The idea of running your own insurance business and being your own boss can be extremely attractive. While you can always choose to experience the advantages and hurdles of establishing a start-up from scratch, buying an insurance agency offers more benefits that may surprise you.
What Are the Benefits of Buying an Insurance Agency?
You’ll Have Income from Day One
Did you know that you’ll have to wait a few months before your new insurance agency can start generating profit? On the other hand, when you purchase an established insurance business, you can just take over and have a steady income from day one. Additionally, re-investing in an existing business and improving it is much easier than getting it up and running.
You’ll Take Advantage of Existing Assets and Customer Base
One of the best things about purchasing an existing insurance business is that you get to acquire instant customers and assets. Instead of starting from nothing, you can spend your time trying to come up with marketing strategies to increase your existing customer base. Furthermore, some of the perks of buying an insurance business include having employees in place and established credibility and connections with reliable suppliers.
You Can Focus On Growth
Buying an existing insurance business allows you to focus on growth and other areas that require the most attention. This can be time-consuming and exhausting with a start-up agency where you’ll have to pull out all the stops to get your business going.
You Can Reduce Your Risk
When it comes to the financial aspect, purchasing an existing insurance business can be safer for you. While a start-up is like a leap into the unknown, you have the advantage of looking into the existing agency’s previous financial records. Since the existing business has a proven financial history, banking institutions will likely give you financial support.
Buying an Insurance Agency? Reach Out to the Experts!
At Energia Consulting Partners LLC, we can help you find reputable agencies that are a good fit for your needs. Contact us today for inquiries!