SOLD-Group Benefits Insurance Book for Sale – (Fallbrook, CA)

SOLD! ‘Q4 2018

Find Group Benefits Insurance Book for Sale! 

Looking for a Great Deal for a Group Benefits Insurance Book?

Look no further, here it is!

Agency Description:

Established: 1980
Fallbrook, CA (San Diego County)
Asking Price: $1,500,000
Gross Revenue: $519,036
EBITDA: N/A
FF&E: N/A
Inventory: N/A

Group Benefits Insurance Book for Sale! – (Business Description)

• This Group Benefits Insurance Book offers 150+ policies, group health, dental, Medicare, individual with a small number of life insurance policies.
• This is a very persistent book of business with the majority of clients staying with the Agency for over 5 years, many well over 10 years.
• Largest accounts are with Blue Cross and Blue Shield.
• Seller has been in insurance for well over 40 years and is ready to retire.
• Further details of this book of business provided in first round package.
• Signed NDA required for release.

Detailed Information:

• Facilities: Small quiet office in a small business park with plenty of parking.
• The office is used by Seller and one full-time office manager.
• The lease is expiring. Buyer can either sign 3 years least to keep the office or close it.
• Competition: The Seller has taken good care of the client base and has secured referrals as the main driver of revenue expansion.
• Growth & Expansion: Primarily a renewal book. Excellent cross-sell opportunity for a Buyer who handles commercial and personal P&C insurance as well as group benefits and health.
• Support & Training: As needed.
• Reason for Selling: Retirement.
• Financing: $850k down, $650k finance over 60 months at 5% interest.

General Business Summary:

• 2017 Commissions $519,036
• Over 150 Policies total!
• Group Life & LTD, 401k, and Medicare
• All Commission Income – no broker fees.
• A small percentage of bonus income
• 1 full-time office manager.
• Seller is licensed in several states, however, 100% of current book of business is covered by CA license
• Seller takes advantage of ancillary services and admin offered by carriers to keep his expenses low
• The book is relocatable!