Franchise ownership is on the rise, making the niche a good growth opportunity for independent agents and brokers. But experts warn that the need to intimately know and understand the client's business is even more critical when placing coverage for franchises, associations or affinity groups.
“Many franchises and association program attempts fail, most often due to a lack of identifying the real needs and wants of the members,” said Vincent Stazzone, executive vice president of Williams and Stazzone Insurance Agency, which specializes in franchise systems and trade associations in the automotive and food and beverage industries.
State of the Market
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