Business
La Rosa Acquires Fourth Real Estate Brokerage Franchisee with Revenue of $2.7 Million and Positive Net Income in 2022
Targeting $100 million of annualized revenue as a 2024 exit run rate Celebration, FL, Dec. 20, 2023 (GLOBE NEWSWIRE) -- La Rosa Holdings Corp. (NASDAQ: LRHC)
About this update from La Rosa Holdings Corp.
[{"type":"text","content":"Targeting $100 million of annualized revenue as a 2024 exit run rate\nCelebration, FL, Dec. 20, 2023 (GLOBE NEWSWIRE) -- 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 51% interest in the Company’s franchisee - La Rosa Realty Premier, LLC (“Realty Premier”) located in Orlando, Florida. Realty Premier generated revenue of $2.7 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, “As stated previously, our goal is to reach an annualized revenue run rate of $100 million before the end of 2024. We have an additional 8 franchisees in the pipeline which we expect to acquire in the next six to eight months. We are also evaluating other acquisitions in the real estate sector that can further contribute to our growth. 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. We believe we are disrupting the real estate industry because, to our knowledge, currently we are the only publicly traded company that offers real estate agents the option of a revenue share model or an annual fee-based model with 100% agent commissions. This flexibility, coupled with a more transparent fee structure allows us to attract top real estate talent and meaningfully scale our business. We are extremely excited about the future of our business.” 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 educ...