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With all that’s happened in our country over the past year, running an insurance brokerage has become more difficult than ever. Increased competition, direct writers all over the TV and Internet, soft market, housing, and the list goes on and on. How can you get back to your 04, 05, 06 sales numbers? How about good old fashioned Salesmanship?
We receive multiple calls and emails weekly from business owners asking how to hire a business broker. Another question we hear a lot of is; what are the costs associated with hiring a business broker? Can I hire a business broker if I’m buying a business? What are the other advantages of hiring a business broker? This post will answer
When buying or selling a business in California, you should have a team of advisers assist you. You need a team of 3 professionals consisting of a Business Broker, CPA and Attorney. Each one will play a vital role and in spite of the fees or commissions paid to your team, you’ll come out ahead. The knowledge of selling businesses
Any research you’ve done on Buying Businesses will teach you that a Business ultimately sells for what someone is willing to pay for it. An asking price for a business is basically an opinion since COMPS for similarly sold businesses don’t exist. You can show 10 Income and Expense Statements to 10 different Business Brokers/Bankers/Appraisers and get 10 different valuations.
We’ve taken numerous calls in recent weeks from buyers that have identified an Insurance Agency for sale and needed help evaluating the agency and preparing offers. The hardest part of buying a business is locating a viable candidate so when you do, you can’t let it slip through your fingers. There are many benefits to having a 3rd party involved
As we’ve mentioned many times in the past, some weeks we receive 20-30 calls from individuals looking to purchase Insurance Agencies in California. Unfortunately, many of these buyers don’t do business in California. In order for them to purchase an agency, they’ll need to obtain licenses, appointments, E&O Coverage, business licenses, loans; the list goes on and on.
Los Angeles, CA. – April 22, 2008 – Ganis Consulting, a California based Insurance Consultancy Firm, has launched its new website www.web-102.net/ganico The site was developed to be a reference tool for insurance agency buyers and sellers. Ganis Consulting founder Stuart Ganis said “When we sold our insurance agency, the intermediaries available were limited. Most business brokers don’t understand how
Over the past several months lenders have been tightening their underwriting standards in both personal and business loans. We’ve seen a major insurance lender place a moratorium on all new financing and requirements from lenders are more demanding than ever. Many insurance agency loans are done through “insurance banks”. There are two ways to borrow from an “insurance bank” for
There are numerous ways to find capital when investing in an insurance agency. Whether you need money to expand current operations, consolidate personal debt or acquire insurance agencies there are several options.
After you purchase an insurance agency, the next 90 days are crucial to the long term success and profitability of your newest investment. It’s time to evaluate and learn about your new employees and learn how the agency you purchased operates. Before you successfully integrate a new agency into yours, create a team consisting of new and existing employees to