OFF-MARKET-Duo of Allstate Agencies for Sale in PA

OFF-MARKET ‘Q4 2021

Duo of Allstate Agencies in PA – A Premium Buy!

Allegheny County, PA (Allegheny County)

Seller Financing Available if the price and deal structure is right

Asking Price: $1,200,000.00

Cash Flow: $302,000

Gross Revenue: $596,031

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: 2007

Employees: 4

Business Description: After establishing the Business in 2007, the Seller purchased four additional books from retiring Allstate agents during the first five years of operation. Each book was strategically chosen for its location, size and demographics and how those factors complimented existing accounts. Policies still active from those acquisitions is a testament to the high level of customer satisfaction and a well-run agency.

Currently, the agencies have 5,045 Allstate policies in force that bring in $5.6 Million in premiums.

Referrals (from both customers and networking sources) and cross-selling to the existing books of business are key revenue drivers. The Company offers excellent homeowner’s rates. On a book this size, there is much internal growth possible through cross-selling. NDA required (SUBMIT BELOW) for Confidential Information Memorandum (CIM) crafted by ProNova Partners.

Detailed Information

Facilities:
Two large, professional offices are rented for a total of $2,300 per month. Both have landlords willing to work with a buyer.

Competition:
A small percentage of unhappy customers or hard to please price-only shoppers flutter from carrier to carrier – these small losses are considered to be a repositioning of clients. Policies written for clients adding coverage, like for a new house or other purchase are rarely lost thanks to the strong Allstate name and reputation.

Growth & Expansion:
Referrals from mortgage brokers and realtors and development of financial services and target Uber and Lyft drivers and people renting portions of their homes through Air B&B/VRBO as Allstate has specialized products for those customers that other carriers aren’t offering.

Financing:
Available if the price and deal structure is right for a highly qualified buyer with a large down payment.

Support & Training:
Four weeks at 20 hours per week with potentially additional support from the sales manager as negotiated.

Reason for Selling:
To expand the family’s property management portfolio and travel.