On April 28, Randy Sadler and Chris Gallo of CIC Services hosted a webinar titled, “Start a Second Business to Create A Proven Additional Profit Center” that examines how a captive insurance program can help businesses increase profits by adding an additional stream of income.
For many profitable businesses, there is a simple, well-proven path to form a second, profitable business. One approach for a business owner to increase profit and further protect the business is the buy-up of all of the vertical businesses that support the core business. Think of starting or acquiring additional businesses as an approach to build and protect a wealth engine.
This is often described as vertical integration, and it is often effective because a supplier or service provider is already making a profit serving the parent company. Simply put, businesses can choose to OWN THEIR OWN INSURANCE COMPANY, known as a captive insurance company. In so many ways, a captive insurance company is the perfect second business (or third, or fourth…).
In this webinar, Randy Sadler and Chris Gallo of CIC Services will discuss a vertical integration approach with an extremely high success rate in generating additional profit. This webinar is designed for middle-market company owners, CEOs, CFOs, Risk Managers, and advisors to businesses, including P&C insurance agents, CPAs, and financial advisors.