Successful business ownership is a combination of skill, hard work, and making the right decisions. Our most successful Brightway franchisees come from different backgrounds – surprisingly, not all from insurance. However, there are a few characteristics and traits they share.
If you’ve ever considered business ownership, it’s helpful to know what qualities shape the most successful franchisees.
According to a recent survey completed by Franchise Insights, people interested in franchising shared what they believe to be the most important characteristics of business ownership success.
Chart provided by Franchise Insights
These strengths, particularly the top two, fall right in line with some of Brightway’s most successful agency owners.
Brightway’s franchise models set our franchisees up for success by offering a low-cost investment to get started, and unlimited earning potential and security in a recession-proof industry. In addition, all back-office support including marketing, business analytics, carrier appointments, accounting, customer service and more is provided for all franchisees.
Brightway’s onboarding, training and agency development programs are designed to help set franchisees up for success.
“Brightway has customized the training experience through years of working with our franchisees and understanding best practices so that new agency owners hit the ground running when opening their business,” said Matthew Smith, Manager of Agency Onboarding, Support and Training. “New agency owners are guided through the onboarding process by our experienced team members, including our Agency Development Consultants. The Agency Development Consultant Team has decades of experience in the insurance industry, providing expertise throughout the onboarding and training process, and continued counsel as our franchisees grow.”
Chris Schmidt, owner of Brightway, The Schmidt Family Agency, had a strong sales background before coming to Brightway, but no insurance or franchising experience. After learning about Brightway’s winning model, he embraced the support and training which helped him grow not one, but two agency offices.
“The franchisor is there to support you from behind the scenes, and that’s where Brightway adds the most value,” said Chris. “Brightway has done a really good job of supporting us as we’ve grown, and we continue to be at the forefront of this unique model they’ve developed.”
Grit and persistence are a given in any industry, but especially one in which obtaining and retaining business is essential. Our best-performing agency owners understand the importance of persistence.
Though insurance is a stable, recession-proof industry, acquiring new business requires a competitive edge, a willingness to get out and connect with the community, and the confidence to position yourself as an insurance expert.
Brothers and agency owners Matt Carlucci, Jr. and Joe Carlucci, II, have experienced some obstacles with market challenges, but both have the persistence, grit and ability to earn customers due to their consultative approach to insurance.
“A lot of insurance agents just quote based on price,” said Matt. “At Brightway, we really try to prioritize quality over price. I talk to my customers about quality coverage and quality carriers to make sure they will be taken care of.”
Similarly, Brightway has persisted and thrived in an industry that has seen many competitors attempt to replicate our model. “We are the originator of the ‘you sell, we service’ model and take our responsibility to each of our agents and customers very seriously,” shared Rick Fox, Brightway’s Chief Revenue Officer. “We take the time to foster a culture of innovation and mutual learning, and we listen to and support our franchise agents at all stages of their growth.”
One unique aspect of Brightway franchise ownership is the opportunity to strengthen the community connections that mean so much to our agents. Offering a product that protects their neighbors’ hard-earned assets has also enhanced many Brightway agency owners’ reputations and success.
Many of our agency owners sponsor events, youth sports, local clubs and affiliates, other local businesses and many more community initiatives. Brightway, The Craig Agency co-owner and retired dentist Dr. Joe Craig volunteers his services at a local clinic. He also makes an annual donation to a local clinic with his son and business partner, Chris, during the holiday season each year.
Two of agency owner Dimitri Apostle’s clients formed a volunteer-led organization, Bright Blessings, which makes a positive impact in the lives of underserved children. In partnership with the Star Outreach program, Brightway, The Dimitri J. Apostle Agency presented a donation to help fund Bright Blessings’ efforts.
Brightway, The Bailey Agency owner Tommy Bailey participated as a sponsor at various community events in Jacksonville, Florida this past year, including the Down Syndrome Association of Jacksonville’s Charity Golf Classic.
Billy Wagner, owner of Brightway, Ponte Vedra Beach, recently created a philanthropic foundation that gives back to the community with the help of his agency team members. “There’s no way I would be able to create my own foundation without Brightway’s influence and support and the support of my team,” said Billy.
If you want to enjoy the benefits of a proven business model; have a tenacious spirit and a drive to reach your goals; and want to build a legacy to call your own, complete this form to get started today!