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Elderly Care Homes: 5 Questions Buyers Should Not Be Afraid To Ask

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Comments & Replies: 1     Views: 2955     Posted By: Broker/Consultant  

When buying an Elderly Care Home what should potential buyers always ask the broker or owner before proceeding? Find out in this Discussion on BizBen. Items buyers of elderly care homes will want to know more about why the seller is moving on, average length of stay, placement fees paid, etc.

Topics: Buying A Business     Tags: buying a business, due diligence


Contributor: Broker/Consultant: Elderly Care Services

Admittedly the search for buying a business can be quite a daunting task.

I have seen too many times when a Buyer who had "all the right stuff" backed off from their search because they got so overwhelmed with the process.

In an effort to make the search as "painless" as possible, I would like to offer 5 simple questions a Buyer can ask of the Seller or Broker of a Care Home to determine whether the Care Home is right for you or not.

1. How long has the care home been in business? Why do the Sellers want to sell? Understanding motivation is key!

2. What is the average length of stay of your Residents? Knowing how long a Resident typically stays will tell you how well the home is being operated and what the likelihood is of the home continuing on in this fashion.

3. How much did the facility pay in placement fees last year? Knowing placement fee charges will quickly tell you what the occupancy ratio is. Then you can run the math and know if the business is truly profitable or not.

4. Does the home have any active violations and are the violations type A or B violations?

5. Have you had any issues with the Department of Labor?

Of course there are a multitude of other questions to ask and information to gather, but starting with the basics will quickly give you an idea as to whether the business you are touring is the right one for you.


  Helpful Resources To Assist In Selling And Buying California Businesses
George Lanza, Business Broker, At Plethora Business Sales

Plethora Businesses, a division of A Premier In Services, Inc., is a Business Intermediary Consulting Firm headquartered in Orange, California. Plethora specializes in the listing and sale of small and medium sized private businesses.

Janet Carrera - Escrow & Bulk Sale Services - SF Bay Area

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Joe Sandbank, Esq. - Legal Services

I have provided legal counsel to business buyers, sellers and brokers for over 17 years. With prior experience as a business broker and SBA loan officer, Joe brings both a practical and legal approach to all aspects of the business acquisition process.

Bob Baumgarten, Business Broker: Orange, LA Counties

National Business Brokerage is a full service brokerage company that has been serving buyers and sellers of Southern California businesses since 1994. We are dedicated to providing the highest standards of professional service for our clients. Phone Bob direct at 949-588-8727.

Chris Seaman, Business Broker - San Diego County Area

Founded in 1994, First Choice Business Brokers has accelerated to become one of the most successful Business Sales Organizations in the world. Our team of agents have gone through extensive training to become experts in the field of business brokerage. Call Chris at 858-578-4111 for more info.

Rob Hartman: Business Broker, SF Bay Area

Business brokerage services in the SF Bay Area. I bring skill, integrity and energy to all of my clients and our projects. I'm accustomed to working with a wide variety of clients and their businesses; large or small, simple or highly complex. Get a free consultation by phoning 650-279-3097.

Timothy Cunha, JD - Business Broker, SF Bay Area

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