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What is an American Family agency?
Insurance, guys.
Assuming it is an insurance agency, you can make good money, but you need to sell an awful lot of policies to net 200K
Had a former coworker that owned an all state agency. Said he gets to keep 10% of his book which was worth $2m, so similar to your guy he also makes $200k.
Is 200K enough ?
You can try to buy a small business. Even some pizza shops net 200k a year+ plus amazing free pizza perk. Do some leverage buyouts?
Assume this is a personal insurance agency. It’s a good gig, especially if someone gave him one with a good book of business. Usually takes a decade to build to that level. Also requires quite a bit of relationship maintenance. Haven’t met too many owners that are just off doing whatever
Sorry - Yes American Family Insurance Agency
D1 - if it’s $200k + total life freedom I would say yes! He works about 5 hours a day, travels all the time and doesn’t work more than 4 days per week. He actually owns multiple agencies so he makes probably about $200-350k total
Car insurance - $900
Home insurance - $800
Renters insurance- $200
Life Insurance - $500
Pretty conservative and only using the most popular products, but lets say...if you sold a thousand of each policy in a year, that'd be $2.4M in sales and $240k in your pocket. Most policy holders would probably also just renew so once you have a decent sized book you're set. Just need to keep people from leaving and make a few new sales. A lot of new sales are just funneled through their website to the closest agency too.
The agent based model is dying. It inflated prices and is totally unnecessary. I got a great postage meter biz you can buy while your at it
Out of curiosity - and this will relate to the answer you seek - why would anyone select an agent, any agent, to go through when they can pick up the phone and cherry pick, price hunt, etc for free? (If you say “trust” or some similar vague description, please elaborate further).
ONE pro marketing - could just be name brand awareness and ease of use. I switched because they offered more insurance coverage for me and a lesser price. I also find the app very easy to use. My friend is also someone I do trust, and has helped me already a few times with claims/etc. but you make a great point.