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How to write a business plan step by step

Ready to become a business owner? Follow these steps for creating a business plan.

Woman entrepreneur working on a business plan outline on her laptop.

A new business — of any size or structure, no matter the type of product or service — needs a roadmap to get itself underway and connect with customers. But without a plan on paper (or in a file on your computer), the idea is just that: an idea. Create a business plan to take that brilliant business ah-ha out of your head and put it into a form that others — including potential investors and business partners, banks who may lend you money, and potential employees — can consume, question and ultimately buy into.

Learning how to make a business plan doesn't have to be hard. A business plan helps you get organized, tap into your ideal market, dive deep into the competition and examine your financial situation for the tenuous but important first couple of years. And you can do all of this without months of work.

Whether you use a traditional or a lean plan format , each contains roughly the same elements — and these elements are the most time-consuming portion of developing a business plan. In many cases, your lean plan or the executive summary of your traditional plan is your business' first impression — be sure to put in the time and energy to make it shine. So, do the research, hash out the numbers and know your audience . Avoid getting into the weeds with language that caters to industry insiders (unless that is your audience) and instead keep your message clear, concise and presented in everyday, easily digestible verbiage. Remember: Keep it simple and brief .

A Traditional business plan

This is the order of topics in a traditional business plan:

Step 1: Executive summary: The executive summary is the most important part of your plan – a one-page summary of the entire business plan. And it will probably be the part of the business plan that you circle back to and write last.

Step 2: Description: The why — your company's purpose. It will include your mission statement, the name of your company and a brief description of the service or product that you will offer.

Step 3: Business goals: What are you going to accomplish — today and tomorrow? Then explain how you are going to reach those goals — your strategy.

Step 4: Market analysis : Research the industry, market and competitors. Where is the opportunity for your product? For growth? Who is your target customer? How can you do it better than the competition?

Step 5: Organization and management : Describe your business' legal structure, location and history. Don't forget to talk about your team and what positions you'd like to hire in the future. Include your Business Model, which describes how you make money and identifies your revenue streams. Then include your Target Market, basically your customers, the channels you'll use to reach them and the interactions you'll have.

Step 6: Products and services: What is the "problem"you are trying to solve by selling your product or service? How will your product or service benefit your customers? Explain any research you've done or will do.

Step 7: Marketing and sales: Develop plans to attract and retain customers — promotion, advertising, public relations, content marketing and social media. You also need to lay out how operations and distribution will work and set milestones and metrics for success. Finally, investigate your Competitive Advantage and identify key strategies, such as selling direct to consumers or using technology.

Step 8: Funding request: Outline your funding needs for the next three to five years, including projections of income, expenses, cash flow and budgets. Present details about how the money will be used. Include financial projections showing how your business will be financially successful. Providing a Financial Summary outlining expected expenses and a cost structure can help establish stability in your business.

Step 9: Appendix: Use this section for additional information such as product images or illustrations and supporting documents such as permits, patents, contracts, etc.

Lean business plan

In many cases, a business plan can be written on just one page. Known as a lean plan, it creates a summary of the key elements of your business that can be presented in bullet points.

The lean plan may be all you need — and is a great way to get your foot in the door — but be ready for lenders and investors to ask for more detailed information or a presentation. This is where a pitch deck might come into play. If you plan to request financing from traditional sources — banks, investors, business partners — you'll need every element in a traditional business plan, detailed above.

If you still have questions, you'll find examples and templates, calculators and detailed information about planning, launching, managing and growing your business through the U.S. Small Business Administration (sba.gov). You can also search for a local SBA office and partners for in-person assistance. Finally, build a network and continue to develop resources that you'll need.

Update your business plan regularly

You are creating a tool to help run and grow your business, and it should be updated as things change. Think of it as a strategic planning document for short- and long-term goals, expenses and targets — all of which change over time.

Read more articles about operating, insuring and protecting your small business.

Neither State Farm® nor its agents provide tax or legal advice.

The information in this article was obtained from various sources not associated with State Farm® (including State Farm Mutual Automobile Insurance Company and its subsidiaries and affiliates). While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. State Farm is not responsible for, and does not endorse or approve, either implicitly or explicitly, the content of any third party sites that might be hyperlinked from this page. The information is not intended to replace manuals, instructions or information provided by a manufacturer or the advice of a qualified professional, or to affect coverage under any applicable insurance policy. These suggestions are not a complete list of every loss control measure. State Farm makes no guarantees of results from use of this information.

