Selling your independent insurance agency: Navigating the sale
If the time has come for you to explore selling your independent Insurance Agency or Book of Business, we at MKL can help you avoid the pitfalls that come with the complicated path of keeping the process confidential, maximizing the value of what you have built and finding the right buyer who will pay you cash at the close of the sale.
1. Keep it confidential when selling your independent insurance agency
Confidentiality protects your ongoing business from the uncertainty that results when employees, producers, clients, your carriers and your competition know you are thinking of selling your insurance agency. When selling your insurance agency, they may all get nervous and do things that can cost you money or affect the sale price you are trying to achieve. It is critical that the sale of an ongoing Insurance Agency or Book of Business be kept confidential until the deal is binding.
2. Maximize the value of the Agency or Book of Business you are selling
Knowing how and where to market your business, knowing what to say and what not to say and keeping it confidential, can increase your chances of maximizing the sale price of your Insurance Agency or Book of Business. This is what we at MKL are known for, this is what we do when selling your insurance agency.
3. Take the long view
Selling your insurance agency book of business by yourself has several pitfalls besides alerting the people in your circle of work that you are selling. Don’t be shortsighted and think you can save money by doing this yourself. This can negatively affect your business by tying up your time with prospects and perhaps giving away proprietary information that should remain confidential until a deal is in place.
4. Find an expert Agency-Broker to help – a true specialist
The best choice to make when thinking of selling your Insurance Agency or Book is to get help from someone who knows and understands the insurance business and has experience in successfully selling these businesses… someone who only sells Insurance Agencies and Books of Business. In other words… a true specialist.
We can help sell your independent insurance agency no matter
what city or state your business is based.
Please contact us to see if we can assist you or answer
any questions relating to selling your Insurance
Agency/Book of Business.
All contact is treated with strict Confidentiality.
Why Choose the MKL Team?
MKL specializes in selling independent Insurance Agencies and Books of Business throughout the USA and we do our best to provide our clients with a “seamless experience.” In addition to understanding the need for strict confidentiality, we help our clients maximize the value of their Agency/Book of Business and anticipate and address important issues that arise during the sales process when selling your insurance agency.
Mike Maiman has 30 years experience in brokering business sales, tallying more than $40MM in commercial transactions. He is an expert broker as well as a business developer – at one time he managed a series of companies that grossed $50MM in annual sales. A leader in sales, mergers, and acquisitions of business opportunities, Mr. Maiman has a California Real Estate Broker license and is also is licensed for Fire & Casualty and Life Insurance.
Mr. Maiman has a Bachelor of Arts degree from California State University of Los Angeles and was on the Board of Directors of Jewish Big Brothers of Los Angeles for five years. He excels in solving the problems that most Independent Agents and Brokers face on a daily basis and his expertise is available to help you.