Brightway Insurance

  • Brightway Insurance, Inc.
3733 W. University Blvd., # 100
Jacksonville, FL 32217
USA
  • (855) 723-5348 / (904) 764-9554
  • (904) 764-9517 (Fax)

Brightway Insurance is a national property/casualty insurance retailer selling through a network of franchised independent agencies throughout the country.

The Brightway system features “centralized service.” Insurance store owners, or franchisees, focus on selling new policies while other needs, including Customer Service, are handled by the Home Office in Jacksonville, Fla. As a result, Brightway agents consistently outsell their independent agent counterparts.

Brightway has been named:
• No. 1 Franchise to Buy by Forbes in the company’s investment category
• “Best Place to Work” 9 times since 2008 by leading Florida publications
• One of the Fastest Growing Privately Held Companies in the Country 7 years in a row by Inc. Magazine
• A Top 500 Franchise by Entrepreneur Magazine and
• A Top 50 Franchise by Franchise Business Review

Franchisor Background

Year Established: 2003

Franchising Since: 2008

Operating Units

Franchised Units 115 98.3%
Company-Owned Units 2 1.7%
Total Operating Units 117 100%

Geographic Distribution

USA 117 100.0% In 13 States
Canada 0 0.0% In 0 Provinces
International 0 0.0% In 0 Foreign Countries
Total 117 100%

Multi-Unit Operators

Multi-Unit Operators N/A
Franchises Owned by Multi-Unit Operators N/A

North American Unit Density

Density Units
Florida 103
North Carolina 3
Texas 2

Registered in the following Registration States

California, Florida, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, Wisconsin, District of Columbia

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Support and Training

General Information

IFA Member Yes
CFA Member No
Franchisee Association? No
Size of Corporate Staff 220
Site Selection
Assistance
Yes
Lease Negotiation Assistance No
Financial Assistance Yes, Indirect

Marketing Support

Co-Op Advertising Yes
National Advertising No
Regional Advertising Yes
Local Advertising Yes
Marketing Materials Ad Slicks, Brochures, Coupons/Rebates, Direct Mailers, Emails, Promotional Items, Site Signs
Additional Services: Grand Opening, In-House Marketing, Newsletter, Press Releases, Sales Strategies

Ongoing Support

Central Data Processing Included
Central Purchasing N/A
Field Operation Evaluation Included
Field Training Included
Initial Store Opening Included
Inventory Control N/A
Franchisee Newsletter Included
Regional or National Meetings Included
800 Telephone Hotline Included

Training

Jacksonville, FL 1 Week
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Financial Requirements

Investment

Minimum Net Worth $250K
Cash Investment $115-181K
Total Investment $115.2-181K
Average Total Investment $148K

Fees

Initial Franchise Fee $50-60K
Average Franchise Fee $55K
On-Going Royalty 15%-45%
Average Royalty 30%
Advertising Fee 0-3%

Site Information and Requirements

Average Number of Full-Time Employees 3-5
Average Number of Part-Time Employees 0
Space Needs (in square feet) 1000
Preferred Site Types Storefront
Encourages Conversions Yes
Item 19 (Earnings Claim) Provided? No
Listed in the SBA Registry? No
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Franchisee Qualifications

Financial Net Worth 5
General Business Experience 5
Specific Industry Experience 2
Formal Education 2
Psychological Profile 5
Personal Interviews 5
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Terms of Contract

Term of Initial Contract 5
Term of Renewal Period 5
Passive Ownership? Allowed, but discouraged
Area Development
Agreements?
No
Sub-Franchisor
Contracts?
No
Franchisees Allowed to Expand Within Territory? Yes
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Expansion Plans

Projected New Units Over Next 12 Months 30
USA Yes
Canada No
Overseas No
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Request Information for Brightway Insurance

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