La Rosa Acquires Third Real Estate Brokerage Franchisee with Revenue of $3.4 Million and Positive Net Income in 2022
15 Diciembre 2023 - 8:00AM
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 CW Properties, LLC (“CW
Properties”) located in Longwood, Florida.
CW Properties generated revenue of $3.4 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
continue to execute on our planned roll-up strategy of acquiring
franchisees, as this is our third real estate brokerage franchisee
acquisition this year. Our goal is to acquire an additional 9
franchisees over the next six to eight months. We also have other
acquisitions in the pipeline that we are actively evaluating. These
acquisitions would contribute to both our top-line and bottom-line
growth, as we believe that our current infrastructure is set up to
support five times our current agent count. Our goal is to reach an
annualized revenue run rate of $100 million before the end of 2024.
While we historically operated profitably prior to our IPO in 2021,
we believe our projected revenue growth will ensure our return to
profitability as an exit run rate in 2024, even after factoring in
our new costs and overhead as a public company. In our view, the
fact that both our revenue and profitability continue to improve,
despite the current market, sets us apart from most other
brokerages in the industry — a testament to the strength and
scalability of our business model. We look forward to providing
updates on our other planned acquisitions in the near future.”
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.
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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)
671-1020Email: LRHC@crescendo-ir.com
La Rosa (NASDAQ:LRHC)
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