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May 17, 2019 — 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.
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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