Multi-Location Adult Foster Care Business (ID: 1107008)

Business Description

The founder/owner/seller of this nearly 40 year old successful three unit adult foster care business is ready to sell his company and retire. This is a very good opportunity for a buyer who has both interest and experience in caring for the developmentally disabled and mentally ill while enjoying a solid cash flow.

Situated in the city of Detroit, the company’s three separate locations provide comfortable settings in well maintained facilities. All residents receive care through the Department of Mental Health and Social Security. On rare occasions there are private pay residents. All three facilities are CARF accredited, insuring the quality of provided services.

The business has annual revenues of over $700,000 and SDE ($159,000), the cash flow available to pay an owner/operator and service debt.

The business, including all three properties and all equipment, is being offered for $500,000. The value of the three properties combined is estimated at $300,000, leaving $200,000 for the enterprise value and fixed assets. With the equipment value estimated at $25,000, the enterprise value is very attractively priced at 1.1x SDE. The Seller would be willing to consider a reduced price for an all cash offer, or offer a short term (2 yr) note with $200,000 down for qualified Buyers.

The seller will customize a transition program to meet the buyer’s needs. For more information on this solid business opportunity, please contact Glen Toadvine (glen@praxisbusinessbrokers.com or 734-929-9032).

About the Business

Year Established: 1975
Number of Employees: 20

About the Sale

Reason For Selling: Retirement

Training/Support: Provided

Seller Financing: $200,000 down an 2 year pay-off