Hi from N.C Also

[kimari01]

Hi my name is Kim, I'm new to the forum. I've been an agent for 10 years. I got out for about 3 years but I'm back! I'm looking for advice on purchasing an existing agency. What do I need to look for?

 

[xrac]

Hi my name is Kim, I'm new to the forum. I've been an agent for 10 years. I got out for about 3 years but I'm back! I'm looking for advice on purchasing an existing agency. What do I need to look for?

Welcome! Why did you get out and what did you do during that time?

 

[Mark]

Welcome to the forum.

 

[kimari01]

I got out to b/c I wanted to make more money and have bene's. That job was political so you know how that goes. Now, I want to get back to what I know. But this time as an owner. The only way to really make money.

Thanks, I enjoy reading all the posts relating to issues I have or may have.

 

[Thatguy]

purchasing an existing agency would be costly, why not just start your own and hire?

 

[Todd King]

Well I think you've come to the right place to start asking questions. You'll find all kinds of info on here. And there are no stupid questions on the forum. Ok, well, maybe a few. Well, actually I think there's only a few on here that haven't asked one. Either way, it's a great place to be. I've learned a tremendous amount on here, And I think I might have been able to help somebody once, maybe twice, ....no, it was just the once! lol
Welcome.

 

[kimari01]

Well I think I have a heck of a deal. I use to work for the agent and she really wants to move on. She's not asking for anything upfront. We haven't worked out all the details yet. I've never been an owner b4 so I'm unsure of what to look for to cover me.

 

[insuranceexec]

Are you talking about using split-dollar or a buy-sell agreement?

 

[tryan326]

Welcome Kim!

 

[kimari01]

That's exactly why I'm on this forum... I don't even know what split-dollar or a buy sell agreement is. What does that consist of? What should I look for?