17671 – Profitable Mortgage Firm with Streamlined Operations!
ServiceFor Sale in AZ
Financial & Assets Details
About the Business
From Yavapai county in Arizona, this residential mortgage broker has a thriving local presence with near perfect ratings! From FHA to Fannie Mae and VA Loans to refinancing and reverse mortgages, this reputable business covers all aspects of residential loans. In addition, there’s plenty of growth opportunities for the new owner! The seller has numerous ideas including increasing commercial lending efforts, adding additional billboards and more Realtor relationships and expanding their focus beyond the Greater Prescott area. The Branch Manager will be staying on, as will the third-party processor while the seller will be available for consulting. Additional employees would allow the new owner to take advantage of the growing population. The seller has maintained consistent growth and the new owner has numerous ways to accelerate the growth rate if desired. The prime highway frontage location has an open ended lease. Current marketing resources include their user friendly website and print ads. With a well earned reputation for honesty and hard-to-beat pricing, the local community greatly appreciates the face-to-face meetings and the ability to deliver sensitive information directly to the office. Based on an independent evaluation, profit margins are over 50% with gross sales over $533,000 and Discretionary Earnings around $288,000 in 2019. With 2020 revenues projected to outpace 2019 by 6.5%, this business is well positioned for an ambitious buyer who wants to take a company to the next level!
Financing can be negotiable for the appropriate buyer.
Support & Training
Owner Transition for a couple of months as a consultant.
Reason for Selling:
Approaching retirement and/or pursuing other interests.