Profitable Insurance Agency In Miami

Business Description: This a family-owned franchisee of a well known regional insurance franchise, located in Miami, Florida. Established in 2013, the business specializes in personal and commercial auto insurance, homeowner, rental, and commercial insurance. Situated on a heavily trafficked street, the majority of their business is conducted via phone. They offer policies from most major insurance lines.

Operations: The business operates from a 950 square foot office with a team of five employees, including the owners. All staff members are cross-trained to handle various responsibilities and are fluent in Spanish, catering to the predominantly Spanish-speaking clientele. The owner has implemented a systematic approach to operations, from quoting to binding and retaining customers, resulting in a high client retention rate of over 86%. This system has also lessened the owner’s involvement in daily activities.

Financial Performance: The business writes over $8 million in premiums annually, with net commissions of approximately $600,000 after franchisor fees. The business is designed to be turnkey for a new operator, with robust internal controls and technology software for accounting, marketing, and the insurance agreement process. The business is financeable.

Licensing and Transition: A 220 general lines insurance license is required to operate the business. The sellers will remain as qualifiers for six months to assist the new owner in obtaining their license. Franchise fees are paid for the next nine years, ensuring continuity and stability.