MergerPlace

Multi-Location Home Care Company

Michigan


  • Asking Price: Not Disclosed
  • Gross Income: $1,302,455
  • Cash Flow: $88,742
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: Not Disclosed
  • Listing ID: #205761
  • Established: 1995
  • Employees: 76

Business Description

The Company is a locally owned private duty home-care provider serving clients in Southwest Michigan with support from two strategically placed offices. Ownership is semi-retired and continues to provide general oversight of the Company’s operations remotely – often from out of state. Well-established systems and protocols and a highly autonomous and competent management team make this arrangement possible. A more active and involved owner could undoubtedly grow this Company.

Thank you for reading this overview. The extent of the information that we are publicly permitted to reveal about this opportunity is contained in this overview. Please submit your contact information in the provided form. We have automated the processing of NDAs and sending of information for speed and efficiency. You will be sent a link to our online NDA. IF YOU DO NOT RECEIVE THE NDA LINK, PLEASE CHECK YOUR JUNK MAIL. If the email cannot be found please email info@caldergr.com and request a PDF version.

Once we receive your NDA and answers to some basic questions the Confidential Offering Memorandum (OM) will be sent to you from the project manager.

IF YOU DO NOT RECEIVE A FOLLOW UP EMAIL AFTER YOU SUBMIT YOUR NDA, PLEASE CHECK YOUR JUNK MAIL FIRST. If you do not see the email there, please email info@caldergr.com for support. Thank you in advance!


Business Details

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

Company Information

Year Established: 1995
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 76

Financial Information

Gross Revenue: $1,302,455
Cash Flow: $88,742
Seller Financing Available: Yes

Property Information

Facilities:

Two Southwest Michigan branches. Both facilities are leased from unrelated entities.

Growth & expansion opportunities:

Growth opportunities include: 1) Fully-Involved Ownership – The single best strategy to grow the Company would be for the new owner to work in the business. Current ownership has been very content to maintain the current level of revenue so the Company does not infringe on semi-retirement. 2) Respond to Demographic Trends – The Company is well-positioned to benefit from a confluence of demographic and economic trends: (a) The aging of the baby boomer generation. (b) In a recent survey, 90 percent of seniors expressed a desire to remain in their homes as long as physically possible. With advances in home healthcare technology this should be increasingly possible. (c) Hospitalization costs have continued to increase significantly. (d) Aging consumers have embraced the home healthcare trend. 3) Bolt On Other Agencies – Growth through acquisitions may be an excellent way to grow the Company as the Home Care Provider Industry is highly fragmented. IBISWorld, a well-respected market research firm, estimates that the three largest home care agencies in the US generated less than 10.0% of industry revenue in 2016.

Competition:

Investment highlights include: 1) Serving a Profitable Market Segment – Unlike several of its competitors in the area that focus on Medicare clients, the Company is targeted towards individuals and families with resources sufficient to afford private insurance or to pay out-of-pocket for care. 2) Very High Google Ranking – Early and significant investments in SEO and content marketing have ratcheted this Company to the top of Google searches for home care in Southwest Michigan. 3) Recurring Revenue from State Contracts – The Company has multi-year contracts with two non-profits that receive funding from the State of Michigan. While these contracts are not as lucrative as those for the Company’s other clientele, they do provide revenue stability and flexibility.

Reason for selling:

Transition into full-retirement

Support & Training:

The owners are semi-retired and provide general oversight of the Company’s operations remotely. Support will be provided through a reasonable transition period.

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Business Listed By:

Max Friar

Calder Capital, LLC