Goosehead Insurance, Inc (GSHD): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de l'assurance courtage, Goosehead Insurance, Inc (GSHD) se distingue comme une plate-forme révolutionnaire qui transforme la façon dont les consommateurs et les entreprises naviguent sur des paysages d'assurance complexes. En tirant parti de la technologie de pointe, d'un réseau robuste d'agents indépendants et d'un modèle de franchise unique, Goosehead a perturbé les canaux de distribution d'assurance traditionnels, offrant des solutions d'assurance multi-porte-portiques personnalisées qui permettent aux clients de prendre des décisions éclairées avec une facilité et une flexibilité sans précédent.

Goosehead Insurance, Inc (GSHD) - Modèle d'entreprise: partenariats clés

Compagnies d'assurance

Depuis 2024, Goosehead assurance s'associe à plusieurs assureurs nationaux et régionaux:

Compagnie d'assurance	Statut de partenariat	Nombre de produits
Progressif	Partenariat principal	37 produits d'assurance
Voyageurs	Partenaire stratégique	29 produits d'assurance
À l'échelle nationale	Partenaire complet	33 produits d'assurance

Agents et franchisés d'assurance indépendants

Goosehead Insurance opère avec le réseau de franchisés suivant:

• Total des franchisés: 1 850 au quatrième trimestre 2023
• Couverture géographique: 48 États
• Revenu moyen par franchisé: 463 000 $ par an

Fournisseurs de plate-forme technologique

Les partenariats technologiques clés comprennent:

Fournisseur de technologie	Type de service	Investissement annuel
Salesforce	Plate-forme CRM	2,7 millions de dollars
Services Web Amazon	Infrastructure cloud	1,9 million de dollars

Marketing numérique et partenaires de génération de leads

Métriques de partenariat numérique:

• Partenaires totaux de marketing numérique: 12
• Dépenses annuelles sur le marketing numérique: 8,3 millions de dollars
• Taux de conversion de génération de leads: 14,6%

Entreprises de technologie financière (fintech)

Détails de collaboration fintech:

Partenaire fintech	Objectif d'intégration	Valeur de collaboration annuelle
Plaid	Traitement des paiements	1,2 million de dollars
Bande	Transactions financières	$950,000

Goosehead Insurance, Inc (GSHD) - Modèle d'entreprise: activités clés

Recrutement et formation des agents d'assurance indépendants

Au quatrième trimestre 2023, Goosehead Insurance employait 2 431 agents d'assurance indépendants aux États-Unis. Le processus de recrutement et de formation des agents de l'entreprise implique:

• Programme de formation initial complet
• Ressources de développement professionnel en cours
• Structure de rémunération basée sur la performance

Métrique	2023 données
Agents indépendants totaux	2,431
Compensation annuelle moyenne des agents	$128,750
Taux de recrutement des nouveaux agents	Croissance de 18% sur l'autre

Développement de la plate-forme de technologie de vente d'assurance propriétaire

Investissement technologique: 12,3 millions de dollars en R&D pour 2023

• Système de citation d'assurance basée sur le cloud
• Interface de gestion des politiques en temps réel
• Outils avancés de gestion de la relation client (CRM)

Fournir des services de courtage d'assurance complets

Catégorie de service	Performance de 2023
Politiques d'assurance totales écrites	347,582
Prime écrite brute	661,4 millions de dollars
Valeur de politique moyenne	$1,902

Gestion de l'expansion du réseau de franchise

Métriques de croissance de la franchise pour 2023:

• Lieu de franchise totale: 187
• Nouvelles ouvertures de franchise: 24
• Taux d'expansion de la franchise: 14,7%

Offrir une consultation en assurance personnalisée

Métrique de consultation	2023 données
Consultations clients totaux	128,945
Durée de consultation moyenne	47 minutes
Taux de satisfaction client	92.3%

Goosehead Insurance, Inc (GSHD) - Modèle d'entreprise: Ressources clés

Technologie propriétaire et plate-forme de vente numérique

Au quatrième trimestre 2023, la plate-forme numérique de Goosehead Insurance prend en charge:

