Successful and Profitable Home Health Care Business

Myrtle Beach, SC (Horry County)

Successful and Profitable Home Health Care Business
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Asking Price: $339,000

Cash Flow: $120,000

Gross Revenue: $800,000

EBITDA: N/A

FF&E: $6,000

Inventory: $5,000*

Established: 2010

*not included in asking price.

Successful and Profitable Home Health Care Business

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Business Description

This is a great opportunity to acquire an ongoing and successful Home Senior Care franchise with a consistent, year over year revenue and a large upside in sales and earnings. The current (and only) owners are ready to begin practicing retirement and pursue other interests.
This company is entering its 9th year in business and has established a great reputation among its customers and referral partners for providing excellent and caring service. Current cash flow to the owner exceeds $120,000 annually, with add backs, on some $ 725K (2018) of sales. Sales in 2017 were $ 790K and $ 714K in 2016. Sales in 2019 are on pace to approach $900,000. The business operates primarily in the Myrtle Beach and surrounding area but could easily be expanded toward Wilmington NC and south to Charleston with the purchase of more licenses. This business currently operates out of 1000 SF of office space located on the Grand Strand. Besides the two owners, there a couple of full time and 42 - 48 part time employees, many with significant tenure.
While the owner(s) has grown the operation to meet their needs, due diligence will show that the upside potential could exceed two or three times the current size. There is precedence for this as other franchise owners in similar or even smaller markets across the U.S. generate sales that exceed those of this particular location. In addition, the franchise company is working on several new initiatives including a veterans’ program as well as access to Medicaid and Medicare patients.
The franchise company itself was founded in 1980 on the principles of delivering high-quality and compassionate care to people who need home care services. Today, over 200 franchises across the country, including this location, carry on those principles; providing the assistance that helps people age, rehabilitate, or recover at home; providing peace of mind for clients and their loved ones; and leaving a lasting impact on their communities and their families.
This particular franchise location provides full-service home care to people of all ages. This includes all forms of companion and personal care. The main function of the owners is to manage the strategic direction of the business and create a positive, client-centric culture. Primary responsibilities include but are not limited to: Working with Franchise Support Center to establish strategic plans to meet financial and operational goals; Taking action, making decisions and shaping teams and/or group priorities to achieve business goals; Delegating all day-to-day activities, including caregiving and scheduling, to appropriate staff; and ensuring effective and ongoing, on-the-job training of team members and evaluating individual and team performance and making appropriate developmental recommendations.
Given the good will and customer base already built by the current owner, the new owner should be able to grow the business 2X or 3X with a focus on community outreach, expanding into higher level care and taking advantage of upcoming government sponsored programs.
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Detailed Information

Location:
Myrtle Beach, SC
Inventory:
Not included in asking price
Employees:
42 - 48
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
1000 SF of leased office space, conveniently located close to the borders of the two counties served, Horry and Georgetown
Competition:
There is competition in this market, but being part of a larger franchise that is highly ranked and offers good support provides any owner with a significant advantage to grow and prosper. Myrtle Beach continues to see growth in retirees and the number of baby boomers aging out into needing elderly care continues to grow.
Growth & Expansion:
The new owner may consider acquiring licenses in adjoining counties, which are currently available. This includes south to Charleston and northeast to Wilmington. More aggressive marketing combined with the aforementioned government initiatives will take this business to the next level.
Financing:
TBD
Support & Training:
30 days from the owners and two weeks from the franchise. Owners will negotiate more time as needed.
Reason for Selling:
Owners retiring to pursue other interests
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(from currently available funds)
 
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Michael Hall

Business Listed By:
Michael Hall

Empire Business Brokers

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