Business Overview:
This business is a full service independent insurance and financial company. It has been established in its main location in SW Washington since 2002 and its second location since 2010. The business has over 1500 households - with numerous clients in each household - holding assorted products and with an average retention rate of 95%. The purchase price includes the real estate in both locations (The main office- 4400 sq ft building and the second office - 1000 sq ft building). The business has three areas it specializes in - Insurance products (general), financial investments & planning, and property & casualty(P&C=75% of its business is made up of personal and 25% is commercial).The business specializes in working with veterinary clinics. The insurance business represents over 100 companies and provides P & C (personal and commercial), long term health care, life insurance, disability insurance, health insurance and financial planning; the financial side of the business does fee based asset management, retirement planning, employee benefit plans income distribution, estate planning, and charitable giving. This company is one of the largest producers for Hartford AARP in the State of Washington. The business is licensed in at least 7 states. There are 7 agents (most have been with the company for 5 years or more), not counting the owner in the company with about 9 to 10 support staff. The Buyer will get all renewal and "trail commissions of existing clients. The Seller wants to retire in 3 to 4 years and will stay on with the business as an agent, on commission, to help with the transition of the business and his clients. The main office has room to add a call center or additional offices for agents if the new Buyer so desired. This is a totally turn key operation and is priced very well.
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:
This is an established independent insurance company with two locations – in SW Washington. One location opened in 2002 and has 4,400 square feet with 7 sales offices, 4 cubicles for the supporting staff, offices for the manager and owner, a huge room that could be used for a calling center, a safe vault area for storage of records, a conference room and kitchen and eating area. The other office, which opened in 2010 was completely remodeled, is 1,000 square feet and has offices for 3 agents and is set up for additional support staff. The second office is in a very desirable location at the entrance to the main street of town. The main office is in the downtown core area. Both locations real estate is included in the price of the business; both locations have on site parking.
Market Competition and Expansion:
There are other insurance and financial companies in the area, however, the retention rate by this business is around 95%, and the average growth of the business is around 20% a year even in these times. This company also specializes on the commercial side with veterinary practices. The company is set up to be able to "cross sell" products to clients, thereby, capitalizing on each client and securing all of their business. The main office has an extra very large room, which is not being used currently, and this room could be converted to a call center or used for more offices for new agents. The second office is new, just started in 2010, and is just starting to mature; there is lots of potential to expand the business in this office.
Reason for Selling:
The Seller wants to retire after 22 years
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.