About Prominent Franchise
Prominent Insurance offers a comprehensive franchise opportunity to operate an insurance agency, providing essential services for both residential and commercial clients.
Franchisees manage daily operations, selling new and renewal policies while adhering to the brand's distinctive operating procedures and service methods.
The concept is appealing due to its established market, non-seasonal demand, and a system designed for effective management, training, and marketing.
Prominent Franchise Cost & Fees
Minimum Investment
$83K
Average Investment
$99K
Maximum Investment
$115K
| Fee Type | Amount | Notes |
|---|---|---|
| Initial Franchise Fee | $40,000 | One-time payment upon signing |
| Royalty Fee | 30% of Gross Revenue of gross sales | Ongoing; paid monthly |
| Marketing/Ad Fund | 2% of Gross Revenue (Brand Development Fund) | National brand fund |
| Total Investment Range | $83,000 – $114,500 | Includes build-out, inventory, working capital |
The investment range of $83K–$115K reflects variability in build-out costs, store size, lease terms, and market. The combined royalty (30% of Gross Revenue) and marketing fee (2% of Gross Revenue (Brand Development Fund)) are ongoing costs paid as a percentage of gross sales.
Investment Breakdown (Item 7)
| Item | Low | High |
|---|---|---|
| Initial Franchise Fee | $40,000 | $40,000 |
| Your Training Expenses | $1,000 | $2,500 |
| Premises Lease Deposit | $0 | $3,000 |
| Leasehold Improvements, Construction and/or Remodeling | $0 | $10,000 |
| Office Furniture, Fixtures, Equipment and Supplies | $0 | $12,000 |
| Exterior Signage | $2,500 | $5,000 |
| Licenses and Permits | $1,000 | $1,000 |
| Computer Systems | $3,500 | $3,500 |
| Professional Fees | $500 | $3,500 |
| Grand Opening Advertising | $2,500 | $2,500 |
| Insurance | $2,000 | $5,000 |
| Operating Expenses / Additional Funds - 3 months | $30,000 | $30,000 |
Additional Fees (Item 6)
| Fee Type | Amount |
|---|---|
| Transfer Fee | $10,000 |
| Renewal Fee | 25% of the then current Initial Franchise Fee |
| Technology Fee | Up to $200/month |
| Audit Fee | Cost of examination plus related expenses |
| Required Minimum Expenditure for Local Marketing and Advertising | 1% of Gross Revenue |
| Advertising Cooperative | Currently $0 |
| Late Charge | $75 |
| Interest Charge | 1.5% per month |
| Non-sufficient Funds Fee | $50 |
| Interim Management Fee | $500 per day plus travel and expenses |
| Initial Training | No charge for up to 2 people; $400 per person per day for additional trainees |
| Additional Training | $400 per person per day plus travel and expenses |
| Remedial Training Fee | $400 per day plus travel and expenses |
| Examination of Books and Records | Cost of examination plus related expenses |
| Evaluation Fee | Actual costs and expenses |
| Inspection Reimbursement | Actual cost |
| Customer Dispute Resolution Fee | Amount refunded to customer |
| Quality Review Services | Varies |
| Indemnification | Amount of loss or damages plus costs |
| Damages, Costs and Expenses for Non-compliance | Actual damages, costs and expenses |
| Insurance Reimbursement | Amount paid plus 10% administrative fee |
| Taxes | Amount of taxes |
Training Program (Item 11)
| Detail | Information |
|---|---|
| Total Duration | Up to 4 weeks |
| Classroom Training | 82 hours |
| On-the-Job Training | 3 hours |
| Training Location | Philadelphia, PA or Online |
| Additional Training | Mandatory or optional additional training programs may be offered, including annual conference or national business meeting for up to 5 days per year |
Territory Rights (Item 12)
| Detail | Information |
|---|---|
| Territory Type | Protected |
| Exclusive Territory | No |
| Territory Size | Minimum 2-mile radius surrounding approved location |
| Description | Territory is defined by contiguous zip codes, determined on an individual basis taking into account minimum numbers of households, average home prices and household incomes. You will not receive an exclusive territory. However, during the term and provided you are not in default, the franchisor will not open another Prominent Insurance outlet or grant the right to anyone else within your Territory. The franchisor reserves all rights to sell products and services through alternative distribution channels within the Territory. |
Renewal, Termination & Transfer (Item 17)
| Detail | Information |
|---|---|
| Initial Term | 10 years |
| Renewal Term | 10 years |
| Renewal Fee | 25% of the then current Initial Franchise Fee (Successor Agreement Fee) |
| Renewal Conditions | Be in full compliance, have no more than 3 events of default during current term, provide written notice at least 10 months before end of term, execute a new franchise agreement, pay Successor Agreement fee, repair/upgrade equipment, execute general release, comply with then-current qualifications and training requirements |
| Transfer Fee | $10,000 |
| Transfer Conditions | Franchisor consent required (not unreasonably withheld), right of first refusal, transferee must meet current standards, sign then-current franchise agreement, complete Initial Management Training Program, all amounts owed must be paid, General Release required, indemnify franchisor for 3 years |
