twoplustwoisnot4
New Member
I'm looking to sell my agency possibly around the end of this fiscal year... It's completely 100% turnkey in all aspects... You do not need an office (work from home if you wanted to), need a VOIP phone, fast internet, and a laptop with two connected monitors. I'm probably among the top five best-marketed agencies in my city, have a very easy/fast growing well-marketed niche in apartment buildings, rental properties, tough to place commercial buildings/rental homes. Basically, all I sell is property, with auto, umbrella, EQ, following usually... Stopped selling non-standard auto completely last year and do not really deal with contractors GL either... On top of this being the niche, I do a solid amount of EPLI, BOP's, Umbrella's, and workers comp.
Right now, the book consists of 95% preferred/5% non-standard personal and commercial, loss runs at about 46% currently, and have all of the carriers in my city that make you the most competitive for any and all products I advertise with. However, a lot of the carrier's I write with are with an MGA, but, I get 100% of all commissions and have direct access to them (subcodes) or full appointments, so it's not like a weird smart choice beginner here, it's a great relationship/higher commissions/profit sharing/bonus kind of weird. Total PIF is @ $500,000, I'm forecasting to gross approximately $75K this year in total, maybe more...
Most importantly here is that I literally have the best adword's set up possible, best site functionality, and lead capture program running right now... I've put in countless hours research, testing, redoing business listings/website/webpage's/landing pages and marketing the $#*t out of it to a point of taking candy from a baby now. This is something that most agent's honestly don't know or simply do not do, and if they do it, have no clue how to go about it. On top of this, I'm number one on yelp/google... Everything is branded well, great agency name, turnkey quoting and policy download/quoting... On top of it, I have great relationships with CPA/book-keeping/lawyer... I spent three years putting my heart into this agency and growing it to be exactly what I pictured.
The sad part is, I've become so emotionally attached to this agency, spent a very large amount of money building it, researching, fine-tuning all aspects... I've gone into debt quite a bit building everything and I'm at the point to where the agency is now making enough to really push on and get to that 1 million mark, and likely will in another year or two... but, I have a family member of mine, who, together we built another business simultaneously which is already making us so much more money and as much as I want to continue, I'm not sure I can keep spending time growing this agency any longer, and feel, I need to sell it to someone who is willing to continue forward with what I've done.
I haven't even started trying to figure out what to do yet, but, I need to sell this agency near the end of the year to segway to my other business full-time. Does anyone think they would be interested, or does anyone have any suggestions who've seen this happen before?
I don't want to sell the book, honestly, I think if someone bought everything as is, they will crush it... I just need to pay off the debt I've accumulated and pass this on. I could even take a few months showing someone how everything works. Let me know any thoughts on this, please.
Right now, the book consists of 95% preferred/5% non-standard personal and commercial, loss runs at about 46% currently, and have all of the carriers in my city that make you the most competitive for any and all products I advertise with. However, a lot of the carrier's I write with are with an MGA, but, I get 100% of all commissions and have direct access to them (subcodes) or full appointments, so it's not like a weird smart choice beginner here, it's a great relationship/higher commissions/profit sharing/bonus kind of weird. Total PIF is @ $500,000, I'm forecasting to gross approximately $75K this year in total, maybe more...
Most importantly here is that I literally have the best adword's set up possible, best site functionality, and lead capture program running right now... I've put in countless hours research, testing, redoing business listings/website/webpage's/landing pages and marketing the $#*t out of it to a point of taking candy from a baby now. This is something that most agent's honestly don't know or simply do not do, and if they do it, have no clue how to go about it. On top of this, I'm number one on yelp/google... Everything is branded well, great agency name, turnkey quoting and policy download/quoting... On top of it, I have great relationships with CPA/book-keeping/lawyer... I spent three years putting my heart into this agency and growing it to be exactly what I pictured.
The sad part is, I've become so emotionally attached to this agency, spent a very large amount of money building it, researching, fine-tuning all aspects... I've gone into debt quite a bit building everything and I'm at the point to where the agency is now making enough to really push on and get to that 1 million mark, and likely will in another year or two... but, I have a family member of mine, who, together we built another business simultaneously which is already making us so much more money and as much as I want to continue, I'm not sure I can keep spending time growing this agency any longer, and feel, I need to sell it to someone who is willing to continue forward with what I've done.
I haven't even started trying to figure out what to do yet, but, I need to sell this agency near the end of the year to segway to my other business full-time. Does anyone think they would be interested, or does anyone have any suggestions who've seen this happen before?
I don't want to sell the book, honestly, I think if someone bought everything as is, they will crush it... I just need to pay off the debt I've accumulated and pass this on. I could even take a few months showing someone how everything works. Let me know any thoughts on this, please.
