2 Office Santa Barbara Area Insurance Agency

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Asking Price:$156,000 Gross Income:$141,940 Cash Flow:$66,728
EBITDA:N/A FF&E:$5,000 Inventory:N/A
Real Estate:N/A Established:1993 Employees:2

Business Description

2 unit chain of non standard auto insurance agency offices. One is primary sales office, one is primary service office, but rents are very cheap so it's best to leave them as-is at least for a little while. Perfect entry level acquisition for someone looking for an expanded footprint into California's wine country between SF and LA. Top carriers by revenue are Commerce West, SCJ, Personable, Progressive, Carnegie, 2015 1099's were only spread across 15 carriers. Loss ratios a combined 58.06% across all carriers with a little north of $1MM in premium up for grabs. Does some decent broker fee revenues, but nothing too crazy (about $30-$40k annually) & Buyers would be advised to continue these practices in order to retain historical levels of net income. NDA is required for comprehensive package on file with Ace Business Brokers.

Additional Features

Real Estate: Leased

Building Sq. Ft.: N/A

Lease Expiration: N/A

Employees: 2

Furniture, Fixtures, & Equipment (FF&E): Included in asking price

Facilities: 2 offices in the greater Santa Barbara area.

Competition: Competition is strong in the non standard market, but this Owner takes great care of his customers so they have a higher retention than most shops of a similar make up.

Growth & Expansion: Mostly an auto shop, so opportunity to round things out exists for Buyers that care to multi-line the customer base.

Support & Training: As needed.

Reason for Selling: Other business interests.

 

Ace Business Brokers NDA & Buyer Profile

 

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