“Bargain investment, sellable products, handsome revenue” _ so says the slogan that UPD Guarantee, a non-life insurance broker, is using to attract prospective franchisees. UPD Broker, an established non-life insurance broker, started UPD Guarantee two years ago to expand its network while sharing its expertise with would-be business owners with limited budgets.
Founded in 2000, UPD Broker diversified from the original family business of petrol stations. Because petrol retail margins are very low, founder Yupadee Vipattipumiprates decided to add a small sideline business selling compulsory third-party vehicle insurance to customers.
The business began to expand into other services, including annual car check-ups and registration renewals. It also became a broker for various non-life insurance companies for voluntary vehicle insurance.
Mananya Vipattipumiprates, the company’s 29-year-old managing director, noted that it had continued growing in line with a goal to be a one-stop service for all car-related matters.
She said that annual revenue growth for UPD Broker was around 10%.
Currently, UPD Broker is a one-stop centre offering a wide range of services to car owners, including compulsory and voluntary insurance from more than 20 firms such as Bangkok Insurance, Dhipaya Insurance, Muang Thai Insurance Co, Viriyah Insurance Co, South East Insurance (2000) Co Ltd and many more. It also offers a vehicle maintenance service, registration renewal and financial services.
Recently, the company began franchising through UPD Guarantee. Franchisees can choose from two packages: one for 60,000 baht, or one for 20,000 baht, which offer different products and services.
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