402 Policies in Force, Portable 60% Comm. Insurance Book of Business

Los Angeles, CA (Los Angeles County)

Seller Financing Available
402 Policies in Force, Portable 60% Comm. Insurance Book of Business
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Asking Price: $395,000

Cash Flow: $41,979

Gross Revenue: $194,291

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: 1981

402 Policies in Force, Portable 60% Comm. Insurance Book of Business

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Business Description

402 Policies in Force, Portable 60% Comm. Insurance Book of Business

Confidential Information Memorandum (CIM) available upon receipt of our short online NDA - visit here: http://www.pronovapartners.com/engagement/402-policies-in-force-portable-60-comm-insurance-book-of-business/

A total of 402 insurance policies created gross revenues of nearly $195,000 (in 2017) at this 37-year-old agency. 60% of accounts are commercial, 30% are personal, and 10% are life/health related. High percentage of reoccurring clients speak primarily English and Japanese. With only 1% of clients coming in to make payments (85% are direct billed and 15% are agency billed), the book is highly portable. Net Income after recast is $41,979. Profits could increase for a strategic buyer with an existing operation and can thereby eliminate some expenses or share others.  Seller is running this sub-optimally profit-wise.

NDA is required for first round package on the book of business crafted by ProNova Partners.

Detailed Information

Location:
Los Angeles, CA
Employees:
2
Facilities:
The location has been established for 32 years with minimal competition nearby. Approximately 700 square feet of office space in a small retail center rents monthly for $900. Month to month lease.
Competition:
There are two other players in the local vicinity and a number of other competitors as you expand outward, but not an immediate competitive threat because each player has different niche.
Growth & Expansion:
This book of business is portable. Seller recommends that the new owner hire producers to develop new accounts.
Financing:
If the price and deal structure is right.
Support & Training:
4 weeks at 20 hours per week.
Reason for Selling:
Retirement.
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(from currently available funds)
 
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Tina Zeng, MBA

Business Listed By:
Tina Zeng

ProNova Partners

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