MergerPlace

Profitable Insurance Claims

Florida


  • Asking Price: $1,695,000
  • Gross Income: $1,486,131
  • Cash Flow: $425,849
  • Real Estate: Not Disclosed
  • Inventory: $5,000
  • FF&E: $25,000
  • Listing ID: #223809
  • Established: 1961
  • Employees: 7 FT / 2 PT

Business Description

This company handles the investigations of insurance claims on behalf of the insurance companies and self-insureds and has been doing so successfully for the past 60 years. This firm is a family-owned independent adjusting firm started in 1961. It has a management team in place, which allows the owner to travel. They handle hundreds of 1st & 3rd party auto, property & general liability claims per year for both large and small clients. They also do appraisals, mediation's, etc. They pride themselves on the consistent, quality, timely, and personal service they provide. This firm is a perfect acquisition target for a competing firm, a TPA or an insurance company that wants to bring operations in-house. Pre-approved by several reputable lenders.


Business Details

Primary Business Category: Finance - Insurance Carriers & Related
Location: Florida

Company Information

Year Established: 1961
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 7 FT / 2 PT

Financial Information

Asking Price: $1,695,000
Gross Revenue: $1,486,131
Cash Flow: $425,849
FF&E: $25,000
Inventory: $5,000
Seller Financing Available: No

Property Information

Facilities:

The company currently leases 1,886 sq ft of office space. However with the Pandemic they have gradually and successfully switched their operations online and currently most of their employees work from home. The financials have been recasted with the buyer having an office-on-demand presence at a much lower rent rate, if necessary.

Growth & expansion opportunities:

Great potential for growth as this company's business grows along with the growth of the insurance companies they represent. There are more cars on the streets, more boats on the water, more general liability claims than ever and this firm is in the sweet spot of things. A buyer who can utilize social media effectively to drum up more business is going to be even more successful.

Competition:

There may be other claims adjustment companies out there but one will be hard-pressed to find one with the longevity in business (60 years), well-established book of clients, commitment to excellence and attention to the bottom line both of their clients as well as their own - as our client.

Reason for selling:

The seller has decided to retire after 35 years at the helm and wants to pass the baton to an individual or entity that will carry on his legacy and will take the business to new heights.

Support & Training:

Will train for 4 weeks @ no cost All of their adjusters are fully licensed "all-lines" adjusters in the State of Florida. They have a licensed private investigator/security officer along with auto and property appraisers, and a notary public. Their management team personally reviews adjusters' work product to ensure it meets both their standards and their clients' assignment requirements. Some of the services they offer include: 1st & 3rd party automobile claims (personal business/commercial, garage, etc.) 1st & 3rd party property claims (including construction defects) General liability (GL) claims (including slip-and-fall, premises, underground utilities, etc.) Investigations and background checks Appraisals (both auto and property) Settlement negotiation Mediation attendance & trial monitoring

Contact Business Seller

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Business Listed By:

Anton Joro

Murphy Business Brokers