Non compete when buying book

[wornout]

Commission or premium?

commissions

 

[aheff]

I am curious- what is your book? Medicare? You want to stay in the business, but want to sell because you can't find the staff. Why do you need staff? I am guessing you are getting pennies on the dollar for the buyout- perhaps $300,000-$550,000. So, again, why is staff needed? Or to put it another way, you don't need staff, (you and your wife should be able to run the biz quite nicely) keep and grow your own book. Or is there another reason you are selling?

 

[wornout]

I am curious- what is your book? Medicare? You want to stay in the business, but want to sell because you can't find the staff. Why do you need staff? I am guessing you are getting pennies on the dollar for the buyout- perhaps $300,000-$550,000. So, again, why is staff needed? Or to put it another way, you don't need staff, (you and your wife should be able to run the biz quite nicely) keep and grow your own book. Or is there another reason you are selling?

Its P&C - it's just me - I had a csr, but lost her due to illness last year. No luck in finding a suitable replacement even for what I think is top $$ - $50k+ a year. Lots of non insurance experience applicants but past experience has told me they won't get licensed or stay. Maybe you are right, I should just not sell. I wonder if I could bring my book to another small agency and make a better situation for all!

 

[Markthebroker]

No luck in finding a suitable replacement

We have a hell of a time finding staff. Finding people with industry experience is difficult, but we have been lucky hiring and training people, and retaining them. We give them benefits up the wazoo, and that seems to do it. Sometimes we can find people with experience, but it's pretty hit-and-miss.

I wonder if I could bring my book to another small agency

Yes, and work out some sort of a deal where you can use their support staff, and infrastructure in general. I think you're going to find that is what's going to make the most sense for you.

 

[somarco]

Finding people with industry experience is difficult, but we have been lucky hiring and training people, and retaining them.

No one wants to work. DC screwed that up with this pandemic job-killing idiocy of locking everyone and everything down.

Can't go to work if you want to. Govt pays extra for UC plus almost free health insurance and stimulus checks.

Folks make more staying home sitting on their butt than they do working. Laborers, restaurant staff . . . mostly lower pay unskilled to semi-skilled don't want or need to work.

McDonalds is paying $50 if you just SHOW UP for the interview.

We just had our basement waterproofed. Hard "grunt" work. Not a lot of brain power, just dig here. Entry level pays $800 per week. The owner wants to hire at least 2 more people. Had 4 interviews set up and had talked to all of them on the phone before inviting them in for the hiring interview.

Four no-shows. Didn't even call to cancel.

He talked to 2 of them and they both said the job didn't pay enough to match their free money.

 

[wornout]

The decision to sell came after my last round of "interviews". First woman said to me, a woman, "I hate working for women!". The second person said they didn't want to work for a family business - wth? And those were the only 2 that showed up! I am finished with taking the best of the worst.