2024 Best Practices Study

Profile

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Average Revenues

$775,280 $824,641

$1,828,110 $1,815,319

$3,795,352 $3,563,292

$7,343,435 $16,125,957 $83,940,913

2023 BPS Average Revenues

$7,054,326

$15,636,043

$75,400,869

Regional Distribution Northeast

10.5% 31.6% 15.8% 42.1%

20.7% 27.6%

13.9% 30.6% 11.1% 27.8% 16.7%

17.6% 17.6% 11.8% 35.3% 17.6%

16.7% 12.5% 18.8% 37.5% 14.6%

16.7% 29.2% 18.8% 20.8% 14.6%

Midwest

West

3.4%

Southeast Southwest

37.9% 10.3%

0.0%

Corporate Structure C Corp

21.1% 57.9%

13.8% 65.5%

22.2% 66.7%

15.7% 54.9%

22.9% 47.9%

27.1% 41.7%

S Corp

Partnership

0.0%

0.0%

0.0%

2.0%

4.2%

2.1%

LLC

15.8%

20.7%

11.1%

27.5%

25.0%

25.0%

Sole Proprietorship

5.3% 0.0%

0.0% 0.0%

0.0% 0.0%

0.0% 0.0%

0.0% 0.0%

0.0% 4.2%

Other

Population Density: Less than 50,000

42.1% 15.8% 36.8%

41.4% 34.5%

58.3% 22.2%

37.3% 31.4% 17.6% 13.7%

18.8% 31.3% 20.8% 29.2%

14.6% 20.8% 33.3% 31.3%

50,000 - 250,000 250,000 - 1,000,000 More than 1,000,000

0.0%

2.8%

5.3%

24.1%

16.7%

Average Number of Agency Locations

1.2

1.4

2.6

2.6

3.9

16.8

Number of Shareholders: Low

1.0 1.4 3.0

1.0 1.8 4.0

1.0 2.3 5.0

1.0 3.5

1.0 6.2

1.0

Average

42.5

High

10.0

19.0

272.0

Profile of Largest Shareholder: Average Age of Largest Shareholder: Low

37.0 57.2 74.0

34.0 52.7 79.0

36.0 58.1 74.0

32.0 55.0 80.0

36.0 54.2 80.0

22.0 56.5 75.0

Average

High

Average Ownership of Largest SH: Low

50.0% 89.3%

33.4% 77.3%

31.3% 64.8%

20.0% 59.5%

11.1% 51.9%

1.9%

Average

35.5%

High

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

What percentage of firms have an ESOP?

0.0%

0.0%

0.0%

2.0%

2.1%

12.5%

What percentage of firms are the branch/subsidiary of another corporation?

0.0%

13.8%

8.3%

11.8%

25.0%

18.8%

Cross Category Comparison

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