2023 Best Practices Study

Profile

AGENCIES WITH REVENUES OF:

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

Average Revenues

$824,641

$1,815,319

$3,563,292

$7,054,326 $15,636,043 $75,400,869

2022 BPS Average Revenues

$781,136

$1,845,007

$3,608,575

$7,198,846 $15,844,262 $78,877,265

Regional Distribution Northeast

18.2%

22.6%

9.3%

17.9%

20.8%

13.0%

Midwest

27.3%

25.8%

27.9%

23.2%

9.4%

30.4%

West

9.1%

6.5%

9.3%

12.5%

18.9%

19.6%

Southeast

40.9%

38.7%

39.5%

30.4%

35.8%

26.1%

Southwest

4.5%

6.5%

14.0%

16.1%

15.1%

10.9%

Corporate Structure C Corp

18.2%

12.9%

23.3%

16.1%

20.4%

27.7%

S Corp

59.1%

61.3%

67.4%

50.0%

50.0%

44.7%

Partnership

0.0%

0.0%

0.0%

1.8%

3.7%

0.0%

LLC

18.2%

25.8%

9.3%

30.4%

25.9%

23.4%

Sole Proprietorship

4.5%

0.0%

0.0%

0.0%

0.0%

0.0%

Other

0.0%

0.0%

0.0%

1.8%

0.0%

4.3%

Population Density: Less than 50,000

40.9%

51.6%

46.5%

30.4%

18.5%

14.9%

50,000 - 250,000

27.3%

29.0%

30.2%

30.4%

25.9%

23.4%

250,000 - 1,000,000

18.2%

6.5%

4.7%

21.4%

25.9%

27.7%

More than 1,000,000

13.6%

12.9%

18.6%

17.9%

29.6%

34.0%

Average Number of Agency Locations

1.2

1.5

2.3

2.5

4.4

15.9

Number of Shareholders: Low

1.0

1.0

1.0

1.0

1.0

1.0

Average

1.5

2.0

2.6

5.6

6.1

41.3

High

3.0

9.0

6.0

60.0

29.0

265.0

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

37.0

26.0

31.0

39.0

35.0

31.0

Average

58.7

48.2

55.9

54.1

57.7

56.2

High

78.0

66.0

72.0

78.0

80.0

74.0

Average Ownership of Largest SH: Low

50.0%

11.1%

25.0%

11.0%

12.5%

1.9%

Average

84.6%

79.8%

62.0%

57.9%

51.1%

36.2%

High

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

What percentage of firms have an ESOP?

0.0%

3.2%

0.0%

5.4%

0.0%

19.1%

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

4.5%

22.6%

11.6%

10.7%

20.4%

17.0%

Cross Category Comparison

41