MergerPlace

3 in 1 Senior Homecare Business

North Carolina (Wake)


  • Asking Price: $1,200,000
  • Gross Income: $983,765
  • Cash Flow: $260,140
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: Not Disclosed
  • Listing ID: #201225
  • Established: 2007
  • Employees: 3 FT/5 PT

Business Description

Assisted living facility services that provides an intimate, homelike environment. Serving six residents in a residential neighborhood. All aspects of assisted living are provided at each location. Currently selling 3 locations in the Raleigh area. Individual purchase of each business is available.


Business Details

Primary Business Category: Health Care - Nursing & Residential
Location: North Carolina
County: Wake

Company Information

Year Established: 2007
Home Based: No
Franchise: Yes
Relocatable: No
Number of Employees: 3 FT/5 PT

Financial Information

Asking Price: $1,200,000
Gross Revenue: $983,765
Cash Flow: $260,140
Seller Financing Available: No

Property Information

Facilities:

Stand alone residential neighborhood. Renovated and in good condition. 2000 square foot residential building.

Growth & expansion opportunities:

The senior care market is thriving right now due to the baby boomer population needing care. Currently in Wake County, in order for a larger assisted living facility to open (7 beds or higher), a Certificate of Need is required. These are issued by the State of North Carolina only during limited periods and is extremely competitive and are bid on. The other alternative is for a facility to close and their CoN be purchased, but this can be cost prohibitive, as many CoN's sell for over $1MM. Family care homes do not have this restriction. Also, finding a property in Raleigh that can be zoned as a family care home in Raleigh is extremely difficult at this time.

Competition:

Another franchised location 1.8 miles away is part of this sale. Other family care homes do exist near all locations; however most are Medicaid facilities and most don't offer exclusive senior care. The ones that do offer senior care do not have fire sprinkler systems in place and none offer the services provided. Only other competition are larger ALF's.

Reason for selling:

Owner looking to expand franchise locations.

Support & Training:

Will train for 2 weeks @ no cost. All aspects of owning and operating an assisted living facility (resident care/business operations, etc.). Owner/manager would be required to pass the family care home administrator test and be recognized as the administrator. Owner would also be required to obtain CNA or 80-hour Personal Care Assistant certification as well as CPR/First Aid. Family Care Home license is required to be renewed yearly. No business license required.

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Business Listed By:

Bill Bunting

Murphy Business Brokers