There is no right time to sell. In every case, the circumstances, personal motives and economical statues vary. Therefore, the right time to sell depends highly on when you are ready. Change will have an affect on your personal and business life as the decision to sell is a personal decision as much as it is a business decision. It will have an overall affect on your life, not just your career. To make the decision about when it is the right time, you would need to be prepared and ready for this next step first. It is a lot of work and takes a commitment of time and effort so you need to be totally committed to making a change.
Your Reasons..
There are good reasons and bad reasons to sell. Some of the good reasons might be to expand the current business by gaining access to other markets or being able to access expertise. Some of the bad reasons would be losing accounts, losing markets, partnership disputes, or need the money to retire. On a personal level, it might be a good reason to have more time for yourself, to do the things you have always wanted to do but did not have the time for. You could go through your bucket-list and start investing more time in leisure and less at work. Difficulties may arise adjusting from those busy schedules to a more relaxed routine, which as much as it sounds relaxing, it will not necessarily be an easy transition.
The Value of Your Agency
As a firm, we believe an accurate valuation is part of our responsibility and the foundation of a great working relationship – even if that is further in the future. Because of this we, unlike most firms, offer free insurance agency valuations for those who qualify. Click below to apply!