| Termination for Cause | 5 days to cure non-payments; non-curable defaults include insolvency, bankruptcy, failure to obtain licenses/permits, failure to open within required timeframes, falsifying reports, failure to comply with applicable laws, understating Gross Revenue, and various other defaults |
| Non-Compete Period | 24 months |
| Non-Compete Details | For 24 months after termination, you may not divert customers or referral sources, participate in any competing business within 50 miles of your former Territory or any other Prominent Insurance office location |
Operations & Supply (Items 8 & 15)
| Detail | Information |
|---|---|
| Owner-Operator Required | Yes |
| Participation Details | The Franchise Agreement requires that you personally supervise and manage the day-to-day operation of your Franchised Business. You may not appoint a non-owner manager unless you receive prior written approval. |
| Required Suppliers | Franchisees must purchase all equipment, inventory, supplies and services from designated suppliers and contractors or in accordance with franchisor specifications. Approved software includes Microsoft Outlook, QuickBooks, Hawksoft AMS, and PL Rater. |
| Supply Restrictions | Franchisees must use only approved suppliers and items. Must request prior written approval to use unapproved suppliers. Franchisor maintains written lists of approved items and designated suppliers. |
| Franchisor Revenue from Suppliers | No revenue received from required purchases by franchisees in fiscal year ending June 30, 2022. No current revenue, rebates, or discounts received from suppliers. |
Financing (Item 10)
| Detail | Information |
|---|---|
| Financing Available | No |
| Description | We do not offer direct or indirect financing. We do not guarantee any note, lease, or obligation on your behalf. |
Prominent Franchise Earnings — Item 19
Average Revenue
$214K
Median Revenue
$196K
Revenue Range
$186K – $261K
Sample Size
2 units
Past financial performance does not guarantee future results. Individual results will vary.
Prominent Litigation & Risk Flags
Clean Litigation RecordProminent has no pending litigation actions listed in their FDD. There is also no bankruptcy history disclosed.
Litigation and bankruptcy data is sourced from Items 3 and 4 of the FDD. Always verify current status directly from the most recent FDD.
Prominent System Growth
Total Units
2
Franchised
0
Company-Owned
2
Prominent currently operates 0 franchised locations and 2 company-owned units. Unit count data is sourced from Item 20 of the FDD.
Unit History (Item 20)
| Year | Opened | Closed | Total |
|---|---|---|---|
| 2019 | 0 | 0 | 0 |
| 2020 | 0 | 0 | 0 |
| 2021 | 0 | 0 | 0 |
Transfers: 0 | Closures: 0
State Registrations
Registered in 16 states: CA, CT, HI, IL, IN, MD, MI, MN, NY, ND, OR, RI, SD, VA, WA, WI
Prominent Franchise — FAQ
The total investment to open a Prominent franchise ranges from $83,000 to $114,500, per their Franchise Disclosure Document. This includes the initial franchise fee of $40,000. The investment covers build-out, inventory, equipment, signage, working capital, and other startup costs.
Prominent charges a royalty fee of 30% of Gross Revenue of gross sales, plus a 2% of Gross Revenue (Brand Development Fund) contribution to the marketing/advertising fund. These fees are paid on an ongoing basis.
You can download the Prominent Franchise Disclosure Document free on this page. The FDD is a public document filed with state franchise registries. Always also request the current FDD directly from Prominent to ensure you have the most up-to-date version.
According to the Item 19 financial performance representation in their FDD, Prominent franchise owners report average revenue of $214K and median revenue of $196K. This is based on a sample of 2 units. Past performance does not guarantee future results.
Prominent has been franchising since 2022. The FDD shows an investment range of $83,000-$114,500, a 30% of Gross Revenue royalty, and includes an Item 19 earnings disclosure. There is no pending litigation. Review the full FDD and contact current franchisees listed in Item 20 before making any investment decision.
The franchise fee is $40,000 and the total investment ranges from $83,000 to $114,500 depending on location size and market. Contact the franchisor directly for current net worth and liquid capital requirements, territory availability, and application details.
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Data Source & Disclaimer: This website is for informational purposes only. It is not an offer to sell or buy a franchise. This profile is based on publicly available FDD data sourced from state franchise registry filings. All information is for research purposes only and does not constitute legal, financial, or investment advice. Data may be outdated or contain errors. Always obtain the current FDD directly from Prominent and consult a qualified franchise attorney before making any investment decision. FranchiseOverview.com is operated by Franchising Compliance, LLC and is not affiliated with Prominent or any of its subsidiaries. To report an inaccuracy: info@franchiseoverview.com