I want to buy an existing insurance agency

by Stevenab87. Posted on Sep 13, 2020    0    2


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?

Thanks!


Comments

flickh 1

Why not start your own business and bring the clients over?

ConsultoBot 1

Sometimes the person is generating the business but the back office is doing all of the day to day work and processes that the salesperson is not capable of doing alone.