Yes, you actually do!
Firstly: A valuation is not exclusively a tool to value your business prior to a sale. It’s a business planning tool. Of the agencies we’ve done a valuation for, the highest performing agencies use a valuation as an annual tool for year over year growth.
Secondly: You don’t know when an offer might present itself that you would want to be prepared for. If an offer comes knocking on your door, you want to make sure you’re prepared, and an annual valuation will keep you prepared.
Thirdly: You can always benefit from knowing this information. Knowing the value of your agency is a best practice business strategy.
Finally: As insurance agents, we are constantly telling our clients to prepare for unexpected circumstances. Getting a valuation is doing exactly this for your agency!