Profitable, Established Digital Court Reporting Firm
Location: Cook County, IL
Industry: Legal Services
Listing ID: REJ-2023-10
Listing Status: New
• Established business, 11-year operating history
• Virtual business model
• Recession resistant
• Long-term clients
• Attractive margins
• Minimal fixed costs
• Significant growth opportunities
Our client, Project Video, is a boutique digital reporting agency that has served attorneys and law firms in the Chicago metro area and surrounding suburbs for the last 11 years. With over 56 clients and six digital reporters (legal videographers), it is one of the leading digital reporting agencies in the Chicago metro area.
Project Video is projecting 2023 revenues of $373,000 and Seller’s Discretionary Earnings (SDE) of $145,000. Revenue in 2022 was $315,748, and SDE was approximately $67,300.
The company operates with two full-time employees (including the owner) and six digital court reporters. All of the company's reporters, legal transcriptionists, and mechanical editors are independent contractors.
Project Video’s management team works from home and operates the business remotely. It has no administrative offices or conference space, contributing to its minimal fixed costs and high seller discretionary earnings.
Project Video has a diversified list of 56 law firm clients, including 45 recurring or repeat clients. The average client tenure is over four years. The company secured 11 new clients in 2023 despite doing virtually no marketing. All of its clients come from the company’s website and referrals. The company has served 105 clients in the last three years.
Growth opportunities include basic marketing to attract new clients, reaching out to existing clients to get more business from them, and taking on clients in other parts of Illinois, Wisconsin, or surrounding states.
The company’s owner is interested in selling so she can spend more time with her young family. She is willing to stay involved after the sale for a transition period of up to three months.
Seller financing of a portion of the purchase price may be available depending on the buyer’s background, experience, and credit rating.
Total Sales: $373,000
Cash Flow: $145,000
FFE Included: Yes
Type of Location: Home office
Owner Qualifications: No specialized knowledge, skills or experience required.
No specialized knowledge, skills or experience required.