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40 Year Old Progressive Book For Sale

Chesterfield, MI (Macomb County)

40 Year Old Progressive Book For Sale
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Asking Price: N/A

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: N/A

Established: 1974

40 Year Old Progressive Book For Sale

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Business Description

40 Year Old Progressive Book For Sale

This is a 45 year old agency in Chesterfield Twp.
I have represented Progressive Insurance for the past 40 years.
My book is old, very stable and quite profitable.

12 month moving averages as of month end June 2019:

Written Premium = $948,479 (4% growth over past year)
2016-2018 Auto Loss Ratio = 13.23%
The Mix of Business:
Personal Auto Policies = 315 @ $827,336 (87.2%) (76% Retention)
Commercial Auto Policies = ? @ $32,995 (3.5%)
Motorcycle Policies = 127 @ $56,132 (5.9%)
Boat & RV Policies = 87 @ $29,484 (3.1%)
*Written Total = 529 @ $948,479

* The Total "Written Premium" (except Boat, Snowmobile & Trailers)
include the MCCA & State Recoup Assess which pay no commissions.
Based on "Net Earned" premium my average commission is 9.79%.

Annual Commission = $77,486 (monthly average = $6,457)
The book is at "Tier 2" commission levels currently.
It is actually qualified for "Tier 3" as of June end (awaiting confirmation)
with new auto commissions enhanced as of Aug 3rd.

Current Sale Price Is: $200,000 Cash, No Terms.
Based on $6457/mo you would recoup your investment in 31 months.

Detailed Information

Location:
Chesterfield, MI
Real Estate:
Owned
Building SF:
N/A
Facilities:
My furnished office building is also for sale (separate offer). For details contact Susan Blanchard @ Anton, Sowerby & Asso: Phone: 586-469-8888, Cell 586-918-1956, Fax 586-469-3049
Growth & Expansion:
Chesterfield is a dynamic growth area by any measure imaginable. Median home price @ $295000 with new subdivisions and commercial developments sprouting up all around.
Reason for Selling:
Health/Retirement
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Business Listed By:
John Kozak

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