1. The insurance franchise industry covers more than the typical thought of car and home insurance business. While the insurance industry does include automotive and home insurance franchises, it is also broader reaching to restoration cleaning businesses, commercial and business insurance, and medical insurance practices.
2. Insurance franchises fall under the broader scope of financial services franchises, and those that work closely with businesses and corporations fall under the even broader scope of B2B and business services franchises.
3. The automotive insurance industry is a hot industry. 79% of adults in the United States require car insurance, and many businesses that are mobile and van-operated will also require special licensing and insurance in order to operate and allow employees to drive company vehicles. Insurance franchises can help businesses navigate confusing and time-consuming regulations and find the best deal that suits their automotive insurance needs.
4. Insurance relates to coverage for individuals and companies in the event of a loss, like damage or theft. Restoration cleaning is a growing industry in the insurance sector that come in after the damage has been done. Restoration franchises see people at their most vulnerable, when their homes and businesses have been destroyed by natural disasters, fire, mold, and more.
5. Insurance franchises are a people-centric business. A company is prized possession for business owners, and while insurance does not prevent against disaster, it does provide some peace of mind that if something happens, the business owner will not lose everything. Insurance franchise owners should be prepared to work on tough issues with such a personal impact for their clients.