FOR SALE - Will Writing and Estate Planning. Unique & Lucrative
Recession-resilient sector - Low Overheads - Turnkey
Since establishing myself in the industry in 2019, I have successfully developed and refined my operating systems and processes. Prior to this, I didn’t have any specific Will Writing / Estate Planning knowledge, so I would comfortably say that previous industry experience is not necessary for the new owner as I will ensure that as part of the sale handover, full training and support for all operational aspects will be provided to help and assist with the transition.
“I’ll help you protect your assets” is my simple and highly effective marketing message. This is particularly relevant during the current challenging economic climate, and my unique proposition becomes even more compelling as more prospects become sensitive to risk and recognise the benefits of becoming clients.
I have various ways of engaging with prospects and converting them into clients, each of which has been implemented successfully and as detailed below:
1. Website: My hands-off approach whereby minimal communication with customers is needed.
2. and/or: Via telephone and/or online video call meetings.
3. and/or: Face to face meetings in your client’s own homes.
I have unique effective processes that I have designed to support impressive prospect to client conversion ratios and revenue generation potential from each client. My systems and processes will be passed on to the buyer along with transferring my industry experience to provide you with practical knowledge and guidance to assist you (& anyone working for you) in engaging with prospects and converting them into clients. By choice, I personally prefer meeting clients, however, if you would prefer to take the hands-off (online) approach, my lead generation systems, online data capture and client onboarding facility are also highly effective.
My specialist processes & procedures make client onboarding a relatively simple process and furthermore, you may also choose to make use of a number of strategic professional industry and affiliate relationships who will also be able to assist you in your business operations as/when/if you desire.
Revenue/Fee Income:
- My impressive prospect to client conversion ratios should also be achievable by the buyer as you become more experienced. Even if the buyer is new to the industry, I would be inclined to set myself a personal target of a 50% prospect to client conversion initially. That would result in an effective use of your time to generate meaningful revenue by onboarding clients and servicing their instructions.
- My ‘basic Estate Planning Package’ fee is currently £1’800 but you could of course change that to suit you. I also operate an instalment option so clients can pay a deposit and then the balance over 3 or 4 equal monthly payments which further enhances the prospect to client conversion ratio.
- You might prefer to utilise my automated ‘hands-off’ online facility (my rate for a Basic online Will is £190 which can then also be up-sold to include Protection Trusts etc.)
- However you choose to engage with new clients as and when they are on-boarded, you will also have the opportunity (if you chose to do so) to capitalise on additional significant available fee income by offering other products and services which all have a synergy to the core estate planning operations. (Which are provided by affiliate partner relationships, for example; Executorship, Advance Funeral Planning, Equity Release, etc.)
- Nb. The buyer’s commercial achievements following the acquisition will obviously be dependent on implementation.
Will writing is not a regulated industry but you should of course conduct operations in accordance with professional boundaries. There are no requirements to have any industry relevant qualifications although the more knowledgeable the buyer becomes after handover and initial training, the more opportunities you should be able to identify how you can help your clients and further develop revenue streams. I can also introduce you to various associations that you will be able to join as an industry professional.
Whilst I have operated on a part-time ‘lifestyle’ basis, I designed my systems and processes to also support expansion so if the buyer should wish to do so they could expand and build a company which could be potentially significant in size. (Had I wanted to do so, I could have successfully operated on a full-time basis and replicated myself across the country.)
If, like me, you enjoy helping people, this could be a particularly rewarding business opportunity for you.
This is also an ideal acquisition opportunity which could be bolted on to an established Solicitor or IFA wanting to capitalise in the lucrative Estate Planning industry.
Whatever your intention, (subject to your own implementation) the buyer is positioned to pursue a respectable income, attractive margins and additional commercial opportunities.
Please do feel free to ask me any questions etc. - contact me by using the form below.
