At Springtree Group, we spend a lot of time sharing our insights about preparing your agency for sale and the selling process. After completing this process, it will be time for you to focus on the transition period. We believe a transaction cannot be called a true success until the agency has demonstrated at least stability, if not growth, under new ownership. To that end, let’s discuss how to lock down a smooth transition after a sale.
Transfer of the Staff and Processes
In your preparations for sale, you have no doubt clearly outlined each employee’s role as well as the processes the entire agency will be following. Upon completion of the deal, your task will be to ensure that the new owner(s) understand the roles, their responsibilities, and why each position is essential to the business.
In addition to clearly documenting this information in writing, we recommend at least one in-person meeting with the new owner(s) to review it and field any questions they have. If possible, we recommend letting the new owner(s) know that you will remain available to answer their questions throughout the coming year.
Communicating with Your Staff
While it is not advisable to openly declare your plans to sell to your staff in the year leading up
to the sale, it is essential to communicate clearly, promptly, and with kindness to the staff
throughout the transition. Your team has been key to your success thus far, so be open about your opinion that the next owner(s) will be equally reliant upon the staff to maintain the same
standards.
Continued, positive, and transparent communication with your team is so important that we will work with you to refine your communication strategy in advance. Our goal will be to transition your agency to the new owner(s) with the morale and loyalty of the staff intact. This is the only way to maintain seamless productivity throughout this delicate time.
The Takeaway
Springtree Group views the sale of your insurance agency as the key to your successful future
endeavors. You may wish to pivot toward a different type of business venture, join a larger firm as a high-level manager or executive, or retire and enjoy the rewards of your many years of hard work.
Whatever your plans may be, we are pleased to offer you our unparalleled assistance. Our goal is to ensure that you have earned as much capital as possible upon closing on the sale of your agency—and we know this goal is one we share with you.
Our in-house financial department, extensive network within the private insurance sector, and active list of qualified buyers are just a few of the reasons you will not find a better firm to
represent your interests. If you are preparing to sell your insurance agency in 2024, 2025, or
2026, it is already time to reach out to us.
Don’t let time get away from you. Your future success is only one point of contact away.
