30 / 168
2014 Best
Practices Study
Agencies
with Revenues
Between
$1,250,000 and
$2,500,000
30
Analysis of Agencies with Revenues Between $1,250,000 and $2,500,000
Key Benchmarks
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Average Total Revenues: $1,879,106
Population Density of Metropolitan AreasWhere Home Office is Located
Average
+25% Profit
+25% Growth
Less than 50,000
35.7%
16.7%
50.0%
50,000 – 250,000
28.6%
50.0%
16.7%
250,000 – 1,000,000
10.7%
16.7%
0.0%
More than 1,000,000
25.0%
16.7%
33.3%
Corporate Structure
C
32.1%
33.3%
16.7%
S
42.9%
33.3%
16.7%
Partnership
0.0%
0.0%
0.0%
LLC
25.0%
33.3%
66.7%
Sole Proprietorship
0.0%
0.0%
0.0%
Average Number of Agency Locations
(Main Offices and Branch Offices)
1.8
2.0
2.2
Total Square Footage of Office Space
5,154
4,433
6,040
# of States in which Offices are Located
1.0
1.0
1.0
Agency has an ESOP
0.0%
0.0%
0.0%
% of Stock Owned by ESOP
0.0%
0.0%
0.0%
Shareholders
Number of Shareholders (excluding ESOP)
2.1
1.6
1.8
High
6.0
Low
1.0
Ownership Percentage
% Owned by Largest Shareholder
77.4%
77.7%
83.7%
High
100.0%
Low
47.0%
Shareholder Age
Current Age of Largest Shareholder
51.9
53.5
44.8
Parent Corporation
Average
% of Agencies Owned by Another Corporation
3.7%
Description of Parent Corporation
Financial Institution
100.0%
National Broker
0.0%
Other
0.0%
Member of Group
% of Agencies Belonging to a Franchise, Cluster,
Alliance/Network or Aggregator Group
53.6%
Other included The Iroquois Group, Georgia Agency
Partners, Inc., North American Insurance Brokers,
Select Prism, Combined Agents of America, Memphis
Insurance Group, and Secure Risk/Shared Agency
Services.
Profile
(of Agencies in this Study Group)