- 2024 Franchise 500 Rank
-
#468 Ranked #206 last year
- Initial investment
-
$42K - $160K
- Units as of 2024
-
343 18.7% over 3 years
Company Overview
About Brightway Insurance
| Industry | Financial Services |
|---|---|
| Related Categories | Insurance , Miscellaneous Financial Services, Miscellaneous Services |
| Founded | 2003 |
| Parent Company | Brightway Insurance |
| Leadership | Nick Clements, President & CEO |
| Corporate Address |
3733 University Blvd. W., #100 Jacksonville, FL 32217 |
| Social | Facebook, LinkedIn, Instagram, YouTube |
More from Brightway Insurance
There is plenty of money to be made in the $900 billion property/casualty insurance industry. Brightway’s unique independent agency franchise model offers a low-cost, turnkey solution in this recession-resistant industry that offers the lucrative benefit of recurring revenue through policy renewals.
For over 15 years Brightway has supported entrepreneurs in opening their own independent insurance agencies. In fact, we are named one of the fastest-growing franchises in America by Entrepreneur in its 2024 list.
Two franchise models provide you with the flexibility to evolve as you grow your agency. With franchise fees starting at $30,000, Brightway is one of the most affordable franchise models available.
In traditional insurance agency models, countless hours are spent servicing accounts for existing customers. At Brightway, our team of experts manage all your back-office, including a centralized Customer Engagement Center Team to handle all your agency’s after-the-sale servicing needs.
Business Overview
| Franchising Since | 2008 (16 years) |
|---|---|
| # of employees at HQ | 345 |
| # of Units | 343 (as of 2024) |
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|
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Information for Franchisees
Here's what you need to know if you're interested in opening a Brightway 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
|
$30,000 - $50,000 |
|---|---|
|
Initial Investment
|
$42,100 - $159,500 |
|
Cash Requirement
|
$50,000 - $150,000 |
|
Veteran Incentives
|
10% off franchise fee |
|
Royalty Fee
|
to 50% |
|
Term of Agreement
|
5 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 | Brightway Insurance offers in-house financing to cover the following: franchise fee, accounts receivable |
|---|---|
| Third Party Financing | Brightway Insurance has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, 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 | 39 hours |
|---|---|
| Classroom Training | 65 hours |
| Ongoing Support |
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Social Media
SEO
Website Development
Email Marketing
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | Yes |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 1-3 |
|
Are exclusive territories available?
|
No |
Franchise 500 Ranking History
Compare where Brightway Insurance landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Brightway Insurance ranked on other franchise lists? Find out below.
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