Franchise Deep Dive: Goosehead Insurance Franchise Costs, Fees, Profit and Data

The insurance space can be incredibly lucrative. Goosehead Insurance empowers franchisees to enter the market in a more meaningful way.

By Morgan Wood1851 Franchise Contributor

7:07AM • 03/31/23

Goosehead Insurance is a franchise concept that says it’s working to revolutionize the industry. Founded in 2003, Robyn and Mark Jones “began transforming the insurance industry by providing clients unprecedented information, unleashing their power of choice.”

Within a very saturated industry that is often perceived less than favorably, the Jones have built an extensive network of Goosehead Insurance owners, who provide transparent pricing, honest advice and an empowering insurance selection process.

How Many Goosehead Insurance Locations Are There?

According to Entrepreneur, there are 1,344 Goosehead Insurance locations open as of 2022. The concept saw a steady climb in the early 2010s before beginning an exponential growth curve around 2019.

Toward the end of 2019, the brand released a statement noting the massive increases in key statistics system-wide. Some of these highlights include:

Net income grew to $2.8 million, 231% higher than the same period in 2018
Total written premiums increased by 44% compared to the same period in 2018
Revenues grew to $21.2 million, 32% higher than the same period in 2018

As the brand continues to grow, both within units and at a system-wide level, statistics like these play a crucial role in drawing in new franchisees or encouraging existing owners to expand, further driving up the unit count.

What Is the Goosehead Insurance Business Model?

The Goosehead Insurance business model is one of many within the insurance space, but the concept says it is “revolutionizing the insurance business inside and out” by gaining the trust of clients and carefully hiring its employees.

By encouraging clients to make their own choices about insurance, and providing the education they need to do so, Goosehead Insurance owners and agents are able to stand out and shift the narrative around insurance policies. With this, the concept has become one of the fastest-growing insurance concepts in the states.

How Much Can Goosehead Insurance Franchise Owners Make?

In Goosehead Insurance’s FDD, the brand discloses gross revenues of “franchise producers,” the employees/agents of the franchisee, rather than statistics regarding unit-level revenues.

These are the statistics provided:

Tenure of one year: Average gross revenue of $62,758
Tenure of two years: Average gross revenue of $166,557
Tenure of three or more years: Average gross revenue of $234,376

How Much Does It Cost To Open a Goosehead Insurance?

The initial investment to open a Goosehead Insurance franchise is $41,500–$116,500. The brand’s 2021 FDD reports the following costs:

Initial Franchise Fee: $25,000–$60,000
Lease, Improvements, Furniture, Fixtures, Utilities: $2,000–$6,000
Rent: $1,000–$4,000
Signage and Media: $500–$2,500
Office Equipment and Startup Supplies: $3,000–$6,000
Insurance: $2,000–$5,000
Licenses: $500–$1,000
Professional Fees: $1,000–$5,000
Training Expenses: $500–$7,000
Additional Funds: $6,000–$20,000

What Is the Franchise Fee for Goosehead Insurance?

According to the brand’s 2021 FDD, the initial franchise fee for a single-unit agreement can range from $25,000 to $60,000, depending on the region in which the business is established.

Who Is the Leadership of Goosehead Insurance?

What Helpful Articles Can I Read To Learn More?

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