I was asked this question so many times I am losing numbers. How much is my insurance business or the business value of the book? To answer this question, I rely on my experience as a mediator and bring to light some things to avoid when selling your insurance agency, business or book.
Insurance agents are the first deal I ever was, except for the buyer looking for a small independent broker. I found that makes $ 232,000 a year in commissions and the asking price $ 585,000, or 2.52 times per year fee. I knew from my searches, it was difficult to find an independent insurance agency, sale, so I'm inspired to offer customers fast. The seller really enjoyed my buyer agreed to the $ 550,000, or 2.3 times the Commission's proposal. Because most business books sell for 2 times the commissions in the deal was a slightly higher price than most, but I still think, that my buyer got a fair deal, according to his needs and sellers wish to make some money.
Steps to sell your business or agency's book:
1st Get the evaluation of the business in a professional business broker book
2nd Establish the asking price to sell its insurance agency
3rd Sign a contract with a qualified business broker listings
4th Store your transaction, a number of proposals
5th Accept them and begin the negotiation process
6th Negotiate, decide and provide the buyer with the inspection of documents
7th Complete negotiations and close the deal
Although I have outlined steps to sell its book of business, I do not recommend you go it alone, it can be, for example, a court case yourself represented, even though you may know all the facts better than anyone else, you may be emotionally attached to your business and that it is dangerous for you to go it alone. Call me we are free to evaluate his book, but also help you decide that you maximize the benefits when you sell the structure.
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