Healthcare Staffing Company

Company Snapshot:

Company specializes in placing nurses at various medical establishments in the greater Chicago area. The majority of their work is done at small medical facilities including rehabilitation centers, and hospice care facilities as opposed to hospitals. They have developed their own inhouse process for both sourcing talent and for developing new business. They have been in business in this capacity for about four years. The company is doing approximately $1,400,000 in revenue with about $447,000 in seller's discretionary earnings.

About This Company:

This healthcare staffing company makes money by helping medical facilities find nurses to hire.  

The majority of their work is through assigned workers, versus permanent placement jobs. This means that the majority of money they earn is recurring income from staffing placements as opposed to one-time lump sum payments from clients.

They make money through the difference in hourly wage their clients are willing to pay and the amount the nurses are willing to work for. They typically charge a 25 percent markup on labor and they make this money monthly for as long as the nurses work for their clients. Nursing is generally considered to be an excellent niche for staffing businesses, as there is a great and growing demand for the healthcare services their clients provide, as well as for the work the employees they staff will continue to need to do.

This opportunity would require the new owner to work in the business as the current owner does. The owner is willing to provide up to three months of training to the new owner during the transition phase.

The company has developed an inhouse process for business development and for sourcing the talent they staff.

The company has three internal recruiters and one administrative assistant that will stay on with the new owner.

The company owns minimal assets, but is committed to leasing office space for the next two years. The new owner would need to take over this lease responsibility.

Opportunity:

There are numerous opportunities for growth that the new owners could seek out. Some big ideas could include:

1. Implementing a more sophisticated sales process and a modernized CRM system. They could also benefit from hiring sales reps to help with business development. The owner has so far managed to bring in new business via directly calling clients.
2. Developing an advertising strategy. The company does not currently pay for advertising and the website has almost no SEO presence.
3. The company could also branch out their services to staffing other types of jobs with the same clients (such as occupational therapists).
4. The company could also look for ways to staff nursing jobs to residential consumers as opposed to only small medical facilities. There is a growing demand for in-home healthcare services.

Reason For Change:

The owner is getting remarried and intends to relocate to the Caribbean, they want to sell the company to facilitate this transition.

‍