Website Closers® presents an Absentee-owned Outsourcing Agency that connects critical Home Care Providers to Seniors who want to remain in their homes. This is a rapidly growing segment of the Healthcare Industry, with a sharply increasing need for home care services as Baby Boomers age and some younger Americans cope with chronic illnesses. This agency is based in Massachusetts and now has plenty of skilled home care providers ready to deploy.
The key value prop for this company is its net operating margin, which exceeds 40%, due largely in part because the business has no marketing or advertising expense. The company has built its reputation and client based thanks to strategic partnerships with elder care service government offices in Massachusetts that refer to clients in need of home care. With an average contract size of $6,000 per client, each month, the agency expertly provides multiple services and has care providers who are fluent in multiple languages. This has enabled the company to grow rapidly in 8 years to become a leader in the field of home care services for the elderly.
This business represents a clear opportunity for a U.S. Buyer to acquire this company and then scale it quickly by accepting referrals from private caregiving agencies, and by launching a digital marketing campaign that includes an SEO program and targeted paid media on search platforms and social media.1
Business Broker Takeaway
We are excited about this business for 3 important reasons:
- Fast Growing Industry. It is projected that the need for home care providers and innovative services for seniors who want to live at home will increase dramatically in the coming years. A whopping 90% of Baby Boomers want to live at home as they age, and the Home Healthcare market was valued at $390 billion in 2023, with projections that it will grow by 7.48% through 2030. Advanced technology such as telemedicine and remote patient monitoring make home care more affordable, and this company is ideally situated to meet the needs of patients across the country as the call for these services gets louder.
- A Wide Array of Services. With up to 200 caregivers available to meet new clients, the company can cover the needs of a very diverse group of patients, regardless of age or their medical condition. They provide Companion Services that include meal preparation, grooming, transportation, and housekeeping, and Personal Care Services that include feeding and special diets, bathing and dressing, and ambulation assistance. Their skilled providers have experience in physical and speech therapy, stroke care, medication management, and Parkinson’s care, and are fluent in 8 languages including Arabic, French, Italian, Polish, Spanish, and Vietnamese, among others.
- Growth Opportunities: The fact that this company has brought on new patients exclusively through referrals from state government agencies allows the new owner to seek out referrals from caregiving agencies in the private and non-profit sectors. The fact that the company has not needed to invest in a marketing plan is also a major opportunity for a new owner, who could invest in proven digital marketing tools such as SEO, blogs, social media and email marketing, and PPC ad spends on Google to bolster the company’s brand recognition.
The Company
First opened in 2017, the company provides a host of services that include companionship, assistance with daily activities, transportation, and personal care. Services are provided by experienced and certified nurse aides, home health aides, and personal care attendants, available to provide live-in and 24/7 care if needed. Their caregivers are also available for hourly rates, overnight stays, and short shifts.
There are no seasonal factors impacting this company, which maintains stable and consistent month-to-month contracts, which bring in around $130,000+ per month.
Operations
The current owner focuses mainly on tasks that include handling payroll and other financial responsibilities absent from the daily operations. In addition to their caregivers, the company has a staff of 50+ employees handling daily operations which includes a full administrative staff. The company does not employ third-party contractors for any tasks and it runs on its own with the full team in place. The employees are available to remain on staff with the transfer of the company to a new owner.
A new owner should not need to be highly skilled or trained in elderly home care as everything can be trained. Plus, with the administrative team operating the company, a new owner can easily transition into leadership and focus on scaling the business while the current staff maintains daily operations.
The new owner has significant opportunities to grow this company through digital marketing, using tools such as PPC ads, email newsletters, and social media marketing to direct organic traffic to the company’s website. Launching a blog on the website that outlines the company’s programs and focuses on home care issues would serve the same purpose of widening its audience.
This is a strong opportunity for an investor. Healthcare is one of the nation’s largest and most lucrative industries, and the field of home care service is booming as more and more seniors require assistance so they can remain at home. With a solid track record of providing first-rate care in Massachusetts, the company has a model that can easily be replicated in all 50 states.
