Turnkey office that is cruising right along averaging around $6k / month Broker/Endorsement/DMV Fees and $4k / month commissions. Top few carriers by revenue are Mendota, Anchor, Reliant, Explorer, Greenpath, RMIS. Writing coverage with most of the other non standard carriers as well on this 90% auto book. Clean loss ratios, no gremlins according to the Seller. He is looking to relocate back overseas to secure equipment to start a new restaurant venture in the US sometime in 2017 so cash only transactions are required & should not require financing from any 3rd party. NDA is required for first round due diligence package on file with Ace Business Brokers which includes a manual & detailed reporting on all deposit and expense activities for the trailing 7 months.
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: 1,100 square feet retail strip center location. Lease payment is $2k monthly all in. Plenty of parking, perfect non-standard entry level auto insurance office, 5 desks, only 2 occupied so there’s room for internal expansion for the Buyer.
Competition: Non standard auto insurance market is fiercely competitive. But the customer base here is solid and pretty much the industry average retention of around 60%.
Growth & Expansion: Multiple available desks if the new owner wants to add producers or licensed agents to cross sell other lines. 90% auto insurance, a sprinkle of home & commercial & motorcycles written through GA’s.
Support & Training: As needed. Simple operation shouldn’t take much hand holding.
Reason for Selling: Other business interests.