Nationwide Insurance vs Brightway Insurance Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Nationwide Insurance vs Brightway Insurance including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees

 
Nationwide Insurance Franchise
Brightway Insurance Franchise
Investment $25,000 - $50,000$18,100 - $173,500
Franchise Fee N/A$5,000 - $60,000
Royalty Fee -up to 50%
Advertising Fee --
Year Founded -2003
Year Franchised -2007
Term Of Agreement -5 years
Term Of Agreement -5 years
Renewal Fee --


Business Experience Requirements

 
Nationwide Insurance Franchise
Brightway Insurance Franchise
Experience --

Financing Options

 
Nationwide Insurance Franchise
Brightway Insurance Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees -/--/Yes
Start-up Costs -/--/Yes
Equipment -/--/Yes
Inventory -/--/-
Receivables -/--/-
Payroll -/--/-

Training & Support

 
Nationwide Insurance Franchise
Brightway Insurance Franchise
Training - On-The-Job Training: 120 hours Classroom Training: 64 hours Additional training
Support -Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software
Marketing - Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing
Operations -Absentee Ownership Allowed

Number of Employees Required to Run: 3


Expansion Plans

 
Nationwide Insurance Franchise
Brightway Insurance Franchise
US Expansion -Yes
Canada Expansion --
International Expansion --

Company Overviews

About Nationwide Insurance

NO LONGER FRANCHISING

Have you dreamed of starting a business? If you've dared to even think about starting your own business, you undoubtedly have the drive and skills it takes to do it. Still, you may have found yourself wondering:
Do I have enough experience?
Do I really have the resources?
Nationwide Insurance offers several agency programs that help match you with challenging, yet rewarding opportunities to determine your destiny, income potential and career growth. We offer a competitive base salary, plus bonus and commissions that can put you in the driver's seat.
Why Nationwide? When you choose to work with Nationwide, you choose more than an insurance company:
History and reputation. You join a Fortune 200 company that's been hard at work since 1925 and is known today as one of the world's largest insurance and financial services companies.
Security. You have an A.M. Best A+ rated company behind you, with a proven track of excellence, more than 16 million policies and 35,000 associates.
Choice. You have access to a wide variety of products and services that will help you meet the diverse needs of your customers.

How it works?
Applying. After a few interviews, you'll have the opportunity to spend a day in an agent's office, so you get a firsthand view of what a Nationwide agent's day-to-day career is like. Then we'll work together to decide if the program is right for you.
Starting out. You'll work as an employee in an established Nationwide office for 6- 24 months. During this time we offer a competitive base salary, plus a performance-based bonus and commissions.
Moving forward. After successfully completing the program, you'll be eligible to participate in a more advanced agent program, which will allow you to work more independently. And because we know that launching a new business can be costly to get started, the advanced agent programs are supplemented by additional financial resources for which you may be qualified.
What you get?
Management and marketing support. You need a team to run a business well. That's why we provide you the support of a sales manager, technical trainer, financial services specialist and/or sales support specialist-all people who will help you do what you do better. We also help you to spread awareness of your services through advertising and other marketing support.
Compensation. To make owning a small business worth the investment, it needs to be rewarding-and that's why we offer an attractive compensation structure with a base salary and performance-based bonus and commissions.

About Brightway Insurance

Brightway Insurance has redefined how independent agents grow and profit. Our innovative franchise agency model allows you to sell more policies, retain more customers, and earn more profit. You'll be able to give your customers the best coverage options from a variety of our nationally-backed insurance carrier partners. Finally, a better way to run an insurance agency.
Three Ways to Win
1. Agent Conversion - Receive multiple liquidity events, one now and one later, when you convert your existing agency into a Brightway branded franchise. Doing so allows you to implement an effective perpetuation plan while receiving all the benefits of being an Associate Agency Owner with the #1 Insurance franchise in the nation.
2. Agency Conversion/Sale - If you are looking to sell your agency, Brightway is the answer. Through a single liquidity event, we will help execute on your perpetuation plan with honesty and integrity. Whether you are looking forward to retirement or a new opportunity outside of insurance, we are the solution to help make it a reality.
3. New Franchise Ownership - Open a Brightway franchise in an existing market, or lead our expansion efforts in one of the many new territories now available across the country.

The total investment necessary to begin operation of a single Brightway retail franchise is $98,300 to $175,000. This includes a $60,000 initial fee that must be paid to the franchisor or its affiliate(s).
Additionally, the franchisor offers franchisees the right to operate a Brightway franchise from a professional office space. The total investment necessary to begin operation of a single Brightway franchise from a professional office space is $58,000 to $93,750. This includes a $40,000 initial fee that must be paid to the franchisor or its affiliate(s).

Veteran Incentives  10% off franchise fee
"Top                      "Entrepreneur
#52 in Gator's Top franchises. 
                
"franchiserankingscom"
#34 on Franchise Rankings.com
#254 in Franchise 500 for 2020.
#190 in Franchise 500 for 2021.