While getting a valuation before you sell is critically important, waiting until the last minute may be too late to implement the changes and overcome weaknesses to significantly improve value.
For all the effort poured into growing a book of business and servicing accounts, surprisingly little time goes toward ensuring commission from those policies hits the general ledger.
Rodriguez’ agency offers franchising opportunities to aspiring business owners with the entrepreneurial spirit. He also serves on the board of the Delaware Association of Insurance Agents & Brokers.
By making philanthropy a bona fide part of their strategy, agencies can take their community and business impact to the next level.
Lucky is the insurance agent whose commercial client’s state of residence never changes and all their employees live and work in that same state. But, of course, life is never that simple.
A time will come when agency owners must decide whether they will sell externally to a third-party buyer or sell internally to family or key stakeholders.
Financial literacy and fundamental business acumen are two of the most glaringly absent competencies among agency principals.
Any business where the threat of physical harm could occur on or near the premises has an assault and battery exposure. It is not limited to liquor stores, restaurants and bars.
A client has been very belligerent to agency staff throughout the years yet still stays with the agency. If the agency gives a 60-day notice, can it non-renew this client?
Private equity (PE) buyers are responsible for 77% of the publicly reported acquisitions in the independent agency system. However, there are some prevalent misperceptions about PE buyers.
