Looking for a general manager to run an $8M+ home care business in Denver
The short version
Nearly five years ago, I bought a Visiting Angels home-care business in Denver. In that time we grew from ~$5MM in revenue and ~$800k in SDE to more than $8MM in revenue and more than $2.1MM in SDE.
This year we’re down from last year’s peak, and we’ll likely land in the $1.8-1.9MM SDE range. I no longer have the desire to get it to the next level and give it the attention it needs. So I’m making this post to see if there’s interest out there from anyone in joining the business as a general manager. I have a lot of flexibility on how we could structure your role and incentives to find something that works well for both of us.
What prompted this post
I've been very happy with my decision to pursue ETA. The business has done well, we have a solid team, and owning it has given me more time with my kids. For the past couple of years, I haven't done much in the day-to-day business. Nearly all of my time now is spent building automations and AI tools to make the team’s job easier.
I’m sure most of you will wonder why I don’t just sell it. The main reason is that last year was a significant step up in earnings, and I think the business will be worth considerably more if we can show that performance is repeatable and capture some of the clear opportunities we’re currently leaving alone. I’m not committed to holding it forever, but I also don’t feel any urgency to sell it today.
You’re probably also wondering why I don’t just grow it myself. The honest answer is that I don't want to. Working fewer hours, keeping my stress down, spending time with my kids, and pursuing other interests (a new business that builds tools for home care agencies) matter more to me.
The business and the job
The business is not complicated. We recruit caregivers, attract clients, and manage the schedules and relationships between them. Success in home care is mostly about continually getting better at those basics. We have around 200 caregivers and have an office team of about a dozen people.
The office team runs the daily operations. You would manage the office team and own the overall P&L, growth, and projects that keep getting pushed aside by daily issues.
You do not need home-care experience, a previous GM title, or formal P&L experience. But I am looking for someone who has managed people, taken real responsibility, and can point to things they made better themselves.
This job is in person in the Denver metro. I’m open to folks willing to relocate, but you need to be in the office with the team every day to build trust. This is not a remote job.
I will be around as needed, but the goal is for you to take it over while I move into an advisory role and I can focus on my other interests.
Compensation and the numbers
I haven't decided on one compensation structure. It will include a competitive salary plus performance-based upside, which could include annual bonuses, a longer-term growth or earnings incentive, participation in a future sale, or some combination of those.
I know the economics need to be a legitimate alternative to searching for and buying a business yourself. If you materially improve the business, I want you to do well too. The exact structure will depend on the person and what works for both of us. We’ll discuss this fairly early in the process.
If there appears to be a fit and we’re generally aligned on the economics, I’ll open the books. That will include read-only QuickBooks access, historical financials, and operating data. If everything still makes sense after diligence, the final step would be an onsite visit in Denver to meet the team before either side commits. I want you to be able to evaluate the business much like one you would buy yourself.
Interested?
Send me a résumé and/or LinkedIn profile and a few bullets about why this interests you, why you think you could be good at it, and whether you’re willing to relocate if necessary and work in the Denver office every day.
Email me at redacted Looking forward to hearing from some folks!