Listing ID: 80758
Business Overview
Looking for a great way to replace your current salary and hedge against downturns? Own a well established Allstate Agency!
Proven to be resilient and virtually recession proof, these agencies utilize multiple income streams with financially sound results. This is an excellent opportunity to purchase a well established book of business! $1.4M+ book with 88% retention means predictable recurring income month after month. Over $216k in annual commissions and 3 agents already on staff with a 4th available. All lines and dual licensed in WA and I
Financial
- Asking Price: $199,000
- Cash Flow: $61,470
- Gross Revenue: $144,309
- EBITDA: N/A
- FF&E: $5,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2009
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:3
- Furniture, Fixtures and Equipment:N/A
Affordable lease, located by other high traffic businesses.
Will train for 2 weeks @ $0 cost. Agency Owner willing to stay on for initial transition period. Excellent training and support provided by Franchisor. Experienced licensed staff already in place. New owner will need/obtain license.
Other business opportunity forces sale.
Competitive edge over others in the industry with higher profits and retention rates.
Growing city, great location with exposure to high traffic count.
This Business Is An Established Franchise
Additional Info
The company was started in 2009, making the business 13 years old.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals resolve to sell operating businesses. Nevertheless, the true factor vs the one they say to you may be 2 entirely different things. For instance, they might say "I have a lot of various obligations" or "I am retiring". For many sellers, these factors stand. But also, for some, these might simply be justifications to attempt to hide the reality of altering demographics, increased competition, current decrease in revenues, or an array of other reasons. This is why it is really vital that you not count absolutely on a seller's word, however rather, utilize the vendor's answer together with your total due diligence. This will paint a much more reasonable picture of the business's existing scenario.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of companies are, then you will need to consider this when valuating/preparing your offer. Numerous companies finance loans so as to cover items such as stock, payroll, accounts payable, etc. Keep in mind that sometimes this can indicate that profit margins are too thin. Numerous organisations fall into a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future obligations to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with suppliers that have to be fulfilled or might lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location draw in new consumers? Most times, operating businesses have repeat consumers, which develop the core of their day-to-day profits. Particular factors such as brand-new competition growing up around the area, road building and construction, and also employee turn over can impact repeat customers and also adversely influence future incomes. One important point to think about is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more individuals that see the business on a regular basis, the better the opportunity to build a returning customer base. A last idea is the general area demographics. Is the business placed in a largely populated city, or is it located on the outskirts of town? Just how might the neighborhood average home earnings influence future earnings prospects?
