A large portion of baby boomers are business owners because the scarcity of jobs when they entered the workforce drove them to create their own jobs and become...
Case Study: Senior Care Company
Morgan & Westfield has helped sell 100% assets of the company, a ComForCare franchise in Arizona. We formed a team of trusted advisors for the sale. Our pricing strategy includes normalizing the financial statements, determining weighted average and preparing a valuation. Our positioning and packaging strategy involves preparing a ‘Selling Memorandum’ that highlights the company’s competitive advantages. Our marketing strategy includes confidentially marketing the company through 15-20 online web portals, screening the buyers, and showcasing the company to hundreds of brokers. With teamwork, persistence and mutual trust from those involved in the sale, the company was sold in about 17 months.
The Sellers' Background
Ed and Mary Antonowicz, the business sellers, have been in the IT industry and the healthcare industry, respectively, for over 20 years.
The couple has purchased the business in 2003. The business is a great fit for the couple who was then looking for a career opportunity that would also allow them not only to grow a business but also to serve the community.
ComForCare is a premier company with over 130 locations across the US, in Canada and in the UK. As of the leading home care franchise companies in the US, ComForCare provides private-duty home care services to people of all ages. The company helps make life easier for those coping with a chronic medical condition, recovering from an illness or injury, or dealing with the challenges of aging – in the comfort of their own homes.
ComForCare Corporate was founded in 1996 and started franchising in 2001. ComForCare of Scottsdale, Arizona opened in 2003 as the corporate’s 11th franchise. It has been awarded as ‘Franchise of the Year’ in 2006 and in 2009.
ComForCare personal care aides, certified nursing assistants and home companions are available 24 hours a day, 365 days a year. They provide services for as little as a few hours a week to around the clock, every day in any setting you call home – whether it be a private residence, a skilled-nursing facility or an assisted or independent-living community. ComForCare’s caregivers provide personal care, homemaking, transportation, companionship and family respite services.
Ed Antonowicz, a teacher by training, and his wife Mary, an occupational therapist, bought a ComForCare franchise in Scottsdale, Arizona in 2003. Their business won ‘Franchise of the Year” in 2006 and in 2009. They sold their successful franchise business in 2015 through Morgan & Westfield.
From the education industry, Ed found his way into the world of business and sales and spent over 20 years selling computer and software applications to Fortune 500 companies. Bringing his business savvy and driven by the desire to find a more satisfying career, he transitioned into the ComForcare business and leapt into his role of company CEO and community liaison. A member of the Better Business Bureau, Scottsdale Chamber of Commerce, Senior B2B Networking, and NPDA, Ed has also taken a leadership role as a board member and President of the Arizona Non-Medical Homecare Association.