Established Bail Bond Business In Los Angeles Area. Free To Pursue Any Courts You Like. The Business Currently Has A Book Of 150 Files Of Past Clients And Also Gets Referrals From 6-7 Attorneys.
Has 1 Agent In Training That Receives Commission Only. Any Bond Over 50,000 Requires Collateral. The Owner Has Had 8 Skips Over His 5 Years In The Business And He Found Them All.
Client Needing Bond Will Pay 10% Upfront.
Of The 10% Bond Fee, 1% Goes To A Buff Account (Your Own Account With Your Insurance Company. You Don't Get This Money Until You Leave The Business. It Earns Interest. It's Protection For The Insurance Company.) 1.7% Goes To The General Agent. So, You Net 7.3% Of The 10% Fee The Client Pays.
As Far As The General Structure, At The "Top" Is An Insurance Company Who Provides The Bond. The Insurance Company Has General Agents, And The Bail Bondsmen Operate Under The General Agent. There Are Individual Bonds For 11,000, 27,000, 55,000, And 105,000. This Agent Can Write Bonds Up To 105,000 Without Approval.
The Agent Physically Needs A Bond To Bail A Client Out Of Jail. The Bond Stays With The Court Until The Client Returns To Court, And That Bond Can Be Used Again. The Amount Of Bonds Outstanding Is A Result Of The Relationship With The General Agent.
The Benefit Of Buying This Business Is That You Start With An Existing Relationship With A General Agent. Starting A New Business You’d Need 50,000 Up Front For Insurance Company. You’d Need To Go Through A Background Check With The Department Of Insurance, And Take A 2 Day Course. When That Is Complete, You Have No Training, And No Money Coming In.
Hours & Staffing
Can Open Offices And Place An Agent On Commission At Van Nuys, Hollywood, Downtown, And Palmdale. It Would Be Recommended To Network The Computer System.
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