The company, founded in 2004, offers online mental health continuing education (CE) courses to licensed mental health professionals nationwide who need credits for license renewal. The firm is approved as a CE provider by several prominent national agencies.
The company has been providing continuing education for 16 years by offering an extensive catalog, currently consisting of 184 digital courses. With the ease of use of the platform, the virtual learning environment is more flexible and cost-effective for organizations seeking to train their staff compared to the traditional in-person options. Professionals can complete the requirements at their own pace and access the certificates at their convenience. The course catalog and company’s outstanding reputation have earned them a loyal customer base comprising 16,344 repeat customers.
With projected earnings of $3.5 million in 2020, the firm enjoys healthy financials that are supported by recurring revenue streams and optimized operational efficiency. This performance has been accomplished without any outbound sales efforts, but instead focusing only on SEO and PPC advertising – the Company ranks number one for the most relevant CE search terms including five top national CE keywords. The company has tremendous growth potential going forward, specifically in expanding its course offering by acquiring approval to provide CE’s from other professional licensing organizations and encouraging customer referrals by offering incentives.
The current owners rely heavily on extensively automated processes to oversee the company remotely and work very few hours each week, providing the new owner with a flexible schedule and market reach without being limited by geographical considerations.
- Sixteen years of a proven track record of excellence and growth in the continuing education (CE) space
- The operations have been highly automated and designed to run remotely from anywhere – the owners/directors work very few hours each week, and the only full-time workers are customer service specialists based in the Philippines
- Impressive growth resulting from the increased demand for online CE courses in the wake of the COVID-19 pandemic – while the business was already on a strong growth trajectory of exponential growth, COVID-19 has caused a significant one-time positive shift, advancing the company’s growth a year’s worth in just a few weeks. We expect many of these new customers to become repeat customers
- Strong and consistent financial performance over the period 2017-2020, with a 91% surge in revenue and a 107% increase in Adjusted EBITDA
- Exceptional average Adjusted EBITDA margin of 81%, reflecting superior efficiency in managing operational costs
- This performance has been accomplished without any outbound sales efforts, but instead focusing only on SEO and PPC advertising – the Company ranks number one for the most relevant CE search terms including five top national CE keywords
- Other major growth opportunities include expanding its course offering by acquiring approval to provide CEs from other professional licensing organizations and encouraging customer referrals by offering incentives
- Reputation for offering an impressive catalog of 184 courses, accessible customer service, and user-friendly platform
- Provider approval from major approval boards for mental health professionals such as the American Psychologists Association, the Association of Social Work Boards, and the National Board of Certified Counselors
- Loyal customer base comprising 16,344 repeat customers generating recurring revenue for the business
COVID-19 induced a disruption that has boosted demand for the company’s courses. The firm has seen a surge in sales due to the general increase in demand for remote learning and training services resulting from social distancing practices. As online courses provide a convenient and cost-effective option for organizations, they are expected to continue using the firm, especially after witnessing the many advantages that it offers as compared to traditional CE providers.
The company is for sale for $25,000,000.
|Years in Business||16 Years – Since 2004||Ownership||100%|
|Employees||– 3 full-time customer service workers based in the Philippines;
– 1 part-time Social Work Consultant;
– The 4 owners work part-time.
|Facilities||Business is run remotely|
|Inventory||Unlimited (All digital)||Reason for Sale||Owners plan to put all their focus on growing their separate business|