Seller Financing Available

Asking Price:

$1,100,000

Gross Income:

$497,000

Cash Flow:

$280,000

FF&E:

$1,000.00 *

Inventory:

N/A

Real Estate:

N/A

Year Established:

2004

Employees:

N/A

Business Types:

Agents & Brokers
Finance, Banking, Loans, etc.

* included in the asking price

Business Description

SBA Prequalified, leverage a $165,000 down payment to purchase almost $300,000 in net income. Monthly payments would be approximately $10,263 according to letter. Final terms to be determined by lender and underwriters obviously.

This is a phenomenal book of commercial business in a specific industry where the Seller is a known player. Approximately 800 active policies with the total book size of approximately $1.8MM in gross premium. Top revenue carriers by premium on the books are: State Compensation Insurance Fund (Direct Appointment), Bliss & Glennon, BTIS, CK Specialty, Progressive (Direct Appointment) and 13 other carriers round out the rest of the revenue. Yearly breakdown from Q1 2011 all the way back to 2004 has it all!!! Gross premium, Broker Fees, renewal commissions, direct bill vs. financed, lines of coverage by carrier, it's all there. Lines of coverage categories that are broken down include CGL/XS/POL/E&O, Work Comp, Auto, Bond, Prop/IM/COC. Sellers would prefer to divest to established industry player with significant experience so their clients are well taken care of post-transition. 2011 revenues are tracking to beat 2010 which came in at $488k gross income. NDA is required for access to the data and to view the financials on file.

Detailed Information

Facilities:

Relocatable nationwide! Home office setting of husband and wife owner operator team.

Competition:

Commercial lines is a difficult market to penetrate. However, the clients are phenomenal and once you get them, they are exceptionally loyal.

Growth/Expansion:

The Seller's system can be replicated nationwide and across other industries if one were so inclined.

Financing:

As needed per SBA guidelines to close deal.

Support/Training:

As needed to properly hand off the book of business. 4 weeks, 25 hours per week minimum.

Reason Selling:

Relocation to Pittsburgh and other business interests.

Broker Information

Rick Carlson

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