| Business Description: |
This 30 year old language services business, which can be operated from anywhere in the United States, and does not require industry experience or linguistic skills, provides four primary services:
On-Site Interpretation:
From hearings & depositions to medical appointments & conferences, the company provides an extensive offering of on-site interpretation services. The business' interpreters are Federal Court Certified, State Court Certified, State Court Registered, State Administrative Hearing Certified, or State Medical Certified. Government security clearances are also available.
Written Translation:
From comprehensive websites to legal and medical documents, the company translates client texts through a quality assured methodology, exclusively by native speakers of the target language ensuring that linguistic subtleties and nuances are maintained. Every document produced by the business has undergone a strenuous and proven QA/QC process that also includes editing and proofreading.
Phone Interpretation:
The company provides over-the-phone interpretation and has the capability to provide phone answering and connection services by in-house staff. Over-the-phone interpretation services are provided in over 170 languages for a variety of industry sectors including insurance adjusters, doctors, lawyers, businessmen, and government agents.
Multilingual Transcription:
The business' transcribers take multilingual recordings on DVDs, audio tapes, video tapes, mini-cassettes, and electronic files and convert them into written format. Translators take that multilingual text and translate it into English enabling an efficient work-flow. In addition, the company provides multilingual media services including voiceovers and subtitling.
The business provides services to the following business disciplines:
• Legal
• Insurance
• Government
• Medical
• Finance
• Energy
• Aerospace
• Human Resources
• Travel
• Entertainment
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| Historical Summary: |
This is a 31 year old business that is owned by the original founder. What initially began as a one-man show has transcended into a full service company where a wealth of professionals help deliver the outstanding services for which the company is known. The established loyal customer base, some of over 20 years, has been a reliable source of repeatable business that has been responsible for generating the returns during the owners (recent) reduced involvement. A new owner who has the interest and passion to grow the business and take it to the next level will find this a compelling and a one of a kind opportunity. |
| Owner Qualifications: |
A language services background, industry experience, or multi-lingual skills are not required or a prerequisite to be a successful steward of this business. This is a turn-key operation with long standing management in place. The majority of interpretation, translation, & transcription work is outsourced leveraging a comprehensive proprietary database of over 3,200 certified, registered, and accredited linguists. Given this model, the company can easily and effectively be operated from anyplace within the United States. Additionally, with the Director of Operations fulfilling the role of General Manager the business could be managed on an absentee owner basis. |
| Competition: |
This industry is not without competition but the growth this sector has seen as well as the positive outlook for the future mitigates the hurdles to developing the business and bringing it to new heights. The established base of long term clients and impeccable company reputation provides a solid launching pad to grow future revenues. |
| Potential Growth: |
While the interpretation & translation industry is little known in the United States it is a very profitable sector, in an industry growing at an annual rate of 13.15%. In the last 2 decades globalization has spread in the lives of people residing all over the world and has entered all spheres of life. It has also made a significant impact on commerce and business. Now all small and big commercial firms as well as consumer service providers are collaborating with each other irrespective of being based in different countries and continents. Language translation firms have achieved great importance in recent years.
The growth of the industry, as well as the role the internet plays in promoting expansion, only perpetuates this upward trend. With the online marketplace getting more diverse, the demand for translation is ever increasing. The language services industry is becoming an ever-growing presence in the global market, and it has never been more necessary than in our present-day society. More and more, people are grasping at just how vital translation is to making everyday life easier. What existed as an officially unrecorded industry up until 20 years ago is now a thriving industry with an expected value of $38 billion in the coming years according to market research firm, Common Sense Advisory. From whichever angle you look at it, translation will inevitably grow due to mankind’s need to communicate with one another.
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| Risk factors: |
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