I took my license test yesterday and passed with flying colors. 90th percentile, yay! I scheduled my 2nd and last test for Thursday morning.
Today, I drove 2 hours to meet with a “local” Surety company about signing on with them. They basically offered me 13% bond cost + 10% buildup fund and acknowledged that over time, the bond cost will come down. They took me out to lunch, though the restaurant they picked had a “B” rating by the regulatory department…hope we don’t get sick!
Anyway, I received lots of excellent information from them and updated my business plan and financial projections accordingly. They suggested an alternate strategy which is growing on me:
Our local urban areas are filled with long established bondsmen, however if I am willing to drive an hour in any direction, there are around a half dozen rural counties that have far less competition (granted, far less crime too). So in the begining, my focus will be on these rural areas and than I can expand into my local area. Its counter-intuitive, but has an elegant sort of logic to it.
-bbc
