23-Territory Licensed Home Care in NY

Manhattan, New York (New York)

  • Asking Price: $2,250,000
  • Gross Income: $2,455,000
  • Cash Flow: Not Disclosed
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: Not Disclosed
  • Listing ID: #199009
  • Established: 2011
  • Employees: 76

Business Description

Twenty-three territory, award-winning Home Care Franchise with three separate LHCSAs licenses (typically require a 3-4 year wait, and privately sell for $200k+ without an attached business), covering Manhattan, Queens, and Brooklyn, each under separate entities. This six-year old Home Care Agency business, for sale in Manhattan, is part of nationally known, top-rated franchise brand. The company offers affordable services for seniors and their families who require assistance with meal preparation, medication reminders, bathing/personal care, grocery shopping, light housekeeping, errands, Alzheimer's care, or companionship in order to remain happily and safely in their homes. The business office is fully staffed with an Operations Manager, Staffing Coordinator/Scheduler, part-time Director of Patient Services/QA Nurse Practitioner, HR Coordinator, and two business development specialists.

Throughout its 6-year operation, the Company has become the industry leader in the local senior care community. Its reputation for excellent client service and helpful, knowledgeable employees has earned this company solid relationships with professionals in the health care and senior communities. Majority of revenues (95%) come from Private Pay, with the remaining (5%) coming from Long Term Care Insurance and other payors.

This business provides services to one of the most demographically attractive senior care markets in the country. The exclusive franchise area has a total of 23 territories (Manhattan-6, Queens-9, and Brooklyn-8, typically valued at approximately $50k each before any going concern), with amazing demographics of 1MM+ seniors over 65 in the addressable market, a rich pool of local caregivers to hire from, and a robust public transportation system to ensure caregivers can arrive to jobs reliably. This business can be sold as ONE large office based in Manhattan, but additionally, Queens and Brooklyn can be sold separately since they are fully licensed under separate entities. The new owner would have to establish new, separate offices in those areas.

The service market includes a number of large hospitals, senior centers, assisted living communities, nursing homes, memory care and skilled nursing facilities. The Business has established National referral sources, a database of over 15 local referral sources, and 70+ hired and trained Caregivers on payroll. Marketing is executed through an optimized digital strategy that is highly efficient and minimizes dependence on field sales staff.

This business requires no prior home care/medical experience. Training, guidance, and ongoing support will be provided by the Franchisor, and the seller is willing to negotiate transition and ongoing training, as well as a consultant role after the sale if desired.

The Company competes with other national and local businesses and sole proprietors providing home care services. Disabled adults and seniors who are 65 years and older comprise the primary market for the Company, as well as a smaller portion of younger adults with some form of disability or illness requiring assistance with daily living.

The home-care industry is experiencing unprecedented growth with the aging national population. Today, 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, and 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.

Business Details

Primary Business Category: Health Care - Ambulatory
Location: New York
Metropolitan Area: Manhattan
County: New York

Company Information

Year Established: 2011
Home Based: No
Franchise: Yes
Relocatable: Yes
Number of Employees: 76

Financial Information

Asking Price: $2,250,000
Gross Revenue: $2,455,000
Seller Financing Available: No

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Business Listed By:

Vasilis Georgiou

CrossRoads Business Brokers, Inc.