La Rosa Acquires Sixth Real Estate Brokerage Franchisee with Revenue of $4.3 Million and Positive Cash Flow in 2022
04 1월 2024 - 11:15PM
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
segments, today announced that it has acquired a 100% interest in
the Company’s franchisee - La Rosa Realty North Florida LLC
(“Realty North Florida”) located in Jacksonville, Florida.
Realty North Florida generated revenue of $4.3
million and generated positive cash flow from operations, excluding
costs of the executive management 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
continue to successfully implement our roll-up strategy of
acquiring profitable franchisees, consolidating our position in the
market and creating value for both shareholders and clients. Realty
North Florida was quite profitable in 2022, excluding certain
payouts to the executive management. Following the
acquisition, we will continue to provide our revenue share model to
the top agents in the office, which is structured to ensure a high
retention rate. We believe our unique brokerage model sets us apart
from other players in the real estate industry. By offering real
estate agents the option of a revenue share model or an annual
fee-based model with 100% agent commissions, we intend to empower
agents and elevate their success. We have several more franchisees
in the pipeline that we plan on acquiring over the next several
months, which brings us closer to our goal of reaching an
annualized revenue run rate of $100 million before the end of
2024.”
About La Rosa Holdings Corp.
La Rosa is a holding company for five
agent-centric, technology-integrated, cloud-based, multi-service
real estate segments. 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 10 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 2,470 licensed real estate brokers and sales
associates.
For more information, please
visit: https://www.larosaholdings.com.Stay connected with La
Rosa, sign up for news alerts
here: larosaholdings.com/email-alerts.
Forward-Looking Statements
This 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
La Rosa (NASDAQ:LRHC)
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부터 4월(4) 2024 으로 5월(5) 2024
La Rosa (NASDAQ:LRHC)
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부터 5월(5) 2023 으로 5월(5) 2024