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Business Plan for Investors

State Farm Agent Business Plan Template

NOV.11, 2021

Business Plan for State Farm Agent Template

State Farm Agent business plan for starting your own business

A thoughtful business plan is required to build a successful insurance agency. Are you planning to start your insurance agency? For that, you need a well written and well-thought business plan.

The insurance agents, also known as insurance sales agents are involved in a variety of things. These include life insurance, property insurance, health insurance, long-term care insurance and disability insurance.

If you are interested to start a business in this industry and to know how to start a state farm agency, continue to read this state farm agent business plan. Just like our previous business plan for ecommerce , we have mention all the required steps to start your business.

No matter if you want to write indoor shrimp farm business plan , business plan for farmers market , oyster farming business plan , landscaping business plan , pig farming business plan or mushroom growing business plan , you can use this template for all kinds of purposes.

Executive Summary

2.1 the business.

Lifeline Insurance Company will be a registered general insurance company in New York. It was incorporated under the law of the US as a private Limited Liability Company.

We plan to transform into a Public Limited Liability Company in the future. So that we can get listed on the Stock Exchange of New York.

When starting a state farm agent business, you should be aware of becoming a state farm agent pros and cons. Also, similar to the landlord business plan , it is important to mention the management, customers and target of the business.

2.2 Management of State Farm Agent Business

When writing a state farm business proposal, it is necessary to plan everything before starting the business.

Lifeline Insurance Company will work on making its management strong that can support the growth of the company. We will make sure that we hire highly qualified and experienced people to help us in building the dream company.

The management body of our company mainly comprises the CEO, head of claims and premium collection, marketing executive, HR manager, accountant and customer care representatives.

2.3 Customers of State Farm Agent Business

The Lifeline insurance company will target small businesses and medium-sized businesses in and around the heart of the US – New York City. We will also make efforts to grow and sell our insurance policies in the other cities of the US as well.

Our customers will be from the US and other countries from the world. We have listed down the customers that we have designed our services and products for

In state farm agent business plan example available online, you can find many other customers that an insurance company has.

2.4 Business Target

We plan to make the most out of state farm agent signing bonus. We are optimistic to become one of the most popular insurance companies in New York in the next 5 years.

Our primary goal is to cover all the investment in the next 3 years of our launch. Our secondary goal is to ensure that our customers are satisfied with our services and they get their claims when due without unnecessary delays.

We want to get included in the list of companies who are generating large revenue and are most trusted by people.

State Farm Business Plan - 3 Years Profit Forecast

State Farm Business Plan – 3 Years Profit Forecast

Company Summary

3.1 company owner.

Neil Fred will be the CEO of Lifeline Insurance Company. He will be responsible for providing direction to the business. Neil completed his degree from the University of London in Insurance and then decided to start his agency instead of doing a job. Neil knew that this industry is global and wide and he can make a lot out of it.

Keeping in view all these points, he decided to start a state farm agency program. He worked on all the things required for opening a state farm agency. He got the personnel and financial plan required in starting a state farm agency.

3.2 Why the State Farm Agent Business is being started?

Neil made research on the insurance market and got an idea of the profit he can make from starting a general insurance company. This business is a kind of business that never goes into loss. He first thought to start an insurance company in a specialized area.

Later when he realized that he can excel in the general market, he decided to open a general insurance company. Remember, in any state farm business plan sample, it is necessary to mention why and how the business is started.

3.3 How the State Farm Business will be started?

Starting an insurance company can be challenging. It is never easy to break into the industry. The insurance business is a business venture that is recession-proof and can stand the test of time. We have listed down the important steps you need to take to open your insurance business.

Make a research

If you do not have experience working as an insurance agent, it is important to have a thorough understanding of the insurance industry. Before you step into the world of insurance, make sure that you understand the necessary terms and concepts. When you completely understand the insurance products, terms, management skills, and sales savvy, you will be able to run this business successfully.

