Insurance Agencies and Brokerages in Michigan
Revenue benchmarks for insurance agencies and brokerages businesses operating in Michigan.
#14 of 50 states+11.0% vs national avg
Average Revenue
$1.9M
per year
Businesses
3,478
in Michigan
Revenue / Employee
$244K
per year
Labor Cost
30.0%
of revenue
Profit Margin
15.0%
industry average
Market Saturation
34.5
firms per 100K in MI
Total Revenue
$6.5B
all firms in MI
Total Employees
26,665
in MI
How Michigan Compares
National Average$1.7M
Michigan$1.9M
Difference+$185K (+11.0%)