- 2024 Franchise 500 Rank
-
#180 Ranked #219 last year
- Initial investment
-
$12K - $84K
- Units as of 2023
-
200 22.7% over 3 years
Founded by Nicolas Estrella in 1980 after he enjoyed a successful career in the life and health insurance sector, Estrella Insurance started franchising in 2008. The company specializes in home, auto, and commercial insurance services that typically cover businesses, vehicles, and boats, and has expanded its reach with over 150 franchises across the U.S.
Estrella Insurance is one of the cheapest franchises to own. You'll benefit from more than thirty years of professional customer service that Estrella Insurance has procured in its existence.
Why You May Want to Start an Estrella Insurance Franchise
Estrella Insurance has built solid relationships with significant insurance providers so that your business has the best possible chance of succeeding. With trainers and support staff making agency visits, Estrella Insurance offers your location national marketing over the internet, radio, TV, and other outdoor advertising forms.
Even over unaffiliated insurance competitors, the Estrella brand name stands out while giving your business confidence against other franchised chains. You can even open and operate multi-unit franchises with Estrella Insurance, and the franchisor offers support and options for financial assistance to make it happen. The franchisor represents over 150 insurance providers, giving you the ability to insure more at affordable premiums.
Furthermore, Estrella Insurance offers incentives for veterans in the form of a discount on the franchise fee.
What Might Make Estrella Insurance a Good Choice?
As you make your decision regarding opening an Estrella Insurance location, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
A site location team works with you to identify the perfect site for your Estrella Insurance franchise. Their recommendations are based on population, traffic, and demographics, and if need be, they'll also negotiate the best lease terms on your behalf.
And while they guarantee their customers the lowest rates every time, Estrella Insurance looks for franchisees who focus on providing quality service to their customers. This might be a good fit for you if you have expertise and experience in insurance already.
How to Open Your Own Estrella Insurance Franchise
In order to become a franchisee with the Estrella Insurance Hialeah team, you should make sure you’re financially ready for an initial investment and potential set-up fees. These will include royalty percentages and fees and renewal fees. Estrella Insurance offers a ten-year term of agreement that can be renewed if you and the company are both satisfied.
You might also find it easier to secure financing due to the backing of a reputable franchisor. No need for franchise insurance with this insurance franchise; franchised companies like yours get continual support as well as multiple weeks of on-the-job training, assisting your endeavors in every way from opening day.
Estrella typically assists franchisees with location advertising and outfitting new or converted insurance agencies while you're attending training. Before long, you'll be ready for your outlet's grand opening ceremony.
Company Overview
About Estrella Insurance
| Industry | Financial Services |
|---|---|
| Related Categories | Insurance , Miscellaneous Services |
| Founded | 1980 |
| Parent Company | Confie Estrella Inc. |
| Leadership | Jose Merille, Vice-President |
| Corporate Address |
1801 S.W. 3rd Ave. Miami, FL 33129 |
| Social | Facebook, Twitter, LinkedIn, Instagram, YouTube |
Business Overview
| Franchising Since | 2008 (16 years) |
|---|---|
| # of employees at HQ | 23 |
| Where seeking |
This company is offering new franchises in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Missouri, Mississippi, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, West Virginia, Wyoming |
| # of Units | 200 (as of 2023) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Estrella Insurance franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$10,000 - $25,000 |
|---|---|
|
Initial Investment
|
$12,250 - $84,000 |
|
Net Worth Requirement
|
$50,000 - $100,000 |
|
Cash Requirement
|
$50,000 |
|
Veteran Incentives
|
10% off franchise fee |
|
Royalty Fee
|
10%-14% of commissions |
|
Ad Royalty Fee
|
7% of commissions |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| In-House Financing | Estrella Insurance offers in-house financing to cover the following: franchise fee |
|---|---|
| Third Party Financing | Estrella Insurance has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, payroll |
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 160 hours |
|---|---|
| Classroom Training | 80 hours |
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
Yes |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 2 |
|
Are exclusive territories available?
|
Yes |
Franchise 500 Ranking History
Compare where Estrella Insurance landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Estrella Insurance ranked on other franchise lists? Find out below.
Sign Up for Our Franchise Newsletter
Stay up to date on the latest news and trends affecting the franchise industry.
Related Franchises
Are you eager to see what else is out there? Browse franchises that are similar to Estrella Insurance.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
Capitalize On Diverse Revenue Streams with a Poolwerx Franchise!
With an investment that starts at only $135,000, Poolwerx franchisees have multiple revenue streams which include pool maintenance, cleaning and servicing for residential and commercial, swimming pool equipment sales and repairs, and retail sales.
20 Interesting Facts You Should Know About Chick-fil-A
The first-ever Chick-fil-A opened in 1967 in Atlanta's Greenbriar Mall. A chicken sandwich sold for 59 cents and the restaurant was only 384 square feet — roughly the size of a two-car garage.
A D.C. Federal Court Declined to Rule on a Challenge to the Joint Employer Rule. Here's What This Update Means for the Franchise Industry.
The U.S. Court of Appeals for the D.C. Circuit has postponed hearing a case on the National Labor Relations Board's expanded Joint Employer Rule. The court will wait for a Texas federal court to rule first.
Want to Own a Franchise in the Billion-Dollar eSports Industry? Here's How.
Learn how to get involved in the exciting and lucrative eSports community. XP League is the premier coach-led youth esports league and first-to-market youth esports franchise in North America with 50+ locations spanning across the US and Canada.
Location Matters — How to Select the Right Place For Your Business to Succeed
An inferior location may be less expensive in the short term, but will cost more in marketing costs and when it's time to sell. Franchisors offer real estate knowledge and relationships to help their franchisees get the best possible location at the best possible price, giving them the best possible start.
Put Your Design Skills to Work with a Decorating Den Interiors Franchise
Discover the top benefits of owning a Decorating Den Interiors franchise, from extensive supplier access and supportive community to low overhead costs, perfect for creative entrepreneurs.