1
Franchise businesses may be smaller in scale compared to larger corporations and may not have the same bargaining power or financial resources to negotiate good group insurance rates with insurance providers.
2
Some franchise industries, such as restaurants or retail, may have higher turnover rates or more employees who work part-time, which can make it more challenging to obtain group insurance coverage at an affordable cost.
3
Franchise businesses must comply with both state and federal regulations when offering group insurance to their employees, which can be complex and time-consuming. This can lead to delays or difficulties in obtaining coverage.
4
Franchise businesses may be spread across multiple locations or regions, making it more difficult to administer group insurance plans and ensure that all employees are covered.
5
In some cases, the franchisor may have a preferred insurance provider or plan that franchisees are required to use, which may not be the best option for all franchise businesses.
Overall, obtaining good group insurance for franchise businesses can be challenging due to a combination of factors such as size, industry, compliance, fragmentation, and dependence on the franchisor. However, with careful planning and research, T&O can help franchises find suitable insurance plans that meets the needs of their employees while also being financially feasible for the business.
