My wife has been working at a small insurance agency over the last 5 years. She is one of 8 employees and personally brings in a significant amount of the agencies business. The owner has built the agency over the last 25 years but has mostly been fairly removed from the day-to-day operations while my wife has worked there. My wife and I feel like this could be a great opportunity to buy and grow the business. The owner is interested in discussing so we have a meeting scheduled for next week.
Has anyone here purchased an existing small business before? How did the initial meeting go? How much detail was discussed? Anything else I should be prepared for?
Has anyone purchase/owned an insurance agency before? I've seen a couple of ways to value an insurance agency, which method is best?