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In short, the quality of your business plan can determine whether or not your small agency gets off the ground.
But any time you start a business, you need to create a business plan.
And even established businesses can benefit from having a written plan on hand.
They may work as full-time or part-time employees of the company.
Independent agents on the other hand are not tied to any specific insurance company but work on their own.
If you’re looking to get investors, a business plan acts as a sales tool.
It can be a recruiting tool for attracting employees. One thing to keep in mind: your business plan should be dynamic. This could include your logo, insurance agency website, business cards, signage, marketing materials.
These objectives would help you toward your goal to be a top 10 agency. What is going to help you achieve those goals and objectives? Include an organizational chart to show who does what. Describe the products and services you will offer your customers.
This section should show off your industry knowledge, research and conclusions. (More on the different structure types.) Who are the owners and what is their percentage ownership? If you plan to have employees, you should detail the roles and responsibilities.
Build outlines or buyer personas for your most important groups.
If you’re selling to consumers, use factors like age, gender, location, income level, social class, occupation, and education level.