MEDICAID CONTRACTING IS CLOSED TO NEW PROVIDERS IN TN.
This SBA Pre-qualified business opportunity is a five-year-old Private Duty Home Care Agency for sale in Shelby County, TN. The Company is serving Shelby and Fayette County. Cities include Memphis, Bartlett, Germantown, Collierville, Arlington, Lakeland in Tennessee & Desoto County, MS. There is a great growth opportunity to expand into Mississippi with private pay and Medicaid. Medicaid in Mississippi is easier to get into due to there not being MCOs to deal with.
This business 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 or personal cares, grocery shopping, light housekeeping, errands, Alzheimer's care, or companionship in order to remain happily & safely in their homes. The business office is fully staffed with a Executive Director, Staffing Coordinator, Sales & Marketing Liaison, Quality Care Coordinator and Recruitment/Training Coordinator.
Throughout its 5-year operation, the Company has become an industry leader in the local senior care community. Its excellent reputation in serving clients and with its employees, has earned this company solid relationships with professionals in the health care and senior communities. Revenue mix is very stable, 50% Private Pay, 40% from Medicaid and 10% Veterans Aid & Attendance and Worker’s Comp. Clients pay electronically via ACH and credit cards, making cash flow easier to manage.
The franchise territory population is 400,000 which is covered by one office. The franchise is able to serve an area with a population of over 1 million people being the only franchisee of this system in the area, and by owning two territories. The franchise owns the wealthiest zip codes in the area in two territories, making it extremely difficult for another franchisee in the same system to operate in the market. This business provides services to one of the most demographically diverse senior care markets in the Country.
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 500 local referral sources, and 65+ Caregivers, hired, trained, on payroll. This business requires no prior home care/medical experience. Training, guidance & ongoing support will be provided by the Franchisor & the seller is willing to negotiate transition & ongoing training, as well as a Consultant role after the sale.
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 has exploded with the aging 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 which are W2 employees, are available to work with a new owner.