Hello to everyone in the Million Dollar Community! As always, I hope this message finds you all doing well, and business is booming!
First and foremost, let's talk about the elephant in the room! Anyone noticing the plummeting markets? It's just the beginning, folks! I love how even the fake news lame stream media is calling it the "Kamala Crash!" Love it!
Some very important things regarding the Kamala Crash:
1. For how long have I been saying you NEED to be in strong positive cash-flowing businesses! More specifically, it needs to be profitable and you need to get paid frequently.
I recently created a video discussing the new broker trying to peddle Net 30 terms for new transportation providers. NO WAY, man! Not an option. You gotta be profitable and you gotta get paid frequently.
For home care, most waivers pay every two weeks which is great, but you should also want private pay clients to pay within Net 15 as well - if not weekly.
2. If you're dealing with Medicaid brokers in your NEMT business, you better be getting ready to push for a rate increase and/or be more strategic in the trips you accept. You NEED to be profitable in everything you do. I know you're sick and tired of hearing me say this, but this is exactly why you need to create your own direct-pay contracted agreements.
In regard to our buyer, he is looking to purchase an existing business, or businesses depending on size, in either Florida or South Carolina. He is definitely open to purchasing more than one business, but they definitely have to be in the same state.
1. IF, IF, IF you are a motivated seller in either state, and you have a legitimate business that's not all brokered-up, feel free to contact us and we'll send you some preliminary questions.
Note, our buyer has no problem with some broker-based work, but we'd like to see that it comprises no more than 25% of total revenue.
2. IF, IF, IF you're not prepared to invest in an executive business valuation, then no need to apply.
Sorry, but just like we vet our buyers to ensure they have cash in hand, we need to vet your business to ensure it's legit. I don't care what you're attorney or accountant says or what you believe your business is worth, I have to conduct a business valuation. That's what our buyers place stock in.
There's too many providers making $50k and thinking their business is worth $5 Million. Dude...... SMH.
Contact us only if you are serious and you are located in either SC or FL. Our buyer was born and raised in SC, but he has family in both states. Hence, the reason he's willing to consider both states, but again, if he purchased more than one business, they need to be in the same state to make managing and merging them more feasible.
See you at the Top!
Joel E. Davis
PS: As the saying goes, "Keep your powder dry," and stay focused on positive cash flow!
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