Dear Friend & Fellow Entrepreneur,

If you're thinking of purchasing an existing medical transportation business or selling an existing NEMT business you need to consider investing in an “Executive Business Evaluation.”

WHAT IS AN EXECUTIVE BUSINESS EVALUATION (EBE)?

An EBE is an assessment of the status and condition of the business being bought or sold to help determine realistic value, strengths, weaknesses, market opportunities, and potential problems.

I have been blessed to work with and assist an untold number of entrepreneurs on both sides of the acquisition table, buyers and sellers. The problem is many business owners wait to contact me AFTER an acquisition when they realize they made a bad deal. My staff and I are then retained to help play “clean up duty.”

Needless to say, I have seen some very bad deals. Many providers place themselves at a financial disadvantage because they either overpay, undervalue, or simply agree to ridiculous terms.

I don’t always blame the business owner. Many business owners, although well intentioned, can be rather naïve. They retain and listen to a business broker to help sell or buy their business but the broker really has NO clue or understanding of the NEMT industry.

The broker moves forward using simple formulas and analytics to create the highest asking price so they can earn the greatest commission. Unfortunately, traditional formulas and analytics don't apply to the NEMT industry. Why – because this is NOT a traditional industry.

If evaluating a McDonald's franchise in New York, Florida, California, or any other state, the business broker can apply the same industry-specific formulas and analytics for each restaurant, regardless of location. But again, universal formulas and analytics don’t apply to the NEMT industry. The reason is simple, the NEMT industry is unique!

In the NEMT industry, there are vast variations in local market dynamics. Further, the lack of continuity in legislative policies between states and counties could not be greater. Then, factor in the extreme expansion of the federal Medicaid system with associated broker variables and you quickly realize the valuation process for NEMT acquisitions is exceptionally unique.

Again, traditional formulas do NOT apply.

Hello,I would like to take this opportunity to share our experience with Joel and the purchase of our business. The seller was asking $950,000 and we verbally agreed on $850,000. My wife had some reservations and insisted that we retain Joel’s help. If for no other reason she insisted we try to get confirmation on the value of the business. I do have to admit I was against the idea but am very pleased I trusted in my wife’s persistence.

Joel reviewed many aspects of the business and was adamant we were overpaying because of the type of contracts and the condition of the fleet and other factors. I was somewhat stubborn and disagreed because I thought it was a good opportunity but my wife was more relieved and insisted we don’t purchase the business.

Joel insisted that if we were prepared to invest that much money we should start our own business. About six months later while we were in the process of starting our own NEMT business the seller approached us again to see if we were still interested in buying his business. This time he had reduced the price down to a shocking $500,000. With Joel’s help we ended up purchasing the business for $450,000, almost half of what we were prepared to pay earlier in the year.

On behalf of my wife and me, I encourage anyone thinking about enlisting Joel’s help to do it. It was the best investment we made, despite my initial reservation. We are living proof that Joel knows this business and knows what he is talking about. Thank you Joel for your help and support.

Ken and Gloria, Florida


WHEN SHOULD YOU CONSIDER AN EXECUTIVE BUSINESS EVALUATION?

· Prior to selling your business to help determine Fair Market Value (FMV)

· When you are considering the acquisition of an existing NEMT business

· Prior to retaining a business broker

· When you are considering an exit strategy for an existing business

· If there is a dispute or separation of principal owners to help determine FMV

· If you are interested in increasing the FMV for prospective buyers. Needless to say, an EBE is going to ..save you a lot of money and save my staff and me a lot of time.

WHAT I NEED TO PREPARE YOUR EXECUTIVE BUSINESS EVALUATION

After making your investment my staff will email you a questionnaire. Please be as detailed as possible in answering the questions so I can learn as much as possible about the business.

I will also need you to email me the following information:

1. Profit/Loss statement for each of the last three years

2. Year-to-date Profit/Loss statement

3. Itemized list of fleet vehicles to include make, model, year, mileage, and seating capacities

4. If serving as a subcontractor to and broker, a copy of the Transportation Agreement

5. Copies of any/all contracts or service agreements maintained by the business

It is imperative that you provide me with accurate and well organized information. My Evaluation and findings are derived from the information you provide so PLEASE ensure your financials and information are detailed, accurate, and organized.

If you don’t have all of this information readily available you need to contact the seller, your accountant, bookkeeper, office manager, or whomever to gather this information. I cannot make sound conclusions or assessments based on incomplete data.

After receiving your information chances are very good I will have additional questions. If so, I will email you for further insight.

THE EXECUTIVE BUSINESS EVALUATION

Using the information and answers you provide I will prepare a written Evaluation several pages long which includes all of my determinations.

You want to retain and share this Evaluation with business partners, possible investors, or financiers. If you anticipate retaining a business broker to help list and sell your business you will want to share this Evaluation with the broker prior to developing the asking price.

Be advised, I am going to be blatantly honest. My job is NOT to tell you what you want to hear. Rather, my job is to provide you with an unbiased evaluation and assessment so you have realistic expectations whether buying or selling your business.

If you are purchasing an existing NEMT business and I determine the asking price is not realistic - you will know! If you are selling an existing NEMT business and you are either over or undervaluing the business - you will know!

To be clear, this Evaluation is an assessment of the business and is NOT a business plan. If you are seeking financing you still need to develop a formal business plan outlining strategic planning.

YOUR INVESTMENT

The cost for development of an Executive Business Evaluation is a single investment of $1,500 and includes all required time to review your various information, possible correspondence, and preparation of the actual Evaluation.

Your completed EBE will be delivered via email as a PDF.

Although I cannot guarantee a specific delivery date, the more organized, thorough, and quickly you are able to provide me with necessary information the more quickly I can complete your Evaluation.

Because this is a personalized service that requires considerable time and preparation no partial payments will be accepted and no requests for refunds, under any circumstances, will be entertained. IE: Should you disagree with my determinations, I will not refund your money to soothe your disappointment.

Again, this Executive Business Evaluation is an exclusive opportunity for those of you serious about gaining an unbiased assessment of your current NEMT business or a prospective business you are interested in purchasing.

Note, your investment is for a single EBE. If your acquisition consists of evaluating multiple prospective businesses each business will require a separate Evaluation.

ONLY if you are serious and realize the value of this service, click the link below and let’s get started.

 

See you at the Top
Joel E. Davis

 

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