Professional Insights

What To Expect When Selling Your Home-Based Care Business. Straight Talk From Someone Who Did It.

01/13/2025

Building and growing my home care business was the most intense decade of my life. I was both challenging and rewarding at the same time. I had come to the decision, more over time, than on any one particular day, that I was ready to sell and move on to something else. I had a LOT of questions! I knew I built something of value that I was proud of, but how would I sell it to a new owner while making sure my clients and employees were taken care of? How would I get the most value for the blood, sweat and tears I had invested?  How would a sale affect my taxes? What is my company worth? How much would all this cost to do? Where should I start?

Sitting now confidently on the other side of that period in my life, I now realize the value of having selected, early on, a skilled Mergers & Acquisitions (M&A) Advisor with experience in the home-based care industry. The sale process is so complex; more than I ever imagined. There is no way I could have navigated that alone.     

Full disclosure: I selected the wrong Advisor at first. I had selected a Business Broker in my area that handled business sales in all industries. This broker did not have first-hand knowledge of the home care industry, didn’t have a network of industry-specific buyers, and didn’t make my sale a priority in their schedule.    

When I finally hired the right M&A Advisor, I actually enjoyed my sale process! My Advisor was not only knowledgeable of the home care industry, and a great negotiator, but knew exactly what a big decision this was for me and the emotions that I would experience as a result. My Advisor answered all my questions, helped me get the best price for my hard work, help me find the right buyer for my needs, and set me up with other professionals to assist with the transaction. 

My Advisor told me he would be available to me 24/7, which at the time seemed not necessary, but, sure enough, there was a time during the process when it was… and he was there with me every step of the way. Upon reflection, I feel very strongly that these are the core qualities you should look for in an M&A Advisor. You will be collaborating with this person almost daily, for at least six months to a year, and want to know that you have someone on this journey with you who is truly an Advisor, an Advocate for you and your wishes and a support system for you when you need it.

 
It’s a vulnerable position to be in when your life’s work is “on the market”. In this situation, you need to trust your Advisor, the Buyer, and the process. Not an easy task. I went through a myriad of emotions from excitement to overwhelm, to doubt, to frustration and anger, and back to excitement again. One emotion I did not experience was Seller’s remorse. I believe this is because I had a clear plan for myself and my life, post-close, and my Advisor reminded me of that plan when times got tough. My transaction went smoothly, and in the end, I was pleased with the price and terms, as well as with the buyer and how they transitioned into managing the company.   

My post-close journey brought me full circle to now helping other home-based care owners either scale their business or evaluate their exit readiness to move on. When I listed my home care business for sale, I never expected that my career path would bring me to becoming a Home-Based Care M&A Advisor, but I find great satisfaction in bringing my full experience and insider’s point of view to representing my clients in the sale of their business.

  
Please reach out to me at (203) 691-1319 or at jp@corcoranconsultants.com if you have any questions about exit readiness or planning, or if you are contemplating the sale of your business.  

About Corcoran Consulting Group
We are a team of experienced care-at-home industry leaders, executives and prior operators, who’ve done what you do.
We provide operational, financial, growth and exit solutions for home-based care providers who seek proven results and want to put their best foot forward.

We focus on four areas: home health, hospice, non-medical home care and mergers & acquisitions.
Corcoran gets you ready: Ready to deal with the challenges you’re facing today and tomorrow.