4 / 168
2014 Best
Practices Study
Agencies
with
Revenues
Under
$1,250,000
4
Analysis of Agencies with Revenues Under $1,250,000
Key Benchmarks
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Average Total Revenues: $810,333
Population Density of Metropolitan AreasWhere Home Office is Located
Average
+25% Profit
+25% Growth
Less than 50,000
62.1%
42.9%
57.1%
50,000 – 250,000
10.3%
14.3%
14.3%
250,000 – 1,000,000
17.2%
28.6%
14.3%
More than 1,000,000
10.3%
14.3%
14.3%
Corporate Structure
C
17.2%
0.0%
14.3%
S
69.0%
71.4%
71.4%
Partnership
0.0%
0.0%
0.0%
LLC
10.3%
28.6%
14.3%
Sole Proprietorship
3.4%
0.0%
0.0%
Average Number of Agency Locations
(Main Offices and Branch Offices)
1.3
1.0
1.6
Total Square Footage of Office Space
2,818
2,251
1,793
# 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)
2.2
1.7
1.0
High
13.0
Low
1.0
Ownership Percentage
% Owned by Largest Shareholder
75.5%
70.0%
91.7%
High
100.0%
Low
33.3%
Shareholder Age
Current Age of Largest Shareholder
53.0
51.2
46.0
Parent Corporation
Average
Other included Independent
Agency.
% of Agencies Owned by Another Corporation
3.7%
Description of Parent Corporation
Financial Institution
50.0%
National Broker
0.0%
Other
50.0%
Member of Group
% of Agencies Belonging to a Franchise, Cluster,
Alliance/Network or Aggregator Group
41.2%
Other included Continental Insurance Agency Alliance,
SIAA, Consolidated Agencies, ISU, Empire Spectrum
Group, Combined Agents of America, Marketsource,
TIA, Bainswest, and DCS Risk Management Group.
Profile
(of Agencies in this Study Group)