Business For Sale

90% Home & Auto Farmers Insurance Agency

Lincoln, NE
Lancaster County


Asking Price: Annual Revenue:
$119,000 $102,000

Services: Financial, Accounting, Insurance


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RE: 90% Home & Auto Farmers Insurance Agency Broker: Cortney Sells
Owner Financing is Available!
10% of purchase price

Quick Facts

Asking Price: $119,000
Annual Revenue: $102,000
Net Profit: Not Disclosed
Cash Flow: $71,336
Total Debt: Not Disclosed
FF&E: $4,001
Real Estate: Not Disclosed
Year Established: 1970s
Employees: 1
BBN Listing #: 755534398
Broker Reference #: PRO012

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Business Overview:

Earn a $10,000 startup bonus as a new Farmers agent! The Lincoln location of this Farmers Insurance agency has been in operation since the 1970s, and has recently moved to a higher profile spot. Newly remodeled, the 750-sq. ft. office is along a well-traveled highway and leased for $868/month. Over 40 insurance products are available, with 90% of sales and renewals coming from home and auto policies.

The seller is looking to retire from the industry due to health issues, but will leave behind roughly 400 policy holders each averaging 2.3 policies. The agency has a high retention rate of 90%, compared to the Nebraska state average of 82%. Assisting with customers is a Customer Service Rep working about 30 hours/week at a rate of $12/hour. A part-time associate comes in when needed.

Growth exists in selling health insurance and crop insurance policies, as well as growing the life and business policies currently comprising 8% of sales. Agents earn points based on policies sold, with each product earning points so that no one insurance product is the sole focus. Bonuses in 2018 are set to range from between 6% and 30% of sales.

Under current rates and sales trends, 2017 sales are expected to reach $121,000 with a take home of over $71,000. This is a guaranteed strong earner, as insurance rates continue to rise and remains a perpetual must have.

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Property Features and Assets:

Assets Included in Purchase: $4,000 Equipment: $4,000 in office equipment and supplies Intangible Assets: name recognition, remodeled interior in new company colors/logos, new digital sign along major highway *amounts may vary Lease: $868/mo for 750 sq. ft. ($12.75/sq. ft.) – area average is between $15-$17/sq. ft.!

Market Competition and Expansion:

Number of Clients: Roughly 400 clients with 2.3 policies per client; 90% retention (NE averages 82%) Policies: 90% home/auto/motorcycle/RV, 7% life/specialty, 3% business

Reason for Selling:

Health issues

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 a franchise resale opportunity.

Documents:

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