Sell a Business for the Best Price
Selling a Personal Insurance Business
You've heard the naysayers - now isn't the time to sell a personal insurance business. But what they don't know is that many entrepreneurs see personal insurance businesses as a smart business investment.
With planning and patience, most personal insurance businesses can be sold for a fair price in the current business-for-sale marketplace.
Many personal insurance business sellers fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your personal insurance business until the prospect has been qualified as a serious buyer.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a personal insurance business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your personal insurance business, you can avoid painful tax and legal complications both before and after closing.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some personal insurance business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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