Unless you know the industry, you would be wasting your time and money.
The group business is quite fickle. Small group clients come and go at the drop of a hat unless you are better than most agents. Larger groups are quite political and can last for years and then suddenly go poof.
If I were buying today, my best offer would be 1.5 gross annual revenues. I would want to know what lines of coverage were offered and a big factor in my decision would be how much I could enhance revenues by adding ancillary lines.
ABC has a good point about potential changes with Obamacare. Personally, I don't think it is that much of a threat but you never know. This is not the time to plunk down money for something that could be moot in a few years.
Even without govt intrusion, the overall economy isn't going to start turning around for 2 more years assuming no other cataclysmic changes. In the interim, more layoffs and more failing businesses. There will also be reductions in benefits.
Good chance even 1.5 is rich.
If my magic 8 ball was working, I could refine a number that would apply to me, but I have worked that market in the past and know exactly what it takes to succeed. No way I would venture in that direction as a rookie. A rookie will get eaten alive.
The group business is quite fickle. Small group clients come and go at the drop of a hat unless you are better than most agents. Larger groups are quite political and can last for years and then suddenly go poof.
If I were buying today, my best offer would be 1.5 gross annual revenues. I would want to know what lines of coverage were offered and a big factor in my decision would be how much I could enhance revenues by adding ancillary lines.
ABC has a good point about potential changes with Obamacare. Personally, I don't think it is that much of a threat but you never know. This is not the time to plunk down money for something that could be moot in a few years.
Even without govt intrusion, the overall economy isn't going to start turning around for 2 more years assuming no other cataclysmic changes. In the interim, more layoffs and more failing businesses. There will also be reductions in benefits.
Good chance even 1.5 is rich.
If my magic 8 ball was working, I could refine a number that would apply to me, but I have worked that market in the past and know exactly what it takes to succeed. No way I would venture in that direction as a rookie. A rookie will get eaten alive.
