La Rosa Acquires Second Real Estate Brokerage Franchisee with Audited Revenue of $10.8 Million and Positive Net Income in 2022
19 Octobre 2023 - 2:15PM
La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the
“Company”), a holding company for five agent-centric,
technology-integrated, cloud-based, multi-service real estate
companies, today announced that it has acquired a controlling
interest in the Company’s franchisee - Horeb Kissimmee Realty, LLC
(“Kissimmee) located in Kissimmee, Florida.
Kissimmee generated revenue of $10.8 million and
had positive net income in 2022. The franchisee provides
residential and commercial real estate brokerage services. It also
provides coaching and support services to agents on a fee
basis.
Joe La Rosa, CEO of the Company, commented, “We
are executing on our planned roll-up strategy of acquiring
profitable franchisees. We believe that this acquisition when
combined with the previous acquisition of La Rosa Realty Lake Nona,
Inc., will double our top-line revenue. We have several other
acquisitions in the pipeline, and we expect both our top-line and
bottom-line revenue to improve considerably as our current
infrastructure is set up to support five times our current agent
count. We believe our brokerage model is unique when compared
to many of our competitors in our local market. It is agent centric
with 100% commission and it also provides real estate brokers and
sales agents who are seeking financial independence with a turnkey
solution and support in growing their brokerages while they fund
their own businesses. This enables us to maintain a low fixed-cost
business model with several recurring revenue streams, yielding
relatively high margins and cash flow. We also offer proprietary
technology, training, and support to our agents at a minimal cost
to them which we believe is one of the best packages offered in the
industry.”
About La Rosa Holdings Corp.La
Rosa is a holding company for five agent-centric,
technology-integrated, cloud-based, multi-service real estate
companies. In addition to providing person-to-person residential
and commercial real estate brokerage services to the public, the
Company cross-sells ancillary technology-based products and
services primarily to its sales agents and the sales agents
associated with their franchisees. La Rosa’s business is organized
based on the services they provide internally to their agents and
to the public, which are residential and commercial real estate
brokerage, franchising, real estate brokerage education and
coaching, and property management. La Rosa has seven La Rosa Realty
corporate real estate brokerage offices located in Florida, 26 La
Rosa Realty franchised real estate brokerage offices in six states
in the United States and Puerto Rico. The Company’s real estate
brokerage offices, both corporate and franchised, are staffed with
more than 2,380 licensed real estate brokers and sales
associates.
For more information, please visit:
https://www.larosaholdings.com
Forward-Looking StatementsThis
press release contains forward-looking statements regarding the
Company’s current expectations that are subject to various risks
and uncertainties. Such statements include statements regarding the
Company’s ability to grow its business and other statements that
are not historical facts, including statements which may be
accompanied by the words “intends,” “may,” “will,” “plans,”
“expects,” “anticipates,” “projects,” “predicts,” “estimates,”
“aims,” “believes,” “hopes,” “potential” or similar
words. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict. Actual results could
differ materially from those described in these forward-looking
statements due to certain factors, including without limitation,
the Company's ability to achieve profitable operations, customer
acceptance of new services, the demand for the Company’s services
and the Company’s customers' economic condition, the impact of
competitive services and pricing, general economic conditions and
other risk factors detailed in the Company's filings with the
United States Securities and Exchange Commission (the "SEC”). You
are urged to carefully review and consider any cautionary
statements and other disclosures, including the statements made
under the headings “Risk Factors” and elsewhere in documents that
we file from time to time with the SEC. Forward-looking statements
contained in this press release are made only as of the date
of the this press release, and La Rosa does not undertake any
responsibility to update any forward-looking statements in this
release, except as may be required by applicable law. References
and links to websites have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release.
For more information, contact:
info@larosaholdings.com
Investor Relations
Contact:Crescendo Communications, LLCDavid Waldman/Natalya
RudmanTel: (212) 671-1020 Email:LRHC@crescendo-ir.com
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