For over 40 years these SE Michigan centers have been offering excellent care and educational opportunities for the communities they serve. The combined locations have a five-acre footprint and feature 23,000 square feet of well-maintained instructional area. The centers are licensed (in total) for over 350 children. Age groups range from infant to 12-year-olds. While the center offers after school programs, most of the children are full-time day students, Monday – Friday.
Before the business was negatively impacted by the COVID-19 virus, the centers were tracking impressive growth. Given the centers were closed for several months, revenue only decreased a modest 15% over the previous year. Year end 2019 revenue: $1,209,830, 2020 YE revenue - $1,024,764. EBITDAR for 2019 was $300,000.
With a capacity of 350 children and current enrollment at 150, there is clearly a large up-side potential for growth. An experienced more youthful buyer could benefit immensely since the facilities and licensing are already in place. The owners have spent their entire careers in the business and are ready to retire.
The real estate may be purchased outright or offers to lease will be entertained. The asking price does not include the real estate.
Please note: The SBA is offering loans until September (2021) with waived fees and forgiveness of the first six monthly (principal + interest) payments. A buyer with industry experience would only need 10% down payment to be eligible for these special terms.
Once a buyer has been qualified by the broker, an offering memorandum outlining the details of the business will be provided.