Insurance Brokers for sale in Oxfordshire | Bizdaq
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Insurance Company For Sale - Unique, Well Established, Profitable With Huge Growth Potential

Oxford, Oxfordshire

Asking Price £195,000 (or open to offers)
Turnover £148,101
Reference BIZ7346

Business overview

Unique opportunity to own a business which operates as an Appointed Representative for Clegg Gifford who have acquired status as a Lloyd's Broker.

Business details

  • Property type
  • Net profit
  • Accommodation
  • Staff
  • Property
  • Reason for sale

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Business description

Westminster Insurance has been established for 70 years, with a wealth of experience, knowledge and range of product offerings. Clegg Gifford who have been established since 1968 and later acquired status as a Lloyd’s Broker. They then purchased Westminster Insurance in 2014 which included the network of appointed representatives – which is what we are.

As opposed to independent insurance brokers all the regulatory aspects are dealt with by the broker Clegg Gifford, leaving the appointed representative to focus on building their company and portfolio of clients. In previous years Westminster Oxford has obtained gross annual earnings that were much higher, there is huge scope for growth with massive returns if the hard work is put into it. Westminster Insurance itself, has been established for 70 years, therefore with a wealth of knowledge, experience and support behind them.

We offer a range of insurance products across commercial, including industries such as, Taxi, Shop's, Hairdressers, Pub's, Restaurant's, Hotel's, Spa's. Along with products including, Public Liability, Public Indemnity, Stock & Contents and more. The majority of our clients at present are Taxi's therefore creating scope to target commercial businesses across the UK.

This opportunity would be well suited to someone who is already within the insurance industry who wants to take on a challenge or run their own business with no restriction on earnings. I myself had not owned a business previously, I also did not work within the Insurance Industry, therefore, it is possible for the job to be learnt if the time is put in (training can be discussed). I would suggest that the only skills required to manage this business successfully would be; good math skills, excellent written English and grammar, strong interpersonal skills, communication skills and a professional confident telephone manner. If you have the eagerness to learn what it takes to run this business you will go far.

Operating hours:
9:00am - 5:00pm Mon to Fri.

In terms of what an average day would look like working within this business, the duties include:
- Renewal Invites
- Processing Successful Renewals
- New Business Quotes
- Mid Term changes on all provided policies
- Handling all phone calls

There is incredible room for growth in this already thriving business, particularly with developing the commercial side of the business where returns are higher and more rewarding. Currently, we do not actively market the business as we have had plenty of custom from word of mouth alone and I am operating the business by myself. Should you be looking at expanding or initially running the business with a partner with a view to employing staff - you could easily double the workload quickly by investing in paid SEO services, optimising the website and updating our social media pages with more constant and relevant content to grow those audiences. You could also make efforts to reach out or visit local businesses to speak with potential new clients and increase the client base that way.

I am happy to provide a transition period to ensure the new owner has been given everything they will need to continue bringing in the fantastic profits this business achieves (Over £100k per annum) and expand it to the level I know it can reach with time and the vision to scale.

Please get in touch to discuss this rare opportunity further.

Business location

The business is relocatable, ideally would be located in the Oxfordshire area. This could be a home based business if you'd like it to be.

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