SOLD ‘Q3 2024
Employee Benefits Book Produces $$ Profits Plus Lifestyle
Santa Paula, CA (Sonoma County)
Seller Financing Available
Asking Price: Best Possible Offer
Cash Flow: $289,000
Gross Revenue: $359,000
EBITDA: N/A
FF&E: N/A
Inventory: N/A
Established: 2004
Employees: 2
Business Description
This 20-year-old benefits agency was started by a married couple who knew their management experience in the insurance industry could be used to create a reliable business with unlimited income potential and a livable work schedule.
The health insurance market checked all the boxes and with hard work and dedication, the business grew into today’s thriving agency.
Through the years, they have grown the number of companies they represent and the number of groups provided for. As a two-person operation, the Sellers have maintained a balance between growth and customer care, crucial to avoiding overstretching resources. The Employee Benefits area of insurance has shown steady growth, without major fluctuations experienced by other lines of insurance coverage. Client’s industries are varied and not subject to severe business cycles.
Strong relationships with customers have allowed the company to weather challenges and adapt to changing circumstances.
Income is up 54.8% in the first quarter of 2024 over last year.
Although the majority of policies are Medical, Life AD&D, dental, vision, and chiropractic riders create the highest profit.
Blue Shield of CA, Kaiser, Principal Life, and United Health Care produce the most revenue.
NDA is required {SUBMIT BELOW} to secure the comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
Detailed Information
Facilities:
No facilities. All operations are home-based.
Competition:
Occasionally, the Company would lose a client to competing payroll companies only to have them return after being faced with the burden of managing their own benefits administration.
Growth & Expansion:
A Buyer may consider numerous opportunities to cross-sell existing clients. Suggestions would be to start soliciting for workers’ compensation coverage and other commercial insurance products.
Since Medicare and small groups are the most profitable, marketing efforts should start by seeking those customers.
Financing:
TBD if the structure and terms are acceptable.
Support & Training:
To ensure a smooth transition and ongoing success the Sellers will work with a Buyer to determine what support is needed.
Reason for Selling:
The Sellers are ready to retire.
SOLD-Portable NorCal Benefits Book of Business For Sale