Insurance Business - 500 policies makes $50k/ yr

Farmington, MN
Dakota County

New office in great/ visible location!

Asking Price: Annual Revenue:
$55,000 Not Disclosed

Services: Financial, Accounting, Insurance

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RE: Insurance Business - 500 policies makes $50k/ yr Broker: Seller of Business
Owner Financing is Available!

Quick Facts

Asking Price: $55,000
Annual Revenue: Not Disclosed
Net Profit: $75,000
Cash Flow: $25,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2016
Employees: 1
BBN Listing #: 323559272
Broker Reference #: Not Disclosed

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Business Overview:

A Farmers agent in the South Metro is looking to retire. This agent planned to work the business on a part-time basis, but business has picked up and they cannot keep up! The book is just under 500 policies and produces about $50,000 a year in renewal commissions alone - Average new business sales = $25,000/ year. This is perfect for someone who wants to enter into their own business, but does not want to start from scratch. Direct industry experience is not necessary, the new agent will have extensive hands-on learning, and the current agent is willing to stay on part-time if the new agent chooses.

This is a great opportunity for an entrepreneur who would like their next business venture to have residual income. Not only will the new owner maintain current commission rights and all new commissions, but they will also receive generous quarterly bonuses of TOTAL WRITTEN PREMIUM of all new business - this is to incentivize new business production, easily making their first year income $100,000+. The new agent will also receive a signing bonus, $5,000 lead/marketing bonus to help boost new business, and an annual bonus of all new business sales.

The location can be of your choosing as long as it is in a 20 mile radius. This book has one of the highest retention rate in the district.

Applicants must pass a background check. The buyer must also be willing to become licensed and appointed with Farmers Insurance.
You must have a minimum of $50,000 in assets to be considered for this acquisition - Not to be spent but simply verified to prove candidate's financial stability. The book's purchase price is negotiable. Purchase price can be in the form of a business loan - Farmers will just need an approval letter. Loans at a reduced rate are also available through the Farmers Credit Union. This is one of the few business opportunities that will give a buyer a ROI within their first year (if not first 6 months) of purchase.

If you would like more information please contact the Acquisition Specialist by replying to this post.

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Property Features and Assets:

Brand new office!

Reason for Selling:

Other business needs more time.

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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