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- RE: Independent Agency Loyal Asian-Speaking Clientele
- Contact: Rick Carlson
- License #: 01820673
Quick Facts
| Asking Price: | $1,850,000 | |
| Annual Revenue: | $670,000 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $630,000 | |
| Total Debt: | Not Disclosed | |
| FF&E: | Not Disclosed | |
| Real Estate: | Not Disclosed | |
| Year Established: | 2007 | |
| Employees: | 4 | |
| BBN Listing #: | 980828 | |
| Broker Reference #: | 1281 INSURANCE |
Business Overview:
This 17-year-old commercial-focused agency was started by an ambitious individual looking to serve the San Gabriel Valley’s large Chinese and Vietnamese community by joining a cluster (Access Pro Alliance Insurance Services) to overcome challenges to work with top carriers and steadily grow the company. Today the agency brings in premiums of over $6,500,000 via more than 2,200 policies, and over $700,000 in annual commissions and fees.
Personal Lines account for 65% of policies.
Commercial Lines account for 32% of policies
Health and Life Policies account for the remaining 3% of policies.
The book continues to grow thanks to a 50% client referral rate. The Chinese Yellow Pages brings in another 20% of new business while local realtors and loan agent referrals account for another 30%. Buyers can continue to work with the cluster if they choose, but the agreement is no longer enforced.
The CRM System is QQ Catalyst and the agency uses FSC Rater for quotes.
One full-time CSR and one part-time CSR – who are both multi-lingual – are valued for their language skills and customer service abilities.
Buyer Qualifications: Potential Buyers must be fluent in Chinese, Mandarin, Cantonese, and Vietnamese. Only brokers with direct appointments to Mercury and primary carriers will be considered.
NDA is required to secure the comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
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Property Features and Assets:
The agency operates from a storefront, renting 800 square feet for $1,500 a month.
Market Competition and Expansion:
Competition: Insurance is competitive, but the ability to speak the client’s native language provides clear short and long-term advantages.
Growth & Expansion:
1. Hire additional staff to support sales and cross-sales.
2. Expand digital marketing and online presence.
3. Increase focus on commercial accounts.
Reason for Selling:
The founder is ready to retire.Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
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