Estrella Insurance: From Cuban Immigrant’s American Dream to National Franchise Success
In the 1970s, Cuban immigrant Nicolas Estrella Sr. saw an opportunity to serve the Hispanic community in Miami by selling auto insurance. His son, Nicolas Estrella Jr., now leads Estrella Insurance, a company that has evolved from a local business to a national franchise success story.
When Estrella Jr. took over as president in 2006, he saw potential in franchising after realizing the profitability of existing franchise locations. Despite the challenges of transitioning from a corporate model to a franchise model, Estrella Insurance now boasts 206 franchises across the nation and offers a variety of insurance policies beyond auto insurance.
The company’s success is not only attributed to its business model but also to its focus on diverse metropolitan areas. While initially targeting Hispanic communities, Estrella Insurance has adapted to changing demographics and now serves a wide range of customers.
Interestingly, many of the franchise owners are Hispanic women, a deliberate choice by the company to connect with the community. These women have found success and financial independence through the franchise model, reflecting the growth and empowerment of immigrant communities in the U.S.
Reflecting on the company’s journey, Estrella Jr. acknowledges the impact of the evolving immigrant community on their business. As immigrants have become business owners in various industries, Estrella Insurance has grown alongside them, showcasing the power of entrepreneurship and the American dream.