75-Year Veteran Health Science Book Distribution Business: Print and Digital Sales with 400 Publishers and 3,000 Customers; Low Inventory Risk Model
Website Closers is a 75-year veteran in the health science book distribution vertical, specializing in the print and digital sales mix. With over 400 publishers and 3,000+ customers, they offer a low inventory risk model. The company operates in the field of health science, distributing textbooks to medical, nursing, and educational institutions, as well as libraries, resellers like Amazon, and the US Government.
OPERATIONS
Website Closers operates a traditional print distribution business for health science books, as well as a growing digital platform for eBooks. They have invested over $2.2 million in developing the digital side of the business, which offers access to thousands of health science eBooks from leading STM publishers. Their platform utilizes a powerful search database and proprietary ingestion tool to provide specialized content to users.
Website Closers has a low inventory risk model, as they allow customers to return unsold books for full credit. They also have the ability to return ordered textbooks to publishing vendors for full credit. This practice reduces the risk of unsold books sitting on shelves and allows for efficient working capital and cash flow management.
MARKETING AND KEY METRICS
Website Closers focuses on marketing their extensive selection of health science eBooks, highlighting their high-quality and specialized content. They offer seamless access to eBooks on desktop computers, laptops, tablets, smartphones, and web-capable eReaders, and provide additional enhancements such as deep linking and integrated drug information to enhance the user experience.
Website Closers primarily serves colleges, universities, bookstores, hospital system libraries, and resellers like Amazon. They have a strong sales and customer service backbone supported by Salesforce.com. The company expects to see growth in their digital business, expanding into new verticals and offering digital services to hospital and university systems, telemedicine, clinical, pharmaceutical, and specialized niche content offerings.
Website Closers measures key metrics such as sales revenue from book sales, maintenance fees charged to libraries, and the growth of their digital platform. They also track the number of publishers, customers, and eBooks available on their platform. Return rates for unsold books and the utilization of LIFO inventory accounting are important factors in managing their inventory risk.
Website Closers’ customer base includes colleges, universities, bookstores, hospital system libraries, and resellers like Amazon. They serve a wide range of institutions and individuals involved in healthcare education and research. Their digital platform caters to librarians and researchers seeking specialized health science content.
BUSINESS MODEL & RESOURCES NEEDED
Website Closers has a team of 35 employees, with key employees reporting to the CEO and handling day-to-day operations. They also have a team of customer support specialists who take inquiries and place orders for customers. Digital development is outsourced, allowing the company to focus on core operations.
THE INDUSTRY
The health science book distribution industry deals with supplying textbooks and eBooks related to various disciplines in human and animal healthcare. Website Closers has been a prominent player in this industry for over 75 years and is the largest publisher of health science books in the country. Examples of disciplines in the health science industry include medical, nursing, pharmaceutical, clinical, and telemedicine.
OPPORTUNITIES TO SCALE
Website Closers has significant scale opportunities through the development of their digital platform. The platform is scalable into many other fields beyond health science, allowing for the distribution of digital assets in various verticals. For example, they can distribute VR programs for hospitals or expand into specialized content offerings for dementia caregivers or early cancer screening. The digital platform provides diverse revenue streams and market expansion.
Asking Price: $4,500,000
Gross Income: $40,517,558
Cash Flow: $976,119
Year Established: 1947
Employees: 35
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