Fortis Multi-Service Agency, LLC | Application Preview
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General Information
Business Registration Number: 881244760
Location: Owings Mills, MD, 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: YES
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Funding Usage
The funding will be used as working capital to hire another customer service representative to focus the business towards sales, it will also help us with more advertising via radio and to purchase new signs, flyers, and banners to attract more new clients. Our office is located in York Rd, in Towson, MD, we will get a lot of exposure from there.
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Business Plan
We have a weekly goal in sales of a minimum of $20,000 per week, $80,000 per month x12 would be around $960,000 in insurance sales per year, and we will work on retaining a minimum of 90% of that business, since insurance companies pay residual income, our plan is to grow our book of business to $4,320,000 in the next five years assuming we retain 90% of the business. Insurance commissions can go from 7-18% depending on the product and the carrier. We will also aim to recruit a team of 10 Real Estate professionals and we will have the systems to help them grow in the business, our agency split commission agreement will be 15% to motivate agents to work with us. We have 16-years experience in the insurance industry, and 7 years of experience in the Real Estate industry, and our agency is a multi-service, we are licensed to do both services and to help our clients own Real Estate and to protect their families financial future with our professional insurance services.
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Self Identified Competition
Other Insurance Brokers with more working capital to hire more employees and to pay for more advertising and networking events. We have a relationship driven business, 90% of our client come from our clients, we have build a trust based relationship with our communities, instead of doing mass advertising, we focus on the word of mouth referrals. that creates a more loyal clientele to your own personal brand. Also, our goal will be to duplicate that model with every hire, so we will keep a close eye on the quality of the team.
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Contact Applicant
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