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Reputable Commercial Automobile Insurance Provider

South East

Reputable Commercial Automobile Insurance Provider
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Asking Price: N/A

Cash Flow: N/A

Gross Revenue: $8,000,000

EBITDA: $1,200,000

FF&E: N/A

Inventory: N/A

Established: 2003

Reputable Commercial Automobile Insurance Provider

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Business Description

Actively seeking a partnership is a commercial auto insurance company headquartered in the Southeast. The Company primarily targets taxi drivers,
limousine drivers, and other light commercial vehicle operators. The owners first entered into the insurance business in 1980 to reduce the cost of
insurance for their taxi business. Over the last 38 years, they have grown through several reorganizations including the establishment of the
Company in 2003. For nearly four decades, the Company has remained focused on being the low-cost commercial vehicle insurance provider with
outstanding service to its customers. In 2018, revenue was comprised of Taxi Auto Insurance, Limousine Auto Insurance, and Light Commercial Auto
Insurance. In 2019, the Comapny is planning to launch a new, cutting-edge Ride-Share policy for Uber and Lyft drivers who want more
comprehensive coverage than what is offered by those companies. The Company has over 1,190 clients within its entire client base and 67% of the
Company’s revenue comes from repeat business. Overall, the established customer base is a strong asset that contributes to stability and presents
opportunities for revenue growth. The two owners are supported by five employees. The Company’s employee base comprises management,
accounting, underwriting, and claims staff members. Overall, the Company’s employee base has a diverse professional background, depth of
experience and strong technical knowledge.

Detailed Information

Employees:
7
Facilities:
The Company operates from a Company-owned 5,178 square foot facility.. According to management, the fair market rate for the property is approximately $120,000/year.
Competition:
Diversified Customer Base: No single customer accounted for more than 2% of revenue during the historical period. The diversified customer base helps ensure that the Company will not be significantly impacted by the loss of a single account. Superior Name and Reputation: In business since 2003, the Company has built substantial goodwill by providing quality products and excellent customer service. Management credits reputation and established strong customer relationships as the two most critical factors contributing to the Company’s historical success. Industry Expertise: In addition to the active principals’ extensive industry experience, many key employees have significant industry and product knowledge. This wealth of experience and expertise provides the Company with a significant intangible asset and advantage over many regional and national competitors.
Growth & Expansion:
Critical Mass: The Company’s estimated sales of $8.0 million in 2019 will be attractive to buyers seeking to establish a foothold in the industry or increase market share. The Company’s critical mass is a result of its comprehensive product offerings and established reputation within the industry.
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(from currently available funds)
 
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Julie Sandoval

Business Listed By:
Julie Sandoval

Generational Equity, LLC

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Sponsoring Broker:
Lisa Lippe

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