Too many agency acquisitions fail because one or both parties don't do enough–or the right kind of–due diligence. Before taking the dangerous plunge to acquire another insurance agency–or be acquired–get ready for some deep digging to find out everything you can about your potential partner.
If you don't, you could end up with financial headaches, strained relationships with carriers, personality issues and other problems that can quickly short-circuit your goals. And you'll wish the deal was never made.
Sometimes both parties' excitement over making a deal that could bring in much-needed cash and propel the agency to unprecedented growth clouds their judgment.
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