Selling a care home has its own unique challenges and processes. The state of the business and who you sell it to will greatly affect the value and outcome of the sale, says Matthew Hernon, account manager, Dynamis
When selling any business, detaching yourself from the daily management should be your first priority. In order to detach yourself from the care home, focus your attention on any legal requirements or regulations that the business might need to renew once you leave.
For example, are you the first port of call in an emergency? If so, who will take on this responsibility after the sale and will they be fully trained to manage an emergency situation?
Ensure you have managerial staff who will be able to take on administration in the future, especially paperwork that keeps others updated on residents’ medication and overall health. Not only should your back end operations be in the best shape and fully functional without you, the overall presentation of the home should also be of the highest possible standard.
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