Residential Care Homes for sale

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Buying a residential care home

There are nearly 13,000 residential care homes in operation in England alone, catering for the needs of a growing elderly population. If you have the right personality and experience – and if you can secure enough capital to purchase the property, you could be an ideal candidate for taking on an existing residential care business.

A residential care home is different to a nursing care home, in that the residents are simply elderly and are not in constant need of qualified medical assistance. While a nursing care home will need to offer 24 hour care from qualified nurses, a residential care home worker will need to help residents with washing, dressing and eating throughout the day and night. There are still a lot of regulations that must be met, however, so it’s important to talk to the seller about any certification that will need renewal, or any qualifications that they might have which you will need to earn yourself, before ownership of the going concern can be transferred over to you.

From a business perspective, buying a care home and ensuring that you can run it profitably will require you to have a firm grasp on resident numbers. Is the home fully occupied with a waiting list, or is it running with spare capacity at present? What kind of facilities does the home provide, and what extra facilities could the building accommodate in future if required? What is the depth of qualification within your staff roster? For instance, if two qualified members of staff are off sick at the same time, will this have an impact on your business’ ability to trade? Talk through any concerns you might have with the current owner in the first instance, and always seek professional advice before and after the business sale.

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