what if the book is appx 125,000 in business. currently wholesaled not written direct . How would you value the business.
Is there a standard Multiple in The P&C industry I can use. WHere would I find this information to get the mutiple.
My husband ( owner of our agancy for 50 years ) has Alzheimers. He and I are 75 years old. Two employees one of which is licensed. Productivity close to $1,000,000 50% in one Carrier.
Productivity and Commissions are down due to little to no participation from my husband.
We have a offer $200,000. Buyer can pay cash but taxes on that will give us a loss be steep. Don’ want to get into fiancing at our age. BUT we can do a Retention. $90,000
this year; $90000 next year; $20000 third year on retention basis. Your thoughts?
Looking into purchasing an existing agency, total commission is at 314,000.00. Net income after taxes in around 145,692.00. How would I calculate and what to offer.
Hi,
Have an opportunity to purchase an agency. Commission totals at 314,000.00 yearly. Net income of 235,745.00 and net income of 145,692 after taxes. Question is what is a good educated offer for the agency, and how would I negotiate for down payment and pay out? Any info is highly appreciated.
I am selling my BOB and am going to the buying agents office to finalize agreement and receive payment today. 2 days ago he requested a list of cancellations since our first conversation at the beginning of August(5 customers have left, mostly renters policies) and to see my upcoming folios amounts. Question is that I feel like this is not necessary and that he will try use any excuse to low ball our previous agreed upon sell price. Is this common practice? Is it legal? He has received false information from a source that customers are calling to leave my agency when they have been calling to make updates to policies or ask for documents. I have been in insurance for 1.5 years and feel like I’m being railroaded.
Is it common practice for a buyer to ask the seller to provide a list of cancellations and to see my folios for cancellations? I’m selling my b.o.b. and I have had an agreement with the buyer since August. Is this legal? I’m meeting with him today to finalize agreement and receive payment but feel like I will be blindsided with some counter offer. I have had 5 clients leave bc of rate and he is being told from the district that numerous customers have left. Looking for help!!! Feeling helpless.
what if the book is appx 125,000 in business. currently wholesaled not written direct . How would you value the business.
Is there a standard Multiple in The P&C industry I can use. WHere would I find this information to get the mutiple.
Thanks
My husband ( owner of our agancy for 50 years ) has Alzheimers. He and I are 75 years old. Two employees one of which is licensed. Productivity close to $1,000,000 50% in one Carrier.
Productivity and Commissions are down due to little to no participation from my husband.
We have a offer $200,000. Buyer can pay cash but taxes on that will give us a loss be steep. Don’ want to get into fiancing at our age. BUT we can do a Retention. $90,000
this year; $90000 next year; $20000 third year on retention basis. Your thoughts?
Terry
Where are you based out of? I may be interested.
Tyler
Do you still have this agency? Where are you located? I would possibly be interested in your agency.
Looking into purchasing an existing agency, total commission is at 314,000.00. Net income after taxes in around 145,692.00. How would I calculate and what to offer.
Thank you
Hi,
Have an opportunity to purchase an agency. Commission totals at 314,000.00 yearly. Net income of 235,745.00 and net income of 145,692 after taxes. Question is what is a good educated offer for the agency, and how would I negotiate for down payment and pay out? Any info is highly appreciated.
Thank you,
Hi Martin,
Did you get an answer to this question? I’m in somewhat of the same situation with the same question.
I am selling my BOB and am going to the buying agents office to finalize agreement and receive payment today. 2 days ago he requested a list of cancellations since our first conversation at the beginning of August(5 customers have left, mostly renters policies) and to see my upcoming folios amounts. Question is that I feel like this is not necessary and that he will try use any excuse to low ball our previous agreed upon sell price. Is this common practice? Is it legal? He has received false information from a source that customers are calling to leave my agency when they have been calling to make updates to policies or ask for documents. I have been in insurance for 1.5 years and feel like I’m being railroaded.
Is it common practice for a buyer to ask the seller to provide a list of cancellations and to see my folios for cancellations? I’m selling my b.o.b. and I have had an agreement with the buyer since August. Is this legal? I’m meeting with him today to finalize agreement and receive payment but feel like I will be blindsided with some counter offer. I have had 5 clients leave bc of rate and he is being told from the district that numerous customers have left. Looking for help!!! Feeling helpless.