Top Independent Agency Loyal Asian-Speaking Clientele
Business Description
Top Independent Agency Loyal Asian-Speaking Clientele
This 17-year-old commercial-focused agency was started by an ambitious individual looking to serve the San Gabriel Valley’s large Chinese and Vietnamese community by joining a cluster (Access Pro Alliance Insurance Services) to overcome challenges to work with top carriers and steadily grow the company. Today the agency brings in premiums of over $6,500,000 via more than 2,200 policies, and over $700,000 in annual commissions and fees.
Personal Lines account for 65% of policies.
Commercial Lines account for 32% of policies
Health and Life Policies account for the remaining 3% of policies.
The book continues to grow thanks to a 50% client referral rate. The Chinese Yellow Pages brings in another 20% of new business while local realtors and loan agent referrals account for another 30%. Buyers can continue to work with the cluster if they choose, but the agreement is no longer enforced.
The CRM System is QQ Catalyst and the agency uses FSC Rater for quotes.
One full-time CSR and one part-time CSR – who are both multi-lingual – are valued for their language skills and customer service abilities.
Buyer Qualifications: Potential Buyers must be fluent in Chinese, Mandarin, Cantonese, and Vietnamese. Only brokers with direct appointments to Mercury and primary carriers will be considered.
NDA is required to secure the comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
Personal Lines account for 65% of policies.
Commercial Lines account for 32% of policies
Health and Life Policies account for the remaining 3% of policies.
The book continues to grow thanks to a 50% client referral rate. The Chinese Yellow Pages brings in another 20% of new business while local realtors and loan agent referrals account for another 30%. Buyers can continue to work with the cluster if they choose, but the agreement is no longer enforced.
The CRM System is QQ Catalyst and the agency uses FSC Rater for quotes.
One full-time CSR and one part-time CSR – who are both multi-lingual – are valued for their language skills and customer service abilities.
Buyer Qualifications: Potential Buyers must be fluent in Chinese, Mandarin, Cantonese, and Vietnamese. Only brokers with direct appointments to Mercury and primary carriers will be considered.
NDA is required to secure the comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
About the Business
- Years in Operation
- 18
- Employees
- 4
- Facilities & Assets
- The agency operates from a storefront, renting 800 square feet for $1,500 a month.
- Market Outlook / Competition
- Insurance is competitive, but the ability to speak the client’s native language provides clear short and long-term advantages.
- Opportunities for Growth
- 1. Hire additional staff to support sales and cross-sales.
2. Expand digital marketing and online presence.
3. Increase focus on commercial accounts.
About the Sale
- Seller Motivation
- The founder is ready to retire.
- Transition Support
- To ensure a smooth transition and ongoing success the Sellers will work with a Buyer to determine what support is needed.
- Financing Options
- TBD if the structure and terms are acceptable.
Listing Info
- ID
- 2303941
- Listing Views
- 1964
Listing ID: 2303941 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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