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San Diego P/C indpt brokerage 95% commercial. $905K Rev.

San Diego, CA (San Diego County) (Relocatable)

Insurance Agency Appraisal
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Asking Price: $3,200,000

Cash Flow: $404,000

Gross Revenue: $905,000

EBITDA: $404,000

FF&E: $5,000

Inventory: N/A

Rent: $4,000 /Month

Established: 1993

San Diego P/C indpt brokerage 95% commercial. $905K Rev.

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Business Description

San Diego P&C independent insurance brokerage for sale

Rare, once in a quarter century, unique and extraordinary strategic acquisition opportunity to acquire a full service property and casualty independent insurance brokerage in one of the most beautiful, desirable and affluent cities in the United States. Annual Seller’s Discretionary Cash Flow margin is a strong and consistent 45% and the brokerage operates smoothly and highly profitably when the owner is away on vacation and operates perfectly well during the owner’s regular extended golf trips. The acquirer of this brokerage can be as much or as little involved in day to day operations as they so desire. This brokerage is being sold by the very owner who founded the brokerage nearly 26 years ago.

California Agency is a full service property and casualty independent insurance agency founded in 1993. Agency is being sold because the founder and president is retiring.

Agency has four employees; three customer service reps and one bookkeeper. All are licensed and have been with the Agency for 3-12 years.

Agency has 960 total clients with 2,868 total policies; with an overall retention rate of 94%. The Agency policies are 95% commercial and 5% personal. Year 2018 had 2,637 renewal policies and 231 new business policies.

Agency works with over 100 carriers. Top rated carriers include Hartford, Liberty Mutual, Nationwide, CNA, SCIF, Falls Lake, Travelers, Allied and Mercury, among many others.

Top product lines include workers' compensation, package policies and auto. Agency has tremendous growth potential via cross-selling as many clients are one policy clients and at least half of all policies can be cross-sold. Agency is also realizing strong current growth adding 231 new business policies during 2018.

Agency is appointed in California only and thus serves only the California market.

Agency management system is Instar.

Seller leases office space from himself at a market rate so a long-term lease is available. The seller is also willing to sell the building with the Agency, if buyer is so interested.

Total annual written premium for 2018 was $7,000,000
Annual commission revenue for 2018 was $905,000
Adjusted EBITDA $404,000

Asking price $3,200,000

Step one is to email me using the email address below and I will promptly reply with an NDA for you to sign and return. Please do not call first as a discussion is not going to happen until the NDA is signed and returned to me. Once the NDA is signed and returned to me, I will then provide you with all information necessary for you to properly evaluate this buying opportunity. If you contact my client directly without my prior knowledge and written consent, I will remove you from this buying opportunity process. All inquiries and requests for information must be directed solely to me; until such time that is it pre-arranged and appropriate for a phone and/or in person meeting with my client.

Please be certain that your email has a complete signature line that includes your full name, title, company name, business mailing address, email address and phone numbers; because in order to do business with you, I need to know with whom I am dealing.

I strongly prefer to work directly with actual buyers only. If you are a business broker, M&A professional or a transaction intermediary, then you need to have a signed agreement with your buy-side client that states that your compensation will come from your buy-side client as I do not engage in commission sharing under any circumstances. Thank you.

Sean H. Hayes, CVA
Expert Insurance Agency Appraiser
M&A Transaction Advisor
225 N. Columbus Dr., Suite 4301
Chicago, IL 60601

Detailed Information

Location:
San Diego, CA
Real Estate:
Leased
Building SF:
3,000
Lease Expiration:
N/A
Employees:
4
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Seller leases office space from himself at a market rate so a long-term lease is available. The seller is also willing to sell the building with the Agency, if buyer is so interested.
Competition:
Agency has 960 total clients with 2,868 total policies; with an overall retention rate of 94%. The Agency policies are 95% commercial and 5% personal. Year 2018 had 2,637 renewal policies and 231 new business policies. Agency works with over 100 carriers. Top rated carriers include Hartford, Liberty Mutual, Nationwide, CNA, SCIF, Falls Lake, Travelers, Allied and Mercury, among many others. Agency is appointed in California only and thus serves only the California market. Agency management system is Instar.
Growth & Expansion:
Top product lines include workers' compensation, package policies and auto. Agency has tremendous growth potential via cross-selling as many clients are one policy clients and at least half of all policies can be cross-sold. Agency is also realizing strong current growth adding 231 new business policies during 2018-2019.
Financing:
Seller desires all cash deal so buyer will need to pay cash or obtain financing.
Reason for Selling:
Agency is being sold because the founder and president is retiring.
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Business Listed By:
Sean Hayes

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