Listing ID: 77318
Business Overview
Confidential Information Memorandum (CIM) available upon receipt of our short online NDA – visit here: https://pronovapartners.com/engagement/video-recruiting-app-for-sale/
Our clients business is designed specifically to help small-to-medium sized businesses recruit smarter and more efficiently by utilizing the power of one-way video interview technology. With the recent pandemic and the rapid rise of Work From Home, this app is the present and future way of recruiting and is especially useful for the initial screening phase allowing hirers to screen a larger number of applicants in less time whilst gaining a greater insight into their candidates than through resume alone.
Most of the “interview” apps currently in the marketplace are designed, and priced for, large corporations. They can have complex onboarding and include so much functionality and integration that it can overwhelm the user. Such apps are also subscription based which proves expensive for small-to-medium sized businesses which aren’t continually recruiting. These type businesses usually have no internal recruiting staff and therefore cannot justify the time or financial commitment to these types of products. Our system is intuitive and simple to use for both recruiter and applicant and includes simple applicant tracking, thereby providing a prescribed recruiting system for businesses which may not have such a system in place.
Our Client’s app has a very unique feature, which is the job specific email address. Each client using the app, and each job created per client, is issued with a job specific email address. This email address is used when advertising a job vacancy on any job board, social media, the press or on the company website etc. When a candidate applies for the job vacancy their resume and any other application material is automatically stored neatly under the job listing in Outsource Screening.
The App incorporates an auto response mechanism that can be configured to automatically invite the applicant to take a one-way video. When the applicant completes the video, the hirer is notified so they can review. The use of video gives the hirer a much greater insight into their applicants allowing them to assess things such as their personality, communication skills and likelihood to fit into their company culture – things that are much harder to assess through a resume alone.
Our Client’s app the only one-way video interview recruiting App on the market offering a unique pricing structure. This is much better suited to the small-to-medium sized business allowing them to “pay as they go”. After purchasing the App, reviewing a one-way video interview costs one interview credit. The initial purchase price includes a number of interview credits and further credits can be purchased as and when needed. Our client does not follow a subscription model, which means that the small-to-medium sized business only pays for interview credits when they are actively recruiting.
NDA is required ‘LINK ABOVE} to secure comprehensive Confidential Information Memorandum (CIM) crafted by ProNova Partners.
Financial
- Asking Price: $240,000
- Cash Flow: $10,000
- Gross Revenue: $12,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2019
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
Web Based
As needed – specific terms for transition support can be negotiated. The Seller wishes to facilitate a successful and smooth transfer of the Business.
The Owners wish focus on other projects.
No competitor in the market offers the features or pricing model as does our client’s app.
Our Client’s app is designed for use by small to medium sized companies, of which there are millions of in the marketplace.
Additional Info
The venture was established in 2019, making the business 3 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals decide to sell companies. However, the genuine factor vs the one they tell you might be 2 entirely different things. For instance, they might say "I have way too many various commitments" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these may just be justifications to attempt to conceal the reality of altering demographics, increased competitors, current decrease in revenues, or a range of various other reasons. This is why it is extremely vital that you not count totally on a vendor's word, but rather, utilize the vendor's response in conjunction with your total due diligence. This will repaint a more reasonable image of the business's existing scenario.
Existing Debts and Future Obligations
If the current business is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your deal. Numerous companies take out loans with the purpose of covering points such as supplies, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can indicate that profit margins are too thin. Numerous organisations come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future obligations to think about. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that have to be fulfilled or might result in fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location draw in brand-new consumers? Often times, businesses have repeat consumers, which form the core of their everyday earnings. Certain aspects such as new competition sprouting up around the location, roadway construction, and also staff turnover can influence repeat clients and adversely affect future incomes. One important thing to take into consideration is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more individuals that see the business regularly, the greater the chance to construct a returning consumer base. A last idea is the general area demographics. Is the business situated in a largely populated city, or is it located on the outside border of town? Just how might the local average house income impact future earnings potential?
