Insurance Agencies and Brokerages Revenue Benchmarks

How much does the average insurance agencies and brokerages business make? Here are revenue benchmarks based on Census Bureau data.

Average Revenue

$1.7M

per year

💰

Profit Margin

15.0%

industry average

📈

Revenue / Employee

$269K

per year

👤

Total Businesses

122,552

in the US

🏢

Est. Owner Income

$253K

small business avg

💵

Labor Cost

30.0%

of revenue

👥

Avg Employee Wage

$99K

per year (BLS)

💼

Market Saturation

37.0

firms per 100K people

🎯

💰 Average Revenue by Business Size

1-4 employees
$290K
5-9 employees
$1.1M
10-19 employees
$2.8M
20-99 employees
$9.6M
100-499 employees
$43.4M
500+ employees
$257.6M

🏆 Highest Revenue States

1.Massachusetts$3.2M avg2.New Jersey$2.9M avg3.New York$2.8M avg4.Vermont$2.5M avg5.Connecticut$2.5M avg6.New Hampshire$2.4M avg7.Rhode Island$2.2M avg8.Pennsylvania$2.2M avg9.Maine$2.1M avg10.Maryland$2.0M avg

📊 Industry Dynamics (Census BDS 2023)

New Business Rate

8.92%

openings/year

Closure Rate

9.79%

closings/year

Net Job Growth

+2.86%

annual

Businesses Closed

9,959

in 2023

Firm Count Trend

19
20
21
22
23
118,486 firms114,626 firms

💡 Should You Start a Insurance Agencies and Brokerages Business?

Startup Cost

$50K – $250K

Break-Even

7 months

5-Year Survival Rate

50.0%

🆚 Related Industries

Portfolio Management$15.3MInvestment Advice$2.6MMiscellaneous Intermediation$4.2MMortgage and Nonmortgage Loan Brokers$3.3MSecurities Brokerage$31.8M

Compare Insurance Agencies and Brokerages revenue with other industries:

vs Portfoliovs Investmentvs Miscellaneous