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| Author: | Jayc4929 [ Sun 02 Oct 2011 11:43 ] |
| Post subject: | unexpected opportunity |
I recieved a call the other day from a well known Bondsman. He told me of an opportunity that came across him through a insurance company that he used to use.Apparently this insurance company is in need of a new general manager of a bonding company.Now I have told alot of people both here and offline that I am not that interested in the bonding side of our profession,but this bondsman has sparked my interest a little bit.He is pretty persuasive!! lol I believe he will be calling this insuance company and putting my name in the hat,this week some time.His word carries alot of wieght with this company also. Now I have found that it is very humbling and it is vey appreciated that my name even came up when he was asked if he could recomend anyone in my a/o that could do the job well. My problem arises though when thinking about this,I being under the impression that I would never really participate in the bonding side,I never really fully studied that side of the process.So I find myself slightly nervous going into a venture like this.Over the years of doing recovery I believe I have learned a little bit of how NOT to write but that is just from the recovery side of it. This past week I have been offered a number of job opportunities not all of them were affiliated with bonding or recovery but just the same,I have been humbled by this as it is a change of pace for me.Usually when I am looking for the work its no place to be found but lately I have been slightly idling and trying to figure out which direction I would head in.Fortunately I have people that believe I can do certain things and as I said that is very humbling.Now I have a different stress level,and that iswhich opportunity to take!! What do you bondsmen think?Should I venture into the bonding side of things?what should I expect from a bonding company in large city? income wise.I know the income is based on alot of work,I am not one of those people that believe I can sit on my arse and let the cash roll in and I do know bondsman work at all hours of the night.I am used to that already in doing recoveries!! Anyway just wanted to share my experience of this past week and get some feedback on entering into the bonding side. |
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| Author: | speezack [ Sun 02 Oct 2011 17:34 ] |
| Post subject: | Re: unexpected opportunity |
Quote: insurance company is in need of a new general manager of a bonding company That is a mighty broad title... oversee a stable of agents?... oversee the office staff... go into the field with the agents?... I think I would pin them down on their definition first of all.... including duties and compensation... never be afraid to ask what it pays... maybe not up front in the interview but in the course of the discussion certainly. I will tell you this... in most corporate structures... especially sales type positions... managers are the first to fall... occupying the least secure jobs within the structure of the company... also, take the blame for most problems that arise. Also, remember that job descriptions are most always described as "a really great opportunity!!"... and I have found that the more difficult the job is and the harder it is to fill the position.... the "prettier" they make it appear. Not saying what your offered is like that but be wary and check it out in depth.... and remember the old saying... "if it looks too good to be true.......... it probably is.... " Only one other thing I might add.... as for the bail bonds business.... bonding is a very specialized field... I have found it quite rewarding and for the time spent it pays very well, the only problem is that the business is undergoing some rather drastic changes on a National level and it is difficult at this time to know just what or where it is headed... just think about that before you jump. Good luck with whatever you decide. |
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| Author: | KARMA [ Sun 02 Oct 2011 17:38 ] |
| Post subject: | Re: unexpected opportunity |
Ditto Bill, I do not think that it could have been said any better. |
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| Author: | Jayc4929 [ Sun 02 Oct 2011 18:32 ] |
| Post subject: | Re: unexpected opportunity |
Bill, I am under the impression that the title consists of myself running the company.Meaning it would be my own company and the insurance company would be my monetary support.Of course they would take their cut,which I believe will be a 60/40 split.I believe that to be a pretty fair cut considering they would be taking all the risk,paying my office bills (ie. utilities,supplies,marketing) Without my own cash to add to the pot. Basically I would be taking completely over due to them terminating their relationship with the previous bondsman.I am looking at it like this....It seems that it will be as if I were starting my own bonding company, only with the financial backing of the insurance company. As for the bonding business itself,I do know the plight it is in.I have been doing the recovery side of the business for 6 years now and paid certain attentions to the bonding aspect as it pertained to my side.I just really never paid alot of attention otherwise.As of now this job was not offered directly to me by the insurance company,I was only refered to them after they asked someone if they knew of anyone in the a/o that could do the job.This insurance company hasnt yet tried to contact me and sell the job to me yet,so they havent fed me the "really great opportunity" line yet.That came from a man that I respect and has no real gain to be made by selling the position to me. My name will be dropped to them in some time this week and from there I am assuming they will contact me to schedule a meeting.I will have some questions for them as well and a few of the ones you stated will definately be part of those questions. |
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| Author: | DMARTZ [ Sun 02 Oct 2011 19:33 ] |
| Post subject: | Re: unexpected opportunity |
Hey Jay, Be sure to ask about your duties as Most General Agents manage other agents ether by State or a certain territory. I was a MGA for 10 years in Louisiana and was over 84 agents more or less. If you do not like paperwork this would no be your cup of tea as there is tons of it. You have to keep up with everyones powers, company percentage, court dates,forfeitures, paperwork to the State, paperwork to the company, you are responsible for all actions of sub-agents and their agents, You have to train new agents in paperwork, you will have to OK boands over so much. Issue powers. There is alot to being a General Agent. What you are describing is just a bondsman with their own contract, A 60/40 contract will also mean you are liable for 40% of the bond if your defendant skips unless you have a no liable contract. Most contract bondsman have to have good credit or some kind of collateral, Buff Fund, to cover your percent of the bond |
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