40 Year Old Progressive Book For Sale

Chesterfield, MI (Macomb County)

40 Year Old Progressive Book For Sale
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Asking Price: N/A

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: N/A

Established: 1974

40 Year Old Progressive Book For Sale

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Business Description

40 Year Old Progressive Book For Sale

This is a 45 year old agency in Chesterfield Twp.
I have represented Progressive Insurance for the past 40+ years.

12 month moving averages as of month end October 2019:

Written Premium = $956,697 (4% growth over past year)
2016-2019 Auto Loss Ratio = 38.51%
The Mix of Business:
Personal Auto Policies = 319 @ $838,045 (87.5%) (77% Retention)
Commercial Auto Policies = ? @ $39,166 (4.3%)
Motorcycle Policies = 127 @ $52,257 (5.4%)
Boat & RV Policies = 80 @ $27,229 (2.8%)
*Written Total = 529 @ $956,697
* The Total "Written Premium" (except Boat, Snowmobile & Trailers)
include the MCCA & State Recoup Assess which pay no commissions.

12 month moving Annual Commission = $78,914
12 month moving average = $6,576/month
The book is at "Tier 3" commission levels currently.
Year to date commission rate is 9.7%

Sale Price Is: $200,000
Based on $6,576/mo you would recoup your investment in 2.6 years !
Please note: This is a "Cash" sale. Any offer based on a payment plan of any kind will not be considered.

Detailed Information

Location:
Chesterfield, MI
Real Estate:
Owned
Building SF:
N/A
Facilities:
My furnished office building is also for sale (separate offer - land contract). For details contact Susan Blanchard @ Anton, Sowerby & Asso: Phone: 586-469-8888, Cell 586-918-1956, Fax 586-469-3049
Growth & Expansion:
Chesterfield is a dynamic growth area by any measure imaginable. Median home price @ $295000 with new subdivisions and commercial developments sprouting up all around.
Reason for Selling:
Health/Retirement
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Business Listed By:
John Kozak

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