Home improvement and house flipping shows like Property Brothers, Flip or Flop, and Fixer Upper are wildly popular as housing markets across the county climb and people dream of selling for a high profit. Just like the housing market, the home care industry is also hot, and many agency owners are hoping to sell their businesses to the highest bidder. But selling an agency in an industry as competitive as home care can be complicated.
Just like you need to differentiate your agency to gain clients, you must also make sure your agency stands out to potential buyers. The good news is if you’re a fan of house flipping shows, you’ve likely picked up a few useful tips.
Know Your Exit Strategy. House flippers go into each project determining what they will need to do to the house in order to turn it around and sell it, so they start by making an exit strategy. Chances are you didn’t start your home care agency with selling in mind, but even if you’re not thinking of selling now, it’s important to consider an exit strategy for the future. What are your business goals? How much do you want to grow? When would you like to retire? These are all great questions to ask now to prepare your business for a possible future sale.
Identify What Repairs Need to Be Made. The first thing a house flipper notices is the need for repairs. Do the floors need to be refinished? Are replacement windows needed? What will give the house curb appeal? Similarly, home care agency owners must think about what gives their home care companies real curb appeal, like healthy bottom lines, tight operations and efficiencies, highly-trained caregivers, positive client reviews, high caregiver satisfaction, a standout brand, and a well-oiled sales and marketing strategy. More than just window dressing, your brand should clearly and compellingly differentiate your agency from competitors and show that your agency values people, quality, and professionalism. An agency’s sales and marketing strategy can go a long way to helping secure a buyer. Your home care marketing strategy should have a solid focus on reputation management and securing good reviews from clients and caregivers, which will signal to buyers that your business is healthy and thriving. Your sales strategy should also focus on relationship building with the right referral partners and influencers.
Add Special Touches. It’s the little things that make a house a home: carefully selected faucets and fixtures, wainscoting, wood flooring, cabinetry, etc. These items make a big difference to buyers. Those looking to buy a home care business appreciate the thoughtful extras that show your agency goes above and beyond. Things like what home care management software you use, special niche services you offer, and partnering with an award-winning home care marketing firm can really help give your agency the right appeal and selling potential.
Hire Good Help. Finding a reliable contractor to work with you on flipping a house is an essential, but not always easy task. Likewise, it’s important for home care agencies to hire the right marketing, sales and operations partner that can help them stand out from the competition.
corecubed’s home care marketing experts have decades of hands-on industry experience, and we can help your agency discover its unique brand identity, create eye-catching marketing materials, design a professional website, recruit top caregivers, improve SEO, and more. If you’re looking to flip your agency or just want to boost sales or improve operations, contact corecubed today to find out how we can help.