Since 2012, we’ve become experts in local nursing home transactions. We’ve negotiated the sale of many facilities using the Laurex process. That’s why our clients trust us with their nursing homes. Let’s work together to determine your skilled nursing facility value. We will help you increase your nursing home value. Schedule a Valuation Call now.
Selling your nursing home can be one of the biggest challenges because you don’t want to publicly promote that it is for sale. It is extremely difficult to sell something that you are afraid to tell anyone about. On top of that, the time it takes with a potential buyer can be overwhelming. The constant back and forth from a prospect demanding more information makes you want to rip your hair out.
This guide is meant to help you sell your nursing home faster and avoid wasting time with demanding buyers.
It can be said that nursing homes are one of the most complex businesses out there. You not only have to worry about the standard concerns such as payroll, employee relations,finances, growing revenue and facility expenses. Skilled Nursing Facilities have additional concerns such as healthcare,mortality, intense government regulation and extended families.
Having people that are not experienced in nursing home sales transaction can be disastrous for you. They will be learning on your dime. They will delay getting things done while frustrating your staff and buyer.
You already know that you have to keep it a secret from your staff and residents (and family). How are you going to get the word out when you have to keep it a secret?
Time to cash out? Regulations bringing you down? If it is time, it is time. To achieve your financial objectives, you will want to prepare your facility at least 6 months before putting it on the market. 6 months, you ask? I want it sold in 6 months, not just get started in 6 months. Realistically, it won’t sell that quickly. You can expedite things by doing the following activities to increase your nursing home value while speeding up the sales process by making it easier for buyers to make their decisions.
If you are selling your nursing home, make sure to keep your staff in the dark. Your CNAs & CMAs will start looking for jobs when they hear you have your facility on the market. Even though they are the lifeblood of your facility, they are still skittish about their jobs. You also don’t want your residents to know anything, specifically the family of the residents.