Métrique de la plate-forme	Données spécifiques
Total des canaux de vente numériques	4 plateformes intégrées
Volume annuel de transaction numérique	372,6 millions de dollars
Taux d'achèvement de devis en ligne	67.3%

Réseau étendu d'agents d'assurance indépendants

Composition du réseau d'agents au 31 décembre 2023:

Catégorie d'agent	Nombre
Agents licenciés totaux	1,845
Employés W-2	263
1099 entrepreneurs indépendants	1,582

Relations de transport solides

Détails du partenariat des opérateurs:

• Total d'assurance-assurance associée: 150+
• Les principales lignes d'assurance couvertes:
  • Assurance automobile
  • Assurance habitation
  • Assurance commerciale
  • Assurance-vie

Analyse des données et informations sur les clients

Capacité d'analyse	Métrique
Points de données client annuels	1,3 million
Précision de modélisation prédictive	84.6%
Taux de rétention de la clientèle	88.2%

Modèle commercial de franchise évolutive

Mesures d'extension de la franchise pour 2023:

Métrique de franchise	Valeur
Emplacements totaux de franchise	239
De nouvelles franchises ont ouvert ses portes en 2023	42
Revenus de franchise moyens	1,2 million de dollars

Goosehead Insurance, Inc (GSHD) - Modèle d'entreprise: propositions de valeur

Services de magasinage et de comparaison d'assurance personnalisés

L'assurance Goosehead fournit des services de magasinage d'assurance personnalisés avec les mesures clés suivantes:

Métrique	Valeur
Total d'assurance représentée	80+ transporteurs
Citations de comparaison moyenne par client	12-15 citations
Pourcentage d'épargne client	Économies potentielles moyennes de 30 à 40%

Accès à plusieurs assureurs via une plate-forme unique

La plate-forme offre un accès complet aux opérateurs:

• Compagnies d'assurance nationales et régionales
• Fournisseurs de couverture spécialisés
• Intégration numérique directe avec plus de 80 opérateurs

Expérience d'achat d'assurance axée sur la technologie

Fonctionnalité technologique	Spécification
Plateforme de devis numérique	Moteur de comparaison en temps réel
Application mobile	Disponible sur iOS et Android
Gestion des politiques en ligne	Accès numérique 24/7

Structure de la commission flexible pour les agents

Détails de la compensation des agents:

• Taux de commission de base: 10 à 20% de la prime
• Structures de bonus basées sur les performances
• Opportunités de revenu résiduel

Options de couverture complètes

Produit d'assurance	Types de couverture
Assurance automobile	Responsabilité, collision, complexe
Assurance habitation	Propriété, responsabilité, articles personnels
Assurance entreprise	Responsabilité générale, biens, travailleurs
Assurance-vie	Terme, Vie entière, universel

Goosehead Insurance, Inc (GSHD) - Modèle d'entreprise: relations avec les clients

Plate-forme numérique en libre-service

Au quatrième trimestre 2023, la plate-forme numérique de Goosehead Insurance prend en charge:

Fonctionnalité de service numérique	Disponibilité
Demande de citation de politique en ligne	24/7 accessible
Gestion des politiques numériques	100% Web / mobile activé
Portail de soumission des réclamations	Traitement en temps réel

Consultation d'agent personnalisée

Statistiques du réseau d'assurance Goosehead pour 2023:

• Total d'agents d'assurance indépendants: 2 200+
• Taux moyen de la commission des agents: 50-80%
• Temps de correspondance moyen du client à l'agent: 24-48 heures

Support client et gestion des politiques en cours

Canal de support	Disponibilité	Temps de réponse
Support téléphonique	8h à 20h CST	Moins de 10 minutes
Assistance par e-mail	24/7	Dans les 24 heures
Chat en direct	Heures de bureau	Immédiat

Options d'interaction virtuelle et en personne

Canaux d'interaction client pour 2023:

• Consultations virtuelles: 65%
• Réunions en personne: 35%
• Options de conférences vidéo: Disponible à l'échelle nationale

Services de révision et de recommandation proactives de la politique

Fonctionnalité de service	Fréquence	Engagement client
Examen annuel des politiques	Une fois par an	87% de participation des clients
Comparaison automatisée des taux	Trimestriel	93% Satisfaction du client

Goosehead Insurance, Inc (GSHD) - Modèle d'entreprise: canaux

Plateforme en ligne numérique

Au quatrième trimestre 2023, la plate-forme en ligne numérique de Goosehead Insurance a traité 37,6% des demandes totales de devis d'assurance. La plate-forme prend en charge les comparaisons de devis en temps réel entre plus de 70 compagnies d'assurance.

