Starting Agency with a Partner?

[bluemarlin08]

My last partnership cost a long term friendship, never again.

 

[Wprice]

Buy a book of business. It'll get you a great starting point. Then you can build off of it. Read, Power Position Your Agency by Tony Korsgaden. It comes with plenty of scripts for cross selling and such.

 

[Newby]

Why 51% and not equal? Control?

Yes if you own 51% you will always have control. You can overrule every decision if you need to. And it still holds true if you have 3-partners together. You need 51% regardless. If they own 25% each and you own 50% and they both vote one way and you vote another...you are stuck.

 

[Guest]

Buy a book of business. It'll get you a great starting point. Then you can build off of it. Read, Power Position Your Agency by Tony Korsgaden. It comes with plenty of scripts for cross selling and such.

What are the pricing factors for a book of business? Is there a multiplier?

How would one find a book of biz to buy? Are there business brokers who specialize in selling insurance practices, like there are for medical practices?

Al

 

[Wprice]

There are some websites that offer books of business.. I really don't know. I think I want to go back to Life insurance. I'm just a captive agent.

 

[arnguy]

Wprice, that dude's first name is Troy, not Tony. His book is listed on Amazon.com.

 

[Wprice]

Oops.. I knew it wasn't Tony. It's good stuff, it talks a lot about internal and external marketing and hiring a Customer Contact Rep. Which works a lot like a dentist appointment secretary/telemarketer. It talks a lot about replacing yourself with other people. Example, Issues with auto go to the Auto CSR, Homeowners renters condo etc go to the Fire Expert, life goes to life expert, ect. It's a great map, imho.