Well Established Adult Foster Care Family Home – Portage Michigan

Asking Price$795,000

Cash Flow
$146,646
(Seller's Discretionary Earnings)
EBITDANot Disclosed

Gross Revenue$206,601

InventoryNot Disclosed

FF&E$25,000
Included in asking price
Real EstateNot Disclosed

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Well Established Adult Foster Care Family Home – Portage Michigan


Asking Price$795,000

Cash Flow
$146,646
(Seller's Discretionary Earnings)
EBITDANot Disclosed

Gross Revenue$206,601

InventoryNot Disclosed

FF&E$25,000
Included in asking price
Real EstateNot Disclosed

Business Description
REAL ESTATE included in asking price! This is a Family Adult Foster Care Home, which allows a family to live in the upper part of the bi-level home and the four developmentally disabled gentlemen to live in the lower part of the home. This is an ideal opportunity for individuals who would like to stay home and raise their own children, while earning a substantial income, without the expense of daycare for the children. The contract with Kalamazoo County Community Mental Health and other government placing agencies provides a large tax-exempt income for the owner.

The family atmosphere of the home gives the four gentlemen a sense of worth. Through providing them with their meals, medications, laundry, etc., the business owner gives them a sense of worth and belonging. All the gentlemen use Metro Transit services to go out to day programs, which provides the owner time with no residents present.
About the Business
Years in Operation
24
Number of Employees
5
Currently Home Based
Yes
Facilities & Assets
-House has been expanded to comfortably house 4 residents with all the comforts of independent living
-3 bed 2 bath upper level is completely separates from residents to allow owner to live onsite
-Quiet Portage neighborhood with large lot
Market Outlook / Competition
-Industry is expanding and quality facilities are in high demand – no competitive landscape as the need outpaces current supply
-Business has never had vacancies go unfilled for more than 30 days
Opportunities for Growth
-Business runs smooth and has seen moderate growth year over year, outpacing inflation
-There is potential to add residents by expanding from four beds to six beds and remain a family home
Real Estate
Owned or Leased
Owned
Included in asking price
About the Sale
Seller Motivation
Seller is looking to retire
Transition Support
-Current sellers have well documented support and training materials
-Sellers will provide training and support to facilitate a smooth transition
Listing Info
ID
2353878
Listing Views
432

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Business Listed by: E. Brad Scoffin Advanced Business Brokers

Listing ID: 2353878 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.


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