Farmers Insurance Agency in South Alabama - Near Gulf Coast Beaches

Escambia County, AL
listing image
Asking Price:$180,000
FF&E:$3,800
Rent:$600/Month
Established Year:1999
BUSINESS DESCRIPTION

Farmers Insurance Agency in South Alabama with easy access to Interstate-65, approximately 50 miles from Gulf Beaches and 32 miles from the highly desirable Eastern Shore of Mobile Bay. The agency has built a quality reputation in the community after more than 20 years of service with the current agent having been in place since 2016. The agency added mortgage origination services through Rocket Mortgage in 2020. This agency has a history of consistent annual growth and profitability coupled with above average retention which makes it a great value for both seasoned agents and new-comers to the industry alike.

Located in the heart of downtown within walking distance to shopping, dining, and banking, this street-front agency is staffed and fully furnished. The building is equipped with high-speed internet and a VOIP phone system. Street parking and a dedicated rear parking lot make accessing the office convenient for staff and clients.

From healthy salads to award-winning beef, the area is host to dining known across the Southeast for it's southern hospitality, unique menus, and excellent quality. Along with dining experiences, the historic downtown offers opportunities to shop in locally owned boutiques, antique shops, and thrift stores. Designated a Main Street Alabama community in 2020, the community's commitment to the revitalization of the historic downtown is evidenced through community funded projects such as the total restoration of the historic theater and adjacent hardware store. The community's fundraising efforts allowed the historic theater to be brought back to life as a functioning movie theater as well as an event space, recording studio, and dance studio. For those who enjoy the outdoors, white sand beaches, recreational watersports, hiking, fishing, scuba diving, snorkeling, hunting, camping, and horseback riding are all within an hour-drive. Sports fans delight in the proximity to semi-professional baseball, hockey, and soccer. Public and private schools, multiple local colleges and universities provide access to quality education and enrichment through science and the arts.

There is an influx of new industry moving to the area providing high-paying, skilled jobs. This fact together with the ongoing revitalization efforts of the community and high standard of living enjoyed by area residents will ensure economic growth opportunities for years to come.

Why Farmers?
*Professional coaching that can help you grow your business
*Award-winning University of Farmers training
*The ability to be your own boss and run a business
*The opportunity to build a legacy that can be carried over to your family or sold to a future entrepreneur like you
*Ready-to-go agency advertising packages
*Represent one of America's most recognized Fortune 500 brands
*Potential bonus opportunities for qualified agency owners (i.e. Signing Bonus, Exterior Branding Bonus, & Monthly and Annual Bonus)
*With over 90 years of experience and best-in-class training, Farmers representatives have the knowledge to help you start up an independent business you can proudly call your own.


DETAILED INFORMATION
Location
Escambia County, AL
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
1,195
Lease Expiration
31/12/2024
Employees
1
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
All furnishing and equipment included. Detailed list can be provided upon request.
Competition
This agency has policies in 16 counties and is the sole Farmers Insurance agency dedicated to serving customers in a 6 county area. Farmers Insurance is a Top 10 P&C insurer in Alabama. Under Farmers's semi-captive agency model, agents are provided the ability to utilize additional carriers when applicable giving Farmers agencies a clear, competitive advantage over captive insurance agencies. There are few brick and mortar insurance agencies in the area. Primary competition comes from policies purchased/serviced online without direct agency support.
Growth & Expansion
With primary competition being online direct-to-consumer carriers, investing in digital advertising to recoup the portion of the market share lost to online sales should prove advantageous. The majority of area agencies do not focus advertising dollars on the digital space. New industry moving into the area bringing high-paying, skilled labor jobs. Adding second staff member would provide outbound sales coverage for growing book of business. Above average retention rates demonstrate track record of excellent customer service and customer loyalty.
Support & Training
Available on an as-needed basis, for support and training for a period of one year from the date of closing. Details to be negotiated prior to the date of closing.
Reason for Selling
Owner is advancing in the industry. The original 5-year business plan was to gai
Report an Issue with this listing
Anna MarieGilchrist
Anna Marie Gilchrist