Part 5: Can I Provide You With a “Rough Idea” or “Ballpark Estimate” of the Fair Market Value of Your Insurance Agency Over the Telephone?
No.? This is not the business that I am in and it is impossible to tell you the value of your insurance agency over the telephone; and that includes a “rough idea” or “ballpark estimate.” In fact, I would rather that you kick my dog Nugget, whom I love very much, than ask me if I can appraise your insurance agency over the phone; because this question is so very foolish and nonsensical that it is like nails on a chalkboard to real and true business valuation professionals. So let me get this straight Mr. or Mrs. Insurance Agency Owner, you want me while I am on the phone with you and with nothing other than air in front of my eyes, and zero financial data or reports, to tell you what the fair market value of your agency is after you tell me one single number. Please...you are killing me.?
If anyone tells you that they can do this, you should run away from them as fast as you can as if you are being chased by a troop of angry silverback gorillas whom think that you robbed their banana supply; as this would more than likely be a grossly inaccurate and incorrect estimate of value and professionally irresponsible for anyone to do this, as it would lead you far astray and give you a false idea as to the true and properly determined fair market value of your insurance agency.? As Nancy Reagan used to say, "Just say no!", to this harebrained and futile endeavor.? A proper business valuation requires a significant amount of time and the detailed review and analysis of a significant amount of financial, operational, valuation, market, industry, economic, risk/return, cost of capital, and descriptive data and information on your agency; and the specific market it serves and in which it operates.
Sean H. Hayes, CVA - [email protected]
Mr. Hayes is a nationally recognized expert in the valuation of insurance agencies, insurance brokerages and other insurance industry entities. He is exclusively focused on providing business valuation, M&A and capital services to privately-held insurance brokers and agencies and other insurance industry entities for clients located throughout the United States, offshore and internationally. Mr. Hayes has over 29 years of business valuation, M&A, capital raising and expert witness litigation support experience and completes hundreds of insurance agency valuations and transactions every year, encompassing all types of valuation, capital raising, and M&A work; including buy-side and sell-side transactions, SBA 7(a) lending, estate/gift/capital gains taxes, litigation support expert witness testimony, financial reporting, wealth planning, strategic management, exit planning and corporate planning.
Mr. Hayes holds a Bachelor of Science degree with majors in accounting and finance and a minor in economics from Jacksonville University of Jacksonville, Florida; an AACSB accredited business school founded in 1934. Mr. Hayes is a Certified Valuation Analyst (CVA) and certified member of the National Association of Certified Valuators and Analysts (NACVA). Worldwide, the CVA certification is held by only around 6,500 valuation professionals and the CVA certification has been accredited by the National Commission of Certifying Agencies (NCCA), the accreditation body of the Institute for Credentialing Excellence (ICE). Mr. Hayes is a member of the American Society of Appraisers (ASA), the Institute of Business Appraisers (IBA), and a Sustaining Member of the National Association of Government Guaranteed Lenders (NAGGL). He is also a recognized Insurance Agency Valuation Expert designated by Business Brokerage Press, Inc. and a regular contributor to the Business Reference Guide: The Essential Guide to Pricing Businesses and Franchises. Mr. Hayes is headquartered in Chicago, Illinois, where he serves insurance industry clients and their advisors throughout the entire United States and internationally.
I am available to assist insurance industry clients, located throughout the United States, with the following matters: marital dissolution with goodwill allocation; business succession and exit planning; estate/gift/capital gains tax purposes; court ordered and other divestitures; capital acquisition services; shareholder buy-in/buyout; mergers and acquisitions transaction advisory; theft of book of business; noncompete violations; shareholder disputes; United States SBA 7(a) loan business valuations; buy-sell agreements; and ESOPs
I have provided expert witness litigation support services, including courtroom testimony, in various states; including Michigan, Florida, Indiana, Illinois, California, Colorado, Hawaii, Maryland, Texas, Wisconsin, Ohio, Minnesota, and Iowa.
Sean H. Hayes, CVA
Insurance Agency Valuation Expert
M&A Transaction Advisor
225 N. Columbus Dr., Suite 5906
Chicago, IL 60601
904.655.5565
? 2024, Sean H. Hayes, CVA. All Rights Reserved.
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