State Farm Business Proposal Form PDF Details

The State Farm Business Proposal form serves as a crucial element in the journey of becoming a State Farm agent, underlining a candidate's comprehension of the agency's opportunities and challenges. Essential in the interview process, this form allows applicants to elaborate on how they plan to tackle market demands, articulate their vision, and demonstrate operational and financial readiness for agency ownership. Applicants are advised to begin with thorough market research, considering local demographics, competition, and economic conditions, which lays a foundation for a compelling proposal. The document encourages a comprehensive evaluation of potential agency operations, including customer service philosophy, competitive positioning, and team development. Additionally, the proposal prompts candidates to set clear, actionable goals and devise strategies encompassing sales, marketing, and budgeting plans. A well-thought-out business proposal not only showcases an applicant's readiness to embark on the entrepreneurial journey with State Farm but also outlines their strategy for growth and sustainability in the local market. With guidelines on structure and content, this form becomes an invaluable roadmap for aspiring agents to navigate the complexities of establishing and running a successful agency, making it a pivotal step in the State Farm agency candidate review process.

Form NameState Farm Business Proposal Form
Form Length3 pages
Fillable fields0
Avg. time to fill out45 sec
Other namesbusiness proposal filled sample, farm proposal business state, state farm bpp sample, state farm insurance business proposal

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Business Proposal (Presentation)

he Business Proposal is an important part of the interview process. he Business Proposal helps State Farm evaluate your understanding of the agency opportunity and what it takes to succeed. You will hear much more around this component of the process at the Career Understanding seminar but can use the following information to begin planning and preparing your Business Proposal. Research is vital in building a strong Business Proposal.

Market Research

We recommend you begin by researching the local market area where you are pursuing an agency opportunity. his is for your beneit and does not need to be included in full, in your proposal. However, you may choose to include select facts and igures if they support speciic sections of your proposal. You will want to clearly outline how this market research afects the Agency. Relevant data may include some of the following:

Population size

Median income

Job market

Population growth rates

Median age

Major competitors




Demographic make-up

Total households and number insured

Local business environment

Income levels

Unemployment rate

Any other relevant data

Housing costs

Primary language(s)





Initial Planning

Preparing to become an entrepreneur and running your own agency will take commitment and focus. First-time business owners oten don’t understand that good planning is critical to making things happen and getting things done. In business, planning is oten overlooked. As you look more closely at becoming a State Farm agent, you should begin to think about these topics and how you would address them in running your agency.


How do you want to be perceived by your customers?

How do you want your staf to treat your customers?

What should your oice facility look like to your customers?

What will distinguish the level of service you provide to your customers?

How should your oice systems and procedures function?

How will you continually build the State Farm Brand?

Agency Analysis

Evaluate Internal/External Market Opportunities.

What customer segments or needs present opportunities?

Competitive Review – Who are the toughest competitors? Why?

Do you provide better value than competitors? Which ones? Why? How?

How accessible are you to customers?

Are you stafed adequately? Are you considering adding staf?

Is your oice environment customer friendly?

What skills and competencies do you and your staf possess?

What skills and competencies need further development?

Who do you consider role models to help you improve your agency?

What knowledge does your staf need to do a better job?

Goal Setting

What marketplace trends will you address in your plan?

How will you maximize the return on your marketing investment?

What customer segments will you pursue for which products?

Do you have plans to improve the marketing atmosphere of your oice?

What is your staing goal? Will the identiied opportunities require a change in your staing?

Do you have systems to ensure proper customer service, claim handing, and marketing?

What skills/abilities of yours and your staf need to be developed to meet your goals?

What are your personal inancial goals?

What drives your happiness?

How to accomplish a work / life balance.

Action Plans

What speciic steps will be necessary to achieve each goal?

What marketing tools will you use?

When will you execute these activities?

How will you ensure that you or your team members have mastered new skills?

How do you plan to continue to sharpen your skills?

Determine where your business is coming from.

Determine where you stand in reference to your goals.

Document how you will review and evaluate your business plan.


How much income would a multi-line policyholder produce in a single year?

In their lifetime with your agency?

What percent of that lifetime value will you spend to acquire / retain that policyholder today?

Estimate the ixed and variable costs in running your agency to determine the amount to be invested.

Your Business Proposal should address the following in 8-10 pages:

Your strategy for meeting customer needs in the local market you are pursuing •Your plan for investing in your agency

Your assumptions about what factors shape the sales production and proitability of an agent

Organize your written proposal into three main sections:

Local Market Context

Discuss the demographics and growth opportunities in the prospective Agency location.

How will this market research afect the Agency?

What speciic customer needs have you identiied?

Building an Agency

Capital Investment

How much capital do you anticipate having accessible in the irst 6 to 24 months?

How will investing in your Agency impact your other inancial commitments?

Team Development

How do you plan to structure, hire, and develop your team to capitalize on the local market?

What skill sets and experiences will you look for in team members?

How will you compensate them?

Sales & Marketing Strategy

How do you plan to tailor your sales and marketing strategies to meet the needs of the market?

Provide some speciic examples of sales and marketing tactics that you would employ.

Operating Budget

Create an operating budget for your irst ive years as an agent.

Include your start-up.

Sales Production and Compensation

Production and compensation estimates for the irst ive years of your agency

Available resources to consider:

Career Understanding materials (you will receive)

Your Agency Career Track Specialist (ACT Specialist)

Market Agency Field Executives (MAFEs)

State Farm agents in/around your area of interest

Public resources (see online list at the end of this document)

Your Business Proposal will be due prior to your scheduled interview date. Speciic dates will be communicated during the Career Understanding seminar or through your ACT Specialist.

Online Business Resources:

We have listed below some resources that may assist you as you develop your business proposal. – Counselors to America’s Small Business – U.S. Small Business Administration – U.S. Census Bureau – Business Owners Information Toolkit – Business Start-up Kit – Wall Street Journal Center for Entrepreneurs – Incorporation Information – All Around Business Advice – Inc. Magazine Business Information – he Entrepreneurs’ Help Page – National Association for the Self-Employed – Center for Women’s Business Research – National Association of Women Business Owners – Oice of Women’s Business Ownership

This is proprietary information owned by State Farm®, and it may be lawfully used only as authorized by appropriate Agency management. This form should be destroyed by Agency Recruiting upon receipt of the information needed to conduct the Candidate Review. This form should not be retained in the Agency Candidate File.