Business Plan For Insurance Agent

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The summary of the initial sales forecast indicates a first year revenue of $193,996 increasing to $233,350 by the end of the second year, then $277,427 by the end of the third year.

It should be noted that although sales increase each year, all revenue has been forecasted very conservatively for the three year forecast.

The following is a summary of the main points of this plan.

In conclusion, as shown in the highlights chart below, this plan projects rapid growth over the next three years with a profit forecasted in the second year of operation and continuing into future years of operation.

Agency is in the process of being formed as an insurance agency owned and operated by State Farm.

This plan is written as a guide for financing, start-up and management of this new agency and will also serve as the basis for measurement.Implementing this plan, will ensure that State Farm/ Sample Agency becomes a profitable venture.Sample Agency is dedicated to providing insurance products and business services that provide high quality, protection, and value pricing.For the first year the employee base will be the agent, Cindy Scott plus an office manager and sales agent assistant.In May of 2007 the financial forecast supports the hiring of an insurance agent assistant to help increase the growth of the business.Agency's competitive edge is our positioning as strategic ally with our clients, who are clients more than customers.By building a business based on long-standing relationships with satisfied clients, we simultaneously build defenses against competition.The available market share of 77% represents the estimated market that State Farm Insurance has not captured at this time.Although, the entire state is an available marketing area, the Stark County area will be the focus marketing area at this time. This can be used for determining the market for accounting and bookkeeping services and commercial lines of insurance including property and casualty, retirement and workers compensation.Agency financial plan is based on obtaining a signing bonus by May of 2008 of ,000 to cover the start-up expenses.In May of 2008 an additional ,500 in financing will be required to ensure business operations, marketing and stability during the first year of operation.


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