In a small city in North Dakota, a seasoned agency owner with more than 25 years in the business is navigating a unique challenge: how to plan for the future without stepping away from what he’s built. With a loyal book of employee benefits clients and a lean operation consisting of just himself and one account manager, his business is stable but the future is uncertain.
At age 56, he’s still passionate about the work, but also keeping an eye on legacy, scale, and what role his son currently just starting college might play down the road.
His question: Is a partnership the right move now, or is it something to revisit later?
This North Dakota agency isn’t weighed down by inefficiencies or bloated overhead. The owner runs a streamlined operation with just two employees, strong carrier access, and solid client retention. He’s proud of what he’s built and sees himself staying active in the industry for another 10 years or more.
But with one eye on the future, he's considering scenarios: Will his son eventually join the agency? Will growth stall? Will his lean team be enough to keep up with evolving client needs?
At this stage, he’s not looking to sell but he’s open to understanding what a modern agency partnership might offer.
Equity Expansion had previously spoken with the owner back in 2024. At the time, he wasn’t ready to make any moves, but a recent pipeline review changed that. A strategic partner in Equity Expansion’s network identified this agency as a strong cultural and geographic fit and requested an introduction.
That prompted a follow-up discussion and a new chance to explore what partnership could mean, not just someday, but potentially sooner than expected.
Despite initial skepticism, the agency owner was open to hearing the structure and what he heard intrigued him. The model presented by Equity Expansion focused on growth through partnership, not acquisition and retirement. Here's how it broke down:
This model allows agency owners to “take chips off the table” today while rolling forward equity in a larger entity benefiting from future value creation without giving up control or legacy.
Equity Expansion emphasized that the real wealth isn’t just in the upfront check it’s in the stock. The partner agency behind this opportunity had grown from $5 million to $90 million in revenue in under four years by partnering with independent agencies and supporting their growth.
As Equity Expansion, explained:
“The upfront cash can make you rich. But the equity done right that’s what makes you wealthy.”
One of the owner's hesitations was around autonomy. He’d been his own boss for decades and didn’t want to suddenly report to someone or lose control. Equity Expansion made it clear: this is a partnership, not a takeover.
“You’re the entrepreneur you are today and the entrepreneur you’ll be tomorrow. We’re not here to manage you, we’re here to support you.”
That support includes:
Still, the owner felt that much of this support wasn’t a pressing need. He already had accounting help and wasn’t feeling overwhelmed operationally. His question was more philosophical: Does this really change how I serve clients or grow long-term?
Not Ready But Not Saying Never
After a thoughtful and transparent conversation. He appreciated the opportunity, found the model sound, and even said the equity model “makes sense.” But without immediate operational pain and still exploring whether his son might join the business he decided to hit pause. Equity Expansion agreed to reconnect in a year, keeping the door open for future partnership when the timing feels right.
What This Story Tells Other Owners
This agency owner’s story is a reminder that partnership isn’t about pressure it’s about preparation. Many owners aren’t looking to exit today but want to understand their options for the future. Equity Expansion’s model offers:
For some, the time is now. For others, the right time is still around the corner.
Ready to Learn What a Partnership Could Look Like for You?
Whether you’re five months or five years away from making a move, Equity Expansion is here to educate not pressure. Start with a conversation. See if the model makes sense for your goals. You might not be ready now but the smartest owners are exploring early.