A business plan is required

Before starting any kind of business, a strong and well-thought business plan is required. Your business plan will decide how you are going to get the clients and how will you differentiate yourself from other insurance companies. When you write a business plan for your business, you will get a direction and vision for your business.

Get a license

To start an insurance company, you need to get a license. If you are planning to open an insurance company in the US, you need to get a license from the Association of Insurance Commissioners. This step is time-consuming but without it, you cannot start an insurance company.

Secure Financing

Certain factors decide how much investment you need to start an insurance business. These factors include your location, business model and more. People who are working independently with no or few staff members will have minimum expenses to cover. While larger agencies need more money to start and run their businesses.

Access to Insurance Carriers

To sell insurance, you need to get in contact with the insurance carriers. The insurance carriers affiliate themselves with the insurance companies that want to sell their products.

Promote the business

After you have made a strong business plan, got a license, secured your financing and affiliate yourself with the insurance carriers, the last but not the least step is to promote your business.

State Farm Business Plan - Starup Cost

In the state farm agent business plan, it is necessary to mention all the services that your insurance company will provide.

When you open a state farm agency, you list down all the services you want to offer to your clients. When Neil was planning to start a state farm agency, he decided to provide the following services:

These services vary from state farm business to business.

Marketing Analysis of State Farm Agent Business

In the state farm business plan for new agents, the marketing analysis is necessary to mention. Neil wanted to get through this step smoothly so he got the services of marketing experts.

To start and run a successful business, solid state farm agent business plans are required. In all the state farm business plan examples, you will find this important part of the marketing analysis of a business.

No one can deny the importance of marketing analysis because whether the business is going to fail or succeed heavily depends on it. Marketing analysis forms the basis of many important decisions and steps in running a business. The state farm marketing plan include market trends, market segmentation, business target and product pricing.

5.1 Market Trends

The US has the largest number of insurance companies in the world. In a research made in 2013, the total gross premium on a global scale was 4.640 trillion US dollars, out of which 1.274 trillion was only written in the US. This figure shows how big the insurance market is in the US.

One common trend in the insurance industry is the existence of small insurers as single corporations. They partner up with holding companies. It has a lot of benefits because the survival of single insurance companies after turbulence is pretty low.

5.2 Marketing Segmentation

In the insurance industry, markets are segmented into different groups. The products or services offered by an insurance company are tailored to match the needs of the client. The advantage of marketing segmentation is to help the insurance organization identify the needs of their customers.

The marketing segmentation for our insurance company will be following:

State Farm Business Plan - Marketing Segmentation

State Farm Business Plan – Marketing Segmentation

Household sector

The household sector will include retired and self-employees and salaried staff.

Corporate sector

This sector will include big and small businesses.

Industrial sector

The industrial sector will include industries and manufacturers.


This sector includes all kinds of organizations and institutions.

5.3 Business Target

The state farm mission statement includes the business target that a company aims to achieve. The business target of Lifeline General Insurance Company is to become one of the top companies in the US.

excellent work

excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!

We aim to expand our state farm insurance franchise to other cities of the US as well. We are optimistic to cover all of our investment in the next 5 years of our launch.

5.4 Product Pricing

In the insurance industry, there is an established trend in pricing the products. Pricing the products and services depends upon the risk involved in the insurance policy covers. This calculation is done by the experts who keep in view all the aspects and then give the pricing.

The Lifeline Insurance Company will sell its insurance products and services at a low rate as compared to other insurance companies in town to increase our sales and customers.

Marketing Strategy for State Farm Agent Business

In every state farm agent business plan sample, you will find the marketing strategy because it is an important component in every state farm agent business proposal.

To make your insurance business run successfully, aggressive marketing is extremely important. It is why there are always men and women selling their insurance cover to people.

To survive in this industry, you need to be prepared to spend a lot of money on marketing and advertising your business to promote your products. There should be a strong marketing team that come up with unique and innovative ideas that can catch the attention of potential clients.

6.1 Competitive Analysis

The insurance market has become much more competitive over the last ten years. To survive in this industry, you have to be highly proactive, creative and customer-centric. Neil was aware of this high competition and he was prepared to compete among the leading insurance companies in the US.

From marketing managers to social media managers, a strong team is required to run an insurance business successfully.