Métrique de la plate-forme numérique	2023 données
Demandes de devis en ligne	1,2 million
Taux de conversion	8.3%
Session utilisateur moyenne	12,4 minutes

Application mobile

L'application mobile de Goosehead, lancée en 2019, a enregistré 425 000 utilisateurs actifs en 2023 avec une note de 4,7 / 5 sur les plates-formes iOS et Android.

• Compte de téléchargement d'applications: 672 000
• Utilisateurs actifs mensuels: 185 000
• Caractéristiques de gestion des politiques: 12 fonctions distinctes

Réseau d'agent indépendant

En décembre 2023, Goosehead conserve un réseau de 1 850 agents indépendants dans 50 États.

Métrique du réseau d'agent	2023 données
Agents indépendants totaux	1,850
Ventes moyennes par agent	$487,000
Nouvel agent intégré	276 agents

Lieu de franchise

Goosehead Insurance exploite 262 emplacements de franchise au quatrième trimestre 2023, avec des plans d'expansion ciblant 15-20 nouveaux emplacements en 2024.

• Emplacements totaux de franchise: 262
• États avec présence de franchise: 39
• Contribution des revenus de franchise: 41,2% du total des revenus de l'entreprise

Centre d'assistance téléphonique

Le centre de support téléphonique de l'entreprise a géré 412 000 interactions client en 2023.

Métrique du centre d'appel	Performance de 2023
Interactions totales du client	412,000
Durée d'appel moyenne	14,6 minutes
Évaluation de satisfaction du client	4.5/5

Goosehead Insurance, Inc (GSHD) - Modèle d'entreprise: segments de clientèle

Propriétaires de petites entreprises

Au quatrième trimestre 2023, Goosehead Insurance dessert environ 37 500 clients d'assurance-petite entreprise. La prime annuelle moyenne pour les polices d'assurance des petites entreprises est de 2 850 $.

Taille de l'entreprise	Nombre de clients	Prime annuelle moyenne
1 à 10 employés	22,500	$2,350
11-50 employés	12,000	$4,200
51-100 employés	3,000	$6,750

Consommateurs individuels

Goosehead Insurance compte 143 250 clients de consommateurs individuels en 2023, avec une valeur annuelle moyenne de police d'assurance personnelle de 1 685 $.

• Clients personnels d'assurance automobile: 89 500
• Clients d'assurance habitation: 62,750
• Clients d'assurance locataires: 31 000

Ménages à revenu moyen

Les ménages à revenu intermédiaire représentent 65% de la clientèle de Goosehead, avec une fourchette de revenu des ménages moyen de 55 000 $ à 120 000 $.

Gamme de revenus	Pourcentage de clients	Valeur de politique moyenne
$55,000 - $75,000	28%	$1,450
$75,000 - $120,000	37%	$2,100

Individus à haute nette

Les clients à haute teneur en nouant représentent 12% de la clientèle de Goosehead, avec une valeur annuelle moyenne de portefeuille d'assurance de 7 500 $.

• Clients totaux à haute noue: 17 190
• Revenu moyen des ménages: 250 000 $ +
• Couverture d'assurance spécialisée: Polices parapluies, protection des actifs de luxe

Groupes démographiques spécifiques

L'assurance-orage cible des segments démographiques spécifiques avec des solutions d'assurance sur mesure.

