Business For Sale

400 Policies Taxi Limos 200 Policies Personal Line

Jackson Heights, NY
Queens County


Asking Price: Annual Revenue:
$599,000 $300,800

Services: Financial, Accounting, Insurance


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RE: 400 Policies Taxi Limos 200 Policies Personal Line Broker: Rick Carlson

Quick Facts

Asking Price: $599,000
Annual Revenue: $300,800
Net Profit: Not Disclosed
Cash Flow: $193,400
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 310627574
Broker Reference #: 716 Insurance

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Business Overview:

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 $240,000 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 ProNova Partners.

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Property Features and Assets:

Facilities: Plenty of space, good retail insurance office layout. Required to take over space since a decent amount of agency bill customers.

Market Competition and Expansion:

Competition: Competition is always strong in insurance. Growth & Expansion: Possible to round out the book with additional coverages for a more diversified Agency.

Reason for Selling:

Retirement

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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