I’m sure many of you have heard that Mercury Insurance Company acquired The Auto Insurance Specialists. This came as quite a shock to many people in the insurance industry. You can read the full article here.

Most businesses that don’t sell, don’t sell because the Business Owners income can’t be verified. If you want to improve the accounting and Financial Reporting for your business or insurance agency, now is the time to prepare. With a few easy steps, you can easily improve your business and we’ve listed them below. Continue reading "Now is the Time to Develop Accounting Procedures for Next Year"

In spite of the slow down in the economy there are still an abundance of buyers looking to purchase insurance agencies and brokerages. Many sellers are reluctant to list their insurance agency for sale because they’re not writing the business they were the past 3 years and think they can get more by riding out the slow down. Continue reading "There are still More Insurance Agency Buyers than Sellers"

When an Insurance Agency owner decides to sell their agency they usually have 3 concerns. How much will I be able to sell my insurance agency for? How will I keep the sale of my Insurance Agency confidential? What time frame can I expect to sell my Insurance Agency? Continue reading "Selling a California Insurance Agency Requires Preparation and Patience"

Regular visitors to our blog will notice the site has been completely redesigned. We went from a blog site to a traditional brochure website. The site is easier for users to navigate when searching for businesses to purchase or researching how to sell their business. Our web consultants R3R designed, created and launched the site last week. Continue reading "New Website Design Launched for Business Buyers and Sellers"

Great article in the insurance journal about Insurance Agents E&O Coverage. From what I read, the rates look excellent. It says they have rates as low as $1,500 which many small agents currently pay a $2,500 minimum. Here’s the full article:

http://www.insurancejournal.com/news/west/2008/10/10/94471.htm

Location: El Segundo, Ca.
Annual Revenue: $65,000
Asking Price: $89,500
Business Description: Coffee Shop

• Established in 1997
• Original Owner
• A+ Location - Excellent Lease, Ample Parking, Signage, Excellent Lay out and Design
• Solid customer destination base of 70%
• New coffee shop with tenant improvements, licensing, inventory, equipment and supplies would cost more than the asking price of this established business.
• All Cash Business
• Lots of growth potential for new owner by adding additional products to sell such as sandwiches, breakfast foods and salads.
• Current owner not taking advantage of the busy corner location where this business resides

Location: El Segundo, Ca.
Annual Revenue: $350,000
Asking Price: $199,000
Business Description: Automotive and Industrial Chemical Coating

• Established in 1999
• A+ Location - Excellent Lease, Ample Parking, Signage, Excellent Lay out and Design
• Numerous Corporate accounts with local Auto Dealers and industrial companies.
• New LINE-X Franchise costs $250,000 to start up, this includes all equipment and client accounts
• Includes over $50,000 in equipment and inventory including a 2002 Pick up truck customized with the Line-X Logo.
• Line-X provides excellent training and support and has been recognized in Inc 500 and Entrepreneur Magazine.
• A Market leader in truck and industrial coating.
• Several Franchise Awards
• Priced to Sell
• Read more about the Line-X Franchise Here

We receive multiple calls and emails weekly from business owners asking how to hire a business broker. Another question we hear a lot of is; what are the costs associated with hiring a business broker?  Can I hire a business broker if I’m buying a business? What are the other advantages of hiring a business broker? This post will answer each of these questions so you can better understand the advantages of hiring a licensed professional business broker. Continue reading "Use a California Business Broker when Buying or Selling a Business"

Agencies that sell nothing but Auto Insurance are going to have a difficult time over the next few years if they don’t diversify their product offering. Brokers too dependent on Broker Fees or that sell one product (auto) will have a difficult time competing if they’re not already. Continue reading "Sell Additional Lines to Increase Insurance Agency Revenues"