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Global Business Brokerage Inc. where you will experience a "World of Difference"
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Industry: DURABLE MEDICAL EQUIPMENTSegment: RENTAL AND RETAIL SALESWELL ESTABLISHED AND PRESTIGIOUS LIST OF BUSINESS RELATIONSHIPS WITH HMO'S, PPO'S, MEDICARE, TOP INSURANCE COMPANIES, HOSPITALS, NURSING HOMES AND DOCTOR'S OFFICESGeography: Tampa Bay Area - "Florida's Beautiful Gulf Coast" SORRY - TOO LATE - JUST SOLD!!! POSSIBLE - SEMI ABSENTEE OWNERSHIP** - (See below) Asking Price: $ 285,000 - PRICE REDUCED AGAIN!!! FROM $425,000/OWNER VERY MOTIVATED$185,000 Down with owner financing SALES $ 296,906+++ - New HMO Contract with projected revenue of $100,000+ will boost sales significantly. Owner Benefit $ 121,000+++ (Owner operated and managed) Established Since 1991 - Same family ownership Licenses Occupational License - County State of Florida - Home Medical Equipment & Services State of Florida - Medical Oxygen Retailer Federal - Medical number (may need fingerprints to satisfy background check) Furniture, Fixture & Equipment $91,900 - Breakdown is: Rental Equipment and Machinery $ 46,625 Vehicle, Office Equipment, Furniture and Fixtures $ 44,475 Inventory Durable Medical Equipment - Retail $126,000 NOTE: All inventory included in the sale. Rent $2,600 Monthly/ Landlord will renew or sign extended lease depending on buyer's preference. Facility Large, Functional Space - 2,200 Sq. Ft. and 700 Sq. Ft. storage unit off premises (Landlord requires standard credit check) Hours Monday through Friday - 9:30 - 5:00. Morning/early afternoon hours - every other Saturday. Delivery of oxygen tanks is on a 24/7 basis, but business is normally conducted during business hours. Employees Business is currently managed by one of the owners. Possible Absentee Ownership **The second individual in the operation is the owner's brother's wife, who is capable of running the entire business. She would be willing to stay and manage the entire business and is very capable of doing that. Reason For Sale: Current owner-manager, son of the founder, wishes to pursue other interests and requires the equity from the sale of this business to do so. NOTE: MEDICARE CONDUCTS A VERY DETAILED AND COMPLEX ON-SITE INSPECTION EVERY THREE YEARS AND THEY JUST PASSED THIS VERY GRUELING INSPECTION - SO YOU'RE ALL SET FOR THE NEXT THREE YEARS! HOME HEALTH CARE IS THE FUTURE! ASK ANY MEDICAL PROFESSIONAL. HOSPITALS DO NOT KEEP PATIENTS FOR VERY LONG ANYMORE AND IN FLORIDA, WITH THE MANY ELDERLY RETIREES, THIS GROWING BUSINESS, IS THE ONLY DURABLE MEDICAL EQUIPMENT (DME) FACILITY IN THE COUNTY THAT IS PRIVATELY OWNED. THE ONLY COMPETITION IS BASED IN A NEIGHBORING COUNTY AND THE DRIVING DISTANCES HURT THEIR COMPETITORS. The Medical Industry is an industry which has always been extremely stable, especially in the State of Florida. People always need medical supplies. This medical supply company, rents and sells virtually all kinds of medical equipment and supplies and is well positioned for future growth and expansion. THIS BUSINESS IS IN A GROWTH LOCATION! This medical supply business is in an ideal location, because the general population is, to a great extent, fairly well-to-do retirees. It is also an area that is currently undergoing a rapid growth spurt for the Tampa Bay area and has become highly residential. There are many new subdivisions, including retirement communities, golf courses, lakes, which brings with it many hospitals, nursing homes, medical clinics and also includes retirement villas, 55+ condominiums, as well as new shopping centers, and many anchor stores such as a huge Publix Shopping Center, Dunkin Donuts, a new YMCA, are in the immediate vicinity. It is also close to many medical and professional offices. This business is located in a brand new, very popular shopping center area, with a 2,000 Sq. Ft. store front that is visible from this busy road, with excellent signage. You can't miss this location. Traveling on the Veteran's Expressway, it is only 25 minutes from downtown Tampa. Easily accessible, they get many new clients, when other provider's in neighboring counties fail to make timely deliveries. YOU COULD SEARCH FOR A LONG TIME - AND NEVER FIND A MORE ESTABLISHED, PROFITABLE AND GROWING BUSINESS - 10 MILES FROM THE GULF OF MEXICO IN BEAUTIFUL FLORIDA. BASED ON OUR PREVIOUS EXPERIENCE ... THIS BUSINESS WILL DEFINITELY NOT LAST LONG ON THE MARKET!!! GENERAL OUTLINE OF THE BUSINESS AND THEIR ACTIVITY This business would be classified as a DME (Durable Medical Equipment) Provider. The primary service provided, is the delivery of breathing assistance products, direct to the patient/customer. For the most part, the equipment is owned by this business and rented out. When a customer/patient is leaving the hospital, they deliver the breathing equipment before the patient is released and follow-up with a home visit for an explanation of the devices. Not all customers are met at the hospital. They also deliver tanks to local doctor's offices and have many relationships in the area with doctor's offices, hospitals, and nursing homes. They also have many "walk in" clients and referrals. Currently, they do not do any paid advertising. This growing business, has virtually no accounts receivable, since everything is paid by third