Listing ID: 82806
Business Overview
When you choose this award-winning Homecare Agency, you are choosing to make a difference in the lives of those in need. This home care franchise provides the qualified care and assistance that brings peace of mind to families throughout our region. Our private duty care services make it possible for seniors to continue living at home where they are most comfortable.
With an affluent and protected service area comprised of more than 70,000 senior citizens, this agency has continued to grow during the pandemic with a 9% revenue and earnings growth in 2021 and is well-positioned for ongoing growth. Expanding demand is coming from aging baby boomers and families opting for the safer alternative of home-based care compared to living facilities.
The company provides non-clinical, compassionate care for geriatric clients and military veterans. Most clients self-pay for services either out of pocket or with the help of a long-term care insurance policy. Therefore, the Company is not beholden to contractual reimbursement rates at a time of high inflation.
The company culture is centered around Purpose, Passion and Profit. The purpose is to keep seniors safe and comfortable at home. The passion is an office team and caregiver workforce that loves what they do. The profit is an unapologetic pursuit of high margins that enable award-winning care. The company is exceptionally profitable.
The company seeks a high fit, aspiring Managing Owner capable of preserving its compassionate care culture while keeping it on the high growth track.
Financial
- Asking Price: $1,425,000
- Cash Flow: $384,190
- Gross Revenue: $2,905,113
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2004
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:90
- Furniture, Fixtures and Equipment:N/A
A high-performance team of 7 office staffers coordinates care from a fully equipped, centrally located office.
Industry experience is not required. Comprehensive training, mentorship and transition support will be provided by the Seller and franchisor.
Retirement
Senior homecare includes in-home care and facility settings like residential care communities and assisted living facilities. In-Home Care is preferred by the vast majority.
By 2030, all 83M US Baby Boomers will be age 65 or older.
Additional Info
The business was started in 2004, making the business 18 years old.
Why is the Current Owner Selling The Business?
There are all types of reasons people resolve to sell companies. Nonetheless, the genuine factor and the one they say to you might be 2 completely different things. For instance, they might state "I have a lot of various obligations" or "I am retiring". For lots of sellers, these factors stand. However, for some, these might just be justifications to attempt to conceal the reality of changing demographics, increased competition, current reduction in incomes, or an array of other factors. This is why it is really important that you not rely totally on a seller's word, however instead, utilize the vendor's solution combined with your overall due diligence. This will repaint a more realistic picture of the business's current circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your offer. Numerous companies borrow money so as to cover things like supplies, payroll, accounts payable, and so on. Remember that in some cases this can mean that profit margins are too tight. Lots of businesses come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to consider. There might be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with suppliers that must be satisfied or may result in fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area attract brand-new consumers? Most times, operating businesses have repeat consumers, which create the core of their daily earnings. Certain aspects such as brand-new competition sprouting up around the location, roadway building and construction, as well as staff turn over can impact repeat clients and adversely influence future profits. One important thing to consider is the area of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Clearly, the more people that see the business often, the greater the possibility to build a returning consumer base. A last idea is the basic area demographics. Is the business located in a densely inhabited city, or is it situated on the outskirts of town? Just how might the local mean house income influence future earnings potential?
