La Rosa Acquires Eleventh Real Estate Brokerage Franchisee
May 30 2024 - 8:30AM
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 completed an acquisition
transaction and now holds a 51% interest in the Company’s
franchisee - La Rosa Realty Success LLC (“Success”), located in
Apopka, Florida.
Success generated revenue of $0.5 million in
2023. 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, “The
acquisition of Success is expected to not only increase our revenue
but also enhance our margins through improved operating
efficiencies and economies of scale as we integrate it into La
Rosa. Prior to the acquisition, Success had 33 agents. Concurrent
with the acquisition, we added 18 agents, representing a 55%
increase. By offering agents a choice between a revenue share model
and an annual fee-based model with 100% commissions, we anticipate
an accelerated trend of agents moving from traditional high-cost
brokerages to our more efficient, high-value model. We continue to
grow revenue organically, and as we continue acquiring franchisees,
we expect significant additional contributions to our revenue
growth throughout 2024. We believe that we are well on our way
towards achieving our target of an annualized revenue run rate of
$100 million by the end of 2024, with profitability expected in
2025.”
About La Rosa Holdings
Corp.
La Rosa Holdings Corp. (Nasdaq: LRHC) is
disrupting the real estate industry by offering agents a choice
between a revenue share model or an annual fee-based model with
100% agent commissions. Leveraging its proprietary technology
platform, La Rosa empowers agents and franchisees to deliver
top-tier service to their clients. The Company provides both
residential and commercial real estate brokerage services and
offers technology-based products and services to its sales agents
and franchise agents.
La Rosa's business model is structured around
internal services for agents and external services for the public,
including residential and commercial real estate brokerage,
franchising, real estate brokerage education and coaching, and
property management. The Company has 22 La Rosa Realty corporate
real estate brokerage offices and branches located in Florida,
California, Texas, and Georgia. The Company also has 15 La Rosa
Realty franchised real estate brokerage offices and branches and
two affiliated real estate brokerage offices in the United States
and Puerto Rico.
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, our ability
to successfully integrate acquisitions into our business
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, the successful integration of the Company’s past and
future acquired brokerages, the effect of the recent National
Association of Realtors' landmark settlement on our business
operations, 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 heading “Risk Factors” in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2023,
and other reports and documents that we file from time to time with
the SEC, including our Quarterly Report on Form 10-Q for the fiscal
quarter ended March 31, 2024. Forward-looking statements contained
in this press release are made only as of the date of 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 has not been 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
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