JWB Insurance Group, LLC | Application Preview
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General Information
Business Registration Number: 81-3460309
Location: Houston, TX, United States
Length of Operation: 11plus
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: $100k to $250k
Open to Loans: YES
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Funding Usage
The funds will be used in the following categories, the purchase of our own office space, where we can run the main functions of the business such as training and enrollment center, our budget for that is 250,000.00; to hire a marketing director with the main functions to recruit new agents and agencies, average salary in the market is based at 130,000.00; our own call center to reach our members and potential prospects, this facility will run from the office space, total investment including equipment 150,000; software for leads and retention, 65,000.00; employees maintenance and management salaries 155,000
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Business Plan
Cost Projections The cost projection for JWB Insurance Group LLC over the next five years includes an analysis of both Cost of Goods Sold (COGS) and Operating Expenses. These are broken down into variable and fixed costs, reflecting the company's operational needs and strategic investments. Assumptions • COGS: 35% of annual revenue, primarily covering agent commissions and payments to insurance carriers. • Operating Expenses: • Fixed Costs: Including rent, salaries, and insurance; projected to increase by 5% annually due to inflation and expansion. • Variable Costs: Including marketing and technology; scaled in proportion to revenue growth. • Revenue Growth: Estimated at 15% annually, reflecting expansion and increased market penetration. • Initial Capital Investment: Not included in annual operating costs; covers startup and expansion costs outlined separately. Detailed Cost Breakdown 1. Cost of Goods Sold (COGS): Calculated as 35% of total revenue, representing the direct costs associated with service delivery. 2. Operating Expenses: • Salaries: Includes payments to staff and management, which are expected to rise as the company grows. • Rent: Cost for office spaces, which may increase as new locations are opened. • Marketing: Includes advertising, promotional materials, and digital marketing campaigns. • Technology: Maintenance and upgrade of IT systems and website. • Utilities and Office Supplies: Regular monthly expenses for running office facilities. • Insurance: Liability and other business insurance costs. • Professional Fees: Legal and accounting services. Analysis • Total Costs: Sum of COGS and total operating expenses. • Annual Cost Increase: Reflects the combined effect of revenue growth and inflation on costs. • Operational Efficiency: As revenue grows, the proportionate share of fixed costs decreases, potentially improving net margins over time. Revenue Projections Base Year Revenue Distribution: • Insurance Commissions: $320,000 • Override Commissions: $50,000 • Consulting and Advisory Fees: $40,000 • Training Programs: $20,000 • Total: $430,000 Year Insurance Commissions Override Commissions Consulting Fees Training Programs Total Revenue 2024 $320,000 $50,000 $40,000 $20,000 $430,000 2025 $368,000 (15%) $55,000 (10%) $48,000 (20%) $22,400 (12%) $493,400 2026 $423,200 (15%) $60,500 (10%) $57,600 (20%) $25,088 (12%) $566,388 2027 $486,680 (15%) $66,550 (10%) $69,120 (20%) $28,099 (12%) $650,449 2028 $559,682 (15%) $73,205 (10%) $82,944 (20%) $31,471 (12%) $747,302 **Assuming the agency reaches its goals for the year ( 550 new apps for Medicare Eligibles ) and the 15% conservative growth our passive override income could exceed 747.302 by the year 2028. With a projected first-year revenue of $430,000 and a robust growth plan, investors can expect a compelling return on investment. By leveraging the founder’s industry connections and the strategic use of funding, JWB Insurance Group anticipates a rapid expansion of its customer base and service capabilities. The estimated return of investment is projected at $3.6 million within three years, driven by aggressive recruiting, training, and an expansion strategy that targets underserved markets. "Our mission at JWB Insurance Group LLC is to provide a unique experience in choosing insurance plans. We become the helping hand that goes above and beyond to assist our seniors, embodying our commitment to heartfelt service. JWB Insurance Group is not just an agency; we are your partner in navigating the complex world of insurance, ensuring you feel supported every step of the way." JWB Insurance Group LLC was founded by Jorge W. Briones, a driven entrepreneur with a profound personal journey that led him to the insurance industry. At the age of 25, while working as a banker at JP Morgan Chase, Jorge was diagnosed with cystic fibrosis, a life-threatening condition that brought him face-to-face with the daunting complexities of the healthcare system. During his recovery, Jorge experienced firsthand the financial and emotional toll of medical expenses, inspiring him to delve deeper into the world of Medicare and insurance benefits. Driven by his own struggles and the difficulties faced by a host family member in affording medication, Jorge saw an opportunity to make a significant difference. His dedication to understanding and navigating insurance systems transformed into a professional calling, leading him to obtain an insurance license and eventually, to establish JWB Insurance Group. We will embrace the concept of service for every single one of our members, providing security to any investors that choose to belive in our core business model.
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Self Identified Competition
The primary competitors for JWB Insurance Group include large national firms that offer extensive Medicare and life insurance products, as well as local agencies that focus on personalized services. Two significant competitors are: Copeland Insurance Group: • Strengths: Extensive network, broad range of products, substantial market presence, and robust financial backing. • Weaknesses: Less personalized service due to scale, potential for slower adaptation to local market nuances. Golden Outlook: • Strengths: Strong brand recognition, comprehensive service offerings, and significant partnerships with healthcare providers. • Weaknesses: May have higher premiums due to extensive overhead costs, possibly less agile in adapting to individual client needs. Competitive Advantages of JWB Insurance Group JWB Insurance Group has several distinct competitive advantages that differentiate it from these competitors: • Personalized Customer Service: JWB's emphasis on personalized, face-to-face service caters especially to seniors who appreciate a more individual approach. • Multilingual Services: Offering services in multiple languages including Spanish, Mandarin, Vietnamese, Portuguese, and Urdu enables JWB to serve diverse communities better than competitors who might not have such capabilities. • Local Market Knowledge: JWB's deep understanding of the Texas insurance market and its regulatory environment positions it uniquely to cater effectively to local residents' needs. • Community Outreach and Education: JWB's commitment to educating its clients, especially in low-income areas, builds long-term relationships and trust within the community.
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