Veronica's Insurance franchise
2024 filing · April 18, 2024Growing
Veronica's Insurance at a glance
An insurance agency selling property, casualty, auto, home, business and renters insurance. At the end of 2023 there were 45 Veronica's Insurance locations in the US, 9 franchised and 36 company-owned, so most are run by the company itself.
The business
- Franchisor
- Veronica's Insurance Franchise, LLC
- The company that sells the franchises
- Franchising since
- 2020
- 4 years of selling franchises
- Franchisor based in
- Ontario, California
- Typical size
- 1,000–1,200 sq ft
What you pay
- Cost to open
- $129K–$190K
- Fee, build-out and opening working capital
- Franchise fee
- $100,000
- Paid once, when you sign
- Royalty
- 15% new, 30% renewals
- 15% of gross sales from new business and 30% from renewals, deducted from commission payouts
- Brand fund
- Yes
- Up to 5% of gross sales or $12 a day, whichever is more
- Renewal fee
- $15,000
- When the agreement ends and you sign again
- Agreement length
- 5 years
- Territory
- Limited
- Limited protection
- Franchisor financing
- None offered
Where it is
- US locations, 2023
- 45
- Franchised and company-owned
- Franchised
- 9
- Company-owned
- 36
- Change in 3 years
- +3
- Franchised locations, 2021–2023
- States
- 3
- Most in California, Florida and Texas
From Veronica's Insurance Franchise, LLC’s 2024 filing; SBA status from the SBA Franchise Directory, October 28, 2026.
Where it ranks
Veronica's Insurance among all franchises with the same figure.
| Figure | Veronica's Insurance | Among all franchises |
|---|---|---|
| Cost to open, midpointHalfway between the low and high estimate | $159,525 | Costs less than 76% of franchises |
| Franchise feePaid once, when you sign | $100,000 | Higher than 98% of franchises |
| US locationsFranchised and company-owned | 45 | More than 63% of franchises |
How much a Veronica's Insurance franchise costs
Opening one Veronica's Insurance costs an estimated $129,450 to $189,600. That covers the franchise fee and everything else needed to open, through the first months of working capital.
The biggest costs are initial franchise fee ($100,000) and additional funds – three months ($5,000 to $25,000). Here is every line of the estimate as filed:
| What it pays for | Range | Low | High |
|---|---|---|---|
| Initial Franchise Fee | $100,000 | ||
| Construction and Leasehold Improvements | $1,500 | $7,000 | |
| Lease Deposits – Three Months | $1,500 | $6,000 | |
| Furniture, Fixtures and Equipment | $2,000 | $7,000 | |
| Signage | $1,000 | $7,000 | |
| Computer, Software and Point of Sale System | $5,500 | $12,000 | |
| Grand Opening Marketing | $6,000 | ||
| Initial Inventory | $3,350 | $3,600 | |
| Utility Deposits | $500 | $1,000 | |
| Insurance Deposits – Three Months | $1,500 | $5,000 | |
| Travel for Initial Training | $500 | $3,000 | |
| Professional Fees | $1,000 | $5,000 | |
| Licenses and Permits | $100 | $2,000 | |
| Additional Funds – Three Months | $5,000 | $25,000 | |
| Total | $129,450 | $189,600 | |
Source: Veronica's Insurance Franchise, LLC, 2024 filing, page 19
Veronica's Insurance franchise fee
The franchise fee is $100,000. You pay it when you sign the franchise agreement.
Source: Veronica's Insurance Franchise, LLC, 2024 filing, page 11
Royalty and ongoing fees
| Royalty | 15% of gross sales from new business and 30% from renewals, deducted from commission payouts. |
|---|---|
| Brand or marketing fund | Up to 5% of gross sales or $12 a day, whichever is more. |
| Technology | Up to $1,000 per month, currently $450 per month |
| Renewal | $15,000 |
| Additional Employee Initial Training | Our then current training fee, currently $300 per person per day |
| Local Marketing | Minimum of 5% of Gross Sales |
The typical franchise royalty is 6% of sales, plus 2% for marketing. See franchise fees and royalties to compare.
