Website Closers® presents a seasoned industry leader of online lab testing services. The offering of two sister-company websites provides an array of investigative laboratory tests that screen a patient’s general health and wellness, measure hormone levels, and test for sexually transmitted diseases. With a full range of over 650 laboratory tests available from allergy testing to cancer detection screening, the company enables clients to be proactive in managing their own health.
Physicians rely on clinical laboratory diagnostic testing to diagnose complicated medical conditions and guide life-saving therapies. The Company delivers these same state-of-the art lab procedures directly to the public – confidentially, conveniently, and affordably – complete with a requisition for testing and no hidden fees. Unlike other online lab testing sites, the Company has a sixteen-year relationship with approximately 2,000 labs across the country to allow users to choose a location most convenient to them to have patient specimens collected.
The Company is an Internet storefront that allows clients to buy almost any routine blood test that a physician may order, in addition to many specialty tests, with tests being fulfilled by either Quest or LabCorp—the two largest and most prestigious national labs. Whereas a typical lab visit first requires a visit to a primary care physician, the Company has a long-term contracted relationship with a nationwide physician’s network, which allows the Company to provide the physician’s order for lab testing.
This arrangement saves the expense and time of going to the doctor’s office, all while offering less expensive lab tests, more privacy, more convenience, and faster service. Further, this contracted relationship allows non-medical personnel to own, manage and run this type of business. The business model DOES NOT require a medical license of any sort.
Founded in 2006, the Company generates average customer order values of $140 and a 66% gross margin. The evergreen need for the services provided drives a high repeat customer rate. The average customer orders approximately six times over a lifetime, for an average customer value of $840 and is highly stable, producing consistent annual sales of $3-3.5 million from an anemic historical marketing budget of only 3-4%. This efficient combination drives a superior bottom line of averaging 39% year after year – all with the seller working just 10-15 hours per week.
For years, the Company has provided a stable seven-figure income for ownership, with a minimal marketing budget. Now ready to retire and see the world, the Seller is looking to hand the Company over to a motivated buyer that is ready to scale the Company to new heights.
Current ownership manages the team of customer service agents and the software suite as well as oversees directional tasks and overall business growth plans. In addition to the owner, this company leverages five full time employees, including a Controller/General Manager, three Customer Service Representatives, and one individual who manages and posts lab results received throughout the day.
This company is optimized for profitability, showing 39% Net Margins, a minimal staff and leveraging a strong set of optimized software to keep operations humming at minimal overhead cost. The focus on direct-to-consumer sales has enabled the company to forge a strong and lasting brand relationship with its customers while maintaining high margins and a constant stream of repeat customers. This impressive and strategic lab testing company drives incredible revenue while carrying boundless potential.
As an industry leader with a loyal following, this acquisition is well positioned to grow rapidly with the steady hand of a new owner to take it to the next level.
Immediate growth for this promising company can be easily achieved through a targeted marketing and social media campaign to drive awareness of the service. There is an extremely high likelihood of potential customers having very high interest in the Company’s services if only they knew this service was available. However, due to limited marketing and awareness, a large majority of potential customers do not know online lab sales even exist. Other avenues for growth would be in offering supplement lines from the websites. These supplements could easily target clients based on the types of testing they purchase. DIY home testing kits would also be an obvious product expansion. With limitless opportunities for scaling and unparalleled margins, this exclusive opportunity is an extraordinary investment for any capable buyer.
