You’re in the market for an insurance agency but aren’t quite sure how to get started. It can seem like a lot to handle, so what do you do? You’ll want to make sure the business model is the best possible fit, but there’s no need to stress. We have the tips to make buying an insurance agency as smooth and easy as possible.
Ask for Help
The first tip is probably the most important. The last thing you’d want to do is try to handle an acquisition all on your own. There are a lot of moving parts, so it’s best to ask for a little help. Having the assistance of an experienced consulting practice that specializes in the sale and purchase of insurance agencies will greatly benefit you.
Do Your Research
If you followed the first tip and have hired a consulting practice, the search for your agency will be a lot easier. When you are searching, take a detailed look at every aspect of each agency that catches your eye. One that might seem really appealing at first might have some potential issues below the surface. Here are some things to look out for:
- The business model
- The risk of the customers
- The competition
Take Your Time
If you really have your heart settled on an agency, look over it again to make sure it’s indeed the perfect fit for you. There’s no need to rush the process. Then when it’s time to agree on a deal, go over the paperwork thoroughly and have a second set of eyes sort through it too.
Need Help Buying an Insurance Agency?
At Energia Consulting Partners, we want you to find the insurance agency of your dreams and we’re here to help. We have an emphasis on the Allstate and Farmers Insurance Company distribution model, plus over 150 years of experience in the industry. Contact us today to get started!