of competition, the business faces larger companies like State Farm, Allstate, and Geico in the auto insurance sector, but has established strong referral relationships with these firms. Notably, when these companies are unable to accommodate a client, they refer them to the brokerage.
Davis Broker Insurance Services' competitive edge lies in offering a wider selection of home insurance options and taking the time to thoroughly explain policies to clients, which results in high recommendations and a loyal customer base. The positive feedback from both clients and fellow brokers has reinforced the business's standing in the community.
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General Information
Business Registration Number: ?????
Location: Browns Valley, CA, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
Hire an office assistant and a licensed associate, rent office building, marketing and advertisement and systems needed for Insurance.
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Business Plan
I plan to hire more licensed agents and expand my license to other states. I have been selling insurance for 8 years, I have a high reputation in the community because I don't just make a sale for the money. I always explain the insurance to my clients and help them make the best decision for them. Clients have been telling me for 5 years to open my own broker agency and now I have. Through my 8 years I have worked off referrals only and I plan to take this to other states. I am energetic and driven my helping clients and being honest sets me apart from any other agency.
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Self Identified Competition
As far as Brokers go, I do not have competitors, other brokers have been waiting to hire me for years. Top companies that are competitors are the bigger companies like State Farm, Allstate and Geico, but even then, they are just competitors when it comes to Auto. State Farm and Allstate refer business over to me when they are unable to write something. I have more of a selection for home insurance and I take the time to explain the insurance to my clients. I go above and beyond for them and that is why I am highly recommended. Other agencies have made comments about how everyone tags me in an insurance post on social media. Another Broker helped me get set up and said, "it is about time, everyone likes you".
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