I have a friend is an independent insurance agent. She offered to teach me about the business and let me have the commissions I earn. She would then retire in 3 years and leave me with her clients. The business was her grandfathers, then her father's and now she has taken over for the last 30 years. She says she has done very well in the business. I am very interested. Is this a good business deal?
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We haven't talked details in depth yet but I don't think there is a liability on my side from the donation. I do have to work for her for free, earn my own clients, and then little by little she will start introducing me to her clients as the person who is going to take over their insurance policies and annuities. Also, she has three huge stacks of "warm" prospects that are sitting on her desk for me to start calling.