Business Description: The State has contracted with this company to transport Medicaid patients to and from medical treatment facilities. Headquartered in Morris County and serving Hudson County as well, the owner of this business is willing to sell his business to obtain cash. Competition in this industry is limited due to the length of time it takes to obtain a license, contract with the state and meet the driver, vehicle and insurance requirements. Because of the limited competition, the businesses that have met these requirements are profitable from the outset and because of the barriers to entry and the imminent growth offered by the state, existing licensees have real value beyond their immediate earnings.
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The Medicaid transportation needs of the state are not being fulfilled in any county in the state, Morris and Hudson Counties included. Licensed, operating businesses can obtain more business in the counties they serve (and they do), and they can expand into any other county within the state simply by picking up the phone and advising the state of its intent to expand. Growth, however, requires a front-end investment to acquire additional vehicles, drivers and insurance and, perhaps several months of operation before they break-even. Investment in a set of vehicle, driver, insurance and operation would run about $40,000 and that would typically bring in more than twice its cost in the first year alone and generate a 50% net profit each year thereafter.
Since the industry is served by small, independently owned companies, the roll-up opportunities are equally prominent. For more information, please contact the broker, Gerald Nimberg at 877-735-5224
Asking Price: $300,000.00
Gross Revenue: $144,000.00
Owner's Cash Flow: $72,000.00
Down Payment: $300,000.00
For more information, contact Vested Business Brokers at 1(877) 7355224.
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Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.