Do you think you’ve found the right insurance book of business for sale? When it comes to buying an insurance agency, you have to make sure you’re making a wise investment. The key is to know the right questions to ask the sellers.
What Are The Must-Ask Questions When Purchasing An Insurance Agency?
What Sets This Insurance Business Apart From Other Providers?
Thanks to independent agencies and major insurance providers, the insurance industry is nothing short of saturated. Maintaining a professional-looking website, transparency about pricing, and involvement in various community events are some of the best ways to stand out. Consider how your prospective agency manages to set itself apart from its competitors.
How Much Does The Average Insurance Agency Make?
Several factors influence the amount an insurance agency can make. These include the number of clients, the types of insurance they sell, and their office location. Your chances of making a profit will be greater if your prospective agency has a well-diversified portfolio. You can get an idea of their cash flow by asking about their book of business during the due diligence process.
Why Is The Owner Selling This Insurance Business?
Retirement, illness, new opportunities, family obligations, and financial problems are some of the most common reasons why an owner would sell their insurance agency. However, if the existing owner is selling because of economic troubles and poor performance, you might have to pump the brakes. While you can turn its performance around, you’ll have to do a whole lot of digging into the independent insurance business.
Looking For The Right Insurance Book Of Business For Sale?
So, to make sure that you’re getting the best deal on the insurance agency, get in touch with Energia Consulting Partners LLC today. Our team is ready to assist you with all aspects of the buying process!