All living things go through different stages of their life cycle, and so do all families and all businesses. The Paun Agency is a family business in Slatina that has been involved in insurance representation for 28 years, as clients have recognized a higher quality service. Since the shift of generations will soon take place in the life cycle of family and business, there is a need to explore growth opportunities of this small insurance agency. Growth analysis was performed by analyzing external and internal factors using various management models and tools. The PESTLE analysis analyzed the external macro environment and utilized Porter's 5 competitive forces of the insurance industry in Croatia. Then the growth model Flower Pot and Growth Frame model by Alan Gibb (MOF and RECoIL analysis) has been used to analyze the quality of current performance and potential growth. The results has been summarized by SWOT analysis, and an Ansoff matrix has been used to generate a possible growth strategis. The results have showed that all the necessary preconditions for the growth of the agency by opening a new offices in Osijek existed, but there is a need to hire three more new employees.