Source: Veronica's Insurance Franchise, LLC, 2024 filing, page 13
Other fees as filed, from pages 13–17. The filing lists every fee, including late fees and audit costs.
Sales and earnings
No figures Veronica's Insurance does not share sales or profit figures for its locations. Talking to current and former franchise owners is the usual way to learn what a location earns.
Source: Veronica's Insurance Franchise, LLC, 2024 filing, page 52
Growth and closures
Share of franchised locations, 2023 / 2021–2023. Typical means the median: half of brands are above it, half below.
| Measure | Veronica's Insurance | Typical insurance brand | Typical franchise |
|---|---|---|---|
| GrowthNet change in franchised locations | 0% / +50% | +2.1% / +22% | +1.2% / +10% |
| ClosuresTerminated, not renewed or stopped operating | 100% / 267% | 14% / 63% | 3.9% / 16% |
| Bought backLocations the franchisor took back | 0% / 0% | 0% / 0% | 0% / 0% |
Typical insurance brand is the median of the 6 brands in insurance franchises with three years of counts.
How Veronica's Insurance compares
Of the 17 insurance franchises on this site, Veronica's Insurance is the most expensive to open and the 11th largest by number of locations.
| Figure | Veronica's Insurance | Typical insurance brand | Typical franchise |
|---|---|---|---|
| Cost to open, low end | $129K | $55K | $222K |
| Cost to open, high end | $190K | $112K | $477K |
| Franchise fee | $100K | $25K | $40K |
| US locations | 45 | 156 | 21 |
| Shares earnings figures | No | 9 of 17 | 2,147 of 3,352 |
Typical is the median across the 17 brands in insurance franchises; typical franchise, across every brand here.
Locations opened and closed
| Year | Franchised | Company-owned | Opened | Closed |
|---|---|---|---|---|
| 2021 | 7 (+1) | 38 | +3 | −2 |
| 2022 | 9 (+2) | 38 | +7 | −5 |
| 2023 | 9 (0) | 36 | +9 | −9 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
See which brands grew most in the fastest-growing franchises rankings.
More in the guides: franchise failure rates.
Source: Veronica's Insurance Franchise, LLC, 2024 filing, pages 52–53
Where Veronica's Insurance locations are
At the end of 2023, Veronica's Insurance had locations in 3 states. The most are in California, Florida and Texas.
- California43
- Florida1
- Texas1
| State | Franchised | Company-owned | Total |
|---|---|---|---|
| California | 7 | 36 | 43 |
| Florida | 1 | 0 | 1 |
| Texas | 1 | 0 | 1 |
Source: Veronica's Insurance Franchise, LLC, 2024 filing, page 53
Who owns Veronica's Insurance?
Veronica's Insurance franchises are sold by Veronica's Insurance Franchise, LLC. Its filing names no parent company.
From Veronica's Insurance Franchise, LLC’s 2024 filing, page 8.
Lawsuits and bankruptcy
| Lawsuits and regulatory actions | None. The filing says no litigation has to be disclosed. |
|---|---|
| Bankruptcy | None. The filing says no bankruptcy has to be disclosed. |
Franchisors must disclose lawsuits and bankruptcies involving the company, its parents and affiliates, and its executives. Many cases are routine disputes with franchisees over fees or contracts; read the descriptions in the filing and ask current owners about anything that worries you.
Source: Veronica's Insurance Franchise, LLC, 2024 filing, litigation on page 11, bankruptcy on page 11
Veronica's Insurance filings
The figures on this page come from Veronica's Insurance Franchise, LLC’s 2024 filing, issued April 18, 2024, on record with the Minnesota Department of Commerce.
| Filing | Issued | Registry | On this page |
|---|---|---|---|
| 2024 filing | April 18, 2024 | Minnesota | Costs, fees and locations, 2021–2023 |
Each link opens the filing as a PDF. See the newest filings across all brands.
Other insurance franchises
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Veronica's Insurance is also on these lists: business services franchises.