How Brightway’s franchise model characteristics set you up for success

APRIL 19, 2022 - Tired of working to build someone else's business, or wanting to have more freedom in your work life? Franchising allows you to take control of your career, build your income and have access to support and tools needed to grow your business.

But where to start? Many franchise opportunities offer similar benefits, so knowing what's most important to you can help you make the right decision.

According to a recent survey completed by Franchise Insights, people interested in starting a business ranked the importance of eight franchise characteristics.

From low cost of entry to brand recognition, franchising with Brightway meets all eight attributes.  

1. Low cost of entry. Brightway offers one of the most affordable franchise models available, with franchise fees as low as $5,000.

2. Higher earnings potential. Brightway franchisees have unlimited earning potential. Along with earning commission on new policies, you also earn commission when they renew. This residual income stacks up each year, allowing your financial future to thrive.

3. Pandemic resilience. Few businesses are as recession-proof as the insurance industry. No matter what is happening in the economy, know you’ll have a steady stream of income when new policies are sold and renewed. According to Aon, net income in the property/casualty industry grew 8.0 percent in the first three quarters of 2021—$43.5 billion compared to $35.5 billion in 2020—and policyholder surplus grew 10.1 percent.

4. Extensive training is provided by Brightway's Training team to help new agency owners learn how to sell insurance in the Brightway system. Brightway’s Agency Development Consultants provide ongoing support for agency owners to help them grow their business.

“By far one of the most valuable resources to me are the Agency Development Consultants, who provide decades of experience in the insurance industry. Since I’m coming from a background with zero insurance experience, the amount of information I was taking in and learning felt overwhelming. When I have questions about quotes or any other situation, they are always there to help no matter how long it takes,” said Tommy Bailey, Brightway agency owner since December 2021.

5. Flexibility of work—owning your own business means more freedom for you. Brightway handles all back-office support, including customer service, carrier relations and marketing, while you have the freedom to run your day-to-day and focus on new business.

As Sam Kassar, one successful agency owner emphasized, “I appreciate the ability to work and not be micromanaged. I can manage myself and my employees successfully and I appreciate the freedom from Brightway to do that.”

6. Virtual Training. Brightway’s Training program is held virtually, giving you the convenience of starting your journey from the comfort of your home before you transition to opening the doors at your agency upon successful completion of Training.

7. Systems and technology platform. Brightway is dedicated to continuously investing in and enhancing its technology platforms to provide a seamless experience for franchisees and customers. Irina Shevelenko, was recently appointed Head of Business Transformation, and is focused on identifying and executing opportunities for Brightway to improve technology and processes. She has extensive strategy and operations experience in the insurance industry and deep expertise leading transformational changes from ideation through execution on both the carrier and broker sides of the business.

8. Well-known brand. Established in 2008, Brightway is now one of the largest property/casualty insurance distribution companies in the U.S., withover 300 franchises in 32 states and over $900 million in annual premium. Brightway recently jumped 37 spots on Entrepreneur’s top franchises list and was one of only 40 brands Franchise Times recognized on its Fast & Serious list of the smartest-growing franchises in the country.