Question
I'm partnering with a licensed insurance agent to open an Allstate agency in Michigan in the second half of this year. I am not, nor plan on getting licensed. I'm investing the $75K+ required by Allstate to startup the agency.
Can a separate business entity own the agency? What are my options?
Thanks in advance!
Answer
I'm not sure why you would front all the $ and have someone else the one who earns the commission. The producer (licensed agent) has all the leverage.
What is the $75k buying? An existing book?
