Seller's Contact Information
- RE: Top Rated Home Care Franchise In Rhode Island
- Contact: Harry Dermer
Quick Facts
Asking Price: | $399,000 | |
Annual Revenue: | $1,057,280 | |
Net Profit: | Not Disclosed | |
Cash Flow: | $183,000 | |
Total Debt: | Not Disclosed | |
FF&E: | Not Disclosed | |
Real Estate: | Not Disclosed | |
Year Established: | 2018 | |
Employees: | 35 | |
BBN Listing #: | 113931864 | |
Broker Reference #: | HCRI |
Business Overview:
This is a five-year-old Private Duty Home Care Agency, part of nationally known, top-rated franchise brand serving the entire Rhode Island. The company offers affordable services for seniors and their families who require assistance with meal preparation, medication reminders, bathing or personal cares, grocery shopping, light housekeeping, errands, Alzheimer's care, or companionship in order to remain happily & safely in their homes.
There is a great growth opportunity in the fact that even though this franchise office currently offers non-medical services, the franchise model provides the ability for owners to pursue additional revenue streams in the areas of Placements and Staffing, if they so choose. The franchise territory is larger than an average-sized home care franchise since it encompasses the entire state of Rhode Island, with 243,523 seniors over 60, which is 23% of the population . This business provides services to one of the most demographically attractive senior care markets in the Country, ranked #14 nationally by percent of population age 65 and over
Throughout its 5-year operation, the Company has become the industry leader in the local senior care community. Its excellent reputation in serving clients and with its employees, has earned this company solid relationships with professionals in the health care and senior communities. Revenue mix is divided 50% from Long Term Care Insurance and 50% private pay and the company is the leader in Rhode Island for long term care insurance cases.
The service market includes a number of large hospitals, senior centers, assisted living communities, nursing homes, hospice, skilled home care agencies, memory care and skilled nursing facilities. The Business has established National referral sources, a database of local referral sources, and 40 hired and trained Caregivers on payroll. This business requires no prior home care/medical experience. Training, guidance & ongoing support will be provided by the Franchisor and the seller is willing to negotiate transition & ongoing training, as well as a consultant role after the sale.
The Company competes with other national and local businesses and sole proprietors providing home care services. Seniors and disabled adults who are 65 years and older comprise the primary market for the Company, as well as a smaller portion of younger adults with some form of disability or illness requiring assistance with daily living.
The home-care industry has exploded with the aging population. Today, with 10,000 Americans turning 65 every day, the demand for senior care is ever increasing. The US senior population currently sits at approximately 50 million and by 2030, it is expected to swell to 81 million (Source: US Census Bureau). An estimated 70 percent of people over 65 will require home-care services at some point in their lives.
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Market Competition and Expansion:
Excellent
Reason for Selling:
Personal
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is a franchise resale opportunity
Documents:
Relevant Links:
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