Think Big, Buy Small A Seller and Business Broker’s Perspectives
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Aug 19, 2024 Greg Edwards, Founder & CEO of Onsight Healthcare, shares his entrepreneurial journey from sales to building a healthcare business. Joined by Jim Cumbee, an experienced M&A advisor, they discuss the crucial roles of sellers and brokers in the business sale process. Topics include the importance of adaptability in small business, navigating post-pandemic challenges, and how personal engagement can enhance business relationships. They also explore strategies for maximizing business value and the nuances of evaluating potential buyers.
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Client Acquisition
- Onsite Healthcare primarily attracts hospitals with existing parking problems or those dissatisfied with current valet services.
- Their email marketing proves effective, with potential clients often expressing immediate need.
Customer Engagement
- Buyers should engage directly with customers and understand their needs.
- Running a business remotely without direct interaction can hinder growth and rapport.
Valuation
- Onsite Healthcare's profitability is around $2 million annually, having doubled in the last five years.
- Jim Cumbee estimates a potential selling price in the 6-7x EBITDA range, influenced by factors like recurring revenue and scalability.