‘What’s it like really like being a Coversure franchisee?’ is a question we get asked by most of our prospective franchise holders. To answer it we spoke to long-term Coversure franchise holder and proud owner of four Coversure franchises, Ali Mimoglu.
How long have you been a Coversure Franchise holder, Ali
I became a franchise holder many, many moons ago in 1997, at the ripe old age of 19!
Wow, that’s young. What was it that made you decide to become a Coversure franchisee – was it the support, the insurance agencies, the products?
Coversure’s level of head office support was key initially in terms of the agencies and products. The insurance industry has changed and evolved a great deal since I joined. Luckily, so has the head office support which has enabled us to grow the business.
And you’re extending your Coversure empire, Ali, what made you decide to take on yet another franchise?
Yes, we recently took over the Coversure office in Watford. It’s an important acquisition for us and it lends itself to our business strategy of profitable growth. In order to achieve this I am constantly on the lookout for new opportunities. Watford works in terms of proximity (Ali already has Coversure franchise offices in Leyton, Thurrock and Forest Gate) and it has solid foundations and phenomenal potential.
Does each office have a particular speciality or do you run each as a community insurance broker?
The Leyton office has always concentrated on the Turkish speaking community, so it’s the only one with a niche. The other offices operate as a community broker. We are lucky that each office has a loyal customer base. We try and enhance the client/broker relationship as well as looking for new prospects.
Have Coversure been supportive of your office growth plans?
The support has been brilliant. Like with most other things in life, the timing has been key. Over the past few years I have noticed that head office has had a renewed emphasis on achieving growth. This has formed a natural fit with the vision I have for my own business and so it has worked remarkably well. Coversure has helped me in identifying possible acquisition targets as well as offering guidance with the negotiations.
You now have Thurrock, Forest Gate, Leyton and now Watford, have you set your sights on any more offices?
Great question. I am always asking myself the same thing! As I mentioned earlier, I am always looking out for new challenges and opportunities. If the right deal comes along – then I will certainly evaluate it.
You’re obviously an advocate of the Coversure Franchise programme. Would you recommend it to other insurance professionals thinking of starting their own brokerage?
Without a doubt, yes. I have also had recent experience of operating independently of the Coversure franchise, so I feel I am in a good position to make a fair comparison. I think the invaluable thing is the support I receive from head office. Whether it is in terms of agencies, marketing, accounts or compliance – having the support provides the platform for me to concentrate on what’s it’s all about: selling insurance and providing a great customer experience.
And what’s the one piece of advice you’d give to someone starting their own Coversure franchise?
That’s a hard question as there are many different bits of advice I would give. However, if I were to pick one it would simply be to be bold. Be bold in terms of what you want to achieve. Be bold in how you go about achieving it
Thank you Ali. And the very best of luck to you in Watford and beyond…
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