Allstate Agency Mega in Burlingame Area 30 years in Business
Burlingame, CA
| Asking Price: | $1,950,000 |
| Gross Revenue: | $786,596 |
| Established Year: | 1994 |
| Cash Flow: | $550,592 |
| FF&E: | $20,000 |
Listing ID: 2268481Listing provided by BizBuySell
BUSINESS DESCRIPTION
This is one of the Premier Elite Agencies with Allstate Insurance Company. It has a 49% Loss Ratio and 90% Retention. The Staff is highly trained and Manager has been with the Agency over 15 years. The Lease is exvellent at $2000 per month and has 1000 sq. ft. Allstate provides world wide trips for its Agents when they qualify on production. Totally paid for by the Company with spouse also included. Agent is retiring but will totally be involved with training.
DETAILED INFORMATION
Location
Burlingame, CA
Inventory
Included in asking price
Employees
3
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
The agency has been in this location for 30 years and the Lease is automatically renewed each year. It currently is at $2,000 per month and is a triple Net Lease. The Seller is willing to carry a Note for a qualified Buyer.
Competition
Allstate has opened the company underwriting and is now allowing the Agency Force to write Automobile Insurance with no limits on the production. There is also a new compensation plan that allows agents to receive 31% for new business production in Autos and that is predicated on the budget that each agent has and based on the size of his/her Agency. This is a new benefit with the Allstate Insurance Company.
Growth & Expansion
Allstate is a growth oriented company and does not limit its agents on how much they can write in the Casualty Business. There are Underwriting Guidelines that need to me maintained in order for the company to be profitable but each agent knows what they are, receives on going training for Owners and Staff Assoiciates.
Financing
Sell would carrying a Note.
Support & Training
Allstate gives the training for the purchase of an Agency. The current Seller will stay and train for 60days then be available for on going virtual training. The manage is capable of managing the office for extended periods of time. Contact Dale Huffman at 714-928-5138.
Reason for Selling
This Agent has been in business for over 30 years and is retiring
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