Groupe démographique	Nombre de clients	Produits d'assurance clés
Jeunes professionnels (25-35)	29,750	Locataires, auto, responsabilité professionnelle
Personnel militaire	8,250	Remises militaires, couverture de déploiement
Travailleurs à distance	15,600	Assurance du bureau à domicile, cyber-protection

Goosehead Insurance, Inc (GSHD) - Modèle d'entreprise: Structure des coûts

Frais de recrutement et de formation des agents

Au cours de l'exercice 2023, Goosehead Insurance a déclaré des dépenses totales liées aux agents de 56,3 millions de dollars. La ventilation comprend:

Catégorie de dépenses	Montant ($)
Frais de recrutement	18,700,000
Programmes de formation	12,500,000
Compensation des agents	25,100,000

Développement et maintenance de la plate-forme technologique

L'investissement technologique pour 2023 a totalisé 22,1 millions de dollars, avec des allocations spécifiques:

• Développement de logiciels: 14,3 millions de dollars
• Infrastructure cloud: 4,2 millions de dollars
• Cybersécurité: 3,6 millions de dollars

Coûts de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 ont atteint 41,7 millions de dollars, structurée comme suit:

Canal de marketing	Dépenser ($)
Marketing numérique	17,900,000
Publicité traditionnelle	11,300,000
Programmes de référence	12,500,000

Infrastructure de soutien à la franchise

Les dépenses liées à la franchise en 2023 étaient de 33,6 millions de dollars, y compris:

• Développement de la franchise: 12,4 millions de dollars
• Support opérationnel: 14,2 millions de dollars
• Intégration de la technologie de franchise: 7 millions de dollars

Frais généraux et dépenses administratives opérationnelles

Les frais administratifs pour 2023 s'élevaient à 47,2 millions de dollars, distribués comme suit:

Catégorie de dépenses	Montant ($)
Salaires de l'entreprise	26,500,000
Installations de bureau	8,700,000
Juridique et conformité	6,300,000
Autres frais administratifs	5,700,000

Goosehead Insurance, Inc (GSHD) - Modèle d'entreprise: sources de revenus

Commission des ventes d'assurance

Pour l'exercice 2023, Goosehead Insurance a déclaré des commissions totales de 252,3 millions de dollars provenant des ventes d'assurance. La Société génère des revenus grâce à des pourcentages de commission qui varient selon le type de produit d'assurance.

Produit d'assurance	Pourcentage de commission	Contribution annuelle des revenus
Assurance automobile	8-15%	67,5 millions de dollars
Assurance habitation	10-20%	89,2 millions de dollars
Assurance-vie	15-25%	45,6 millions de dollars

Frais de licence de franchise

En 2023, Goosehead Insurance a généré 18,4 millions de dollars à partir des frais de licence de franchise. La société facture aux franchisés des frais initiaux et des paiements de redevances en cours.

• Frais de franchise initiaux: 49 500 $
• Taux de redevance en cours: 4 à 5% des commissions brutes
• Total des franchises au quatrième trimestre 2023: 237

Frais de service de plate-forme technologique

La plate-forme technologique propriétaire de la société a généré 12,7 millions de dollars de frais de service au cours de 2023.

Commissions de renouvellement des politiques récurrentes

Les commissions récurrentes de renouvellement des politiques ont totalisé 86,5 millions de dollars en 2023, ce qui représente 34% des revenus totaux de la Commission.

Paiements d'incitation basés sur la performance

Les paiements d'incitation basés sur le rendement des compagnies d'assurance s'élevaient à 24,6 millions de dollars en 2023.

Métrique de performance	Montant incitatif
Cibles de volume	15,3 millions de dollars
Bonus de rapport de perte	6,2 millions de dollars
Nouvelle acquisition de clients	3,1 millions de dollars

Goosehead Insurance, Inc (GSHD) - Canvas Business Model: Value Propositions

You're looking at the core reasons why clients choose Goosehead Insurance, Inc (GSHD) over other options in the market as of late 2025. It boils down to choice, service quality, and an agent-driven, tech-backed process.

Unprecedented choice is a cornerstone. Goosehead Insurance, Inc. provides access to policies from over 200 carriers. This breadth allows agents to shop the market extensively for the client.

World-class service is clearly reflected in retention figures. The client retention rate stood at 85% as of Q3 2025. This high rate suggests clients are finding the value proposition compelling enough to stay.

