A successful health care provider was looking to expand for the first time to a new market out of state. The company had grown to be very profitable and scalable, but the expansion to a new market presented risks with additional real estate investment, operational changes as well as new challenges the company had not dealt with before in its history. A significant misstep could have damaged the existing business.
After gaining a thorough understanding of the inner workings and key drivers of the business, Fintrepid Solutions developed a very detailed, comprehensive business model for the expansion, providing clarity into pricing and margins, break even points, ramp to profitability and capital investment required. Through an evolving process with regular iterations, the model was refined with the team to form the basis for the capital plan and first year budget of the new market.
Leveraging experience with multi-state, multi-location companies, Fintrepid Solutions provided numerous financial, operational and legal recommendations to the CEO and management with respect to roll out timing, execution, risk areas to monitor and reasonable expectations for performance. Many questions were posed to the leadership team that had not been asked before, leading to new strategies and a template for growth that will fuel further expansion.
The company successfully opened the new market on schedule and was able to fund the expansion with internal capital and favorable terms from its bank. Budget targets were established for the market management teams and performance has exceeded plan by over 25%. The core business has maintained its strong performance and future expansion markets are in development.GROW BOLDLY fintrepidsolutions.com