Selling a Business Advice

Selling an Insurance Claims and Services Business

A good business is about more than dollars and sense. To make your insurance claims and services business what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.

The economy isn't the only thing that is uncertain these days. So are insurance claims and services business buyers, many of whom are waiting to pull the trigger on their next acquisition.

Many business owners don't know that insurance claims and services businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.

Benefits of Third-Party Assistance

There are a range of professionals available to guide you through the sale of an insurance claims and services business. Although it's wise to recruit a business broker, brokerage isn't your only concern. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.

Understanding Market Timing

Timing is everything when it comes to selling an insurance claims and services business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on insurance claims and services businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.

Workforce Concerns

As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful insurance claims and services business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the insurance claims and services business on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.

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