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
WHAT IS AN EXECUTIVE BUSINESS EVALUATION
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
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.
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
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
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
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.
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