Business for Sale in Greater Cincinnati

The business offered for sale is a Cincinnati mortgage brokerage business (a mortgage broker acts as an intermediary between the buyer and the lender).  The company was started over a decade ago and has been profitable every year since.

In its peak years the company was originating well over $100,000,000 in loans per year.  With the downturn in the housing market, the owner scaled back the operations in 2006 to basically just herself and a loan processor.  Still highly profitable since 2006 (placing approximately $30,000,000 in loans each year), the business continues to flourish even in the current depressed housing market.

The company generates almost all of its business through prior customers and referrals.  No advertising or marketing is done.  The company has an affluent customer base with its average loan in excess of $300,000 – more than twice the industry average.  The company has over 1,000 prior customers (mostly high net worth individuals), a majority who are still “active” with outstanding loans.

Results for 2010 continue to be strong, but the owner is ready to retire and enjoy seeing more of her children and grandchildren.  Depending upon the needs of the buyer, a transition period for up to nine months on a declining number of hours per week is possible. 

The licensing to become a mortgage broker is relatively easy to obtain.  A buyer does not need to be currently licensed or from the industry.  Ultimately, success in this business results from providing excellent service and fairness to its customers.  This company has a superior reputation and a great customer base - that should allow any buyer who has those qualities to be successful.

INVESTMENT HIGHLIGHTS:

·         - Simple and easy to operate

·         - A highly successful business since its inception

·         - Excellent profitability

·         - The owner is willing to remain for a number of months to allow a buyer (not from the industry)

         to get licensed and to provide a seamless transition

·         - A great opportunity for a financial services or accounting firm to add a new service for its clients

The seller is open to a reasonable downpayment and then providing seller financing and/or some type of “earn-out” based upon future revenues.

PURCHASE PRICE:

The business is offered at $425,000 free and clear of debt.   

FINANCIAL:

ACF: Net income before expenses of interest, depreciation, owner salary/perks.                      

FOR FURTHER INFORMATION CONTACT:

KEATE PARTNERS

7783A Five Mile Road

Huntington Bank Building

Cincinnati, OH 45230

(513) 241-3700  Fax (513) 852-8325

www.keatepartners.com