2022 Best Practices Study

Profile

AGENCIES WITH REVENUES OF:

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

Average Revenues

$781,136 $908,048

$1,845,007 $1,815,885

$3,608,575 $3,687,292

$7,198,846 $15,844,262 $78,877,265 $7,289,517 $15,857,832 $62,554,525

2021 BPS Average Revenues

Regional Distribution Northeast

12.9% 19.4% 16.1% 45.2%

30.0% 30.0%

9.8%

18.2% 16.4% 14.5% 32.7% 18.2%

23.3% 11.7% 16.7% 33.3% 15.0%

22.2% 35.6% 15.6% 17.8%

Midwest

27.9%

West

3.3%

8.2%

Southeast Southwest

26.7% 10.0%

37.7% 16.4%

6.5%

8.9%

Corporate Structure C Corp

9.7%

20.0% 56.7%

15.0% 61.7%

16.4% 54.5%

26.7% 48.3%

29.5% 50.0%

S Corp

71.0%

Partnership

0.0%

0.0%

1.7%

5.5%

3.3%

0.0%

LLC

12.9%

23.3%

21.7%

23.6%

21.7%

18.2%

Sole Proprietorship

6.5% 0.0%

0.0% 0.0%

0.0% 0.0%

0.0% 0.0%

0.0% 0.0%

0.0% 2.3%

Other

Population Density: Less than 50,000

45.2% 25.8% 12.9% 16.1%

50.0% 33.3%

36.7% 35.0%

32.7% 25.5% 16.4% 25.5%

26.7% 23.3% 20.0% 30.0%

13.6% 18.2% 36.4% 31.8%

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

6.7%

8.3%

10.0%

20.0%

Average Number of Agency Locations

1.2

2.3

2.4

2.4

4.8

13.8

Number of Shareholders: Low

1.0 1.5 3.0

1.0 2.0 9.0

1.0 3.3

1.0 3.6

1.0 6.2

1.0

Average

28.8

High

25.0

11.0

25.0

239.0

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

36.0 57.5 82.0

31.0 54.0 77.0

39.0 59.9 79.0

35.0 60.2 84.0

41.0 62.8 84.0

32.0 61.7 83.0

Average

High

Average Ownership of Largest SH: Low

40.0% 85.5%

11.2% 76.9%

25.0% 65.3%

17.0% 59.2%

12.5% 56.4%

1.9%

Average

38.1%

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%

3.9%

2.0%

28.2%

WASA

54.8

50.8

54.1

51.0

55.0

52.5

Cross Category Comparison

45