Listing ID: 66930
Business Overview
Allstate is looking to put you into an office of your own.
Allstate is the only insurance company that will train and assist you in getting your office up and running without franchises or royalty fees.
A unique and awesome opportunity with an industry leader in a business that can survive economic changes as a truly recession-resistant business.
The $100,000 investment is not paid to Allstate but is required capital to maintain the individual until the new office is self-sustaining. The money can be gifted, a loan or other liquid asset.
No insurance experience as Allstate is looking for the entrepreneur that has the desire to lead a team in a growing small business while making endless revenue. An individual that is passionate about helping people plan for life’s biggest events.
The insurance industry is virtually inflation/recession resistant. The industry has been around and successful for over 100 years and Allstate is one of the major players.
Commissions are earned by selling new policies and each time a policy is renewed.
*Demand: Insurance is something needed or sometimes required
*Revenue: Each new policy or a renewal of a policy earns a commission
*Inventory: There is none
*Equity: The office you open becomes yours and you can sell it or Allstate will buy it.
Owning an economic interest in the Allstate policies you sell while building your agency and it’s valued, forms an excellent partnership with a supportive and successful industry leader.
Financial
- Asking Price: $100,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1931
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
Small brick and mortar office.
Initial training to get you ready and proficient to open your own Allstate Insurance Office. Ongoing education and support throughout your relationship with Allstate.
Most companies will hire you as an Insurance Agent but Allstate puts you in business and you have the option of hiring agents.
***NEW OFFICES*** to open in Washington: Clark County, Lewis County, Thurston County, Pierce County, King County, Whatcom County, Snohmish County and Skagit Country. Call me to be considered for any of these expanding areas. Allstate offers Life, Home, Auto, Boat, Renters and Business insurance with 47 different products.
Additional Info
The venture was started in 1931, making the business 91 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons people decide to sell businesses. Nonetheless, the true reason vs the one they tell you may be 2 totally different things. As an example, they might say "I have way too many various commitments" or "I am retiring". For many sellers, these factors stand. But also, for some, these might just be excuses to attempt to conceal the reality of altering demographics, increased competitors, current decrease in incomes, or an array of other factors. This is why it is really vital that you not depend entirely on a seller's word, but rather, make use of the vendor's response combined with your general due diligence. This will paint a more sensible image of the business's existing situation.
Existing Debts and Future Obligations
If the current business is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Numerous companies borrow money in order to cover things such as supplies, payroll, accounts payable, and so on. Keep in mind that sometimes this can mean that earnings margins are too thin. Numerous organisations come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future commitments to think about. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with suppliers that should be fulfilled or may result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location draw in new consumers? Many times, companies have repeat consumers, which develop the core of their daily revenues. Specific elements such as new competition growing up around the location, roadway construction, as well as employee turn over can influence repeat clients and negatively impact future profits. One crucial thing to take into consideration is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the main road? Obviously, the more individuals that see the business often, the greater the opportunity to develop a returning consumer base. A final idea is the basic area demographics. Is the business placed in a densely populated city, or is it located on the outskirts of town? Just how might the local typical house earnings influence future income prospects?
