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General Business Information
Listing ID:
4110-00289
Listing Type:
Exclusive Right of Sale
Price:
$695,000
Down Payment:
$77,200
Category:
Medical Related Biz
Subcategory:
Medical Testing
County:
Seminole
State/Prov:
Florida
Country:
United States
Sales:
$699,928
SDE:
$211,948
Description of Business
Owned for 17+ years by the same owner, this is a unique service-based business with an exclusive agreement securing 5 large counties in Central Florida to administer paramedical exam services for life, disability, group and health insurances.
Insurance companies are billed directly and net sales (approx. 20-22%) are provided to the company. Business comes in from independent agents and brokerages with existing relationships and directly from insurance companies that order on behalf of insurance agents. The company averages approximately 1,000 cases per month.
The business is run with 2 FTE’s and 18-20 independent contractor field technicians. This is a turn-key operation and perfect for an owner/operator; from an entrepreneur looking for a bolt-on, to a sales-focused individual looking to ‘leave corporate’ and run their own business. There are several opportunities to increase sales and grow the business behind an (almost) 50 year old company and the largest of its kind in the US.
Listing Details
Location:
This business is located in a professional office building North East of Orlando.
Organization Type:
Sub-S Corporation
Hours of Operation:
8a - 5p M - Th, 8a - 4p Friday
Years Established:
31
Years Owned:
17
Employees FT:
2
Employees PT:
20
Amount of Hours Owner Works:
20
Is Relocatable:
Yes
Is Home Based:
No
Is a Franchise:
Yes
Is Lender Pre Qualified:
Yes
May Qualify for a Visa:
Yes
Financial Information
INCOME PERIOD, Year
GROSS SALES
– Costs of Goods Sold
= Gross Profit
– Total Expenses
= Net Before Taxes
ADD BACKS
+ Owner(s) Salary
+ Benefits
+ Interest Expense
+ Depreciation
+ Other
TOTAL OWNER BENEFIT
2022
$699,928
$296,194
$403,734
$327,924
$75,810
$117,252
$18,500
$386
$0
$0
$211,948
2021
$784,670
$331,338
$453,332
$358,536
$94,796
$116,368
$25,855
$310
$0
$0
$237,329
2020
$755,304
$304,566
$450,738
$364,270
$86,468
$108,742
$12,490
$279
$262
$0
$208,241
Assets Included in Sale
Accounts Receivable:
$100,000 Not Included
FF+E:
$15,000 Included
Inventory:
$7,500 Included
Total Assets Included:
$22,500
Lease Information
Monthly Rent:
$2,721
Expiration Date:
2023-08-31
Square Footage:
1400
Terms and Options:
Negotiable
Building Type:
Office Building
Summary
Reason for Sale:
Consolidation, Other Business Interest
Training and Support:
Two weeks at no cost to buyer.
Non Compete:
50 Miles for 3 Years
Owner Qualifications:
Management Experience
Financing Summary:
Customers Bank SBA Lending through Jeffery Katz. (904) 521-8037 | jkatz@customersbank.com: Down Payment: $77,200 | Working Capital: $50,000 | Loan Fees: $14,000 | Closing Costs: $13,000
For more information on this listing, please complete our Non-Disclosure Agreement
LISTING BROKER
General Business Information
Listing ID: 4110-00289
Listing Type: Exclusive Right of Sale
Price: $695,000
Down Payment: $77,200
Category: Medical Related Biz
Subcategory: Medical Testing
County: Seminole
State/Prov: Florida
Country: United States
Sales: $699,928
SDE: $211,948
Description of Business
Owned for 17+ years by the same owner, this is a unique service-based business with an exclusive agreement securing 5 large counties in Central Florida to administer paramedical exam services for life, disability, group and health insurances.
Insurance companies are billed directly and net sales (approx. 20-22%) are provided to the company. Business comes in from independent agents and brokerages with existing relationships and directly from insurance companies that order on behalf of insurance agents. The company averages approximately 1,000 cases per month.
The business is run with 2 FTE’s and 18-20 independent contractor field technicians. This is a turn-key operation and perfect for an owner/operator; from an entrepreneur looking for a bolt-on, to a sales-focused individual looking to ‘leave corporate’ and run their own business. There are several opportunities to increase sales and grow the business behind an (almost) 50 year old company and the largest of its kind in the US.
Listing Details
Location: This business is located in a professional office building North East of Orlando.
Organization Type: Sub-S Corporation
Hours of Operation: 8a - 5p M - Th, 8a - 4p Friday
Years Established: 31
Years Owned: 17
Employees FT: 2
Employees PT: 20
Amount of Hours Owner Works: 20
Is Relocatable: Yes
Is Home Based: No
Is a Franchise: Yes
Is Lender Pre Qualified: Yes
May Qualify for a Visa: Yes
Financial Information
INCOME PERIOD, Year: 2022
GROSS SALES: $699,928
– Costs of Goods Sold: $296,194
= Gross Profit: $403,734
– Total Expenses: $327,924
= Net Before Taxes: $75,810
ADD BACKS
+ Owner(s) Salary: $117,252
+ Benefits: $18,500
+ Interest Expense: $386
+ Depreciation: $0
+ Other : $0
TOTAL OWNER BENEFIT: $211,948
INCOME PERIOD, Year: 2021
GROSS SALES: $784,670
– Costs of Goods Sold: $331,338
= Gross Profit: $453,332
– Total Expenses: $358,536
= Net Before Taxes: $94,796
ADD BACKS
+ Owner(s) Salary: $116,368
+ Benefits: $25,855
+ Interest Expense: $310
+ Depreciation: $0
+ Other : $0
TOTAL OWNER BENEFIT: $237,329
INCOME PERIOD, Year: 2020
GROSS SALES: $755,304
– Costs of Goods Sold: $304,566
= Gross Profit: $450,738
– Total Expenses: $364,270
= Net Before Taxes: $86,468
ADD BACKS
+ Owner(s) Salary: $108,742
+ Benefits: $12,490
+ Interest Expense: $279
+ Depreciation: $262
+ Other : $0
TOTAL OWNER BENEFIT: $208,241
Assets Included in Sale
Inventory: $7,500 Included
FF+E: $15,000 Included
Accounts Receivable: $100,000 Not Included
Total Assets Included: $22,500
Lease Information
Monthly Rent: $2,721
Expiration Date: 2023-08-31
Square Footage: 1400
Terms and Options: Negotiable
Building Type: Office Building
Summary
Reason for Sale: Consolidation, Other Business Interest
Training and Support: Two weeks at no cost to buyer.
Non Compete: 50 Miles for 3 Years
Owner Qualifications: Management Experience
Financing Summary: Customers Bank SBA Lending through Jeffery Katz. (904) 521-8037 | jkatz@customersbank.com: Down Payment: $77,200 | Working Capital: $50,000 | Loan Fees: $14,000 | Closing Costs: $13,000
LISTING BROKER