***Special Note: In a victory for small business buyers, the recent $900BB stimulus bill directs the SBA to pay the first 6 months of new SBA 7(a) loans approved between February 1 and September 30, 2021 (up to $9,000/month). Our advice: Don't wait. Find a quality business and get moving quickly. Banks will be busy this year and buyers that wait until July/August will likely lose out.
Founded in 2009, this established Home Helpers franchise provides home health care services to across the Northwest, West, and Southwest Chicago suburbs (via 3 territories). The territories include an attractive demographic with a high population of people who are 65+ with a high median income.
The company’s goal is to make life easier for clients by providing the same care that they would want to be provided to themselves and their family. Their services are customized to meet the unique needs of their clients wherever they call home.
The franchise’s caregivers work with clients to fully understand the client’s loved one’s needs and make the best decisions for their quality of life and peace of mind. They are one of the nation’s leading providers of senior care and deliver comprehensive services for clients dealing with a wide variety of conditions and struggles.
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Leased office space; 1,200 square feet, $700/month.
(1) Home Care Industry Growth: According to the Bureau of Labor Statistics, approximately 1.3 million additional jobs within the homecare field will be added through 2020. In fact, they report that those working in home health positions will see a 69% growth through 2020, while those in personal care aide positions will see a 70% growth. Compared to the 14% growth rate that all jobs on average are expected to have, the home care industry is expected to see a substantial increase in the coming years. (2) Compounding Base of Referrals: Home Helpers already has an extensive customer base in their territory. Building upon this should be easy because the home care industry heavily relies on acquiring new clientele through referrals. Home Helpers already has a fantastic reputation with the people of the local area and as they refer their family and friends and their family and friends refer someone else, the client base should grow exponentially with time.
Investment Highlights Include: (1) Fantastic Reputation: The company benefits from an extensive and well-rounded resume of accomplishments and achievements. (2) Solid Market Footprint: The company has already deeply rooted in the territory that it possesses. In fact, the Company has been operating for 11 years and served over 700 unique clients. This large customer base has done an excellent job of giving the business a high degree of respect and knowledge for potential clients in its area. With this footprint already in place, new ownership could leverage this to pull in new clientele through existing trust that the market has in the company. (3) Large Market: To pair nicely with the market footprint that business has, its territory is also extremely large. Finding new potential clients will be easy in this territory. The company benefits from its 3 connected franchise territories in Northwest, West and Southwest Chicago suburbs that have a population of over 800,000 people and an attractive demographic of 65+ and high median income to support private pay.
Ownership is willing to provide reasonable and customary transition assistance.