OWNERSHIP PERPETUATION PLANNING
PERPETUATION PLANNING SERVICES
A popular saying is that “The Only two things that are certain in life are Death and Taxes”. Independent insurance agency owners know that they have a third certainty-Developing and Executing a SUCCESSFUL PERPETUATION PLAN FOR THEIR AGENCY”.
Most agency owners get inundated with phone calls from people who want to buy their agency. However, many agency owners want to perpetuate their agency to current employee(perhaps a family members) not sell the agency. You, as an agency owner, have a very busy schedule. It’s difficult to find the time to complete the many task associated with a successful PERPETUATION PLAN. You know it needs to be done-But Who Has The Time?
PATRICK & ASSOCIATES INC. understands the four critical elements for a successful perpetuation plan-
I. A HEALTHY ORGANIZATION with adequate free cash flow(EBITDA-Earnings before Interest, Taxes, Depreciation & Amortization).
II. REASONABLE SELLERS
III. ABLE BUYERS
IV. AN EFFECTIVE TRANSFER MECHANISM.
We offer the most comprehensive, reasonably priced perpetuation planning services in the industry. Our services include:
· Converting your PERPETUATION VISION into a WRITTEN PLAN. A plan with specific GOALS, TASK TO ADDRESS, ACTION-STEPS, TIMETABLES, etc.
· Preparing a BASIC APPRAISAL/VALUATION OF YOUR AGENCY’S free cash flow available to finance the perpetuation plan(including financing the plan internally or thru a third party financing company).
· Assisting you in ensuring that your agency has the FREE CASH FLOW/EBITDA needed to fund the PERPETUATION PLAN and allow you to FUND YOUR RETIREMENT(including working with lenders who specialize in perpetuation plan financing).
· Assisting you in evaluating your current team to determine their qualifications for being ABLE BUYERS.
· If your perpetuation plan involves hiring KEY EMPLOYEES (Future agency owners, producers, etc.) we will identify, pre-qualify, introduce you to and otherwise provide EXECUTIVE SEARCH services for you at a reasonable price.
· Work with you to structure the most EFFECTIVE TRANSFER MECHANISM.
The initial consultation IS FREE! LET PATRICK & ASSOCIATES, INC. be your PERPETUATION PLAN ADVISER.