The business model is heavily reliant on its distribution network, which is growing. Here's a quick look at the scale supporting this value proposition as of mid-to-late 2025:

Metric	Value (Q3 2025 or Guidance)	Context
Client Retention Rate	85%	As of Q3 2025 end
Total Written Premiums (Q3 2025)	$1.2 billion	Up 15% year-over-year
Policies in Force (Q3 2025)	Approximately 1,853,000	A 13% increase
Core Revenue (Q3 2025)	$83.9 million	A 14% increase
Full-Year 2025 Total Written Premiums Guidance	Between $4.38 billion and $4.65 billion	Represents up to 22% growth
Adjusted EBITDA Margin (Q3 2025)	33%	Indicates operational efficiency

The technology-enabled, transparent insurance shopping experience is supported by ongoing investment. For instance, the company reported Adjusted EBITDA growth of 14% in Q3 2025, even while making substantial investments in people and technology. This tech focus aims to streamline the process.

Expert, personalized consultation from independent agents is the human element driving sales. The producer count is a key indicator of this capacity:

• Corporate agent headcount reached 479 in Q2 2025.
• Total number of franchise producers reached 2,085 in Q2 2025.

This network is focused on long-term client advocacy, not just a single-carrier sale. The growth in Policies in Force by 13% to approximately 1,853,000 in Q3 2025, alongside the 85% client retention rate, shows this advocacy translates directly into sticky, recurring business volume.

Goosehead Insurance, Inc (GSHD) - Canvas Business Model: Customer Relationships

You're building a business model where the relationship with the client is mediated by a highly skilled agent, supported by centralized infrastructure. This focus is key to Goosehead Insurance, Inc's strategy.

Dedicated, high-touch service from licensed agents is central to the Goosehead Insurance, Inc. approach. The company offers broad product choice by representing over 200 insurance companies that underwrite personal and commercial lines. This breadth of choice is delivered through a network of producers.

The scale of the distribution and service network as of the second quarter of 2025 includes:

Metric	Value (Late 2025)
Total Policies in Force	Approximately 1.79 million
Corporate Agents Headcount (Q2 2025)	479
Franchise Producers (Q2 2025)	2,085
Policies in Force Year-over-Year Growth (Q2 2025)	13%

This structure allows agents to focus on new business acquisition, as service tasks are handled elsewhere.

Centralized service model for consistent, ongoing support is managed through dedicated service centers. These centers handle all client service and renewals, which provides tangible benefits to the business. The high level of service delivered by these teams is reflected in past Net Promoter Scores (NPS) of 89 in 2024 and 92 in 2023. This centralization allows agents to focus virtually all their time on cultivating new Referral Partner relationships and winning new business, instead of preserving existing business.

Automated, digital self-service via the Digital Agent platform extends the reach beyond traditional agents. This proprietary online quoting platform lets clients shop home and auto insurance rates with top carriers. The platform combines millions of data points, including Goosehead Insurance, Inc.'s proprietary quoting data from hundreds of thousands of transactions, to bring clients actual quotes specific to their needs. Clients then finalize these quotes through a short call with a local licensed agent.

High client retention indicates a strong, long-term relationship focus. The company has maintained strong client loyalty, reporting a client retention rate of 84% in the first and second quarters of 2025. This high rate is attributed to the combination of broad product choice and world-class service experience.

Referral-driven model fostering trust and word-of-mouth growth is a core component of the go-to-market strategy. The model emphasizes establishing referral relationships with financial services providers, which is supported by the high retention figures, suggesting deep client trust. The service agents are also highly trained in cross-selling and generating referral business, which contributes to New Business Revenue.

Goosehead Insurance, Inc (GSHD) - Canvas Business Model: Channels

You're looking at how Goosehead Insurance, Inc (GSHD) gets its product to the customer, which is a mix of direct sales, a massive franchise network, and strategic integrations. This multi-channel approach is key to their growth strategy, balancing capital-light expansion with direct control.

