Amount of money I invested in the Farmers Agent :
"The best small business opportunity in America"
| Amount Invested |
< $10,000 |
$10,000 - 20,000 |
$20,000 - 40,000 |
$40,000 - 80,000 |
$80,000 - 150k |
$150k+ |
| |
12% |
18% |
24% |
20% |
8% |
18% |
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How much I made back by the Farmers Insurance Agent Opportunity
| Return |
I have not made my money back |
Lost my investment and had to pay more to Farmers to quit. |
I broke even |
Made $10-30k |
Made $30-70k |
Made $70-150k |
Made $150k to $250k |
Made more than $250k |
| |
28% |
28% |
18% |
8% |
12% |
6% |
0% |
0% |
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Note to self: 0% of agents made in excess of 150k a year however 50% of agents who signed on were told they would make that much!
How much the Farmers District Manager represented I would be making
| Projected Income Per Year |
$70,000 or less |
$70,000 - $150,000 |
$150,000-$250,000 |
More than $250k |
| |
8% |
42% |
28% |
22% |
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What do we know from this data?
56% of agents will fail and lose money and/or owe money back to Farmers for subsidy debt. This means if you were to flip a coin on if you were going to bankrupt yourself or not, more often than not you will lose.
If you were to just go down to McDonalds and get a job as a burger flipper, you could do better than most Farmers Agents! Why? Because you dont have to pay McDonalds to work for them. If you want to quit, they give you your last paycheck and you're done. Not with Farmers! You spend all of your own money keeping a doomed Insurance Agency afloat then when you decide to leave you owe them money for Subsidy!
56% Of all Agents Lost the money they invested in their Farmers Insurance Agency
61% of Agents that Lost money, invested $20,00 or more
35% of the Agents that Lost money, invested $40,000 or more
28% of Agents end up owing more money back to Farmers after closing down the agency
50% of Agents were told they would make $150,000 or more a year of which 0% of agents have made that much
What Farmers District Managers Dont Tell You As a New Agent
- The average investment in a new agency is at least $20,000 - 40,000
- 50% of new agents will lose $80-$200,000 in capital investment and owe back subsidy
- Unlike the great majority of other Insurance Agent opportunities at most other insurance companies, you do not own your Farmers Agent Book of Business in any way, shape or form.
- Life Insurance is the most important product to them and the least important to you. As a Farmers agent, your Income on Life Policies is terrible compared to what other life insurance compaies pay their agents.
- They target people that have no prior experience as an insurance agent for a good reason. You do not know anything about what other companies do or pay their agents. This is so the Farmers DM can lie to you about how good things are
What are the Farmers District Managers Fibbing About??
- That the grass is greener on the other side.
- Farmers Pays the best commission: Wrong. They pay 30% lower commissions on Auto. Imagine going somewhere else to be an agent and getting a 30% raise to sell a more competitively priced product that doesnt force you to sell $750 or higher deductibles? Life commissions are off the charts bad. 45-55% compared to 70-200% and a residual!
- New Agents in a certain district in Arizona were told they would only need $5,000 to get started. Looking at the average agent surveyed, this is very far from the truth.
- Their real intention is to have you burn your friends and family and wash out of the program.
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