Virtual Employee Screening Firm with Long-Term Commercial and Government Contracts and 97% Repeat Customer Rate
The Virtual Employee Screening Firm is a twelve-year-old company that specializes in background screening for their clients. They have a comprehensive network that investigates key background profiles, including criminal records, driving records, credit reports, and employment verification. The firm has long-term relationships with clients in the commercial, healthcare, and government sectors, and boasts a 97% customer retention rate.
OPERATIONS
The Virtual Employee Screening Firm is a leader in equipping customers with key information needed to make wise hiring decisions. Their top-notch background screening network includes hundreds of links to county, state, and federal record sources, leading to a very thorough and rigorous screening process. They use advanced internet-based technologies to ensure their reports are delivered accurately and at a competitive price. They have developed specialized programs for screening personnel in contract security, health care, hospitality, and gaming facilities.
The Virtual Employee Screening Firm is a virtual firm, and easily relocatable, making it an easy turn-key opportunity. The company has a team of contractors to perform record checks through its network of contacts in jurisdictions that do not make records accessible online.
MARKETING AND KEY METRICS
The Virtual Employee Screening Firm has a 97% customer retention rate, which is a testament to the quality of their work. They receive referrals from existing customers and have almost no sales efforts by the owner.
The Virtual Employee Screening Firm has a proven track record of customer retention. Their clients come through referrals, and the owner spends less than 5 hours per week managing the business, indicating a significant opportunity for growth through expanded sales efforts.
The company has a proven, multi-year track record. 2021 sales are almost in line with historical levels, and trends show solid growth for each quarter. 22% of revenue over the past 12 months has come from multi-year government contracts, while approximately 73% has come from eldercare businesses and the balance from other commercial clients. They have four government contracts and 79 commercial contracts.
The Virtual Employee Screening Firm has long-term contracts with clients in the commercial, healthcare, and government sectors. Their clients come through referrals and have a 97% customer retention rate.
BUSINESS MODEL & RESOURCES NEEDED
The company has a full-time general manager who has been in the role for several years and a team of contractors to perform record checks through its database of XML links and through its network of contacts.
THE INDUSTRY
The Virtual Employee Screening Firm operates in the background screening industry. Their clients have included some of the largest providers of contract security to the United States government. The business uses the most advanced internet-based technologies in order to ensure its reports are delivered accurately and at a competitive price. They have developed specialized programs for screening personnel in contract security, health care, hospitality, and gaming facilities.
OPPORTUNITIES TO SCALE
The Virtual Employee Screening Firm has the opportunity for scale with expanded sales efforts and the ability to offer its services to any governmental entities in Washington and Montana, where it is a preferred vendor. They are also in a position to gain new franchisee clients as a preferred vendor for a larger organization with over 1,000 elder care franchisees.
Asking Price: $375,000
Gross Income: $444,552
Cash Flow: $89,544
Year Established: 2009
Employees: 5
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