Corporate Channel: Company-owned sales offices and corporate agents

The corporate channel provides a direct, company-controlled sales force. This segment is seeing significant investment in personnel, which is a deliberate move to build capacity and seed future franchise owners. As of the third quarter of 2025, the corporate agent headcount stood at 523, representing a 14% increase over the prior year period. The written premiums generated through this channel for Q3 2025 were $206 million, which was up 1% year-over-year. This channel is also used to transition experienced agents into franchise ownership, which is a core part of their strategy to ensure quality in the franchise community.

Franchise Channel: Independent franchise owners and their producers

This is the engine of Goosehead Insurance, Inc (GSHD)'s scale. The company relies on independent franchise owners to drive the majority of premium volume. The total number of franchise producers reached 2,124 as of September 30, 2025. Franchise premiums accounted for $976 million of the total written premiums in Q3 2025, marking an 18% increase year-over-year. The structure for these partners is clear regarding compensation split: franchisees pay a royalty fee of 20% of new business commissions and 50% of renewal commissions to Goosehead Insurance, Inc (GSHD). The company actively supports this channel's growth, for instance, the Agency Staffing Program (ASP) helped franchise owners place a record 90 new producers in the third quarter of 2025. Furthermore, 34 new agencies were launched across 13 different states during that same quarter.

Here's a quick look at the channel mix based on Q3 2025 written premiums:

Channel Segment	Q3 2025 Written Premiums	Year-over-Year Premium Growth
Franchise Premiums	$976 million	18%
Corporate Premiums	$206 million	1%
Total Written Premiums	$1.2 billion	15%

Digital Agent Platform: Direct-to-consumer online quoting and binding

Goosehead Insurance, Inc (GSHD) supports its agents with a proprietary technology platform, which includes a direct-to-consumer quoting platform launched back in 2021. This platform, which uses agent-generated data, allows consumers to get real-time quotes with as little as three data points in under two minutes. The focus on technology is a major driver; digital investments were cited as driving 22% annual premium growth to $1 billion in the first quarter of 2025. Looking ahead, the company plans to spend between $25 million and $35 million annually on its digital agent platform for 2026-2027.

Embedded Partnerships: Integration within real estate and mortgage firms

This channel focuses on integrating insurance offerings directly where clients are making major financial decisions. Goosehead Insurance, Inc (GSHD) announced in Q3 2025 that it signed an embedded franchise partnership with a top 20 US mortgage lender and servicer. This move is part of the strategy to build new go-to-market motions through enterprise sales and partnerships. The overall client base is substantial, with policies in force reaching approximately 1.85 million as of the end of Q3 2025.

Client Referrals: Significant organic lead flow from existing clients

While not always quantified as a separate revenue line, client satisfaction directly fuels organic growth. The company reported a client retention rate of 85% as of the third quarter of 2025. This high retention, coupled with the total client base of over 1 million clients, suggests a strong foundation for organic lead flow and referrals. The company is focused on leveraging technology to improve client retention and generate these referrals.

Key operational metrics supporting these channels in Q3 2025 include:

• Total Policies in Force: Approximately 1,853,000.
• Client Retention Rate: 85%.
• Total Revenue (Q3 2025): $90.4 million, up 16% year-over-year.
• Core Revenue (Q3 2025): $83.9 million, up 14% year-over-year.

Finance: finalize 2026 digital spend budget by end of Q4.

Goosehead Insurance, Inc (GSHD) - Canvas Business Model: Customer Segments

You're looking at the core of Goosehead Insurance, Inc (GSHD)'s distribution engine, which is built around connecting consumers and businesses with a vast selection of insurance products. This model targets several distinct groups, all served through its corporate agents and its rapidly growing network of franchise owners, who are themselves entrepreneurs.

US Personal Lines Insurance Consumers (Homeowners, Auto, Renters)

This is the primary end-user base. Goosehead Insurance, Inc. focuses on providing these consumers with broad product choice across personal lines like homeowners, auto, and specialty coverages. The scale of this segment is massive; as of early 2025, Goosehead Insurance was placing total written premiums projected to be between $\mathbf{\$4.38}$ billion and $\mathbf{\$4.65}$ billion for the full fiscal year 2025. To put that in perspective, the company stated in Q1 2025 that its total placed premium was roughly $\mathbf{\$4}$ billion, representing still less than $\mathbf{1\%}$ of the over $\mathbf{\$500}$ billion U.S. personal lines market. The focus on service aims to retain these clients, with retention rates reported at $\mathbf{84\%}$ in Q1 and Q2 2025, moving up to $\mathbf{85\%}$ in Q3 2025.

