Keystone Insurers Group Franchise Cost, Revenue & Review 2026
- Investment
- $27K – $99K
- Disclosed sales
- not disclosed
- SBA charge-off
- Under 10 loans (1)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Keystone Insurers Group is an independent insurance-agency franchise focused on commercial and business insurance. Franchisees run an agency writing and servicing commercial policies across carriers, earning commissions with franchisor support.
FranchiseVerdict summary · 2026
A Keystone Insurers Group franchise requires a total initial investment of $27K – $99K, including a $5K – $20K franchise fee. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored2 of 3 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $27K – $99K
- 9th pct Financial Ser…
- Avg gross sales
- N/A
- Royalty
- Tiered by sales volume
- Units
- 302
- 66th pct Financial Ser…
- SBA charge-off
- N/A
Quick verdict · Financial Services · color = vs category peers
Green = favorable by >10% vs Financial Services median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $27K – $99K including a $5K franchise fee.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict B (Above average), verdict score 64/100 (higher is better).
- GROWTHNegative: net -18 franchised outlets in the latest year (8 opened, 26 closed) (Item 20).
- FLAG17 units terminated last reporting year (5.6% of the system). Ask existing franchisees why.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Keystone Insurers Group LLC
- Parent company
- Keystone Agency Partners LLC
- FDD Item 1, page 7 of the 2025 FDD
- Predecessor
- Keystone Insurers Group, Inc.
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Patrick Kinney
- Incorporated in
- DE
- HQ
- 1215 Manor Drive, Suite 208, Mechanicsburg, PA 17055
- Auditor
- Baker Tilly US, LLP
- Audited financials
- Franchisor revenue
- $44.7M
- vs $33.3M prior year
Overview
About
- CEO
- Patrick Kinney
- Headquarters
- PA
- Founded
- 1983
- FDD year
- 2025
- States available
- 19
Can you afford it, and what does the money buy?
Entry cost runs 33% below the typical financial services franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $5K | $5K |
| Working capital (3–6 mo) | $0 | $0 |
| Equipment, build-out, other | $22K | $94K |
| Total initial investment | $27K | $99K |
Source: Keystone Insurers Group 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $27K – $99K
- Top 40% of category vs category
- Liquid capital req'd
- $0 – $0
- Top 40% of category vs category
- Franchise fee
- $5K – $20K
- Top 40% of category vs category
- Royalty
- Monthly Service Fee based on Gross Premium tiers: $881/mo…
- Ad fund
- No advertising fund; franchisor has no advertising counci…
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty (flat) | Monthly Service Fee tiered by annual gross written premium; ranges from $881/month (< $1M GWP) to $3,524/month ($49-50M GWP), adding $55.06 per additional $1M above $50M |
| Renewal fee | $0 |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Keystone Insurers Group makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Keystone Insurers Group unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, royalty rate, ad fund rate, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System roughly stable (+3.7% 3-year CAGR) with 302 units.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Financial Services medians
How Keystone Insurers Group Compares
Category median of published Financial Services brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 302
- Opened
- 8
- Last reporting year
- Closed
- 26
- Terminated
- 17
- Franchisor ended the franchise (per Item 20)
- Turnover rate
- 8.6%
- Company-owned
- 22
- Corporate units in the system
- % franchised
- 93%
- vs corporate-owned
- Net growth (3-yr)
- -4.4%
- Net unit change over 3 years
- 3-yr CAGR
- +3.7%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 17
- Reacquired
- 5
- Franchisor bought back
- Projected new
- 29
- Franchisor's next-year forecast
- Termination rate
- 2.6%
- Franchisor-initiated terminations
- Ceased ops
- 1.1%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 11 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Available to sell in · Item 12
- California
- Illinois
- Indiana
- Maryland
- New York
- Wisconsin
States where the franchisor is registered to sell new franchises (FDD registration filings).
Where the owners are · Item 20 owner list
18 current owners across 12 states.
- GA 2
- IA 2
- PA 2
- TN 2
- TX 2
- VA 2
- IN 1
- MI 1
- NJ 1
- OH 1
- US 1
- WI 1
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 1 7(a) loan on file; statistical reliability is limited below 10 loans.
- Total loans
- 1
- Loan volume
- $997K
- Median loan
- $997K
- 50th percentile
- Charge-off rate
- Under 10 loans (1)
- Insufficient SBA coverage: 1 loan, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (1)
- 5-yr charge-off
- Under 10 loans (1)
- Loans approved 2021+
- Active lenders
- 1
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Keystone Insurers faces unit decline, undisclosed profitability, active litigation, and unprotected territories—present material risks for franchisees despite moderate initial investment.
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
Two cases: (1) American Builders Insurance Co. v. Keystone Insurers Group - workers' comp policy dispute, summary judgment for defendants in Sept 2023, settled after appeal; (2) Boytos v. East Coast Risk Management - wrongful death claim against affiliate Risk Management, settled.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Baker Tilly US, LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Consolidated total revenues, net (Keystone Insurers Group, Inc. and Subsidiaries, audited): commission related $32,993,367, franchise related $6,113,288, consulting $5,588,249 for FY2023. Audited financials are of the franchisor's predecessor in interest, Keystone Insurers Group, Inc.; other_revenue reflects the 'Other income' line in Other Income, not part of total revenues net.
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: No
- Restricted to system-approved products: Yes
Score breakdown · what drove the 64 / 100 verdict
- 01MINORUnit count declining 6.0% YoY (280 units) suggests system contraction and potential saturation or performance issues
- 02MINORNo average revenue or net income disclosure (Item 19) prevents validation of profit potential and ROI timeline
- 03MINORTwo active lawsuits involving workers' compensation and fatality liability expose franchisees to reputational and legal risk in insurance sector
- 04MINORUnprotected territory creates direct competition risk—multiple franchisees could operate in same area
- 05MINORMonthly royalties of $881–$3,524 based on gross premium (not net) could create cash flow pressure during slow months
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 5 years |
|---|---|
| Renewal term | 5 years |
| Territory type | No territory protection |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Online sales rights | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Not allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 15 days |
| Curable defaultsℹ | 4 |
| Mandatory arbitration | No |
| Arbitration location | Pennsylvania |
| Jury trial waiver | Yes |
| Governing law | PA |
| Litigation count | 2 |
View Item 3 litigation summary
Two cases: (1) American Builders Insurance Co. v. Keystone Insurers Group - workers' comp policy dispute, summary judgment for defendants in Sept 2023, settled after appeal; (2) Boytos v. East Coast Risk Management - wrongful death claim against affiliate Risk Management, settled.
Items 10, 11
Training & Operations
- Training location
- On-site and franchisor location
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
18 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Keystone Insurers Group franchise?
The total investment to open a Keystone Insurers Group franchise ranges from $27K – $99K, with an initial franchise fee of $5K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Keystone Insurers Group franchise owners earn?
Keystone Insurers Group makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Keystone Insurers Group?
Keystone Insurers Group is franchised by Keystone Insurers Group LLC. Its parent company is Keystone Agency Partners LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Keystone Insurers Group FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Keystone Insurers Group FDD and qualifies whose outlets they describe.
What is Keystone Insurers Group's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Keystone Insurers Group (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Keystone Insurers Group franchise locations are there?
As of their most recent FDD filing, Keystone Insurers Group has 302 total units in the United States, including 280 franchised units and 22 company-owned units. 8 new units were opened in the latest reporting year.
Is Keystone Insurers Group a good franchise to buy?
FranchiseVerdict rates Keystone Insurers Group as a B-grade franchise with a verdict score of 64 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.