Farmers Insurance Agency - Acquistion Opportunities

Farmers Insurance • Albuquerque, NM 87101

Posted 1 month ago

Job Description


Job Description:

Farmers is interested in entrepreneurial-minded individuals who want be their own boss and run a business with unlimited earning potential. At Farmers, we give you a unique opportunity to "Build or Buy" an agency. We also have the award winning University of Farmers to help train and support you and your staff. There are great benefits to becoming a Farmers agency owner including ongoing commissions for every active policy. Farmers has introduced two entry points for new agency owners to take over an existing book of business (Seed & Acquisition Program)

Seed Program:


The Seed program is a unique and powerful succession planning tool that provides you the ability to transfer partial commission rights of existing policies to qualified external candidates with the ability to earn full commission rights. The candidate receives the benefit of immediate revenue without the cost of acquisition.

The Candidate

  • Proven background in the business environment; either managing or building, etc.
  • The desire to build and grow a residual income business opportunity

Self-Motivation and Independence

  • Effective time-management skills and self-reliance to accomplish goals
  • The ability to identify and focus on priorities

Communication Skills

  • The ability to inspire as well as listen and learn from others
  • Leadership and people management skills

Performance

  • The motivation to work hard and take risks to achieve financial success
  • The willingness to accept responsibility for personal success and failures

The Benefits


Earning Full Commission Rights

  • Immediate ability to cross sell policies and earn full commission rights
  • Ability to purchase full commission rights after 2 years

Contract Value

  • Ability to earn Contract Value after 5 Years

Sale of Service and Commission Rights

  • Ability to sell service and commission rights after 5 years

Office Start-up Bonus Program

  • Up to $10,000 bonus to reimburse office startup expenses

Acquisition Program


The Agency Acquisitions program provides lucrative financial incentives to capitalized external candidates that purchase the service and commission rights from existing Farmers Agents. The candidate receives the full service commissions upon acquisition.

The Candidate

  • Proven background in the business environment; either managing or building, etc.
  • The desire to build and grown an existing business
  • Decisions made with ROI and cash flow in mind

Performance

  • The motivation to work hard and take risks to achieve financial success
  • Willing and able to make investments into business opportunities for future gain
  • The willingness to accept responsibility for personal success and failures

The Benefits


Economic Interest

  • Vesting ? Contract Value vested 20% per year for 5 years

Office Start-up Bonus Program

  • Up to $10,000 bonus to reimburse office startup expenses

Monthly New Business Premium Bonus for Acquisition under 1,000 Policies in Force

  • Bonus % paid on monthly new business Agent Eligible Premium or Policies in Force
  • All agents start at baseline bonus level for first quarter and then tiers are determined by prior quarter performance
  • Monthly bonuses paid on Life and Commercial premiums subject to caps

Requirements


The qualified Insurance Sales Agent candidate will have at least a high school diploma, although a college degree is preferred.

The ideal Farmers Agent will also have:
? Sales and/or customer service experience
? Excellent communication skills both written and verbal
? Entrepreneurial spirit with a fearless and positive attitude
? Self-motivation and goal-orientation
? Strong organizational, time management and follow-through skills
? Desire to continually learn new products and services
? Desire to be active in the community
? Good credit history with no bankruptcies for the past 3 years.
? A favorable criminal record - no Felonies

Licensing Requirements

  • Obtain Property & Casualty License
  • Obtain Life & Health License
  • Obtain Series 6 License
  • Obtain Series 63 License



 


  • High School degree
  • Satisfactory Background check
  • Capital requirement
  •    

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