As an insurance agency owner, you aspire to someday reap the fruits of your labors from building your book of business. That may mean living off the earnings from the sale of your agency when you retire, or using the…
If you are planning to sell your insurance agency in a few years, you could make a greater profit by moving up your timeline. That’s because we’re in a perfect storm for insurance agency owners, with several factors working in their favor for a transfer event.
When it comes time to sell your insurance agency, you want to get top dollar for the business. Whether a prospective buyer agrees with you about what the agency is worth is a different matter. The current practice for agency valuations is more complicated than just calculating a multiple for retained commissions. Discover what prospective buyers are looking for, and how to drive significant value for the business in anticipation of a sale.
If you dream of running your own insurance agency, you can follow various paths to make the vision a reality. You could start from scratch and build your client base, purchase an established agency, or purchase a book of business. The latter option often provides an easy point of entry for brokers who are just starting out, as well as a cost-effective option for those who want to expand an existing agency quickly.
A good business exit strategy can take years to come together, because businesses are the least liquid investment you can make. Much of the value of your insurance agency resides in intangible elements, like your relationships with vendors and clients, your ability to manage employees, your attention to detail, and your vision for the future. If you are considering selling your insurance agency, you need a great exit strategy to ensure that you get the full value of your business.
Demand from individuals wanting to buy an insurance agency has been strong for the past several years, which is great news for sellers. The flip side is that the seller’s market can make it hard for buyers, who are facing more competition and need to be savvy to get a good value. If you are considering an insurance agency acquisition, here are a few factors that can help you distinguish a great deal from a bad egg.
When it comes time to sell your business, having a professional handle the sale makes a profound difference. A business broker doesn’t just take the extra work of a sale off your hands; they know how to value, price and…
Why is it that some insurance agencies sell within a matter of weeks, while others linger on the market for months, or even years? Although vetting qualified buyers and negotiating financing arrangements can take time, the real or perceived value…
After devoting the latter half of your career to building a solid book of business, the time has finally come to sell your insurance agency. You envision the years of serving clients and building relationships with your team paying off…
Deciding to sell your insurance business is a big step and should not be taken in haste. You want to ensure that the entire process runs smoothly, and more importantly, you want to guarantee that you will find a suitable…