6.2 Sales Strategy

6.3 Sales Monthly

State Farm Business Plan - Sales Yearly

State Farm Business Plan – Sales Yearly

6.4 Sales Yearly

State Farm Business Plan - Sales Yearly

6.5 Sales Forecast

State Farm Business Plan - Unit Sales

State Farm Business Plan – Unit Sales

Personnel plan

In state farm agent business plans, an important part is the personnel plan. To open state farm agency, it is crucial to plan everything before the launch. Like in every state farm business plan proposal example, the personnel plan is an important step as it affects the decisions and success of any business.

The success and reputation of any business depend mainly on the staff and management of that company. The more loyal management, the more successful the business is. The personnel plan contains detailed information about the number and types of people who will work in a company. The advice of HR experts is vital to take at this step to make important decisions.

7.1 Company Staff

Neil Fred will be the owner and CEO of Lifeline Insurance business. The following people will be needed to run our company

7.2 Average Salary of Employees

Financial plan.

The next step in state farm business plan is the financial plan. Like a personnel plan, it is also a crucial step in making any business plan. Like in all state farm business plan example, the financial plan covers all the points regarding the company expenses. It also includes the cost to start a business.

8.1 Important Assumptions

8.2 break-even analysis.

State Farm Business Plan - Break-even Anlysis

State Farm Business Plan – Break-even Anlysis

8.3 Projected Profit and Loss

8.3.1 profit monthly.

State Farm Business Plan - Profit Monthly

State Farm Business Plan – Profit Monthly

8.3.2 Profit Yearly

State Farm Business Plan - Profit Yearly

8.3.3 Gross Margin Monthly

State Farm Business Plan - Gross Margin Monthly

State Farm Business Plan – Gross Margin Monthly

8.3.4 Gross Margin Yearly

State Farm Business Plan - Gross Margin Yearly

State Farm Business Plan – Gross Margin Yearly

8.4 Projected Cash Flow

State Farm Business Plan - Project Cash Flow

State Farm Business Plan – Project Cash Flow

8.5 Projected Balance Sheet

8.6 business ratios.

The state farm agents get the clients. They come up with innovative and unique strategies to attract new clients and are paid based on successful sales and commissions. When you know how to start a state farm agency, you can make more money from your business.

The insurance agents get a commission of 40% in their sales for the first year. From the second year, the commission on the same sales become 2 to 5 percent. The commissions are pre-defined in the state farm agency program.

Yes, state farm agents work as independent contractors and they are solely responsible for making decisions regarding the management and staff employed by them. The detail is given in the state farm agent business plan.

Download State Farm Agent Business Plan Sample in pdf

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

state farm business plan pdf

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State Farm Insurance Business Plan Template – Fill Out and Use This PDF

State Farm Insurance Business Plan Template is a great way to start analyzing your business plan.

We ensure it is hassle-free and secure to use this form. Start filling out this PDF form by simply pressing the button below. The whole process of editing forms can be carried out using a phone, a laptop, or a tablet.

State Farm Insurance Business Plan Template first page preview

State Farm Insurance Business Plan Template PDF Details

Are you looking for a State Farm Insurance business plan template form? If so, you've come to the right place. In this blog post, we will be discussing what a business plan is and what it should include. We will also be providing a link to a State Farm Insurance business plan template form that you can use as a guide. Finally, we will provide some tips on how to create your own business plan.

Here is the information regarding the form you were looking for to fill in. It will tell you the length of time you will need to finish state farm insurance business plan template, exactly what fields you will have to fill in and several other specific details.

Form Preview Example

state farm business plan pdf


We will be servant leaders to our customers while nurturing a mutually beneficial lifelong relationship with them.

To be Washington County’s premier source of wealth creation and preservation, asset protection and management, and insurer.

• Leverage and translate the strength of the State Farm brand and reputation in property & casualty protection into a broader financial services arena more directly associated with bank and securities products to insulate the company from the rate sensitivities of auto insurance and the potential reforms of health care. Reposition the agency as a financial services specialist while continuing to implement the “auto insurance as lost leader for multi-lines of business” model for the growth and maintenance of the existing book of business.

• Develop an online and social media marketing platform to leverage the cost efficiencies of this medium while gaining traction and loyalty with Generations X and Y.

