- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$29K - $112K
- Units as of 2022
-
57 58.3% over 3 years
Veronica’s Insurance was founded in 2007 by Veronica Gallardo. Since its launch, Veronica’s Insurance believes it has become a leading broker in its industry.
The company is among the top Hispanic companies in the industry, with over 50 active offices around the United States. In total, Veronica’s Insurance covers one hundred million premiums per year.
Veronica’s Insurance offers its clients eight types of insurance services: auto insurance, life insurance, home insurance, commercial insurance, health insurance, motorcycle insurance, renters’ insurance, and boat insurance.
Why You May Want To Start a Veronica’s Insurance Franchise
The ideal Veronica’s Insurance franchisee is a person who enjoys dealing with people and challenging situations. Also, it’s important to be interested in the insurance field. Experience in the field is not necessary to open a Veronica’s Insurance franchise, but you should at least be interested in it.
If awarded a Veronica’s Insurance franchise, franchisees receive a great deal of support from Veronica’s Insurance brand throughout the franchising process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, research, and location construction. They also receive hands-on training and continued support after their franchise location has opened.
Veronica’s Insurance provides new franchisees with multiple hours of classroom training, extended ongoing support, and vast marketing support. The brand may also offer in-house or third-party financing that could help cover startup costs, equipment, and the franchise fee.
What Might Make a Veronica’s Insurance Franchise a Good Choice?
Veronica’s Insurance has been ranked in Entrepreneur’s Top New Franchises. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
Opening a Veronica’s Insurance franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
How To Open a Veronica’s Insurance Franchise
To be part of Veronica’s Insurance team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. You should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees.
Veronica’s Insurance is currently looking for new franchisees all over the United States and has exclusive territories available. Veronica’s Insurance can be run part-time and from home or a mobile unit. Before making any financial commitment or signing an agreement, you may want to speak to existing franchisees and ask Veronica’s Insurance franchising team questions.
As you decide if opening a Veronica’s Insurance franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if Veronica’s Insurance franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a Veronica’s Insurance franchise.
Company Overview
About Veronica's Insurance
| Industry | Financial Services |
|---|---|
| Related Categories | Insurance |
| Founded | 2007 |
| Parent Company | Veronica's Insurance |
| Leadership | Raul Dominguez, COO |
| Corporate Address |
3998 Inland Empire Blvd. Ontario, CA 91764 |
| Social | Facebook, Instagram, YouTube |
Business Overview
| Franchising Since | 2020 (4 years) |
|---|---|
| # of employees at HQ | 460 |
| Where seeking |
This company is offering new franchises throughout the US. |
| # of Units | 57 (as of 2022) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Veronica's Insurance franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$15,000 - $25,000 |
|---|---|
|
Initial Investment
|
$28,700 - $111,600 |
|
Royalty Fee
|
15%/25% |
|
Ad Royalty Fee
|
2% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| In-House Financing | Veronica's Insurance offers in-house financing to cover the following: franchise fee |
|---|---|
| Third Party Financing | Veronica's Insurance has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment |
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| Classroom Training | 35 hours |
|---|---|
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | Yes |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
Yes |
|
Can this franchise be run part time?
|
Yes |
|
Are exclusive territories available?
|
Yes |
Additional Rankings
Curious to know where Veronica's Insurance ranked on other franchise lists? Find out below.
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