High Margin Medical Examination Business with Protected Territories

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

Managers:

0

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

Expiration Date:

2023-04-09

Square Footage:

1400

Building Type:

Doesn't show up - Delete

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

For more information on this listing, please complete our Non-Disclosure Agreement
LISTING BROKER

Carey Sobel

Carey Sobel
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

Managers: 0

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

Expiration Date: 2023-04-09

Square Footage: 1400

Building Type: Doesn't show up - Delete

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