Property and Casualty Insurance Business

Bronx, NY (Bronx County) (Relocatable)

Seller Financing Available
Property and Casualty Insurance Business
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Asking Price: $499,999

Cash Flow: $148,000

Gross Revenue: $284,000

EBITDA: $148,000

FF&E: $15,000

Inventory: $3,000

Rent: $2,500 /Month

Established: 1965

Property and Casualty Insurance Business

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Business Description

Independent Brokerage/Agency for Sale

Over 50 years, well established P&C business for sale. Perfect owner-operator opportunity, as this business is currently operated by three full time employees. Owner non active. Numbers reflect adjusted P&L once owner gets involved and terminates an employee. Standard and Non-standard Auto/Commercial book of business with $2.2M premium policies in force. $220K in gross commissions, $75k in broker fees. Most of the business is with NYSIF, Integon, Progressive, and wholesalers. 80% Auto, 5% Commercial, 5 % Home, and 10% finance.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,500
Lease Expiration:
8/31/2020
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The office is rented. There is a 5 year lease expiring October 2020 and there is a 5 year renewal option
Competition:
The are other insurance business in the area. Competition would be there however good customer service, intensive marketing, follow up, and product diversification differentiate us from the competition.
Growth & Expansion:
The office has over 800 clients and we receive on average 20 new phone calls a day. This makes it a great opportunity to build up a tax practice where you can prepare about 300-350 tax returns. Average tax fee per return $300 would increase the gross revenues by $90K-$120K.
Financing:
Seller willing to finance part of the purchase price.
Support & Training:
Seller will stay on for a period to support the transition.
Reason for Selling:
Pursuing other business opportunities
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Business Listed By:
Ed Mertiri

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