This business is currently licensed by the California Department of Managed Health Care, and the Buyer must qualify personally for this license by having a clean background check to transfer it over. It would take a motivated company and a team of lawyers at least this much in legal fees alone to obtain this license on their own trying to start a company from scratch. Given the amount of regulation and close scrutiny players in this field are under just to maintain a good standing with the state of California, the path of least resistance is a strategic acquisition of an existing CLEAN license such as the subject Company's. Seller's firm has been around for decades, has a very strong business plan, ongoing revenues, 1,500 referring brokers marketing the firm's offerings, and over 15,000 individuals currently on the different plans. NDA is required for exact business identity. Seller reserves the right to review and approve Buyer's NDA prior to disclosing identity and moving forward with a conference call and comprehensive due diligence package.
Facilities: In a high-rise office office building in Southern California.
Competition: Barriers to entry include about $1,500,000+ in legal fees it would take to establish a new license. Instead, buy a license, and be operational after the close of escrow, and save 2-3 years of time!
Growth/Expansion: Currently operational only in California, but there's no reason why this business model couldn't work nationwide.
Financing: $500k down, $1.5MM for 60 months at 6% WITH COLLATERAL ONLY.
Support/Training: 3 months 20 hours per week minimum, more as needed and can be negotiated per the needs of the Buying party.
Reason Selling: Retirement.
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