Key Points From the Interview
ome care is a type of business you hear a lot about in our world of buying small businesses.
On BizBuySell, you'll see home care agencies for sale. There's private equity and roll-up activity in the industry.
Well, today's guest Jérôme Bouillon provides a window into these businesses, and explains how he doubled the one he bought over the course of 5 years (though he thinks he could have done so faster).
There are a few obvious characteristics to home care & home healthcare that are attractive to business buyers:
- Demographic tailwinds, which is a fancy way of saying that the population is aging, so the demand for these services will increase.
- Recurring revenue, since many customers have an ongoing need for care.
- And they're super asset light, since these businesses really just need people to run.
But beyond these reasons to like this industry, Jerome and I spend time on the other big draw:
Home care is about caring for people, usually elderly, who are vulnerable, maybe alone. Helping such people directly, and also often helping their families, who can't themselves deliver the necessary care.
And so it attracts people who are in it to care for other people, and that is beautiful.
So, if you are motivated by this industry's why — caring for elderly people — then it seems like a wonderful opportunity, and I encourage you to look into it.
Because when good business dynamics and purpose align, great things can result.
Here is Jérôme Bouillon to tell us about buying a business in home care.