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2013 Best

Practices Study

Agencies

with Revenues

Between

$2,500,000 and

$5,000,000

79

Analysis of Agencies with Revenues Between $2,500,000 and $5,000,000

Key Benchmarks

Mgmt. Perspectives

Profile

Revenues

Expenses

Profitability

Employee Overview

Producer Info

Service Staff Info

Technology

Insurance Carriers

Appendix

Expenses

(as % of Net Revenues)

Average

+25% Profit

+25% Growth

Compensation Expenses

Payroll: Employee

49.0%

42.2%

50.8%

Payroll: “Non-Employee” - 1099 Producers/Temp Help

2.4%

1.2%

4.1%

Total Payroll

51.3%

43.4%

55.0%

Benefits: Payroll Taxes

3.4%

3.0%

3.2%

Benefits: Retirement

1.5%

1.5%

2.1%

Benefits: Insurance

3.3%

2.7%

3.0%

Benefits: Other

0.1%

0.0%

0.1%

Total Benefits

8.3%

7.2%

8.5%

Total Compensation

59.6%

50.6%

63.4%

Selling Expenses

T&E/Conventions

1.2%

0.7%

1.0%

Auto Expenditures

0.9%

0.4%

0.8%

Auto Depreciation

0.1%

0.0%

0.2%

Total Auto

1.1%

0.4%

1.0%

Advertising/Promotions

1.4%

1.1%

0.6%

Total Selling

3.7%

2.3%

2.6%

Operating Expenses

Occupancy Expenditures

4.1%

2.7%

3.8%

Occupancy Depreciation/Amortization

0.3%

0.4%

0.2%

Total Occupancy

4.3%

3.1%

4.1%

Office Equipment Expenditures

0.3%

0.3%

0.2%

Office Equipment Depreciation

0.6%

0.1%

0.1%

Total Office Equipment

0.9%

0.4%

0.3%

IT (Information Technology)

1.9%

1.8%

1.7%

IT Depreciation/Amortization

0.3%

0.1%

0.1%

Total IT

2.1%

1.9%

1.7%

Telephone

0.7%

0.8%

0.5%

Postage

0.4%

0.5%

0.4%

Supplies/Printing

1.1%

0.9%

0.9%

Dues/Subscriptions/Contributions

0.9%

0.7%

0.9%

Taxes/Licenses

0.5%

0.2%

0.3%

Insurance

1.6%

1.4%

1.6%

Professional Fees

0.8%

0.5%

0.8%

Bad Debts

0.1%

0.1%

0.1%

Outside Services

0.8%

0.3%

0.6%

Education/Training

0.4%

0.3%

0.3%

Miscellaneous

0.5%

0.3%

0.5%

Total Operating

15.1%

11.2%

12.9%

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