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CG048-Somerset-£845,000-Mortgage Broker
| Asking Price: | $1,351,541 | Inventory: | |
| Gross Revenue: | $1,199,725 | Real Estate: | n/a |
| Cash Flow: | Not Disclosed | FF&E: | n/a |
| ++ included in the asking price ** not included in the asking price | |||
Mortgage Broker
Confidentially offered for sale
Ref No: CG048
Location:Somerset
Leasehold
Asking price: £845,000
This company was established in 2001 and since inception it has become one of the
leading Mortgage and Insurance brokerages in the South West, catering for a large and
diverse database of customers located in Somerset, Devon and Dorset. Eighty five per cent of its revenue comes from the sale of mortgage and life assurance products with a further fifteen percent being generated by investment advice.
In spite of recent trading conditions the company has continued to perform well, generating an annual fee income of circa £750,000 with the associated profits being in the region of £200,000 and with Directors salaries in excess of £130,000.
The growth of the business has been based on regular client contact with the majority of customers receiving a bi-annual visit. This policy has resulted in excellent long term relationships, that in turn have generated excellent levels of referrals that result in an average of over twenty new clients every month. The directors consider that there is no other major competitor in the region.
Confidentially offered for sale
Ref No: CG048
Location:Somerset
Leasehold
Asking price: £845,000
This company was established in 2001 and since inception it has become one of the
leading Mortgage and Insurance brokerages in the South West, catering for a large and
diverse database of customers located in Somerset, Devon and Dorset. Eighty five per cent of its revenue comes from the sale of mortgage and life assurance products with a further fifteen percent being generated by investment advice.
In spite of recent trading conditions the company has continued to perform well, generating an annual fee income of circa £750,000 with the associated profits being in the region of £200,000 and with Directors salaries in excess of £130,000.
The growth of the business has been based on regular client contact with the majority of customers receiving a bi-annual visit. This policy has resulted in excellent long term relationships, that in turn have generated excellent levels of referrals that result in an average of over twenty new clients every month. The directors consider that there is no other major competitor in the region.
About the Business
Year Established:2001
Employees:8 full time -
Facilities:The business occupies town centre premises located in a secondary retail area. The offices are on two floors and cover approximately sixteen hundred square feet. Three years of a five year lease remain at an annual cost of £12,000. The lease is renewable.
Market Outlook and Competition:The company has a web site, with the remaining business coming by way of referral.
About the Sale
Management Training and Support:It is likely that one of the directors would be happy to remain with the business, making the purchase a seamless procedure. The existing director will be willing to remain associated with the company on a consultancy basis for an agreed period of time.
Reason For Selling:The founding director has decided to take early retirement and pursue an interest in agriculture.
KEYWORDS: Mortgage Broker Confidentially offered for sale Ref No: CG048 Location:Somerset Leasehold Asking price: £845,000
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