party providers, such as Medicare, insurance companies, including HMO's and PPO's. Accounting is done monthly and Medicare is billed electronically every month. Paper claims are also submitted. This very profitable business is an ideal business for a husband and wife who wish to retire in Florida or anyone that has an interest in the medical field. Though not required, the founder had nursing certification and respiratory background. One employee is currently licensed to fit breast prostheses on mastectomy patients. In fact, they have one private office, just for the fitting of these devices (see below). STORE AND INVENTORY The store itself is new, designed well, with upper scale shelving, with large retail - display areas, with virtually every kind of medical equipment you can imagine, such as disposable equipment, such as gloves, bandages, etc. Spaces for braces, supports, ankle, and brace supports, canes, crutches, wheelchairs, walkers, potty chairs, beds, etc. Display of medical clothing is enormous with shoes, scrubs, nursing and doctor's uniforms (white, colored and patterned), as well as stethoscopes and all related items. Because this is in an area where there are many medical business, doctor's offices, etc., they sell a lot of clothing to the many medical professionals in the area and surrounding areas. They also have a beautiful office, which is fully equipped with the latest in communication and computer equipment, a fax, copier and nice file system. A newer delivery van with signage is included.
Rental of oxygen equipment relates to 65% of sales: Because much of the business is devoted to the oxygen tanks, they also have a work area in the back for maintenance of the cylinders. They also have a 700 foot storage unit, which is very close, but off premises. There are two types of oxygen equipment, a portable oxygen unit, which includes the tank and a regulator with a hand cart. The other is a non-portable machine for home use. The home use machine uses a concentrator, is plugged into a wall and makes it's own oxygen. The portable units only provide a few hours of oxygen. Maintenance on the concentrator is required at 3 month intervals. Interior filters must be replaced every 10,000 hours. The compressor must be rebuilt or replaced every 15,000 to 20,000 hours. They replace, not rebuild. This means the portable units just need replacement tanks and this business provides customer service and support. These clients go through the tanks relatively quickly. All patients who receive concentrators, also receive portable tanks in case of home power failure. They also deliver tanks to local doctor's offices and are always getting new clients from the many doctor's offices in the area. They also service the hospitals by bringing the portable units to the hospitals and then meeting the clients in their homes with the concentrator unit. As mentioned above, many of their clients are the elderly and they also experience some repetition with healthier oxygen clients as well. Other medical equipment makes up 15% of sales and the final 20% comes from the store inventory. Half of the store sales are scrubs (loose-fitting medical personnel outfits). Approximately 70-75% of sales are driven by HMOs, Medicare and local doctor relationships. The remainder comes by way of walk-ins, personal referrals, yellow pages, etc. Rented Equipment:
Medicare pays for rental of any of the above devices. Max time rented is 15 months. After 15 months of rented payments, the patient owns the device. Medicare pays more in one month of a rental period than in future months. Range of Medicare payments:
All HMO's pay 65% of Medicare max allowable amounts (expressed above). IN SUMMARY In summary, this profitable and well positioned medical business, is an excellent investment and with a little time and energy spent marketing it to other hospitals, medical facilities, nursing homes, etc., you can grow it as much as is desired. ...Or, you could sit back and enjoy the profits from this already well established business. HAVE AN INTEREST? By this point, you should have determined your level of interest. We ask that you now e-mail us an request an NDA (Non-Disclosure Agreement) from the Broker. Upon completion and return of the NDA, we will contact you. All of this information presented on this Web Page, was derived from Federal Tax Returns, Financial Statements and information provided by the Company Owner. It is all available for your review in the Broker's Office. Once you have met with the Broker, and the Business Owner and decide to proceed further in the Due Diligence process, you will be provided with all of the relative information you need for you or your financial representative to make an informed decision concerning this Business. Viewing: Prospective buyer financial qualification required prior to further disclosure and showing. Disclosure: Global Business Brokerage, Inc. has on file the signature and the Sole and Exclusive Right to Sell Listing Agreement, Equipment List, Lease and Cash Flow Analysis. Information provided herein has been provided by the seller. Broker has not and will not verify the accuracy or completeness of any information. Purchasers are advised to consult with their legal and financial advisors to the extent they deem necessary. |
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