October 10, 2007 - OVERLAND PARK, Kan – Dane Devlin, chief operating officer of Brooke Franchise Corporation, a subsidiary of Brooke Corporation (Nasdaq: BXXX), is pleased to announce the achievement of the “$1 Billion in Premiums Milestone” that was recently reached by Brooke franchisees. The company will celebrate this accomplishment during its 2007 National Franchise Convention, scheduled for Oct. 21-23 at the South Point Hotel in Las Vegas. The celebration will be held Monday, Oct. 22, during the vendor exhibitions from 5 p.m. to 8 p.m. in Exhibit Hall D at the South Point.
During September 2007, Brooke allocated $10,498,000 in commissions to its franchisees. Based on an estimated average commission rate of 12.5 percent, Brooke franchise and company-owned locations wrote premiums in September at a rate that would exceed $1 billion on an annualized basis.
“Expanding the Brooke network by adding more locations is very important from a branding standpoint, as it gets more Brooke signs on more street corners; however, the ultimate determinant of franchise success is selling insurance. Our franchisees last month sold insurance at a rate that will equal $1 billion in premiums per year, if the trend continues,” Devlin said. “Because insurance company relationships are essential to selling insurance, we look forward to celebrating this milestone during the national convention with our franchisees and insurance company partners.”
Nearly 1,000 Brooke franchisees, employees, directors, stockholders and guests are expected to attend the 2007 convention, which features a variety of educational speakers, exhibits and entertainment, including a keynote address by Super Bowl champion coach Dick Vermeil. For more information about the convention events and speakers, visit www.BrookeAgent.com/Convention.
About our company . . . Brooke Franchise Corporation is a subsidiary of Brooke Corporation (Nasdaq: BXXX) that distributes insurance and banking services through a network of more than 800 franchise and company-owned locations. Brooke Franchise was named the country’s No. 37 top franchise by Entrepreneur magazine (2007). For more information, visit www.brookeagent.com.
Contact. . . Kyle Garst, (913) 661-0123 ext. 508, kyle.garst@brookeagent.com
E-mail Distribution…To receive electronic press alerts, visit the Brooke Corporation Media Room at http://brookecorp.mediaroom.com and subscribe to our e-mail alerts online through the Get the News link.
This press release contains forward-looking statements. All forward-looking statements involve risks and uncertainties, and several factors could cause actual results to differ materially from those in the forward-looking statements. The following factors, among others, could cause actual results to differ from those indicated in the forward-looking statements: the uncertainty that Brooke Franchise and its affiliates will successfully create or acquire insurance agent locations and attract franchisees; the uncertainty that sales of insurance polices will continue at the same rate achieved in September of 2007; the uncertainty that the Company will achieve its short-term and long-term profitability and growth goals, uncertainties associated with market acceptance of and demand for the Company's products and services, the impact of competitive products and pricing, the dependence on third-party suppliers and their pricing, its ability to meet product demand, the availability of funding sources, the exposure to market risks, uncertainties associated with the development of technology, changes in the law and in economic, political and regulatory environments, changes in management, the dependence on intellectual property rights, the effectiveness of internal controls, and risks and factors described from time to time in reports and registration statements filed with the Securities and Exchange Commission by Brooke Corporation, Brooke Credit Corporation and Brook Capital Corporation, each an affiliate of Brooke Franchise Corporation. A more complete description of Brooke’s business is provided in Brooke Corporation’s most recent annual, quarterly and current reports, which are available from Brooke Corporation without charge or at www.sec.gov.
During September 2007, Brooke allocated $10,498,000 in commissions to its franchisees. Based on an estimated average commission rate of 12.5 percent, Brooke franchise and company-owned locations wrote premiums in September at a rate that would exceed $1 billion on an annualized basis.
“Expanding the Brooke network by adding more locations is very important from a branding standpoint, as it gets more Brooke signs on more street corners; however, the ultimate determinant of franchise success is selling insurance. Our franchisees last month sold insurance at a rate that will equal $1 billion in premiums per year, if the trend continues,” Devlin said. “Because insurance company relationships are essential to selling insurance, we look forward to celebrating this milestone during the national convention with our franchisees and insurance company partners.”
Nearly 1,000 Brooke franchisees, employees, directors, stockholders and guests are expected to attend the 2007 convention, which features a variety of educational speakers, exhibits and entertainment, including a keynote address by Super Bowl champion coach Dick Vermeil. For more information about the convention events and speakers, visit www.BrookeAgent.com/Convention.
About our company . . . Brooke Franchise Corporation is a subsidiary of Brooke Corporation (Nasdaq: BXXX) that distributes insurance and banking services through a network of more than 800 franchise and company-owned locations. Brooke Franchise was named the country’s No. 37 top franchise by Entrepreneur magazine (2007). For more information, visit www.brookeagent.com.
Contact. . . Kyle Garst, (913) 661-0123 ext. 508, kyle.garst@brookeagent.com
E-mail Distribution…To receive electronic press alerts, visit the Brooke Corporation Media Room at http://brookecorp.mediaroom.com and subscribe to our e-mail alerts online through the Get the News link.
This press release contains forward-looking statements. All forward-looking statements involve risks and uncertainties, and several factors could cause actual results to differ materially from those in the forward-looking statements. The following factors, among others, could cause actual results to differ from those indicated in the forward-looking statements: the uncertainty that Brooke Franchise and its affiliates will successfully create or acquire insurance agent locations and attract franchisees; the uncertainty that sales of insurance polices will continue at the same rate achieved in September of 2007; the uncertainty that the Company will achieve its short-term and long-term profitability and growth goals, uncertainties associated with market acceptance of and demand for the Company's products and services, the impact of competitive products and pricing, the dependence on third-party suppliers and their pricing, its ability to meet product demand, the availability of funding sources, the exposure to market risks, uncertainties associated with the development of technology, changes in the law and in economic, political and regulatory environments, changes in management, the dependence on intellectual property rights, the effectiveness of internal controls, and risks and factors described from time to time in reports and registration statements filed with the Securities and Exchange Commission by Brooke Corporation, Brooke Credit Corporation and Brook Capital Corporation, each an affiliate of Brooke Franchise Corporation. A more complete description of Brooke’s business is provided in Brooke Corporation’s most recent annual, quarterly and current reports, which are available from Brooke Corporation without charge or at www.sec.gov.
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