Are you considering selling your insurance agency to family?
Are you considering selling your insurance agency to family? Its a great family legacy to pass on a family business. While there is great pride and upside it is important both parties go into the business arrange with an open mind and heart. Insurance agencies are meant to enhance the family dynamic but with out the right expectations they can tear a family to pieces.
There are many second, third and fourth generation insurance agencies. In fact many of them have leadership teams comprised of all family. Families often have similar values and work ethic, however they also know how to push each other’s buttons. In addition, its common that families know our strengths well and weaknesses even better. As you sell to family you need to identify roles, metrics and a very clear vision and plan for success. After all a lot is riding on this business.
Family run agencies that fail to plan for a successful sale of the agency often run into roadblocks and challenges that could be easily overcome with the right plan and expectations. Selling your insurance agency to family should be planned, coached and mapped out several years in advance of the transition.
Check out the APP Resources on Best Practices of Leaving Your Insurance Agency To Your Family:
- Check out our blog on Best Practices of Leaving Your Insurance Agency To Your Family: https://bit.ly/perpetuatetofamily
- Get our FREE Sample Family Contract (avoid those family arguments): https://bit.ly/424Qr5W
- Get our Agency School @ 10% off with code: BACKTOSCHOOL https://bit.ly/3NGJ7dg
- Book A Meeting: https://bit.ly/3I8H0v8
- Are you looking for insurance training to grow your insurance agency? https://www.agencyperformancepartners.com/work-with-us/
