Ruby Receptionist and Moneypenny dominate the Virtual Receptionist marketplace. Other players, such as Posh, also provide services at a price far below Ruby/Moneypenny, but with far fewer features. I have spent 11 years as CEO of what I turned into the largest Medical-Only call center business in the US, selling the company for a large EBITDA multiple in 2019, finally stepping out in December 2020. I have been involved in doing due diligence for others in this field for possible acquisitions, and have developed a business plan for a new, start up that could compete with the lower price competitors, but offer features that Ruby/Moneypenny don't even offer. Services can be priced at 70% of the big players to compete with the lower priced alternatives, but features are quite rich. After a few years investigating and finally using SaaS and CCaaS platforms, I will use an AI platform for all customer profiles and call distributions. This service provides all needed features from call handling, forwarding, outward dialing, foreign language and chat as well as offering omnichannel (clients of customers can reach them via call, text, email or chat) for all customers. In addition, we will offer transcription of all calls inboun and outbound, summarizing the entire transaction into once, concise note, with automatic upload in the customer's EHR system. In addition, we will have formats for non-medical businesses as well.
In addition, the chosen platform will make a completely separate revenue stream available, which is providing Cloud PBX/ACD to customers to replace their in office phone system. This would be completely unique for the marketplace. Several other revenue streams could be provided, including helping small, local customers by providing not only websites but also local SEO, driving customers to their businesses. In short, a single source to not only drive their presence but also drive customers to contact them, provide the phone systems to handle those calls, and the virtual receptionists 24/7 to maximize their ROI.
Customer APP already created as is the virtual phone system/service needed. I would make hiring retired or spouses of military and first responders a priority. Each agent would work from home, with a terminal I provide that ensures data protection and privacy just as I did in my most recent company.
This is a huge marketplace, with a lot of smaller providers that do not offer feature-rich services. In fact, some rather poorly run ones still create $5MM to $10MM in revenue. I have created a plan that could easily reach $4MM in revenue and 56% EBITDA at the end of year three.
I took a company that had been in business for 26 years and reached $5MM in revenue, completely refocused and reformatted it, and drove it to a $20MM revenue, $5MM EBITDA company before selling it, in a nine year timespan. I have a unique history of telecom and call center business success. I have done two start ups and two turn arounds in my career. I know this market extremely well, and have a winning plan that could have a strong ramp up and, if investor desired, a short exit strategy. Starting from scratch will allow this company to be much more efficient and lean than competitors, while providing unique features.
I will gladly forward detailed financial plan if requested.
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