Being a Farm Bureau Agent vs. Buying a Franchise
May 8, 2019
Have you ever dreamed of owning your own business? From managing a team of your choosing and getting to implement the values that are important to you, there’s a lot to love about being your own boss.
Many people with the same passion have found that becoming an insurance agent is a great option. As a Farm Bureau insurance agent, you have the freedom and flexibility to create your own schedule and choose how to run your business. This is a great time to start your new business in the insurance industry. The industry is growing, there is going to be room for advancement as the baby boomer generation retires and your earning potential is limitless. Insurance is also something that will always be needed, unlike some other franchise opportunities which can be susceptible to popular fads. Start your business in an industry that’s stable and gives you the opportunity to grow professionally!
Earning Potential as an Insurance Agent
When you join a booming industry that encourages you to progress, you’ll notice there are plenty of incredible earning opportunities. Farm Bureau agents earn competitive commissions which include bonuses, residual service fees and travel incentives. And, to lessen the cost of getting started, Farm Bureau offers an additional commission opportunity during your early years. At Farm Bureau, there is simply no limit to how much you can earn and in fact, the top 50% of our agents earned an average of $247,127 in the 2017 tax year.¹
Business Opportunity Comparisons
Let’s look at the facts. Most of the time, franchises are going to ask for a large investment upfront and have strict requirements for their business owners. Many people believe starting your own business as an insurance agent can be a costly venture, but that’s not the case compared to other franchise options. When you become an insurance agent, your only upfront costs are your state licensing exams and office set-up, which require minimal capital compared to other business opportunities.
Additionally, you get to have the convenience of running a business with the recognizable name like Farm Bureau Financial Services without the stress of royalty or franchise fees. How else does Farm Bureau stack up compared to other popular franchises? Check out the chart below showing the different business opportunities many potential business owners consider.
Minimal Startup Costs at Farm Bureau
If you’ve decided you want to know how to become an insurance agent, let’s compare why you should choose Farm Bureau over our industry competitors. Unlike other insurance agencies, Farm Bureau agents don’t have to worry about franchising fees to open their own office.
Unlike other franchise opportunities, you will not be on your own to find ways to grow and earn more business. Farm Bureau tries to assist agents in every area that we can, and we offer ongoing support. We are invested in you and all agents, no matter what your experience level is. All Farm Bureau agents are given continual training to stay up-to-date on insurance industry trends and continue enhancing their skills.
Start Your Own Business With a Team That Helps You Grow
When you join the Farm Bureau Financial Services family, you’ll notice that we are invested in your success and will guide you to a better future. If you want to become your own boss and take on a new business, consider becoming an insurance agent for Farm Bureau. We offer competitive perks and getting started is simple - find out by contacting us today!
1Top 50% of our agents earned a minimum income of $111,481 in tax year 2017. Based on active agents at the end of the 2017 tax year. Figure includes anything taxable, bonuses, travel incentives, etc. along with commissions.