Insurance Franchise from Coversure

FAQs

Q. How much does it cost to setup a franchise?

A. The initial cost of our franchise is £20,000 plus VAT

Your investment will provide you with the very best facilities at the lowest possible cost, and your £20,000 plus VAT will give you :

  • A five year Franchise Contract including access to our products, systems and processes, and outlining your territory
  • The first three months computer service costs and PI
  • One off Software User Licences for 2 System Users
  • An initial marketing campaign, up to the value of £3,000 tailored to suit your business plan
  • Start up Printed Stationery Pack consisting of 10,000 Letterheads, 1,000 Compliment Slips, 500 Business Cards, 2 Bank Paying in Books and 2 Receipt Books
  • 2 Bin Laser Printer and Network Card
  • System Installation
  • Initial Training including System Use, Accounts, Credit Control, Compliance and Marketing
  • Agency Support Including Comprehensive On-line Manual
  • BIBA Membership

Q. What are the day to day costs I should expect?

A. One of the key secrets to running a business is a full understanding of your cash-flow. Click here to see our cost breakdown and some helpful downloads.

Q. Can I have more than one franchise?

A. Yes, indeed, although we would recommend that you make a success of your first franchise before buying a second. We expect our franchisees to play a leading role in their businesses.

Q. Will clients remain my property?

A. At Coversure you will own the business and take services and facilities from us through a franchise agreement. The clients therefore are your clients. They may object to being "owned" of course.

Q. Will I have my own Web-site?

A. Yes, you will. It will be linked to the head-office site, because all leads and sales emanating from our site are distributed to the appropriate office.

We will work on optimising the sites, and encourage branches to do the same.

Some examples of our branch sites include:

  • Huntingdon
  • Kennington
  • Bideford
  • Oxford

Q. Why do you want applicants with insurance experience?

A. Our franchisees own and run independent regulated businesses. While we will offer compliance and regulatory advice it is you, the franchisee that talks to clients. It is important to us that Coversure clients receive professional advice.

Q. Can I sell the business?

A. Provided we are happy with the new proposed franchisee, then yes, you can.

Typically businesses are sold to existing Coversure Franchisees looking for expansion.

Ultimately, you can demand that we buy it back from you, and the arrangement for this is outlined in your franchise agreement.

Q. What support will I receive?

A. Your success is our success and we will work with you to help make the business a success.

  • Training - Systems and products provided by head office and Broker Assess
  • Marketing and PR - Support provided both directly and indirectly
  • HR - Contracts and advice
  • Compliance - Visits, advice help

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