The volume of policies Goosehead Insurance, Inc. services is substantial:

• Policies in force grew $\mathbf{13\%}$ year-over-year to approximately $\mathbf{1.73}$ million as of Q1 2025.
• Policies in force increased to approximately $\mathbf{1.79}$ million by Q2 2025.

Small to Medium-sized Commercial Insurance Clients

While the emphasis is heavily on personal lines, Goosehead Insurance, Inc. serves commercial clients by representing over $\mathbf{150}$ insurance companies that underwrite both personal and commercial lines. This segment benefits from the same independent agency model, allowing producers to shop a wide market for small to medium-sized business needs, though specific revenue or premium data segmented for commercial lines isn't broken out separately from the total written premiums.

Entrepreneurs and Sales Professionals (Franchise Owners/Producers)

This group represents the core distribution channel-the entrepreneurs who own and operate the franchises. Goosehead Insurance, Inc. is the largest and fastest-growing independent insurance agency in the U.S., driven by this model. As of late 2024, the company had $\mathbf{1,103}$ operating franchise locations, growing to a total of $\mathbf{1,115}$ locations ($\mathbf{1,103}$ franchised and $\mathbf{12}$ company-owned) as of the latest data in 2025. The sales force is expanding aggressively:

• Total franchise producers reached $\mathbf{2,097}$ in Q1 2025.
• Total franchise producers reached $\mathbf{2,085}$ in Q2 2025.
• Corporate agent headcount stood at $\mathbf{479}$ in Q2 2025.

The financial structure for these entrepreneurs is defined by specific fees and revenue splits. The initial investment to start a franchise ranges from $\mathbf{\$66,000}$ to $\mathbf{\$109,000}$. The revenue sharing is quite specific, which is important for you to model:

Revenue Component	Franchisee Royalty/Fee Structure
New Business Commission	Franchisee pays $\mathbf{20\%}$ royalty to Goosehead Insurance, Inc.
Renewal Commission	Franchisee pays $\mathbf{50\%}$ royalty to Goosehead Insurance, Inc.
Marketing Contribution	Up to $\mathbf{2\%}$ of gross revenues

Productivity for these producers is a key metric. For franchise producers with three or more years of tenure, the average gross revenue was $\mathbf{\$234,376}$ as of early 2023 data. The average revenue per unit (AUV) for a franchised business is estimated at $\mathbf{\$113,000}$ annually.

Strategic Referral Partners (Mortgage Lenders, Real Estate Brokers)

Goosehead Insurance, Inc. actively builds relationships with entities that have direct access to consumers needing insurance at key moments, such as when buying or refinancing a home. This channel is a significant growth driver. For instance, in Q3 2025, the company announced it signed an embedded franchise partnership with a top $\mathbf{20}$ U.S. mortgage lender and servicer. This type of partnership integrates the insurance offering directly into the partner's transaction flow, making the customer segment accessible at the point of need. The growth in the corporate sales team, which jumped $\mathbf{46\%}$ to $\mathbf{426}$ in Q1 2025, is partly aimed at accelerating growth through these enterprise sales and partnerships.

Here's a quick comparison of the producer base growth:

• Corporate Agent Headcount (Q1 2025): $\mathbf{426}$.
• Corporate Agent Headcount (Q2 2025): $\mathbf{479}$, up $\mathbf{53\%}$ year-over-year.
• Franchise Producers (Q1 2025): $\mathbf{2,097}$.
• Franchise Producers (Q2 2025): $\mathbf{2,085}$, up $\mathbf{5\%}$ year-over-year.

Finance: draft 13-week cash view by Friday.

Goosehead Insurance, Inc (GSHD) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Goosehead Insurance, Inc's growth model as of late 2025. This structure heavily reflects their investment in scale, both through corporate personnel and supporting the franchise network.

