Description 2 unit insurance agency office purchase, locations are 1.6 mi. away from each other, so can't beat the commute back and forth. Fully staffed turnkey offices, simple operations, almost all non-standard auto clients. 50% of the book is Infinity, 40% Access, a couple Alliance United and some other miscellaneous carriers sprinkled in as well, has some commercial auto, but nothing major.
One office is engaged in DMV registration services which throws off an additional $1k per month. Tax services offered also during tax season, so these are multi-dimensional highly trafficked offices for the personal/business services provided to the clientele. 65% approximate retention, 50% Agency Bill clients / 50% Direct Bill clients, so it is not advised as a roll-up acquisition as a Buyer would likely face client retention and ROI issues if you abandoned the current retail locations. NDA is required to do a drive-by of the location, financial due diligence package is pending but should be ready by 5/7/14.
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: 2 brick and mortar retail offices with high traffic counts. Offices and lease(s) should be continued with sale.
Competition: Non-standard auto market is competitive, but office 1 has been at the same location for 6 years, office 2 has been there for 3 years, so these are seasoned locations with stable book(s).
Growth & Expansion: Not doing much cross-selling, penetrate other lines of coverage like home/commercial/health etc...
Support & Training: As needed.
Reason for Selling: Other business interests.