Anyone here an insurance agent?

[forgop]

Originally Posted by cbsmokin

I actually listened to the "become an agent" call the other night. As stated you can start your own agency if you have $50k liquid and your series 6 and 63 licenses. You can also buy out someone else's business for whatever they want for it, but you still need the 50K on top of it. Seems like a hefty investment to only retain 10% of policy premiums. It must be worth it though or people wouldn't do it.

Here's the deal...within the next month, I'll be auctioning off some farm ground and would expect to have plenty of cash to make an investment into something like this ($50k would be no problem in addition to having no personal debt for a mortgage, student loans, car payments, etc). I would prefer to start up my own company than ever having to go to work for someone else again if I could. One of the things I considered doing with this money was looking into a franchise of some sort, but I wasn't sure of the industry to get into.

Is the 10% the only amount retained for the entire office? Just curious in case I ever got to the point of having a salesman and a secretary.