by Bradr » Tue Jul 29, 2008 09:37 pm
Hi Folks, I'm entertaining buying into an existing book of business and starting out as an allstate independent agent . I have over 20 years of sales and marketing experience but no insurance related experience at all. So I'd be starting from scratch licensing and all.
Can anyone give me their opinion of this opportunity, company what I should watch out for?
Thanks in advance. :D
Can anyone give me their opinion of this opportunity, company what I should watch out for?
Thanks in advance. :D
Posted: Thu Sep 02, 2010 03:58 pm Post Subject:
I was contacted by an allstate recruiter, she loved me, I passed the test and then spoke with the field manager for my area.
Is there anyway around the 50k? Do they offer anything for Minorities or women? I have been thinking about trying to get a business loan to get started with them, but then I thought if I do that why don't I just become a broker.
I have a friend who does it for Metlife and they are giving her a salary for her first 5 yrs, I hear other agencies do thatas well, so is Allstate better than the others?
Posted: Fri Sep 03, 2010 12:55 am Post Subject:
if you start ANY insurance agency w/o $50k in cash, you will have a very VERY hard time. a scratch agency takes at least 5 years to get established. You need the cash to get you through those tough times. Personally, $50k is low for a scratch.
Allstate is firm on the start up cash, and for good reason.
Posted: Mon Sep 06, 2010 12:20 am Post Subject: Startup Cash
They require your name be on a bank account that has 50k in it. If someone has the cash you can be added to their bank account. However if you start a scratch as mentioned, you really will need the cash unless you plan to have no employees or pay rent etc.
Posted: Wed Oct 27, 2010 02:37 pm Post Subject: starting an allstate agency
to the agency owner: do i just call the 877 # to get headed in the right direction?
what requirements can i expect? are they helpful?
how much start up capital will I need?
thx!
Posted: Wed Oct 27, 2010 06:11 pm Post Subject:
jason, what state are you in? its better to get a referral from an agent.
unless its changed recently, requirements are sales experience, insurance or investments experience is a plus, a degree preferred but sales experience, running a business and customer service is what its about.
depends if you want to go scratch or buy a book. if scratch, at least $50k in cash or line of credit in your name.
Posted: Tue Dec 14, 2010 09:40 am Post Subject:
Posted: Tue Dec 14, 2010 09:40 am Post Subject:
Posted: Thu Jan 20, 2011 01:32 am Post Subject: allstate
DO NOT DO IT...unless your are receiving a 20% return on your $...If your a rookie allstate willFU..dont worry about that...advise
be an independwent agent and try and buy an independent agency Book...hello
rookies should stay at home right now..if they want to work for someone else...great...but why sell your soul...and buy the way your having to buy it...duhhh
Mr Vet
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Posted: Thu Apr 07, 2011 10:33 pm Post Subject: minorties
why should they wave the 50k dollar fee because someone is a minority or a woman?
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