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

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Comments & Replies: 1     Views: 2911     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
Rob Hartman: Business Broker, SF Bay Area

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Ralph Santos, Business Broker Specialist - Health Care Related Businesses

Using my MBA and my perseverance I will make things happen! I provide business brokerage niche services specializing in the hospice and home health care agency industry in the Los Angeles County or Ventura County areas. For either buying or selling assistance please phone or email me today.

AJ Rana - Business Broker, San Francisco Bay Area

Professionals who understand the importance of world class business brokerage service and the value it can create. Specializing in assisting sellers and buyers with retail stores, restaurants, hospitality & lodging, manufacturing operations, distribution companies, e-commerce and service businesses.

Ranvir S. Sandhu, Esq. - Legal Services For Buyers And Sellers

I've worked at top Bay Area law firms and have extensive experience with business entity formation, mergers, dissolutions, conversions, employment matters, including experience in reviewing and negotiating transactional documents such as leases and purchase agreements.

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.


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