Home Health & Companion Care: Non-Medical with Passive Owner

Business Summary:
This company was established in 2015 with a very unique mission toprovide care and kindness to seniors in the community livingindependently in their own homes while also providing meaningfulemployment to other seniors in a caregiver position. The ownerestablished this business in 2015 and in the last few years has beenproviding basic oversight while working part time, 10-15 hours perweek. Unfortunately, the owner has been diagnosed with a seriousillness that she has been battling over the last 18 months and it isnow time for her to sell. There are two office managers who run theday-to-day operations, they are staying on board under newownership. There are also 30-35 Care givers who all are classifiedas part time and are W2 employees, there are no 1099 contractors.Several office functions such as payroll and bookkeeping areoutsourced. A new owner will only need to be there about 10 hours aweek. If a new owner wanted to grow, there is absolutely nomarketing or advertising and this could be something a new ownercould add. This business is producing a 35% margin and isannualizing $700,000 in revenue this year, the highest they haveever seen! Due to the owner’s illness, this business is being sold forunder fair market value at $630,000. There has already been a 3rdparty bank appraisal and we have had 2 banks fully approve this with10% cash down from the buyer. The most recent success story isthe addition of the VA contract that was awarded, which is one of thereasons they have seen year over year growth over the last 4 years.They are also covered under Medicaid and multiple long term careinsurance companies.To show her vested interest in the continued success of thebusiness, the owner has offered a 10% seller financing, plus will stayon up to 6 months or as long as her health will allow. Additionally,the franchise will provide support to the owner. If you would like toown this very meaningful company that provides a wide array ofservices such as companionship, transportation, meal preparation,and personal care, and make an impact on your community, you willneed 10% down which will return $100,558 in the first year after debtpayments!