There's going to come a time where you will consider selling your agency. However, most agencies don't have a perpetuation plan.
Some of the toughest situations occur when an agency owner has poor health and is unable to sell on his or her own terms. The children are interested in the business, but don't have the money. Or the kids have no interest in insurance and the owner has to sell in order to support him or herself in retirement.
When an agency owner has to sell, they're usually not prepared. This gives buyers leverage to negotiate, and worst of all gives you less of a payout than what you deserve.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
