Owner Financing is Available!
Business Overview:
Broker needs offer signed both ways, but is confident business will qualify for SBA financing given qualified buyer with good history in related field and good credit, etc...Typically down payment amount is in 30% range, so you're looking at a $75,000 down payment helping you buy a pretty well diversified portfolio of clients that the Seller has had for a very long time. This is a relationship driven business as many veterans know, so "fit" between Seller and Buyer will likely be important. Seller is pleasant, so now it's up to the Broker to find an equally charming Buyer. 434 clients have accounts with Columbus life. Cash value in polices of $5,896,000. 47 Ameritas clients $607,737. 106 Annuities clients at $4,203,000. 55 Term life clients at $10,500,000 face amount. 3 401,000 plans set up that flow about $6,000-$7,000 per year in profit. Seller generates about $150-$175,000 per year in net income from this pool of clients by diverting funds here and there, re- marketing, servicing, referrals, etc...Good persistency, 98% weighted persistency average for the book. $200,000 plus gross income on Schedule C last 3 years, this is a solid earner.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
$50,000 a year in income just on the renewals for the book provides a nice passive revenue cushion, in addition to the "pop" associated with first year commissions from new life policies written. Trade name, book, appointments, phone number, leasehold if desired, it all will be transferred to a qualified buyer. NDA is required to schedule call or meeting with Seller. Utmost confidentiality required.
Market Competition and Expansion:
Facilities (Home Based): Run out of an office, but could be absorbed into home office setting.
Growth and Expansion: Would be ideal for financial planner or established player in life business seeking to expand their book at a cost of $75,000 down payment.
Support/Training: Seller will transition to new owner for a pre-determined time period that could be agreed upon based on a retainer/salary basis if it's over a certain threshold period.
Reason Selling: Retirement.
Year Established: 1993
Employees: 1
Reason for Selling:
Retirement
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is a homebased business opportunity.
- This is not a franchise resale opportunity.