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Insurance Agency Texas
Julian Said:
Ballpark this: How much money would an ins. agency have to gross for the owner to have a million dollar home?We Answered:
Are you talking PREMIUMS, or REVENUE(commissions?)And . .. how much INCOME does that owner need to have, to pay for a one million dollar home? Are they married? does the spouse kick in?
and . . . how much do they pay to the employees? And how much are they spending on employee benefits?
Generally, a one million dollar book of business will generate roughly $100,000 of gross income for the AGENCY, which would pay for ONE CSR, overhead, and the agent.
So, four CSR's, you probably need a minimum of $5,000,000 in gross income - or $500,000 in commission dollars, to support four employees plus the agent.
But that's NOT directly related to the house question, as even a CSR could be living in a million dollar house - with parents, or with spouse, or could even be a trust fund baby!