Selling your crop insurance agency means more than settling on a fair purchase price. You worked hard to grow your business and want to find a buyer who shares your values and will carry on what you started.
Here are some questions to ensure a buyer is the right match for you, your business and your customers:
- What is driving the buyer’s interest in the purchase of your business?
- Does the buyer have experience with other acquisitions? If so, what is their track record of success?
- Are they willing to employ you or any of your current employees as part of the acquisition?
- Do they have a plan in place for transitioning customers and ensuring a smooth change in ownership?
- What do third parties have to say about the reputation of the buyer and their ability to retain customers and provide quality service?
- Does the buyer have the capacity to service their customers and yours?
- Does the buyer have the balance sheet strength and creditworthiness to structure payments that meet your needs? Can they make a lump sum payment? Do they have the long-term stability to make agreed installment payments?
- Do they specialize in crop insurance or provide other types of coverage?
- Does the buyer have the tools, resources, and expertise they have come to expect by working with you?
- Do they share similar business values that align with your own?
Selling your crop insurance business may be the culmination of years of hard work and effort, but with the right buyer and business valuation tools, the sale of your business may be one of the most rewarding financial decisions you ever make.
