I'm partnering with a licensed insurance agent to open an Allstate agency in Michigan in the second half of this year. I am not, nor plan on getting licensed. I'm investing the $75K+ required by Allstate to startup the agency. Can a separate business entity own the agency? What are my options? Thanks in advance!
I'm not sure why you would front all the $ and have someone else the one who earns the commission. The producer (licensed agent) has all the leverage.
What is the $75k buying? An existing book?
Answered 9 years ago
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