5.0. EDSR 10-14-1997 - Laserfiche WebLink

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• INFORMATION PROVIDERS, INC. 33 Tenth Avenue South, Suite 301 Hopkins, Minnesota 55343 (612) 938-1400 PROJECTED COMPANY LOCATION: Information Providers is open to a background check center to be located in the Upper Midwest. The Company needs approximately 3,000 - 5,000 square feet of office space. Updated telecommunications is essential. There are no special electrical or water/sewer needs. BUSINESS DESCRIPTION: History: Fred Peters, owner of Information Providers, acquired this business from Policy Management Service approximately two years ago. In late 1995, PMSC determined that it wanted to dispose of its insurance, inspection, and verification business. The company sold each of its regional divisions to various people throughout the country. Mr. Peters had been the regional Vice President of the Midwest divisions and acquired the business directly from PMSC. The disposition of each division was based largely on PMSC's inability to generate operating profits due to poorly priced national contracts with major insurance providers. Mr. Peters has moderately down sized the company but has returned this operation to profitability. He is now seeking expansion opportunities to add additional products and services to grow the business. Company Products: Information Providers, Inc., within this market, provides inspections for personal and commercial clients. A description of each of these types of services is as follows: Personal lines - Information Providers, Inc. offers over 150 different types of surveys and inspections for its clients. Generally, these are "short form", fixed priced inspections priced between $10 and $30 each and $2.25 for photographs. Examples of these types of inspections include: insurance property inspections, heating and electrical inspections, • high value reports (for expensive homes), and loan verifications.