• Develop strong alliances with the abundance of college campuses in the vicinity and begin nurturing lifelong relationships with this potentially elusive demographic. Lead with bank products that appeal to this segment (Student VISA, Credit builder VISA, Checking, Savings, and Vehicle Loans) to instill a financial services mindset from day one. Foster these relationships as a prime employee recruitment tool. Target the faculty and administration offices of these institutions for all product lines.

• Monitor the implications of the Patient Protection and Affordable Care Act (PPACA) and the Health Care and Education Reconciliation Act and adjust projections for health-related insurance lines as necessary for years 4-6 (2014-2016) of this plan.

• Become known as a knowledge base for financial services by offering a series of educational programs for the general public.

• Be among the Top 100 TICA by qualifying through Life Premiums, Health Premiums, New Mutual Fund Accounts, Auto Production, and Bank Commissions.

• Qualify for Level 1 Ambassador Travel.

• Conduct IFRs with each client every 18 months to maximize multi-lining opportunities.

state farm business plan pdf

Local Market Context

Target Market

• Washington County was established December 7, 1776 and was named after George Washington. It encompasses 560 square miles.

• There are three towns located in the County as well as the communities of Emory, Meadowview, Mendota, and Saltville

• Emory & Henry College, founded in 1836 and located in Emory, is one of the oldest colleges in Southwest Virginia. Southwest Virginia Higher Education Center, located in Abingdon, represents a partnership of seven universities providing satellite education services.

• Abingdon is known as “Little Richmond -- the State Capital of Southwest Virginia” with its 42 state agencies and Federal Courthouse serving as a regional service center for medical, professional, and governmental services.

• Abingdon has a significant arts and culture infrastructure, most notably the Barter Theater of Virginia, the “State Theater of Virginia”, one of the oldest professional theaters in the nation founded in 1933, the William King Museum Regional Center for Art and Cultural Heritage, and the regional artisan center, Heartwood, currently under construction on the grounds of Virginia Highlands Community College. Word on the street is that this little town just might be on the verge of discovering its creative economy to become the next Asheville. It has been a sudden, subtle change, but seemingly overnight, the same sort of art galleries and crafty, eclectic shops that define that North Carolina tourist center are popping up here.

• The independent city of Bristol, Virginia (population 17,400) borders the County.

• Washington County is a major tourist destination with historic landmarks and accessibility to national and regional recreation areas.

• Major roads include Interstate 81 (with 15 exits, the most of any county in Virginia), which runs through the County’s central valley. Other main highways include State Routes 11, 19, and 58.

• Commercial air service is primarily provided through Tri-Cities Regional Airport in Blountville, TN, approximately 10.4 miles from the County. General aviation service is also provided through Virginia Highlands Airport in Abingdon.

• Rail service is provided by Norfolk Southern Railway Company.

Population and Demographics

The County’s current population estimate is 54,443, a 6.5% increase since the 2000 Census. An 11% growth rate from 1990 to 2000 made it the only county in the Southwest Virginia area to have experienced an increase during that time. The population is primarily caucasian (97.1%) with an African-American contingent of 1.7% and a median age of 41.1. Unemployment currently hovers just below 9% against a state average of ~7%. The top 10% (1,733 HH) of owner- occupied housing values are above $300k with the majority of that total (81% or 1400 HH) ranging from $300-499,999.

state farm business plan pdf

Twenty-one percent of the population has a Bachelor’s Degree or higher and a median income of $39,865 (versus $61,044 for the state) with the top 10% making $100k or more.

The top 50% of the workforce, or 9,713 of the county’s total 19,425 employees as of 4th quarter 2009, is divided between trade, transportation, and utilities (24.5%) and education and health services (24.1%) with an additional 17.2% in manufacturing. Calendar year-to-date estimates through June 2010 put average employment at 24,779 per month, a 27.6% increase over 4th quarter 2009.

Economic Development

Recent major commercial projects include:

• $40 million The Highlands (big box retailer, Target, along with 9 baby box retailers and 4 out-parcels)

• $4 million Sam’s Club

• $22 million Johnston Memorial Hospital Regional Cancer Center

along with planned investment of $40-60mm in the Ridgecrest Center and $16mm in the Heartwood Regional Artisan Center.


state farm business plan pdf

+ Virginia City Hybrid Energy Plant Construction Temporary Workforce through 3/2013

SWOT Analysis

• The inherent strength and integrity of the State Farm brand as a property & casualty insurer.

