Description
SOLD ‘Q2 2022
Well-Established Mercury Agency with Commercial
Riverside, CA (Riverside County)
Seller Financing Available if the price and deal structure is right
Asking Price:
Competitive Auction Format
Cash Flow:
$550,000
Gross Revenue:
$990,000
EBITDA:
N/A
FF&E: N/A
Inventory: None
Established: 1995
Employees: 5
Business Description
Originally established as an independent insurance agency in 1995, this thriving Business was founded on a philosophy of offering personal and professional service. Since then, it’s grown into a full-service agency providing a range of insurance products to individuals, families, and businesses throughout California and Arizona.
Mercury General Corporation is a multiple-line insurance organization offering personal automobile, homeowners, renter and business insurance. Mercury clients makes up 29% of the entire book. On the whole, approximately 39% of business comes from commercial insurance with the other 61% in personal via one of the agencies 130 appointed carriers.
The client base was enhanced by modern advertising approaches prior to opening the business; launching local ads to attract new customers, loading the agency with new leads as it opened for business. Still today, the seller looks at marketing and advertising proactively as an opportunity to cross-sell every existing and new client in its appointment book. NDA is required {SUBMIT BELOW} for comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
Detailed Information
Facilities:
The Agency is centrally located in a small commercial building owned by the Seller. The building is not for sale. It is NOT included in the sale of the business.
The Seller will work with the Buyer in customizing the size of the premises establishing fair lease terms.
Competition:
The Mercury name has great value as a recognized brand. It offers an advantage in a somewhat fiercely competitive industry. But to stand out amongst the others, agencies have to offer exceptional customer service and a wide range of provider choices to meet a wide range of client needs.
Growth & Expansion:
Hire additional agents, designed and implement a commercial marketing campaign and nurturing online presence. Consider adding (or growing) other insurance related products like financial advisory and planning, like long-term care insurance and annuities.
Financing:
TBD if structure and terms are acceptable.
Support & Training:
To ensure a smooth transition and ongoing success the Sellers will work with a buyer as needed for three months, and up to six months as on-call consultants, or as negotiated.
Reason for Selling:
The Seller is looking to retire and spend time with his elderly parents.