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An agency owner reached out several weeks ago and asked me to meet with him and the owner of an agency in his town that he was looking to purchase. They had been talking for several years. They had a handshake agreement that someday he will buy the agency when the time is right.
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Any banker who’s lived through a few business cycles will tell you it’s nearly impossible to predict interest rate movements. According to data from the Federal Reserve Bank of St. Louis, the prime rate has changed 348 times since 1955. Over that 67-year period, the prime rate has dipped as low as 3.25% and risen as high as 21.5%
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In part one of this article, we discussed how analyzing your alignment with an agency is a great way to begin considering an agency acquisition’s potential. Now we’ll look at additional factors, including how well the culture of your agency fits with the potential acquisition and some indicators of future success.
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