When To Create Your Exit Plan

As odd as this may sound, you should begin your exit plan when you start your agency.  The first part of the exit planning process involves growing a profitable business that would be attractive to potential buyers or new owners.  Growing a profitable agency from day one means you are always in a position to exit your business. Likewise, developing business habits that make your business due diligence proof and protect your valuable business relationships contribute to having a healthy agency.

Having said that, if the exit plan has not been started a three-to-five year period is an ideal time frame to start the exit planning process to sell or transfer to a new owner.