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Mar 23, 2018 — Revenue went up by 10% Y-O-Y from '16 to '17 so this is not an Uber Doomsday sale!
Ideal transaction for someone that wants a physical presence in NYC and has an appetite for private passenger auto. Buyer will have to take over the existing office space at a good rental rate to maximize ROI plus you'll be more likely to keep the solid staff as part of the sale. Top carriers by revenue are American Transit, NatGen, Countrywide, Maya, Polanco, Progressive among others. Broker Fees are about $5k per month, so commission is at $240k annual - i.e. 3x Book value on a Steady Eddie 80%-ish commercial agency. Significant runway exists to round out the book with other lines of coverages including life/health/etc....NDA is required for first round due diligence package on file with broker.
Facilities: Plenty of space, good retail insurance office layout. Required to take over space since a decent amount of agency bill customers.
Competition: Competition is always strong in insurance.
Growth & Expansion: Possible to round out the book with additional coverages for a more diversified Agency.
Support & Training: As needed.
Reason for Selling: Retirement
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