Fortis Multi-Service Agency, LLC | Application Preview
Fortis Multi-Service Agency, LLC is seeking government grants to support its growth initiatives. The funding will primarily be allocated towards hiring an additional customer service representative dedicated to enhancing sales efforts. It will also facilitate increased advertising through radio, as well as the production of new signs, flyers, and banners designed to attract new clients. The agency operates from a strategic location on York Rd in Towson, MD, which is expected to provide significant visibility.
The business plan outlines a targeted sales goal of $20,000 per week, equating to approximately $960,000 in annual insurance sales, with a retention rate of 90%. Fortis aims to expand its book of business to $4.32 million over the next five years. Income from insurance commissions varies between 7-18%, depending on the products and carriers involved. In addition, the agency plans to recruit a team of 10 real estate professionals, offering a 15% commission split to incentivize collaboration and growth.
The application emphasizes Fortis's 16 years of experience in the insurance sector and 7 years in real estate, highlighting the agency’s unique multi-service capability to protect clients' financial futures while facilitating real estate ownership. The competitive landscape includes other Insurance Brokers with more resources for staffing and advertising.
Fortis’s competitive advantage lies in its commitment to relationship-driven business practices. Approximately 90% of its clientele is acquired through referrals, fostering a trustworthy connection within the community instead of relying solely on mass advertising. The agency plans to replicate this successful model with new hires, ensuring quality and maintaining strong client relationships.
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General Information
Business Registration Number: 881244760
Location: Owings Mills, MD, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
The funding will be used as working capital to hire another customer service representative to focus the business towards sales, it will also help us with more advertising via radio and to purchase new signs, flyers, and banners to attract more new clients. Our office is located in York Rd, in Towson, MD, we will get a lot of exposure from there.
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Business Plan
We have a weekly goal in sales of a minimum of $20,000 per week, $80,000 per month x12 would be around $960,000 in insurance sales per year, and we will work on retaining a minimum of 90% of that business, since insurance companies pay residual income, our plan is to grow our book of business to $4,320,000 in the next five years assuming we retain 90% of the business. Insurance commissions can go from 7-18% depending on the product and the carrier. We will also aim to recruit a team of 10 Real Estate professionals and we will have the systems to help them grow in the business, our agency split commission agreement will be 15% to motivate agents to work with us. We have 16-years experience in the insurance industry, and 7 years of experience in the Real Estate industry, and our agency is a multi-service, we are licensed to do both services and to help our clients own Real Estate and to protect their families financial future with our professional insurance services.
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Self Identified Competition
Other Insurance Brokers with more working capital to hire more employees and to pay for more advertising and networking events. We have a relationship driven business, 90% of our client come from our clients, we have build a trust based relationship with our communities, instead of doing mass advertising, we focus on the word of mouth referrals. that creates a more loyal clientele to your own personal brand. Also, our goal will be to duplicate that model with every hire, so we will keep a close eye on the quality of the team.
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Contact Applicant
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