Website Closers® presents an Online Job Recruitment Firm for sale that connects employers within the Health Care Field with proficient job seekers. Their platform facilitates the hiring process for Physicians and Registered Nurses, offering employers swift access to top-tier candidates. The service has garnered significant demand since its inception, primarily due to the widespread shortage of medical professionals in all 50 states. Leveraging a seamless online platform, the company streamlines the process of posting job openings and effectively markets them to potential candidates through popular industry-specific job boards.
Business Broker Takeaway
Our analysis of this business shows that the value propositions present are strong for a first-time buyer looking to get into the online space. We are excited about this business for 3 important reasons:
- Low Work Requirement. If you want to buy this company “on the side” while you continue to run other companies or continue employment, this is a good one for you. The current operation requires very little of ownership – processes and systems are fully set up and run by a team of low-cost Virtual Assistants.
- High Margin. It is hard to find a business for sale in the digital sector that has Net Profit Margins exceeding 75% where the business isn’t totally operated by ownership. In this case, VAs do all the work. That leaves a tremendous amount of cash and time available to ownership to grow the business.
- Growth Opportunities. The business is already reviewing software and services to scale beyond its current footprint. With $560,000 in revenue already in the pipeline and tremendous margins, growth can be a focus of a new owner in the first 90 days.
Proliferating Market
The agency operates in the healthcare industry, one of the world’s largest and most rapidly expanding sectors, which in the US alone comprises 14% of the workforce and employs a staggering 20 million individuals. Moreover, it witnesses an immense 1.2 million job openings annually. Healthcare expenditure accounted for 18.3% of the country’s economy in 2021, generating a revenue of $4.3 trillion.
The persistent scarcity of physicians and nurses nationwide has intensified the demand for sophisticated job placement services capable of assisting healthcare facilities in sourcing the necessary talent. This business has adeptly developed a process to fulfill this need, yielding impressive results.
Operations & Valuation Points
The agency boasts a proficient team of virtual assistants tasked with sourcing candidates through a diverse array of employment platforms. This encompasses general job recruitment sites as well as specialized platforms catering specifically to professionals in the medical field. The team strategically garners meaningful referrals by leveraging these platforms and the National Coalition of Health Care Recruiters website, effectively casting a wide net to identify top talent for its clients.
Stringent SOPs enable the company to streamline and automate the entire process, meeting the needs of both healthcare organizations and job applicants alike. They maintain active email correspondence and outreach with clients seeking to fill positions and engage with all applicants, including conducting follow-up calls to ensure sustained interest from both parties. Additionally, the agency remains proactive in reaching out to new candidates, ensuring a continuous influx of potential hires.
The well-established system consistently delivers favorable outcomes for both clients and candidates. Furthermore, the current ownership has significantly improved its website, transitioning it to Zoho Recruit. This upgrade provides an extensive suite of advanced tools for candidate sourcing, including an applicant tracking system. Subsequently, it has immensely facilitated the virtual assistants’ locating new applicants while reducing overall expenses.
Clients & Revenue Generation
Since its inception, the company has been committed to providing healthcare facilities with an experienced team of Physician Recruiters, offering invaluable resources and dedicated assistance. These facilities encompass medical centers, long-term care centers, public and private hospitals, private practices, and urgent care centers. These establishments gain access to a pool of top-notch talent through the online platform, which is especially crucial when seeking candidates with specialized medical expertise.
The company operates on a contingency basis, initiating free search efforts until they successfully identify the ideal candidate, at which point their contracted fee comes into effect. These contingency partnerships within the healthcare industry have bolstered its reputation significantly in a sector that continues to experience rapid growth, particularly with the aging population of Baby Boomers requiring increased medical attention.
Candidate Sourcing
The website is tailored to streamline the process for job seekers, allowing them to submit their applications easily. Following this, candidates are promptly engaged through targeted emails, initiating a personalized communication journey.
By leveraging Doccafe and NAHCR as their primary platforms for sourcing new candidates, the business can swiftly identify potential hires through a straightforward Google search. Additionally, it benefits from referrals from representatives of medical device firms, who maintain regular contact with healthcare facilities seeking expansion by recruiting new physicians. Notably, the company boasts an impressive 89% conversion rate for candidates applying to job listings via Doccafe.
Furthermore, management is exploring avenues through LinkedIn automation software designed to aid businesses in recruiting candidates. This initiative is anticipated to enhance the agency’s visibility among doctors and nurses active on LinkedIn seeking new opportunities. Additionally, it will effectively expose the brand and its services to a broader audience of passive candidates considering embarking on a job search in the near future.
With minimal manual intervention required due to its highly automated nature and comprehensive Standard Operating Procedures in place, this business is primed for further growth, especially considering the escalating demand for qualified Physicians and Registered Nurses in the foreseeable future.