The third quarter of 2025 showed total operating expenses reaching $69.2 million, up from $61.6 million in the prior-year period. When you strip out non-cash items like equity-based compensation, depreciation, amortization, and impairment expenses, the core operating expenses were $60.7 million for Q3 2025, marking a 17% increase year-over-year.

Here's a quick look at the major components of that cost base for Q3 2025:

Cost Component	Q3 2025 Amount
Employee compensation and benefits	$48.7 million
General and administrative expenses	$17.1 million
Total Operating Expenses (GAAP)	$69.2 million
Total Operating Expenses (Excluding certain items)	$60.7 million

Employee compensation and benefits totaled $48.7 million in Q3 2025, up from $43.2 million the year before. This increase was primarily driven by investments in corporate producers and the service and technology functions. To be fair, this reflects the hiring needed to support their 15% premium growth in the quarter.

General and administrative expenses were $17.1 million for the third quarter, an increase from $15.2 million in the same period last year. The primary reason for this rise was the ongoing investment in technology and systems designed to drive growth and improve the client experience.

Technology and systems investment to drive growth is a significant, though sometimes hidden, cost. For example, year-to-date in 2025, Goosehead Insurance invested $10.9 million into the digital agent platform. Of that, $8 million has been capitalized, with the remaining $2.9 million flowing through operating expenses. Management anticipates this investment pace will continue, projecting between $25 million and $35 million in platform investment for each of 2026 and 2027.

Franchise support and training costs are embedded in both corporate overhead and the franchise fee structure. The Agency Principal or Manager must complete a mandatory Initial Training Program, which covers sales, marketing, service, and systems, often at the Westlake, Texas headquarters. All licensed employees also require Producer Training before accessing proprietary databases. Franchisees cover the costs for a replacement if the principal leaves within 30 days.

• The initial franchise fee is a major upfront cost for new agency owners.
• Franchisees must contribute up to 2% of gross revenues toward marketing and advertising efforts.
• Franchisees pay a royalty fee of 20% of gross revenues for new business.
• Franchisees pay a royalty fee of 50% of gross revenues for renewals.

Finance: draft 13-week cash view by Friday.

Goosehead Insurance, Inc (GSHD) - Canvas Business Model: Revenue Streams

Goosehead Insurance, Inc (GSHD) projects its full-year 2025 total revenue to be between $350 million to $385 million.

The revenue generation for Goosehead Insurance, Inc (GSHD) is heavily weighted toward recurring streams, as evidenced by the Q3 2025 results where Core Revenue accounted for 92.8% of the total $90.4 million in revenue for that period.

Revenue Component (Q3 2025 Snapshot)	Amount (Millions USD)	Percentage of Total Revenue (Q3 2025)
Total Revenue	$90.4	100%
Core Revenues (Commissions & Royalties)	$83.9	92.8%
Contingent Commissions	$4.5	5.0%
Initial Franchise Fees & Other (Cost Recovery)	$1.4 to $2.0 (using $1.4M from one source and 2.2% of $90.4M is $1.98M)	2.2%

The Core Revenue stream, which is the most reliable, is comprised of New Business Commissions, Agency Fees, New Business Royalty Fees, Renewal Commissions, and Renewal Royalty Fees.

Renewal Commissions are a key component of this Core Revenue, supported by a robust client retention rate of 85% as of Q3 2025.

The franchise model contributes high-margin revenue through upfront fees and ongoing royalties.

• Initial Franchise Fees are around $50,000 per new franchise.
• Franchisees pay a royalty fee of 20% of gross revenues for new business generated.
• Franchisees pay a royalty fee of 50% of gross revenues for renewal business.
• Franchisees also contribute up to 2% of gross revenues for marketing and advertising efforts.

In Q3 2025, revenue categorized as cost recovery, which largely represents initial franchise fees, was $1.4 million.

Contingent commissions, which are performance-based bonuses from carriers, spiked to $4.5 million in Q2 2025, up 103% year-over-year for that quarter.

Finance: draft 13-week cash view by Friday.