Where do I look for a sample business plan for opening an insurance agency?

Question

Where do I look for a sample business plan for opening an insurance agency?

Answer 1

Well, it's going to be highly individualized!  If you have no idea how to go about opening an insurance agency (which is all a business plan is - how are you going to open, operate, and maintain an agency) you are going to have to hire someone to write one for you.  

If you DO know what you're doing, just write it up!  Or ask a marketing rep friend for a sample.  Or, hire someone to write one for you.

This is a proprietary thing - other agents are NOT going to teach you how to out-work them, which is exactly what the business plan is.

Answer 2

Try http://www.sba.gov/ for basic information on how to write a business plan and sample plans.  I would also recommend you start reading blogs on entrepreneurship and insurance.  Writing a good plan involves research and time, both of which increase the chances of your success.

Answer 3

I think any business should have a business plan. I just completed a new plan and I have been in the insurance business for 15+ years. As a banker (I do both insurance and lending) my bank does not require a business plan to fund a loan but we have a better ideas if you know what you are doing with a plan. Also, we can tell if you don't know what you are doing. More importantly, you can tell if you know what you are doing. As I developed my plan I determined the areas of focus based on the financial results I expected.

Answer 4

I agree with Mcatz..., anyway, that's right that no insurance agent is going to want to help you out.  All of them look at you as if you are stealing "their business".  Which is ignorant because all you want is a mentor and they wind up losing to building a relationship.  Its smart to work in an agency for a while before striking out on your own.  The problem with not knowing about the business is that when you hire people, they will take advantage of your ignorance or they won't be loyal to you in the long run because they know more than you do.