Insurance Agency Startup Guide
Austin, Texas - Your Complete Roadmap to Success
Overall Progress:
0%
Timeline
Budget
Checklist
Resources
7-Month Launch Timeline
Months 0-3: Licensing & Certifications
Study and Pass Licensing Exam (0-2 months)
Deadline:
2 months from start
Pre-Licensing Course
Schedule Fingerprinting (1-2 months)
Deadline:
3 months from start
Schedule Fingerprinting
Apply for Individual Insurance License (2-3 months)
Deadline:
3 months from start
Apply for Individual License
Apply for Agency License (if partnership/corporation)
Deadline:
3 months from start
Apply for Agency License
File Assumed Name Certificate (if needed)
Deadline:
2 months from start
File Assumed Name
Month 1: Capital Requirements & Funding
Secure Initial Capital ($250K-$500K)
Deadline:
1 month from start
SBA Funding Options
Open Business Bank Account
Deadline:
2 weeks from start
Banking Resources
Months 1-2: Business Entity Setup
Choose Business Structure
Deadline:
1 month from start
Business Structure Guide
Register Business Name
Deadline:
2 months from start
Register with Texas SOS
Obtain EIN from IRS
Deadline:
2 months from start
Apply for EIN
Months 2-3: Business Plan Development
Define People & Team Structure
Deadline:
1 month from start
Team Planning Guide
Analyze Market Opportunity & Competition
Deadline:
1.5 months from start
Market Analysis
Assess Business Environment & Regulations
Deadline:
2 months from start
Regulatory Guide
Identify Risks & Mitigation Strategies
Deadline:
2.5 months from start
Risk Assessment
Create Financial Projections & Budgets
Deadline:
3 months from start
Financial Planning
Months 3-4: E&O Insurance
Research and Purchase E&O Insurance
Deadline:
4 months from start
E&O Insurance Info
Months 4-6: Carrier Relationships
Apply for Carrier Appointments
Deadline:
6 months from start
Carrier Appointment Guide
Months 5-6: Office & Technology Setup
Secure Office Location & Lease
Deadline:
5 months from start
Austin Business Resources
Set Up Phone & Internet Services
Deadline:
5.5 months from start
Business Services
Install Agency Management Software
Deadline:
6 months from start
Software Solutions
Set Up CRM & Client Management Systems
Deadline:
6 months from start
CRM Solutions
Implement Accounting & Bookkeeping Systems
Deadline:
6 months from start
Accounting Software
Months 5-6: Staffing & Training
Hire Key Staff Members
Deadline:
5 months from start
Staffing Guide
Set Up Employee Benefits
Deadline:
5.5 months from start
Benefits Resources
Complete Staff Training
Deadline:
6 months from start
Training Resources
Months 6-7: Marketing & Launch
Develop Marketing Materials
Deadline:
7 months from start
Marketing Guide
Launch Your Agency
Deadline:
7 months from start
Launch Agency
Budget Tracker
Capital Requirements (Required)
Initial Capital & Surplus
$250,000 - $500,000
Working Capital (6 months)
$50,000 - $100,000
Licensing & Certification
Pre-Licensing Course & Exam
$300 - $500
Fingerprinting & Background Check
$50
Individual License Application
$50
Agency License Application
$100 - $200
Assumed Name Certificate
$25
Business Setup
Business Registration
$100 - $300
EIN Application
Free
Insurance & Protection
E&O Insurance (Annual)
$1,000 - $3,000
Office Setup
Office Rent (Monthly)
$800 - $2,000
Security Deposit
$2,400 - $6,000
Furniture & Equipment
$5,000 - $15,000
Phone & Internet Setup
$200 - $500
Utilities Setup
$300 - $800
Technology & Software
Agency Management Software
$2,000 - $5,000
CRM System
$1,000 - $3,000
Accounting Software
$500 - $1,500
Computers & Hardware
$3,000 - $8,000
Security & Backup Systems
$1,000 - $2,500
Staffing & Training
Employee Salaries (6 months)
$60,000 - $120,000
Employee Benefits
$10,000 - $20,000
Training & Certification
$2,000 - $5,000
Marketing
Website Development
$1,000 - $3,000
Marketing Materials
$500 - $1,500
Advertising
$1,000 - $3,000
Budget Summary
Total Estimated Cost:
$13,200
Completed Expenses:
$0
Remaining:
$13,200
Complete Checklist
Licensing Requirements
Complete pre-licensing education course
Pass Texas insurance licensing exam
Complete fingerprinting and background check
Submit individual license application to TDI
Submit agency license application (if applicable)
File Assumed Name Certificate (if needed)
Receive official insurance license
Capital & Funding
Secure initial capital ($250K-$500K)
Set aside working capital (6 months)
Open business bank account
Set up business credit
Create financial projections
Business Setup
Choose business structure (LLC, Corporation, etc.)
Register business name with Texas Secretary of State
File DBA if using assumed name
Obtain EIN from IRS
Register for state taxes
Register for federal taxes
Obtain business permits
Insurance & Legal
Purchase Errors & Omissions (E&O) insurance
Obtain general liability insurance
Obtain property insurance
Create client contracts and agreements
Develop privacy policy and compliance procedures
Set up data security protocols
Compliance & Regulations
Register with Texas Department of Insurance
Set up compliance monitoring system
Create record-keeping procedures
Develop anti-money laundering procedures
Set up continuing education tracking
Carrier Relationships
Research and identify target carriers
Complete carrier appointment applications
Attend carrier training sessions
Set up carrier portals and systems
Office & Operations
Secure office location and lease
Set up phone and internet services
Purchase office furniture and equipment
Set up utilities and services
Install security systems
Technology & Software
Install agency management software
Set up CRM system
Set up accounting and bookkeeping systems
Install computers and hardware
Set up backup and security systems
Configure network and IT infrastructure
Staffing & Training
Hire key staff members
Set up employee benefits
Complete staff training
Set up payroll system
Create employee handbook
Marketing & Launch
Develop brand identity and logo
Create professional website
Design business cards and marketing materials
Set up social media accounts
Plan grand opening event
Launch agency and start operations
Begin client acquisition
Set up referral programs
Essential Resources & Links
Licensing & Education
Texas Department of Insurance
Official licensing information and applications
Aceable Insurance
Pre-licensing courses and exam preparation
IdentoGO
Fingerprinting and background check services
Business Registration
Texas Secretary of State
Business entity registration and filings
IRS EIN Application
Apply for Employer Identification Number
Austin Business Development
Local business resources and requirements
Insurance & Protection
Independent Insurance Agents of Texas
E&O insurance and agency resources
Coverica AAA
Carrier appointments and business planning
Professional Services
Austin Small Business Development
Local business support and resources
Small Business Administration
Federal business resources and loans
Travis County Clerk
Assumed Name Certificate filing
Technology & Software
IIAT Technology Resources
Agency management software recommendations
Austin Business Technology
Local IT and software resources
Staffing & HR
IIAT Staffing Resources
Hiring and training guidance
Austin Workforce Solutions
Local employment resources
Contact Information
Texas Department of Insurance
Phone: (512) 463-6169
Austin Business Development
Email: business@austintexas.gov
Travis County Clerk
Address: 1000 Guadalupe St, Austin, TX 78701