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2,000 PIF's 54% Home 43% Auto Insurance Agency
Location California,United States
Asking Price Range $250K - $500K
Gross Revenues $450000
Net Profit / Cash Flow $96000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 1980
Number of Employees 4 - 5
Inventory 15000
Relocatable No
Number of Employees 4 - 5
Real Estate Leased
Training Long term transition, seller wouldn't mind staying on board as a producer for new management. He has a lot of gas left in the tank.
Reason for Sale $150k down, $249k financed at 4% for 60 months!
Description Split of the revenue is 54% Homeowners, 43% Auto, 3% Commercial Agency. 2012 Renewal commissions are $230,000.00 and Fee revenue was $220,000.00. Total premium in force is over $1,800,000+. Three producers primarily service the book of business, so this is not tied directly to the owner selling the business. The book is basically divided evenly between all the staff, and all agents are responsible for maintaining and servicing their own accounts. Seller's location is ideal for a growing agency or an aggressive growth-oriented buyer who wants to add additional agents and staff as there is substantial office space on premise. Seller ideally is looking to remain associated with the Buyer's team for a long-term transition, and would like to keep his options open in regards to potentially being a producer for the Buyer. Substantial Seller carry at favorable terms and interest rate shows to Buyers that this Seller believes this book of business will continue to churn out cash for years to come. Payments break out to $150,00 in cash down at closing, and 60 monthly payments of $4,585.71 for 60 months at 4%. Only qualified Buyers will be eligible for substantial Seller carry-back, and subject to Seller approval. NDA is required for preliminary due diligence package on file.
Facilities: Has a brick and mortar office that has plenty of room for expansion for hungry owner-operators seeking a stable platform acquisition into insurance or existing owners who are growing too large for their existing operations.
Growth/Expansion: Does not focus on commercial at all, certainly there are more accounts that can be secured from existing relationships in this book of business.
Financing: $150k Down, $249k financed at 4% for 60 months!
Support/Training: Long term transition, Seller wouldn't mind staying on board as a producer for new management. He has a lot of gas left in the tank.
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