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If you are looking to buy a business or sell a business, GlobalBX can help you. GlobalBX is a free business for sale listing exchange that provides a confidential forum to facilitate the buying and selling of businesses with thousands of businesses and franchises for sale as well as comprehensive business information for business buyers and business sellers. Buy a business, sell a business, find a franchise for sale or franchise opportunity at GlobalBX. Click Here to access GlobalBX's full site.

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Insurance Agency Empire For Sale

Location  California,United States
Asking Price Range  $1.0M - $2.5M
Gross Revenues  $620000
Net Profit / Cash Flow  $180000
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Yes
Year Established  1992
Number of Employees  6 - 9
Inventory  50000
Relocatable  No
Number of Employees  6 - 9
Real Estate  Owned
Training  As needed. Sellers committed at least 8 weeks, 20 hours per week, more if necessary from the staff that will remain.
Reason for Sale  Other business interests.
Description  As outlined here, all 3 offices, 2 buildings with real estate improvements and land included for the $1,450,000 sales price. 25 year loan, 10% down SBA 7a program will be most likely acquisition scenario, with final terms dictated by the bank. This is a choose your own adventure based on final sales price: 1) $1.45MM - 3 offices - 2 buildings included. Booya! 2) $299k - Santa Barbara office, no real estate. 3) $629k - Oxnard office, real estate included. 4) $179k - Oxnard office, no real estate. 5) $529k - Paso Robles office, real estate included. 6) $179k - Paso Robles office, no real estate. Total gross revenue up for grabs is approximately $330,000 in commissions and $290,000 in broker fees. All offices have 2 full time licensed sales staff, so insurance agency background will not be required, but similar skills will be important for underwriting purposes by the bank. Approximate production by office is as follows: Santa Barbara - $150k Commission, $130k BF. Paso Robles - $90k Commission, $80k BF. Oxnard - $90k Commission, $80k BF. All of this production is without any significant attempt to cross-sell home, commercial, life, or health. This is 98% auto at this time. Home policies are referred out to a cooperative insurance Broker who pays the Sellers a finders fee. Plenty of meat on the bone for a large independent shop to acquire a large footprint in one swoop and mine the book for tremendous cross-sale revenue. Sky's the limit. Loss ratios are all under 60%. Top carriers by revenue are Progressive, Workman's Auto, Viking, Alliance. Approximately high 2MM's for gross premium on the books at this time. Sellers are in the process of ordering production reports.
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