Asking Price
$795,000
Gross Revenue
$206,601
Cash Flow
$146,646
Overview
Year Established
2001
Employees
1 full time and 4 part time
Business Structure
Sole Proprietorship
FFE(Furniture, Fixtures and Equipment)
$25,000 (Included in asking price)
Property
Freehold
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.
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.
Growth Prospects
-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
-There is potential to add residents by expanding from four beds to six beds and remain a family home
Sale
Reason for Selling
-Seller is looking to retire
Training/Support
-Current sellers have well documented support and training materials
-Sellers will provide training and support to facilitate a smooth transition
-Sellers will provide training and support to facilitate a smooth transition
Premises
Facilities
-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
-3 bed 2 bath upper level is completely separates from residents to allow owner to live onsite
-Quiet Portage neighborhood with large lot
Location
Portage, MI
Contact The Seller
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