Home Care Owner FAQs
We've brought together a team of educators and home care experts to answer the burning questions that you and every home care owner will ask at some point.
Jeff Wiberg President of the Home Care Association of America board and CEO of Family Resource Home Care
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Debbie Miller Former pharma sales rep who built a $10M home care company and founded 52 Weeks Marketing
Debbie Miller Former pharma sales rep who built a $10M home care company and founded 52 Weeks Marketing
Brett Ringold Vice President of A Long-Term Companion
Mark Johnson EA specializing in home care agencies
Jason Chagnon CEO of Home Care Marketing Pros; digital marketing consultant to senior care businesses
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Becki Harrington-Davis Senior Content Marketing Manager at CareAcademy
Sabrina Sattler Account Executive at Careswitch, home care agency advisor specializing in startup success and longevity
Ilya Vakhutinsky Careswitch CEO, home health aide's son, Forbes 30 Under 30, caregiver advocate
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Rachel Gartner Former home care recruiter who was so successful that she founded her own recruitment firm (Carework)
Gregg Mazza Founded a home care agency, almost ran out of capital after two years, figured things out and scaled past $5M
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Jennifer Ramos Managed and sold three different home care agencies; CEO of JR3 Consulting
Jennifer Ramos Managed and sold three different home care agencies; CEO of JR3 Consulting
Brett Ringold Vice President of A Long-Term Companion
Erica Horner Home care sales consultant & project manager at corecubed
Erica Horner Home care sales consultant & project manager at corecubed
Brett Ringold Vice President of A Long-Term Companion
Jennifer Ramos Managed and sold three different home care agencies; CEO of JR3 Consulting
Angelo Spinola Home health, home care and hospice chair at Polsinelli
Jennifer Ramos Managed and sold three different home care agencies; CEO of JR3 Consulting
Adam Corcoran Director of Business Development at Golden Care, owner of Home Care Flyers, helped build a multimillion dollar agency from the ground up
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Greg Coopman President at SeniorCareCX
Miriam Allred Head of Partnerships @Careswitch, former host of Vision: The Home Care Leaders Podcast
Brian Cottone Jr. Benefits expert at VItable Health
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Jeremy Fuller Managing Director of Grow Home Care Marketing; website, SEO, and digital marketing expert
Julio Briones Home care consultant specializing in helping 7-figure home care agencies grow
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
What’s the biggest mistake home care owners make when preparing to sell an agency?
While a business owner may never know when a personal crisis will strike, they should always be ready to exit. The biggest mistake we see home care owners make is they begin the selling process when it’s too late to really prepare. Here are four suggestions that any business owner can start today, regardless of when they are looking to exit, whether 5, 10, or 20 years from now. You might want to take an annual day of reflection to consider the following:
1. Consider Your Next Chapter
Take some time to figure out the next phase of your life. For example, if you want some time to travel and relax before starting a new chapter, you may want to have a project always lined up. This can help remind you that the current business is only a chapter in your life.
Here are some questions to get you started:
- What will your professional life entail? Will it include starting another business, consulting, investing, retiring, or something else?
- What will you do in your next chapter to give your life a sense of purpose?
- What kind of lifestyle do you aspire to have?
- What relationships will you invest more in?
- What hobbies and interests will you indulge in?
2. Know Your Minimum Number
While you may not know the value of your business today, you should consider having a minimum number. This is the minimum amount of money you want to garner from selling your business to be able to look back on your exit without regret. Knowing this number alone can help you realize a more lucrative exit. When you get a valuation early on (3 years before your exit), you will have a better understanding of your target and have a number to reach for and even surpass.
3. Imagine Your Exit
It’s fun to imagine the day you ultimately exit as dropping off the keys and riding into the sunset. Realistically, however, that may not happen. Contemplate what possible roles you would be happy to continue working in within the business, in what capacity and for how long.
- Are you willing to stay on as a consultant?
- Will you assume a minority ownership role?
- Do you prefer to stay on as an operator with a majority role?
If you answering these questions on an annual basis you can maximize the number of options to exit and the amount you garner.