GreatFlorida Insurance

Founded in 1991 by Ike Peerbhai, GreatFlorida Insurance is headquartered in Melbourne, Florida, where Peerbhai remains Founder, CEO, and President. The company describes itself as Florida's largest privately held independent insurance franchise network. It had 138 locations statewide in December 2023, more than 140 in April and July 2025, 144 in September 2025, and currently has 146 locations across Florida. The Florida Insurance Brokers and Agencies industry is projected to reach $19.9 billion by 2026, giving the brand a presence in a sizable market. GreatFlorida Insurance offers franchise buyers a local agency model supported by an established statewide network. PeerSense presents this information as an independent assessment for investment review rather than promotional material.

Florida's Insurance Brokers and Agencies industry is projected to reach $19.9 billion in 2026. From 2021 to 2026, the sector is expected to grow at an average annual rate of 3.4 percent. The number of Florida businesses in the industry is projected to reach 38,691 by 2026, with average annual growth of 3.6 percent during that period. Employment is projected to reach approximately 88,038 people, growing at an average annual rate of 3.0 percent. Demand is supported by consumers seeking personal guidance, local service, and the ability to compare coverage from multiple carriers. Common coverage needs include auto, homeowners, flood, small business, and workers' compensation insurance. Florida's population growth and increasingly complex insurance products also support demand. The industry offers recurring commission revenue and the opportunity to build a book of business, while its fragmented structure leaves room for established networks such as GreatFlorida Insurance. Economic conditions, demographic changes, and regulation can continue to affect agency opportunities.

The initial franchise fee is $40,000, and qualified veterans receive a 10 percent discount on that fee. Estimated total startup costs range from $87,350 to $159,300, including the franchise fee, real estate, equipment, supplies, business licenses, and initial working capital. GreatFlorida Insurance presents this range as a low barrier to entry and a low cost franchise option. Applicants must have at least $150,000 in liquid capital. The available information does not state a percentage royalty on gross sales or a specific advertising fee. The model instead centers on carrier commissions, with franchisees retaining 100 percent ownership of the book of business they generate. Marketing support includes turnkey websites, SEO, social media, and local search tools. GreatFlorida Insurance is positioned as a mid tier franchise investment based on the stated startup range.

A GreatFlorida Insurance agency can offer personal coverage including auto, homeowners, renters, boat, umbrella, flood, and SR22 insurance. Commercial offerings include small business, professional liability, commercial auto, and workers' compensation coverage, along with specialty products for motorcycles and condos. Franchisees can shape their book of business around local demand, including commercial, personal auto, or homeowners insurance, without sales quotas or life insurance requirements. The model calls for a great team of loyal and hard working employees. The preferred owner has a 2 to 20 Property and Casualty license, at least three years of experience, an entrepreneurial outlook, community ties, and strong relationship skills. GreatFlorida Insurance provides ongoing training, carrier access, launch assistance, and guidance from its Home Office. Franchisees receive access to A rated carriers and appointments that may not be available to captive agents. Webnition has been the company's exclusive franchise wide marketing solution for a decade, providing web development, SEO, and lead generation. Agencies can sell anywhere in Florida within broadly defined local markets. The model can suit new independent agents and professionals leaving captive agencies such as Allstate or State Farm.

Franchisees earn commissions through the independent agent model, typically ranging from 10 percent to 21 percent of premiums, with possible additional bonuses paid by carriers. They retain 100 percent ownership of their generated book of business. Network level results include more than $42 million in total property and casualty revenue in 2013. Insurance Journal ranked GreatFlorida Insurance number 10 among its Top 20 Insurance Agency Partnerships in the United States in 2014 based on that 2013 revenue. In 2025, Insurance Journal ranked the company number 14 nationally among independent agency partnerships for the second consecutive year. The Loan Activity Score is 50, categorized as Moderate. The company added 20 locations in 2023, more than 30 new agencies during the 30 months before April 2025, and more than 30 during the 36 months before September 2025. Growth from 138 locations in December 2023 to 146 current locations indicates continued network expansion, although it does not replace unit level financial disclosure.

GreatFlorida Insurance grew from 138 Florida locations in December 2023 to more than 140 in April and July 2025, 144 in September 2025, and 146 currently. The company added 20 locations in 2023, opened more than 30 offices during the 30 months before April 2025, and added more than 30 agencies during the 36 months before September 2025. In February 2024, GreatFlorida Insurance announced an alliance with United Automobile Insurance Company, or UAIC, covering personal auto, SR22 insurance, and other personal products. Ike Peerbhai remains Founder, President, and CEO, and Dustyn Shroff serves as Vice President. Peter Look was named 2024 Agent of the Year. New owners have included Maria Munoz and Roxana Mendoza in Davenport in July 2025, Ryan Martino in West Palm Beach in April 2025, and Randy Hernandez in Conway in October 2023. GreatFlorida Insurance's position as Florida's largest privately held independent insurance franchise network supports its brand recognition. Entrepreneur magazine has included the company in the Entrepreneur Franchise 500 and ranked it number 324 for unit growth, financial strength, support, and brand power. Its carrier access, Florida focused support, Webnition marketing services, and 100 percent book ownership add to the model's differentiation. The company continues expanding from Tallahassee to Fort Lauderdale while developing partnerships such as its UAIC alliance.

The preferred franchisee is a motivated, community focused entrepreneur prepared to work in the local insurance market. Required qualifications include a 2 to 20 Property and Casualty license and at least three years of experience. Candidates should bring initiative, relationship building ability, and an interest in personalized customer service. Specific multi unit requirements are not provided, but continued expansion across Florida may create opportunities for additional locations. Territories are described as local markets, with agencies able to sell throughout Florida from Tallahassee to Fort Lauderdale. GreatFlorida Insurance's expert team supports the launch process from signing through opening, although no specific timeline is stated. The available information does not detail the franchise agreement term, renewal provisions, transfer rules, or resale considerations.

GreatFlorida Insurance merits careful due diligence for buyers evaluating Florida's insurance market. The brand was founded in 1991 and has positioned itself as Florida's largest privately held independent insurance franchise network. Its locations grew from 138 in December 2023 to 146 currently. The stated startup range of $87,350 to $159,300, carrier access, Webnition marketing support, operational guidance, and 100 percent ownership of the generated book of business are central parts of the opportunity. The model serves consumer demand for insurance choice and local advice in a Florida market projected to reach $19.9 billion by 2026. PeerSense provides due diligence information including the Loan Activity Score, location maps with Google ratings, FDD financial data, and side by side comparison tools for buyers reviewing the GreatFlorida Insurance franchise.