Status: Sold
Adjusting Business is a cashflow machine - Listing #: 54582
| Category | : | Insurance | SIC | : | 6411 | |
| Detail | : | Insurance Adjusters | Price | : | 6,000,000 | |
| County | : | Collier | Down | : | 1,200,000 | |
| State/Prov | : | Florida | Disc Earn | : | 1,930,892 | |
| Country | : | USA | Sales | : | 4,325,388 |
|
If you want a fast-growing business with huge profits without having to manage a lot of assets this is the one! Customers need the help to get their Insurance Company to approve and pay their claims. The owner uses public adjusters which are all 1099 employees to manage thousands of claims each year. The business is spilt with storm related claims and non-hurricane related claims. The adjusters also travel to Texas, the gulf coast states and the Carolinas to adjust claims there as well. Commission is 10% on storm related claims and 20% on non-storm claims. |
| Reason for Sale | : | Other Business Interests |
| General Location | : | S.W. Florida |
| Organization Type | : | Corp 'Sub S' Hours Owner Works: 40 |
| : | Years Established: 6 Years Owned: 3 Emp FT: 12 Emp PT: 0 Mgrs: 1 | |
| Non Compete | : | Miles: 5 Years: 300 Weeks Training: 4 Cost: $0 |
| Operating dys/hrs | : | Monday-Friday 9:00am - 5:00pm |
| Skills/Licenses | : | 3-20 Public Adjuster License |
| Business | : | Is Relocatable: Y Is Home Based: Y Is a Franchise: N Is Lender P/Q: Y Should Qualify For Visa: Y |
| Data Source | P/L Statement | |||
| Year (Cash Flow) | 2023 (N) | (N) | (N) | |
| Gross Revenue | 4,325,388 | 0 | 0 | |
| Cost of Goods | 0 | 0 | 0 | |
| Gross Profit | 4,325,388 | 0 | 0 | |
| Expenses | 2,362,263 | 0 | 0 | |
| Net | 1,963,125 | 0 | 0 | |
| Owner Salary | 0 | 0 | 0 | |
| Benefits | 0 | 0 | 0 | |
| Interest Expense | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other | -32,233 | 0 | 0 | |
| Discretionary Earnings | 1,930,892 | 0 | 0 |
| Accounts Rec | 0 | N* | Real Estate | 240,000 | A* |
| Inventory | 0 | N* | ___________ | 0 | N* |
| F F & E | 0 | N* | Total Assets | 0 | N* |
| Leasehold | 0 | N* | |||
| *Included? |
| Lease/Month: 60000 | Square Footage: 1144 | Building Type: Commercial Condo |
| Terms & Options: New long-term lease avail | Expiration Date: 2/24/2034 |
| Lender Pre-Qualified Project Summary |
| Acquisition Costs | Down Payment and Financing |
| Purchase Price | 6,000,000 | Down Payment | 1,200,000 | |
| Working Capital | 50,000 | Loan/Assumable | 0 | |
| Loan Fees | 140,000 | Loan/Seller | 0 | |
| Closing Costs | 10,000 | Loan/Other | 5,000,000 | |
| Total | 6,200,000 | Total | 6,200,000 |
| Loan/Assumable | - Amt: | 0 Mos: | 0 Rate: | 0.00 Mo Pmt: | 0.00 | |
| Loan/Seller | - Amt: | 0 Mos: | 0 Rate: | 0.00 Mo Pmt: | 0.00 | |
| Loan/Other | - Amt: | 5,000,000 Mos: | 120 Rate: | 11.00 Mo Pmt: | 68,875.01 |