Veronica’s Franchise FDD, Profits & Costs (2025)
Veronica’s Insurance, founded in 2007 by Veronica Gallardo, has established itself as a leading broker in the Hispanic insurance market. Headquartered in San Bernardino, California, the company offers a comprehensive range of insurance services, including auto, life, home, business, motorcycle, renters, and boat insurance.
In 2019, Veronica’s Insurance began franchising its successful business model, aiming to expand its reach and provide entrepreneurial opportunities to individuals interested in the insurance sector.
Since then, the franchise has experienced significant growth, boasting over 90 locations across three states. This expansion underscores the brand’s appeal and the effectiveness of its franchise system.
A key differentiator for Veronica’s Insurance is its deep understanding and service of the Hispanic market, the fastest-growing population segment in the United States. The company prides itself on offering bilingual services, ensuring that clients receive assistance in both English and Spanish.
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Initial Investment
How much does it cost to start a Veronica’s franchise? It costs on average between $79,000 – $140,000 to start a Veronica’s franchised facility.
This includes costs for construction, equipment, inventory, and initial operating expenses. The exact amount depends on various factors, including the location, and whether the franchisee chooses to lease or purchase the property.
| Type of Expenditure | Amount |
|---|---|
| Initial Franchise Fee | $50,000 |
| Construction and Leasehold Improvements | $1,500 – $7,000 |
| Lease Deposits – Three Months | $1,500 – $6,000 |
| Furniture, Fixtures and Equipment | $2,000 – $7,000 |
| Signage | $1,000 – $7,000 |
| Computer, Software and Point of Sale System | $5,500 – $12,000 |
| Grand Opening Marketing | $6,000 |
| Initial Inventory | $3,350 – $3,600 |
| Utility Deposits | $500 – $1,000 |
| Insurance Deposits – Three Months | $1,500 – $5,000 |
| Travel for Initial Training | $500 – $3,000 |
| Professional Fees | $1,000 – $5,000 |
| Licenses and Permits | $100 – $2,000 |
| Additional Funds – Three Months | $5,000 – $25,000 |
| Total Estimate | $79,450 – $139,600 |
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Veronica’s Franchise Disclosure Document
Frequently Asked Questions
How many Veronica’s locations are there?
As of the latest available data, Veronica’s Insurance operates over 90 locations across the United States, including company-owned and franchise locations.
What is the total investment required to open a Veronica’s franchise?
The total investment required to open a Veronica’s franchise ranges from $79,000 to $140,000.
What are the ongoing fees for a Veronica’s franchise?
Veronica’s Insurance franchisees are required to pay a royalty fee of 15% of the franchisee’s gross sales, and the marketing fee is 2% of gross sales. These fees contribute to the support and development of the franchise system, including brand development and marketing initiatives.
What are the financial requirements to become a Veronica’s franchisee?
To become a Veronica’s Insurance franchisee, you need a minimum net worth of $100,000 and a liquid capital of $45,000. These financial requirements ensure that franchisees have the necessary resources to establish and sustain a successful business.
Who owns Veronica’s?
Veronica’s Insurance is owned by its founder and CEO, Veronica Gallardo. Established over 25 years ago, the company has grown to become a leading broker in the Hispanic insurance market, offering services such as auto, life, and health insurance
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