MergerPlace

245D Adult Foster Care

Minnesota


  • Asking Price: $499,500
  • Gross Income: $155,865
  • Cash Flow: $88,305
  • Real Estate: $329,000
  • Inventory: $300
  • FF&E: $7,000
  • Listing ID: #204454
  • Established: 2002
  • Employees: 3 PT

Business Description

In 2002 they started the transformation of single family living to providing family style Adult Foster Care. The home is currently designed for 5 clients. There are 3 private rooms and one double room. They recently had a client pass so they have a bed open in the double room. The income is very stable as they receive both private and state funds. Over the years they have by choice provided services mainly for elderly men and women. But as a 245D Adult Foster Care facility they have the flexibility to be providing services for AC/EW/TBI/CAC or Cadi programs.


Business Details

Primary Business Category: Health Care - Nursing & Residential
Location: Minnesota

Company Information

Year Established: 2002
Home Based: Yes
Franchise: No
Relocatable: No
Number of Employees: 3 PT

Financial Information

Asking Price: $499,500
Gross Revenue: $155,865
Cash Flow: $88,305
FF&E: $7,000
Inventory: $300
Real Estate: $329,000
Seller Financing Available: No

Property Information

Facilities:

This is a very well maintained home with an out building for hobby, farm type activities along with a couple of other storage buildings. The business activities take place in part of the main level. The two owners have their private area in one end of the main level. The resident numbers could be increased if the new owners would use the lower level as their private area and convert the other upper part to client area.

Growth & expansion opportunities:

Renovating the home would allow at least 2-4 new clients to reside at the residence.

Competition:

There will be a demand for this care for a long time to come. The hardest part is to coordinate a good fit into the extended family when space opens. Clients are referred by the state and county but also come through private contacts.

Reason for selling:

Retirement.

Support & Training:

Will train for 2 weeks @ no cost. Special state licensing is required for a 245D Adult Foster Care.

Contact Business Seller

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Business Listed By:

David LaVoi

Murphy Business Brokers