• The depth and breadth of the product lines available through State Farm.

• A viable geographic market that has demonstrated respectable strength and growth in a tentative economy.

• A predominantly white-collar and diverse economy (medical, professional, governmental, educational, and tourism) with a natural predisposition for the State Farm line of products.

• Relationships with securities customers are more resilient than those based exclusively on insurance.

• Experienced real estate broker with proven sales, business development, and networking abilities.

• Brand strength as a property & casualty insurer overshadows and limits the perception of and expansion into a broader financial services segment.

• Auto insurance is highly competitive and rate sensitive. State Farm does not have the brand inertia and loyalty with Generations X and Y that it has enjoyed with prior consumer segments.

• The Washington County unemployment rate is higher than the State average.

• Online marketing is drastically underutilized in the insurance industry as a whole. A recent report stated that 48% of independent insurance agents have web sites, and of those, only about 20% keep the sites updated.

• Securities products have not been aggressively marketed in Washington County.


• Maintain the existing “auto insurance as lost leader” model for multi-lining while dedicating a financial services representative to aggressively market directly to that segment’s growth and capitalize upon the nation’s transference of wealth phenomenon.

• Design an approach that shields the agency from auto insurance rate sensitivities and health insurance reform uncertainties.

• While the overall Washington County household market penetration of 20.6-25.6% is commendable, growth to 30% does not seem unreasonable. County-wide penetration levels of 1.4-1.6% for State Farm Bank suggest room for considerable growth.

• The auto and fire penetration levels for Abingdon are 19.4% and 12%, respectively, signaling potential market-specific growth for these product lines.

• 2010 Census Data will be available in March 2011. Revisit and refresh this plan as needed at that time.

• Promote Life, Bank, and Mutual Fund products to the market’s 47% medical, professional, governmental, educational, and tourism professionals.

• Target the county’s 30% of households with a presence of children below the age of 18 for Education Savings, Life Insurance.

• Solicit rental coverage from the county’s 6,000 rental households.

• Use social media to target tech-savvy professionals and college students. According to Forrester Research, more than four in five U.S. online adults use social networking tools — Facebook, LinkedIn, YouTube, Twitter and blogs — at least once a month, and half participate in social networks. Develop an expert reputation in insurance and financial services by creating conversations with consumers that will lead relationships by offering valuable content, suggestions, opinions, and engagement by spreading our knowledge and service throughout the virtual world.

• The County’s relatively high unemployment rate creates increased demand for 401k rollovers and short-term health insurance policies.

• Pursue the top 46% of the market (ages 45+) for Long Term Care, Whole and Universal Life, and Mutual Funds along with Medicare supplements from the 14% of households ages 65+.

• Financial services companies whose brands are more firmly entrenched in that arena: Edward Jones, Charles Schwaab, etc. command the market’s attention right now.

• Other insurance companies whose reputations in the financial services arena is more established: Northwestern Mutual Life, New York Life, etc. have more top-of-mind awareness in this segment.

• The implications of the Patient Protection and Affordable Care Act (PPACA) and the Health Care and Education Reconciliation Act that will take effect in 2014 and related impacts on all health-related insurance lines are largely unknown.

• An emerging, fickle generation that demands a highly sophisticated social media business platform.

• Insurance companies with a presence in Abingdon

• Aflac, 21553 Carol Jane Lane

• Allstate, 158 E. Main Street and 439 E. Main Street

• Farmers Mutual, 640 W. Main Street

• MetLife, 1000 W. Main Street

• Nationwide, 480 W. Main Street and 1070 W. Main Street

• New York Life, 458 E. Main Street

• Virginia Farm Bureau, 395 E. Main Street

Team Development

Recent college graduates seem perfectly suited for the kind of structure found in State Farm offices. We will align ourselves and maintain ongoing dialogue with the career placement offices of East Tennessee State University, Emory & Henry College, King College, Radford University, Southwest Virginia Higher Education Center, and Virginia Highlands Community College. We will sponsor campus recruiting programs appropriate for each location and participate in the annual Interstate Career Fair on April 7, 2011 at which each of these colleges along with Tusculum, Virginia Intermont, Milligan, Concord, Bluefield, University of Virginia-Wise, Mountain Empire Community College, Tennessee Wesleyan, and Northeast State Community College will be represented. Having a presence at this event will allow us to reach 300 potential candidates.

Opportunities will be promoted on Facebook, LinkedIn, and Monster.com. Past experience has shown good results with recruiting employees from whom excellent customer service has been received in the normal course of business, and we will constantly screen for talent in our own day-to-day dealings with such individuals and service providers. To a cautious extent, we will look for candidates within our book of business through the normal course of conversation with our policy holders and clients. We will network with and solicit referrals from business owners and through the Abingdon Civitan Club, Abingdon Newcomers‘ Club, Abingdon Rotary Club, Southwest Virginia Board of Realtors, Rotary Club of Washington County, and Washington County Chamber of Commerce. We will incentivize our employees with a $250 per new hire referral commission. We will host our own Career Fairs as needed to generate a pipeline of potential candidates. We will not overlook the opportunity to enlist the “trial model” afforded by reputable temp agencies applying specific screening criteria as needed.

We will use a combination of IQ, personality, and career assessment tests available from State Farm (Marketing Services Behavioral Indicator/MSBI) as well as outside resources (kolbe.com, wonderlic.com, caliperonline.com, and limra.com) to maximize the opportunity to identify, build, and develop the best possible team. We will utilize results to assess abilities, define roles, align the organization, provide training, and coach deficiencies.

Structure and Development

Three team members will be responsible for the maintenance and growth of the existing book of business and a fourth team member will be hired as a financial services specialist with a goal of adding a second specialist by year four. We will also solicit two unpaid internships per semester from the local colleges to augment our telemarketing and general office duties (photography, etc.)

All paid team members must be licensed for Property & Casualty, Life & Health, and Medicare Supplement & Long Term Care within the first 60 days of their employment. Financial service specialists must also obtain their Mortgage and Securities Licenses, which I will hold, too.

We will develop an office-specific agent certification program outlining additional training requirements for career advancement and success. This comprehensive program will include office standards, systems, and processes along with requirements for civic involvement and professional development.


General team members will be paid an hourly wage of $9.25-11.75 plus tiered commissions on all new (one time) personal production. The financial services specialist will receive a modest base salary ($22k) plus an enhanced tiered commission on all new (one time) personal production. Quarterly incentives will be tied to the SMVC and Scorecard Bonus for the entire office with total compensation ranging from $20-28k for all general team members and $36-42k for specialists.

Sales & Marketing Strategy

Sales & marketing activities will be developed as two tracts: general agency and product-specific financial services.

General Agency

The efficiencies of online and social media will be leveraged to energize and supplement the traditional dialogue with our existing book of business while gaining traction and developing loyalty with Generations X and Y. We will employ Search Engine Optimization (SEO) tactics to drive traffic to our agency micro-site and incorporate a daily blog that will not only be used to position ourselves as an expert in insurance and financial services but will also create even more searchable content for our SEO initiative. We will exploit the economies of site analytics that are available free of charge through Google and Yahoo to monitor and measure our site’s performance and growth as well as the modestly priced services of Universal Business Listing (ubl.org) that distributes to all major search engines, yellow pages directories, social networks, mobile phones, GPS navigation and 411 directory assistance.

We will develop push email campaigns for each of our product lines and track response rates and click-throughs.

We will create a Facebook fan page and use push email in conjunction with an offline handheld paper fan campaign targeting college campuses to attract 1,500 fans to our page within the first year. We will offer timely, relevant, and valuable content on local and industry news and events and administer the page with diligence.

We will enlist text messaging as appropriate with all clientele below the age of forty.

We will offer and encourage the use of Skype as an alternate means of conducting IFRs, while letting the customer choose their preferred means of interaction.

A systematic process for maximizing the capabilities of Prospector+, X Dating, and Backroom Technician will be developed.

We will use radio and outdoor along with a local newspaper and magazine advertising schedule to promote our brand.

Memberships and Boards

We will join the Washington County Chamber of Commerce, and each employee must be actively involved in at least one, distinct civic organization. I will serve on two boards during the first three years, preferably the United Way of Washington County and the Barter Theatre.

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