Title: Senior Care | Industry: Assistant Living Home | Location: Southwest Denver Metro Area
Asking Price: $1,468,000 | Inventory/FFE: (Included in Price)
Gross Revenue: $571,480 | Cash Flow: $122,000
Lease: N/A | Real Estate: 1,100,000 (Owned – Included in Price)
- The Opportunity: 2 Single Family Residences
The company operates in two single-family residences in the southwest Denver Metro area. The homes include all the amenities needed for a comfortable lifestyle for seniors, such as ramps, gardens, wide hallways, modified bathrooms, industrial overhead sprinkler systems, and more. The homes are in quiet suburban neighborhoods with quick and easy access to restaurants, churches, hospitals, parks, and more. Each home has a fully finished basement that the owner rents to staff members for additional income.
- Opportunities to Increase Cash Flow:
The current owner operated this business because of her love for taking care of the elderly, rather than a desire to make money. Profit was not on her priority list for making operational decisions. The absentee owner’s salary is approximately $100,000 per year. The owner pays a director approximately $40,000 per year, however, a new owner experienced in senior care could take on that role and combine both salaries. The business also pays significant referral fees. A new owner could determine if that is the best marketing strategy and possibly reduce that marketing expense.
- The Senior Care Industry is Vital and Growing:
Assisted living provides a meaningful service to the community and has the potential for great profits. The need for assisted living facilities is increasing every day due to the seventy-five million baby boomers who need help with daily living. Fifteen percent of the US is over age sixty-five and the demographic is growing. Many families search for a home-like atmosphere rather than the institutional and clinical feeling of larger assisted living facilities. This business provides the perfect solution for senior care and income to the owner.
- Improving Lives:
Seniors live longer and happier lives with the benefits of socializing, good food, proper grooming, and hygiene. They get all the benefits of living in a home, without any household chores. A staff member is always available to ensure safety, fellowship, and medicinal compliance. Family members of seniors are comforted knowing if their loved one falls, gets sick, has a stroke or heart attack, there’s always someone on the premises to get help immediately.
- Turnkey Operations:
All components are in place to run a successful and profitable assisted living business, including facilities, staff, current residents, and operational systems. The homes have the capacity to care for twelve full-time residents. The business is licensed with InnovAge to take residents on Medicare and Medicaid, as well as privately funded residents. Most Medicaid residents will pay extra for additional benefits like private rooms.
- Experienced Staff:
The caretakers are at the heart of the business as they are like extended family to the seniors. This owner has gone to great lengths to hire and retain high-quality staff.
Included in the sale:
- Two houses modified for assisted living facilities
- License with InnoVage
- Thirteen staff (eleven full-time and two part-time). All staff have QMAP training and the director is an LPN.
- Operational systems
- The income of the current residents
- The income from the basement rent
- Ideal Buyer:
The ideal buyer is someone with heart and passion for seniors with some business experience. The buyer could choose to operate this business completely hands-on or outsource the majority of operations and become an absentee owner.
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