Food Catering Business, Florida Medicaid Provider,

Business Overview:

(1) The business being sold. This is a catering business, dedicated to preparing and distributing food to seniors and disabled people approved by Medicaid. The business has licenses, equipment, employees, suppliers, technological systems, and vehicles to prepare and transport meals and the most important thing is that it is registered as a provider with the Florida Department of Health and the Medicaid Program.

(2) Florida Medicaid Program. As per law, the Florida Medicaid Program delivers meals to eligible seniors and people with disabilities as part of a Medicaid long-term care services plan to assist participants in remaining in their own homes. The provision of home-delivered meals reduces the reliance on paid staff during some mealtimes. The Florida Medicaid Program is administered by the Florida Health Department and covered by Insurance companies.

The participants (seniors or disabled) select the insurance company with the Medicaid Program; the insurance company selects the Catering Food Service Business, and they sign a food service contract; the Catering Food Service Business delivers the meal to the participant; the Catering Food Service Business is paid by the insurance company and the insurance company is paid by the Florida Department of health. 

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Property Features and Assets:

(3) Business operation. Currently, the business delivers/sells 720 meals daily. Food preparation begins at 2:00 pm and continues until 2:00 am, with 5 employees. Delivery begins at 4:30 am, with 7 drivers delivering 510 meals door-to-door on many routes throughout Miami-Dade County. Additionally, a driver in a VAN delivers 210 meals to a specialized senior center in Miami-Dade.

Delivered meals have varying times weekly, varying diets (protein, carbohydrates, fruits, liquids, etc.), and varying units/prices. After delivery, the monthly insurance billing process begins. All the business steps are managed through company-created applications and software and owned by the business. There is a customer service person who deals with participants and insurance companies.

This business works in semi-automatic mode, the owner dedicates only a few hours of work per week.

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Market Competition and Expansion:

All income comes from insurance companies, and all expenses are paid via bank transfers, credit cards, and Zelle. Therefore, all operations are recorded in the bank statements.

(4) The selling process. This is a STOCK SALE, as long it is not possible to transfer the multiple and complex licenses involved. The owner agrees to have up to 5% of the net proceeds held in escrow by the closing agent to secure any debt that may arise. The owner can stay with the buyers for 90 days, so the buyers will have a smooth business transition.

There are two entities involved in the management of this business, in an interconnected way. These two corporations will be sold together. After closing, the Buyer can merge both corporations, but is not recommended. The sale price includes both corporations.

The seller is willing to consider some Seller Financing.

Reason for Selling:

Moving out Miami, Dade County.

Additional Details:

Documents:

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