Farmers Insurance

In July 2014, Linda Ungard attended a workshop at the Lock Haven University Small Business Development Center (SBDC) entitled “The First Step for Starting a Small Business.” She had a vision to open up a Farmers Insurance Agency in the area and had been in the preliminary stages of planning the endeavor. From the class, Linda learned about the business plan development process, the licenses and registrations required to open a business, environmental concerns when starting a business, accounting and bookkeeping best practices, and business continuity planning considerations.

After the workshop, Linda met with a business consultant at the SBDC to review her plans and intentions of opening an insurance agency in Jersey Shore. They reviewed the information that Farmers required, as well as the numerous registrations required by the state and federal governments to operate a business.

Her consultant provided assistance in researching demographic information to include in her business plan. This information provided Linda with valuable insight into the local market and helped her to identify the size of her target market, in addition to begin required by Farmers Insurance. Her consultant also helped her to identify and price different advertising venues for her business.

Linda worked directly with the SBDC to develop her financial projections based off of the market and demographic research that was completed. They were able to work together to develop realistic projections and identify goals for the new business. Her consultant also worked closely with her in reviewing her business plan and providing industry information.

However, every startup is not without its bumps in the road. Just prior to opening, Linda was notified that she would have to perform some unexpected renovations due to the change in usage of her building. Ever determined, Linda did not let this prevent her from making her vision a reality, and in October of 2014, she officially opened the doors to her Farmers Insurance office.