Need Advise on what to Ask and Search

Discussion in 'Insurance Agency Acquisition and Valuation Forum' started by ihorton92416, Dec 28, 2016.

  1. ihorton92416
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    ihorton92416 New Member

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    I have a question/ As of 07/2010 I have ran an agency / office for my boss any thing need to be paid I would send check request with invoice and he would pay for everything / he is appointed with the insurance company and I am license in La I am a go getter and built the book of business he has now - when I started there were about 150.client and now I am at around 550, he bought the book of business from a retired agent and the business was losing client because of the policy not being paid. It took me 6 months to have the client trust me and when I would go on vacation which was on 3 times in the 6 years the clients would call me to say they need to pay their ins. I explain that he own the business and need to pay through him are call the insurance companies, I have has some let their policy lapse until I get back, so I only take time off during the holidays. My boss offer me to buy the agency 12/22/16 and if I decide not to buy the agency he is going to sell to someone else. He has offer me to pay an amount per month for 30 month with no interest. I am trying to find out what kind of steps should I be taking and if this is a good idea. any advise to what I should do and what I should look for and ask
     
  2. Sconnieagent
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    Sconnieagent New Member

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    From personal experience, talk to an accountant that has experience with insurance agency mergers & acquisitions. If you don't know any, one of your company reps can help find one.
     

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