OFF-MARKET-Motor club add on 4 Auto Ins High cash flow/profit for Sale

OFF-MARKET ‘Q1 2024

Insurance Agents and Carriers:  Seller’s product is a motor club add-on to Auto Insurance policies. There is currently a significant cash flow, profit margin, and customer base.

Asking Price:

$499,000

Gross Revenue:

$130,220

Net Income:

$82,000

Real Estate:

N/A

Established:

2016

Business Description:

The product covers towing of covered customers’ automobiles when needed as well as Mechanical First Aid, Tire Service, Battery and Lockout Service.   The coverage can be bound by any licensed auto insurance agent in a matter of minutes simultaneously with the binding of an Auto policy.  This offering includes a substantial cash flow, profit margin, and existent customer base.

The markup up and profit on each add-on policy sold by an auto insurance Producer who is a member of this program can be substantial while the product still remaining extremely competitive with the few other such offerings in the marketplace.  The Seller’s product provides two established and robust revenue streams for both Auto Insurance Producers and for Auto Insurance Carriers, with their networks of independent agencies.

The Seller has developed the necessary, working software technology to interact both with Insurance Agents, Insurance Carriers and Towing Services Providers.

The assets for sale are the Custom Software and working Website that allow agents to input the customer and bind the coverage while also handling billing.  Assets also include the current Customer List, Producing Agent list and Insurance Carrier list; the current Contract with the Roadside Service Provider and all existing relationships with contact information.  This opportunity presents a real income boost for agents and carriers coupled with a much-appreciated benefit for auto insurance customers

• Current revenue stream: Seller has an existent revenue stream and some thousands of customers. Seller’s product has enormous growth potential with a high profit, yet competitive product.
• Seller wishes to sell Custom Software and working Website that allow agents to input the customer and bind the coverage while also handling billing.  Assets also include the current Customer List, Producing Agent list and Insurance Carrier list; the current Contract with the Roadside Service Provider and all existing relationships with contact information for $499,000.00.
• Estimated, existent and additional expenses for purchaser: Minor expense to “hook up” Seller’s software with Buyer’s banking and tracking systems.
• Due to illness, Seller cannot expand business.

Employees:  2

Furniture, Fixtures, & Equipment N/A

Facilities:  Web based – relocatable across the USA

Competition:  Comprehensive package on file covers this, NDA is required.

Growth & Expansion:  Comprehensive package on file covers this, NDA is required.

Support & Training:  Two (2) weeks, ten (10) hours per week as needed.

Reason for Selling:  Health of managing Owner.  Comprehensive package on file covers this, NDA is required.