It has finally happened. The interest rates have caused a slowdown for many buyers in the insurance agency market. Most of the buyers are using leverage to purchase these agencies. I am sure most buyers saw this coming and secured their borrowing for future...
As we move into 2023, Sukay & Associates understands the ebbs and flows of the insurance agency world. Typically, the insurance business usually takes a positive turn for agency owners at this time, with big renewals done and vacations scheduled out on the...
Question: Interest rates have increased, so what does that mean for insurance agencies looking to sell their business? Many buyers in the market to purchase insurance agencies borrow money to pay for the agencies they buy. A loan will cause the cost of the purchase to...
Question: “I have decided that I need to sell my insurance agency, so is it a financial or emotional decision?” Show me the money! If you think I am going to say it is not about money, you would be wrong. The decision to sell usually starts as a financial...
There are two important takeaways in this article. First, you can’t spend a multiple. Second, hire a reputable advisor who will ensure you understand your real value, not just the multiple. If you are considering selling your agency, you should stop here and call...
As part of our day-to-day, we spend a lot of time speaking with those responsible for purchasing independent insurance agencies as we look for the right fit for our clients. Many of the buyers that I speak to would rather contact agency leadership directly and avoid...
