Top-Rated Home Care Franchise in Annapolis MD
MedicalFor Sale in Annapolis, MD
Financial & Assets Details
About the Business
Business consists of a single well-established territory that is part of an industry-leading national senior home-care franchise company. The operational area is Anne Arundel County, Maryland, a well-located market for seniors with favorable household incomes. The company is part of nationally known, top-rated franchise brand that is ranked by Franchise Business Review in the top five in terms of growth. Senior care is a $55 Billion recession-proof industry.
The company offers affordable home care services for seniors and their families who require assistance with safety supervision, meal preparation, light housekeeping, errands and transportation, personal care, hospice supportive services and medication reminders. They offer flexibility in providing shifts as short as four hours up to and including full 24/7 service. Seniors who are 65 years and older comprise the primary market for the Company.
The service market includes a number of large hospitals, senior centers, assisted living communities, independent living communities, nursing homes, memory care and skilled nursing facilities. The Business benefits from a number of national agreements, a strong internet presence and technical resources, as well as an extensive base of local referral sources and a strong staff of trained Caregivers.
The company experienced consistent financial growth from its launch up through 2016. In the ensuing three years revenue and cash flow have declined, which the owner attributes to a loss of focus. There is a significant opportunity for new ownership to regain the prior momentum. The majority of revenues are cash based, with LTC insurance and Veterans benefits accounting for the balance. Cash flows are good, and consistent with the asking price. Client counts range from 25 to 33 per week. Potential growth opportunities exist in a number of areas, at the discretion of new owner.
Besides the Owner, the office is staffed with a full-time Operations Manager and a part-time Onboarding/Support Specialist.
This business requires no prior home care or medical experience. Training, guidance and ongoing support will be provided by the franchisor. Franchisor provides 80 hours of pre-opening support at Franchisor Training Center as well as on-site support. In addition, the seller is willing to offer assistance with the transition after the sale.
The home-care industry has exploded along with the aging population. 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. 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.
The seller is selling for personal reasons but will assist during a transitional period. The caregivers and staff, all of whom are W2 employees, are available to work with a new owner.
Growth & Expansion
Reason for Selling: