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Court Reporting / Transcription Services
NCListing DetailsOffice ID: COURT1
Status: Sold
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $800,000
Cash Flow: $202,000
FF&E: $20,000
FF&E Included: No
Financing/Terms:
Seller will provide some financing to qualified buyer.
Reason for Sale:
Growing firm requires more time than owner can provide. Minority partner at true retirement looking for liquidity.
Training:
Seller will provide adequate transition support.
OperationsYear Established: 1969
Last Acquired: 2005
Form of Ownership: S Corp
Employees (full-time): 1
Business Hours: M-Th 8:30-4:30 F 8:30-4
Summary
Business Description:
This firm provides transcription services primarily in North Carolina with the ability to serve all markets via reciprocal agreements.
Historical Summary:
Originally formed in 1969 by local court reporter. Sales grew steadily over the years to ~$450,000 when current owner purchased the business. Current owner subsequently acquired a similar business in Charlotte, NC (which is included in this sale) and continued to grow sales to current levels.
Owner Qualifications:
Current owner spends on average 10 hours per month absentee overseeing operations. Highly qualified and tenured staff 'carries the water' on a daily basis and significantly limits the responsibilities borne by owner.
Competition:
Highly fragmented dominated by small companies. Competition based on price and locale. Relationships are key. This firm has very loyal clients who have traded with them for many many years.
Potential Growth:
Current owner spends on average 10 hours per month absentee overseeing operations. Highly qualified and tenured staff 'carries the water' on a daily basis and significantly limits the responsibilities borne by owner.
LocationReal Estate for Sale: Yes
Option: not currently
Lease Security: $3,000
Monthly Rent: $3,000
Square Footage: 1800
Facilities:

Owner occupied stand alone office building on major thoroughfare. Sublet with 5 offices, conference room, reception, kitchen and two bathrooms.


Last Updated: Dec 18, 2017 / 11:53 AM
Financial Information Current as of: Jul 23, 2013 / 2:17 PM