Thriving Home Health Care Business
MedicalFor Sale in Southern Maine, ME
Financial & Assets Details
About the Business
The mission of this caregiving business is to enhance the quality of life for clients and their families through respect, compassion, commitment to safety and high-quality care. The company is built from experience and exceeds traditional expectations of a home care provider. The commitment to client safety and quality care is the foundation of the business.
The business serves aging adults from age 60 and up who primarily live in their family homes as well as residents of independent, senior living and memory care communities. Clients come from key referral partners and existing clients and their families. Caregiving services are available 24 hours a day, 7 days a week, serving the southern Maine area.
Caregivers are thoroughly screened and trained to provide the highest quality of care. The process is comprehensive and includes drug screening, background check, credit check, reference check, and multiple personal interviews.
One of the oldest populations in the nation, Maine currently has over 250,000 people over the age of 65, representing about 18.8% of the population and providing many opportunities for growth for home care providers.
Growth & Expansion
There are many ways to grow this business. Further developing partnerships with senior living communities to take of advantage care opportunities with their residents could be beneficial. Currently the owner is the only salesperson for the business. Hiring a part-time sales person to develop new business opportunities could free up some of the owner's time while also growing the company. Becoming a certified Medicare agency would allow someone to take advantage of the expansion of coverage for home care expenses by medical insurers. Hiring a part-time registered nurse to complete client assessments and provide new revenue producing services such as case management and medication management may also increase revenue.
High caregiver turnover and finding enough help to meet the demand for care can be challenging. The business has responded to this by increasing hourly pay each year, providing annual reviews and rewarding good work with hourly rate increases. The company offers medical and dental insurance, paid PTO and a 401k plan with a generous company match.
There are multiple other caregiving businesses in the area that provide the same service. The larger franchise agencies benefit from national advertising programs on television and radio. This business has good relationships with some of its competitors and sometimes share or refer clients back and forth.
Sublet office space, but mostly working remotely and could be home-based. The business rarely meets clients in the office. Currently utilizing 67% of the office space.
Support & Training
2 -3 weeks, but longer if paid under consultant contract.
Reason for Selling: