In-Home Senior Care Services - Managed Remotely

Business Overview:

This in-home senior care business is selling at a 3.1 multiple with substantial growth opportunities! Serving Southeast Nebraska and Southwest Iowa, clients are mostly private pay and the majority of payments are through personal estates. Current hourly charge is $24-$30 with some clients needing 24/7 care, and they are poised to increase gross revenue in January 2021 with a price increase to $25-$35/ hour. The owner has worked out of his home for 10 years and a new owner can manage the business remotely. The protected territory of this franchise includes Southeast Nebraska and Southwest Iowa for a total of eight counties and the franchise agreement was recently renewed for another 10 years. Revenue is split 51% Nebraska counties and 49% Iowa counties; however, much of the region has been untapped, leaving plenty of room for growth within the current service area including Northwest Missouri.

The company provides services like cooking, light housekeeping, shopping, personal grooming, doctor visits and other non-medical assistance including overnight care and 24/7 care. Their 28 peer caregivers - with a third of them having a 5 year tenure - are paid hourly and are assigned to clients within their driving radius. With no physical office space, they have little to no overhead and employees considered part time, do not receive health benefits. The company has 2 owners, but only one of them is involved in the day-to-day operations and oversees HR, services, financials, the office, marketing efforts, as well as client relations. The team also includes a part time scheduler who handles payroll, scheduling, and billing.

Priced at $465,000, a 12.5% down payment of $58,125 returns $91,649 in the first year after debt payments – a 158% return on investment! Business is currently booming because most clients who would have gone into nursing homes or rehab facilities are now seeking in-home care. This company is having to turn down 2-5 potential clients on a weekly basis due to lack of caregiver capacity. There is a lot of potential to grow this business to $500K- $1M by hiring more caregivers and expanding services to cover the Missouri area.

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Reason for Selling:

Retirement

Additional Details:

Documents:

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