Acquiring Minds Home Care Business: How to Buy & 2x an Agency
19 snips
May 25, 2023 Entrepreneur Jérôme Bouillon shares his experience of buying and scaling up a home care agency, including his cold calling strategy, the benefits of buying a franchise, and the importance of seeing employees as customers. He also discusses the differences between home care and home healthcare, the challenges of scaling up in the industry, and the qualities of a strategic operator.
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Cold Call That Became A Deal
- Jérôme cold-called local agencies and bluntly asked owners if they wanted to sell.
- One owner agreed to talk and the deal began after lunch and NDA conversations.
Seller Stayed To Smooth Transition
- Jérôme met the seller and their wives, negotiated numbers, and learned franchising required vetting.
- The seller stayed on as interim consultant for about a year to ease the transition.
Buy Brand And Support, Not Just A License
- Consider franchising in service industries to buy recognized brand and support.
- Evaluate the franchise's offerings and intellectual property value, not just fees.