Independent Insurance Agency In Riverside CA For Sale

Business description

The business provides various insurance and financial products to its clients with 75% of the book of business being Life Insurance. The business was started in June 2008 by the seller and wrote its first policy in September 2008. The business has experienced impressive growth and it was the intention of the seller to grow the business over a period of years, however, health concerns primarily has caused the seller to put the business on the market for sale. The strength of the business has been the ability to recruit agents as currently 16 full time and 14 part time agents are writing business. The seller would consider seller financing up to 60% of the selling price.

Property information

Real Estate:

Lease

Lease terms:

Lease expires 2/1/2010

Leasehold rent:

$2 per sq ft per annum

Premises details:

The office is conveniently located off a major highway and has 4000 sq. ft. The lease expires 2/1/2010.

Size in square feet:

4,000

Other information

Expansion potential:

The strength of the business is writing Life Insurance as this comprises 75% of the book of business. In addition, the product portfolio that the business has been able to secure has given the business a wide range of products to market to their clients and gives the business a competitive edge over other agencies.The business has direct billing with the carriers they represent, a persistency rate of about 95%, a management system in place, and a website.

Competition / Market:

Since the business is only 12 months old the seller has had the opportunity to do minimal marketing. Presently, new clients come mainly from agent referrals. Mailers, telemarketing, and attending seminars and conventions would be a logical next step to expand the business.

Support & training:

Seller will train new owner for 2 weeks full time.

Reasons for selling:

Health and other interests.

Trading hours:

Monday-Friday 8am-5pm

Financing available:

Please call broker for details.

Furniture / Fixtures value:

$14,000 (included in the asking price)