.jpg?t=1507053087848&width=320&name=StockSnap_RJC17QCHMZ%20(1).jpg)
One of our most important roles is to prepare our clients for the emotional impact of selling their agency after a lifetime of building the business. The process itself and the change that occurs at the end leaves a lasting impression on most selling owners. Our job is to make sure, when you decide to sell, that you’re ready to undertake the process.
Over the years, we have described the sale process hundreds, if not thousands, of ways; depending on the client. Recently, we were offered another way of looking at the process by one of our clients. The client described the process as ‘an adventure’ and that may be the most appropriate metaphor for the emotional ups and downs of selling your agency.
A Journey Into The Unknown
The process certainly has all the hallmarks of a great adventure. It is an exciting journey into the unkown. After the sale, you will either retire or assume a new role with the Buyer. You will totally alter your own reality, in that you will no longer be an agency owner. That change will affect the lives of your family, your friends and your colleagues as well as your own.
Like the best adventures, selling your agency offers a valuable reward at the end. That reward could be a better life for you and your family, a role with greater opportunity and greater responsibility or an exciting new market. The great thing about the sale of your agency is that you choose which goals you want at the end of the adventure.
A Journey Fraught With Danger
There are, of course, dangers and pitfalls along the way. There won’t be any rolling bolders or poisoned arrows, but there are mistakes that could hinder your attempts to reach your goal. It is vital that you make the right decisions, for the right reasons when it comes to choosing a buyer and defining your goals. Like the adventurer who grabs for the treasure without considering potention booby traps; sellers who focus solely on the financial terms will likely to wind up flat as a pancake.
The most important thing to remember about your agency sale adventure is that it will be difficult to complete. Sellling your agency is exhausting, it takes a lot of hard work and it is likely to surprise you at least once. This isn’t something you can take up on a whim, you need to be ready and you need to plan.
As long as you are ready, selling your agency can be more than just a business transaction. It could be one of the greatest adventures of your life. To quote our client, “to the adventure, let it continue”.
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!
