Contingency planning is essential for any business, particularly for agencies with a single owner. A well-structured contingent buy/sell agreement serves as a safeguard, ensuring that business operations continue smoothly even after the sudden death or disability of an owner. The insights from INS Capital Group highlight the critical need for these agreements and the risks associated with their absence.
Read MoreIn the world of business partnerships, maintaining a shared vision and strategy is essential for long-term success. Yet, as businesses grow and evolve, differences in perspectives between partners can arise, particularly when it comes to future direction, risk tolerance, and financial priorities.
Read MoreThe Process of Selling an Agency has Changed
Read MoreAn Insider’s Perspective (Buyer’s Strategy)
Read MoreAre you ready to acquire?
I’ve spoken with hundreds of insurance agents over the years about purchasing an agency. The size and backgrounds of these hopeful acquirers have ranged the gamut. Some of them have been large firms who have completed several purchases, others were well-established agencies who were looking to complete their first deal and the last group are industry veterans looking to break into the world of ownership by purchasing an established business. Buying another business always seem like the next thing to do, but make sure have you done the necessary preparation and homework to put yourself in the best position possible to succeed. No matter the size or experience level, there are several things you should be asking yourself before getting ready to take swing at buying an agency.
Read More
