1.) When looking at Care Homes for sale in your chosen location, make sure all staff are properly trained and have the necessary experience to provide good quality care. If you are looking to buy a care home that caters for special needs then you’ll need to make sure your staff have the right qualifications to properly care for your residents.
2.) The care industry is heavily regulated. If you decide to buy a care home, make sure it is registered with the relevant government agencies such as the Care Quality Commission. Registration is mandatory and regular inspections are undertaken to assess your compliance.
3.) Check the occupancy rate of the care home you are interested in buying. Today’s care homes should be operating at an occupancy rate of about 90%. If this is not the case, find out why not. You may find that there are too many care homes in the area which results in over supply and can often lead to very competitive trading conditions.
4.) Care homes are high value businesses and asking prices normally range from £ 400,000 to £2 million. In most cases, care home finance is necessary and there are a variety of lenders who should be considered. You will however need to present a business plan to any prospective lender, outlining your 3 to 5 year plan for the business.
Care Homes For Sale in United Kingdom
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