Selling a foreign insurance business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
(article continues below)
At Gaebler, we're seeing foreign insurance business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Timing the Market
Now may be the best time to sell a foreign insurance business. With interest rates at all-time lows, it's easy to see why foreign insurance businesses are an appealing investment opportunity for savvy investors. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. At Gaebler, we recognize the value of timing the sale of your foreign insurance business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
How to Choose a Business Broker
First-rate business brokers deliver prospects and profits to their clients. In the foreign insurance business industry, experience is a must-have characteristic for qualified brokerage. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Preparing Your Employees
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. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. 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.
We think you may find these additional resources to be of interest.
If you plan on opening a foreign insurance business, these helpul resources may be just what you've been looking for:
If you consider foreign insurance businesses to be sales prospects, there's more applicable information for you elsewhere on our site. Try these useful resources instead:
If you are looking for exit plan advice for a different kind of business, try our directory of exit planning guides below.