Tourism and hospitality may be the major industries in the Sunshine State, but did you know it also has a thriving finance sector? Whether you are looking to take the next big step in your career or want to make a fresh start in a scenic location, investing in one of the insurance businesses for sale in Florida can help you enjoy fantastic returns in no time.
According to the 2021 statistics by IBIS World, the current market size of the finance and insurance industry in the United States is $5.3 trillion. Moreover, the industry has witnessed a 2.8% annual growth in the last five years.
It is also worth mentioning that starting an insurance agency from scratch is not easy and can take several months. Meanwhile, acquiring an existing business can be beneficial in both the short and long term – provided you do it right.
To find out more about Florida insurance businesses for sale, select the area of your choice and click on “insurance” under the business category. You can also contact our licensed brokers for further details.
The dynamic business landscape and streamlined licensing process are among the top reasons most entrepreneurs have decided to set up shop in Florida. Tropical weather, miles of pristine beaches, vibrant coastal lifestyle, championship golf courses, and a host of tourist attractions also add to the appeal of living and working in the Sunshine State.
In other words, owning an insurance agency in this region will make you feel like you are on a year-long vacation.
Those interested in Florida insurance businesses for sale will also be glad to know the state has a $154 billion insurance industry regulated by the Office of Insurance Regulation. In addition, the industry represented 2.9% of Florida’s GDP in 2018. There are presently over 4,000 insurance-related entities operating across the state, showcasing the growth potential of this business.
The state also has a 0% income tax rate, with various cities and counties offering a range of programs to facilitate small, medium, and large enterprises.
Furthermore, since the location of your venture can have a significant impact on its growth potential, our qualified business brokers can help you find the best insurance businesses for sale in Florida with complete confidentiality. On the other hand, if you plan to retire and put up your agency for sale, we can connect you with prospective buyers.
To own an insurance agency in Florida, you must complete state-approved credit hours to earn a pre-licensing certificate. Obtaining this document will allow you to apply for a relevant insurance license through the official website for the Florida Division of Insurance Agent and Agency Services.
The cost of applying for a Florida insurance license is around $55, though the fees may vary with different licenses.
Please note that you may also be eligible for the transfer of license option offered by the department.
If you want to learn more about Florida insurance businesses for sale, make sure to check out the Florida Office of Insurance Regulation.
Meanwhile, you can also look at businesses in these industries: real estate businesses for sale, property management businesses for sale, home inspection businesses for sale, title companies for sale.