Listing ID: 82819
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 coordinate 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 company was established in 2004, making the business 18 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals choose to sell companies. However, the genuine reason and the one they tell you may be 2 totally different things. As an example, they might claim "I have way too many various obligations" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these might just be justifications to try to conceal the reality of transforming demographics, increased competitors, recent decrease in earnings, or an array of other reasons. This is why it is really important that you not rely entirely on a vendor's word, yet rather, use the seller's answer in conjunction with your general due diligence. This will paint a more realistic picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your deal. Lots of companies finance loans so as to cover points like inventory, payroll, accounts payable, etc. Bear in mind that in some cases this can imply that revenue margins are too tight. Lots of companies come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to consider. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with suppliers that must be satisfied or may lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location bring in brand-new consumers? Many times, operating businesses have repeat customers, which create the core of their everyday earnings. Certain aspects such as brand-new competitors growing up around the location, roadway building and construction, and also staff turnover can influence repeat clients and also negatively impact future revenues. One crucial thing to think about is the area of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Undoubtedly, the more individuals that see the business often, the higher the opportunity to develop a returning consumer base. A final idea is the general area demographics. Is the business located in a largely inhabited city, or is it situated on the outskirts of town? Exactly how might the neighborhood average house earnings effect future revenue potential?
