by danodon1 » Wed Feb 02, 2011 01:16 am
I have been selling commercial insurance for 10 years and have been very successful. There's an opportunity in my home town to purchase a well established Allstate book. The owner is well respected and the book has a high retention. He is at retirement age and is willing to work with me through the initial start up. I have met with the Regional rep and passed all the tests.
Should I run or take a shot? What factors should I consider besides the obvious?
Should I run or take a shot? What factors should I consider besides the obvious?
Posted: Wed Feb 02, 2011 06:59 am Post Subject:
Well its always better to take a calculated risk, so if you are sure that business is well settled with nice prospects and would be able to generate immense value for you in the coming years then go ahead with it.
Just make sure that it does not increase your liabilities so much that you are not able to manage if any thing goes wrong with your new acquisition.
Posted: Wed Feb 02, 2011 09:10 am Post Subject:
If there is a solid track record of renewals, you should be fine. You'll have the advantage of both name recognition and a business people have grown to trust. Two of the three necessary elements are in place. Your ten years of experience should fulfill the third ... knowledge.
Posted: Thu Feb 03, 2011 07:18 am Post Subject:
You don't always get an opportunity to purchase a book with high retention. Again, it's being associated with a brand name like Allstate is a bonus for you. Your experience will show you through the challenges that you come across.
Posted: Thu Feb 03, 2011 09:07 pm Post Subject:
If it is a good book of business I would do it
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