Listing ID: 75978
Great growth opportunity with Allstate. Established Allstate insurance agency with 2.2M book of business! This agency handles both individual home and auto policies, commercial policies and is licensed in New York City. Agency has a good retention/renewal rate, as well as loss ratio. This is a turnkey opportunity for someone looking to get into the insurance industry or for someone looking to expand their current insurance footprint. The business sale includes desks, office, conference room table, front desk, storage cabinets, Allstate decals, waiting area furniture. Allstate approval required. Owner is leaving industry and unable to run the office, listed at a great value!
- Asking Price: $290,000
- Cash Flow: N/A
- Gross Revenue: $135,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2015
- 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
Other business interest
The venture was established in 2015, making the business 7 years old.
The business has 1 employees and is located in a building with approx. square footage of N/A sq ft.
The property is leased by the company for $2,000 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons people decide to sell operating businesses. However, the real factor vs the one they tell you may be 2 absolutely different things. For instance, they may state "I have too many other responsibilities" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these might simply be reasons to try to conceal the reality of altering demographics, increased competition, current decrease in profits, or a variety of other factors. This is why it is very crucial that you not rely totally on a vendor's word, however instead, make use of the seller's answer in conjunction with your general due diligence. This will repaint a more practical image of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your deal. Lots of businesses borrow money with the purpose of covering points such as supplies, payroll, accounts payable, and so on. Remember that occasionally this can indicate that revenue margins are too small. Numerous businesses come under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future obligations to take into consideration. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with vendors that need to be satisfied or may cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location bring in new clients? Most times, operating businesses have repeat clients, which develop the core of their day-to-day earnings. Specific variables such as brand-new competition growing up around the area, road building, and personnel turn over can affect repeat consumers as well as adversely impact future profits. One vital thing to consider is the location of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Certainly, the more people that see the business often, the greater the possibility to construct a returning client base. A final idea is the basic location demographics. Is the business located in a densely inhabited city, or is it situated on the edge of town? Exactly how might the regional mean home income effect future earnings prospects?