Expert brokerage services helping insurance agency owners across the United States achieve a confidential, high-value exit.
Many agency owners eventually decide to sell their insurance agency or book of business. The reasons may include retirement, health concerns, burnout, divorce, or a desire to move on to new opportunities. (Click here to see Reasons People Sell chart) Selling an insurance agency is a complex business transaction that requires expertise, confidentiality, and careful planning.
That’s where MKL Agency-Broker comes in: providing specialized brokerage services for insurance agency owners in all 50 states. We help you find the right buyer, market your agency discreetly, and cash out at top value while you stay focused on running your business until closing.
Question #1: How do I find a buyer for my insurance agency?
Some Agency owners may want to sell an insurance agency to someone they know who has the same type of Agency. That may be an acceptable idea as the Agency owner might have watched this other agency for quite some time and have a rough idea of its level of integrity.
However, there are many other potential buyers out in the world that may pay more and may be in a better position to pay the purchase price and still take care of your clients the way you would like them to be taken care of… but how do your find these other potential buyers?
Potential buyers could be someone from your area or outside your area who would like to expand their business. They may be willing to pay extra for the privilege or may structure the purchase more to the benefit of the Seller where the Seller receives the purchase price at the close of the sale rather than a long payout or an earn-out
One of the first matters to take care of is to make it known to potential buyers through our marketing efforts that the agency is for sale and you are trying to sell an insurance agency, but to not allow this information to become known by competitors, employees or clients.
Question #2: How can an insurance agency owner confidentially market their book of business while keeping clients and agents comfortable, without letting them know the agency is for sale until a buyer is found?
The best way to handle this situation is to be at arms length with all prospects by hiring a specialist in brokering insurance agency sales, someone who only does business transactions and is experienced with this process who can keep this public from knowing your agency is in play… someone like MKL Acquisitions. We require Confidentiality Agreements be filled out and signed by all potential buyers to make sure that prospective buyers have agreed in writing not disclose the fact that the Agency is for sale and not to disclose any financial details to anyone other than the prospective buyers advisors .MKL Acquisitions will market the Agency in a way that no one knows you are trying to sell an insurance agency… not your employees, not your clients and not your competitors who might use this to their advantage.
Question #3: “Do you have an exit plan?”
No matter whom you are, what age you are, or what your agency’s situation is, you need to have an exit plan. Few agency owners who want to sell an insurance agency have an exit plan in place as they prefer to go along month by month and react to whatever their carriers, their insured, or their competition are doing.
Agency owners need an exit plan because working to sell an insurance agency takes time. Many owners think that when the time comes and they make the decision to sell their insurance agency or sell the insurance book of business for a specific line of business, they will simply find a buyer and then the lawyers will draw up the papers and then the money flow in. The reality is… it’s just not that simple!
Agency owners typically think they can start and finish the process of selling their agency or their book of business in a month or two but this is not a realistic approach. Of course there are always exceptions to the rule, but business sales often take more time than expected and the seller needs someone to help them buffer what they want to do with actually getting it done…. while keeping the entire transaction as confidential as possible until the buyer is locked in and the deal is solid.
Working with a specialist in insurance agency sales like MKL Acquisitions will solve this problem for the agency owner and will give the agency owner some peace of mind knowing they don’t have to be actively involved with every “lookie lou” who wants to kick the tires to see if they can low ball or steal what is being sold… MKL Acquisitions helps maximize the sale price while insulating the Seller from the entire process allowing the Seller to stay focused on what they do best… sell insurance… until the deal closes and they get their money… and MKL Acquisitions helps make it happen.
If you’re ready to take the next step toward selling your insurance agency or book of business, we’re here to guide you every step of the way. Contact us, confidentially, today at (855) 343-5544 or complete our confidential consultation form and let us show you how we can help you secure the best outcome—while keeping your clients, agents and business operations fully protected and intact until closing.