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Domain

allstate.com


Number of Technologies

275

Founded Year

1931


Number of Contacts

20,376

Alexa Rank

9,254


Number of Job Postings

90

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About allstate.com

You are investing into the acquisition of an established Allstate insurance agency located in midtown Atlanta, GA. The purchase price is $1,445,000. Last year's gross earnings were $829,960. The sale price is for a partial sale of the book of business. The expected gross earnings for 2015 are $733,450. The loan has already been approved by the bank, and Allstate corporate has given the green light to close and take over the agency June 1st, 2015. The loan is contingent on a $50,000 down payment from the buyer. The President has already made a good faith payment of $5,000 when he signed the purchase agreement. He is now seeking investors for the $45,000. This will leave him with the capital reserves necessary to insure a smooth takeover. As part of the negotiation, the seller agreed to continue paying for the operating expenses of the business until the first Allstate commission payment comes in, about 6 weeks after the takeover. The seller has also agreed to transfer the security deposit on the office lease. There is no security deposit for the utilities. The bank is lending $1,125,000 for 10 years at 7.25% and the seller is holding a note for $300,000 for 10 years at 7.25%. Your initial investment capital will be returned in the first 12 months. You will receive profit sharing dividend payments quarterly based on the equity you own (3.1%). The cash flow projections expect a profit of $332,650 in the first year. Your approximate quarterly dividend payments should be about $2,578. Additionally, You will be able to cash out of your equity after 12 months.

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