OFF-MARKET ‘Q1 2023

New England Employee Benefits Agency Stable Customer Base

Seller Financing Available

Asking Price: Best Possible Offer

Cash Flow: $370,000

Gross Revenue: $550,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: 1995

Employees: 1

Business Description

Since 1995 this centrally located Massachusetts Business has served clients all over the state, grown across six neighboring New England States and has garnered recognition across the country.
The business model is the offering of comprehensive regionally-focused employee benefits planning services to companies with more than fifty employees. Plans can establish benefits programs or reduce the cost of existing employee benefits, even taking on HR Department responsibilities.

Not only has the Company been effective at reducing costs, the team has also been able to enhance benefits and guide employees into retirement via Medicare and Investment products. Employee Benefit Services also ensure state and federal compliance for employers. Regardless of size, employee benefits planning is an important part of running successful, growing businesses that attract and keep the highest level of talent. This business makes that effective and easy for so many others.

The qualification, education and experience of the small but stable staff and Seller’s stellar leadership has resulted in 25 years of goodwill and is still a going concern – even more so thanks to a significant investment in the CRM system that has increased timely customer outreach.

It’s proven track record of reducing costs has resulted in high annual renewal rates; that are in part attributed to strong vendor relationships that provide the best/lowest rates. Customer base of ~300 groups all-in spread across a wide variety of industries makes this an excellent strategic acquisition for an established benefits house that has the servicing capacity to renew the customer base. NDA is required for comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners {SUBMIT BELOW}.

Detailed Information

Facilities: The Seller-owned property does not go with the sale but can be rented for the current rate of $2,000 per month. The commercial property was formerly a residential home that has been renovated. Three other businesses rent space in the well-located building.

Competition: Thanks to years of experience and stable customer base, smaller companies or start-ups in the industry are not a threat; but that means the business biggest competition is the larger, well-staffed and well-resourced national providers. However, relationships with healthcare vendors rarely result in rates they cannot match. It’s all about individual service to the customer so they feel valued.

Growth & Expansion: Can be achieved by creating cross-selling opportunities for voluntary benefits and adding Wellness Plans, Property and Casualty, 401K product plans to all clients and to bring in new clients.

Financing: Seller is open to various deal structures if the price and terms are favorable.

Support & Training: As needed as an employee if acquired by a bigger organization or on a contract basis after initial the transition.

Reason for Selling: A bigger company could grow the business bigger/faster than the current team.