Insurance Journal Forums

I’m currently looking to buy an insurance agency, I don’t mind dealing with sales brokers.
I would rather deal the agencies principals or someone in the agencies who has the ability to discus the matters.

I do not have a preference where the agency is located. Please only serious inquires..


Thanks

Please go to www.FiestaFranchise.com. We have three mature agencies available in the Los Angeles areas and brand new one available all over the US.

I recommend that you use a broker who specializes in Insurance Agency Acquisitions, not any broker. This is a very specialized business, you also must know exactly what you are doing. For each good agency that comes up for sale, there are at least 20 buyers who are ready to line up, most of these buyers are already funded. Also it's very hard to purchase an quality preferred agency if you don't have an existing agency (for a number of reasons), unless you are looking to purchase an Allstate Agency or a non-standard auto agency. My site has a number of resources for to help you make the acquisition, including a number of brokers who specialize in transacting Insurance Agencies.

Thanks keep the idea's coming

I highly suggest you look for an independent insurance agency with a good history to purchase.

There are very few, if any, franchise retail insurance agencies other than potentially the captive carriers that may make any financial sense.

The other available franchise operations for sale are NOTHING you need. You can obtain EVERYTHING offered by such an operation without being locked into paying royalties for years for nothing.


Buyers need to keep their eyes WIDE open.

I am an insurance agency broker and I am NOT soliciting your business whatsoever, just saving you alot of heartache buying a franchise that offers nothing you can not obtain directly.

Good luck,


Hutch

I come across many who want to buy an agency without owning an existing independent agency, but as Hutch points out, there are not many available. Starting an Independent Agency is actually a much better alternative and is usually prerequisite to purchasing a quality indpendent agency.

I have used the Agency Equity web site to list and sell several agencies.

All the information you need is on that site to prepare properly to purchase, start or sell an insurance agency.

But, again, I would NOT purchase a franchise independent insurance agency. There are very few that make any financial sense.

Just my 2 cents.

Hutch

mhutch69 wrote:I have used the Agency Equity web site to list and sell several agencies.

All the information you need is on that site to prepare properly to purchase, start or sell an insurance agency.

But, again, I would NOT purchase a franchise independent insurance agency. There are very few that make any financial sense.

Just my 2 cents.

Hutch

More and more independent agencies are being affiliated, whether it be a Franchise or the more common non-Franchise cluster, alliance or network groups. I really think we need to judge each of these organizations on their own, I know most members of the non-Franchised groups seem to be very satified of these arraingments.

Thanks, if you happen to know of anyone looking to sell. Please refer them to me, I can e-mail you my contact info.

Thanks again

Mr. Jones

Anything new going on out there ?

Has anyone heard of anything new, since the start of the new year.

AgencyEquity: Could you give the reasons you believe starting an agency is a better option than buying one? I have an opportunity to buy one and since I was already planning to start one I thought it would be nice to go in with income already streaming.

Taylyn wrote:AgencyEquity: Could you give the reasons you believe starting an agency is a better option than buying one? I have an opportunity to buy one and since I was already planning to start one I thought it would be nice to go in with income already streaming.

Good question. If you don't have an existing agency, my recommendations is to always start an agency for several reasons. The only exceptions to this is if you work for that agency and you are buying them out or have extensive Executive experience running an agency.

Going back to the reason why it's better to start an agency, the biggest reason is that if you are investing a huge amount of money, you really need to know how the ins and out of running an Independent agency. There is a lot involved, anywhere from really knowing how an Agency Management System works to understand product knowledge and every in between. A question you might want to ask youself is do you really want to invest you own money for on the job training for something you don't know and may not even like?

One last reason that doesn't really apply to your case is that nearly all preferred Independent Agencies are sold to other Independent Agencies, so in most cases those who don't have an exisitng agency in place have a long shot of aquiring what is already a long shot even for an existing Independent Agency. Essentially there is no chance (unless it's a non-standard auto agency or an Allstate Agency) that a non-experienced start-up can acquire a quality Independent Agency.

I currently have an agency in southwest Mississippi and am looking to purchase another agency, preferably within 100 miles of me which includes in Louisiana. I haven't been able to find any, if anyone finds one let me know thanks

I've got an idea or two. First, contact your broker who handles your E&O agency policy...they're going to know first when an agency is ready to fold and either cancel or not renew their policy. Secondly, check with your marketing reps, as they too are going to hear through the grapevine about agencies that are ready to cash out.

I hope this helps.