Seller Financing Available

Asking Price:

$1,500,000

Gross Income:

$550,000

Cash Flow:

$250,000

FF&E:

$10,000.00 *

Inventory:

N/A

Real Estate:

N/A

Year Established:

1980

Employees:

2

Business Types:

Agents & Brokers
Finance, Banking, Loans, etc.

* included in the asking price

Business Description

I know right? 19% commission on new business and
renewals. So awesome.

This contract will be a condition of any closing. Seller is top
producer for this carrier in the Western United States, not
surprisingly. Other appointments include Mercury (recent, less
than $700k premium presently), CSE, Hillstar, Unitrin,
Commerce West, Bristol West, McGraw, Progressive, GMAC,
and Infinity. About $200,000 of total premium is what one
would refer to as preferred clientele. The rest would qualify
as non-standard. Averages $100,000 in Broker fees per year,
about $450,000 in renewal commissions. A lean operation,
Seller is heavily involved from dawn to dusk, regularly present
during every minute of the 9-8 M-F and 9-6 Saturday that the
Company is open. Has two non-licensed CSR, that helps the
Seller run the business. Approximately 5,000 client files, with
a retention rate of 85%, well above industry average. Could
be a little bit more cross-sold, as the book consists of 90%
Auto, 5% Commercial, 5% Home, no Health, no Life. Does
bonding, and writes Mexican Insurance at 35% commissions.
NDA is required for partial due diligence package and to
schedule a personal meeting with the Seller once he
approves your company or your inquiry if you're a private
party.

Detailed Information

Facilities:

Exclusive lease in plaza, no competitors can sign within the same center. Has been in same location for over 30 years.

Competition:

Competition is strong for insurance, however, the goodwill associated with a business that has been at the same spot for 30 years is undeniable. Insurance agencies have come and gone but this one has stood the test of time.

Growth/Expansion:

Has no real internet presence, one could purchase leads and expand the operation.

Financing:

As needed per SBA guidelines to close deal.

Support/Training:

As needed, approximately 4 weeks, 20 hours per week.

Reason Selling:

Retirement.

Broker Information

Rick Carlson

• View all of my current business-for-sale listings
• View all of my SOLD business-for-sale listings
• View my BizBuySell Profile