Buying A Care Home Business
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Buying A Care Home Business
Buyacarehomeis a consortium owned and operated by Chandler & Co which is a trading nameof Wateringbury (Maidstone) Ltd, registered in England No. 10877062. Registered Office: Stratus House, Emperor Way, Exeter Business Park, Exeter, EX1 3QS. Wateringbury (Maidstone) Ltd trading as Chandler & Co is authorised and regulated by the Financial Conduct Authority. Our Firm Reference number is 788501. Not all types of business we undertake is authorised and regulated by the Financial Conduct Authority. Chandler & Co works independently as a Credit Broker providing advice on commercial mortgages and is not a lender. Chandler & Co may receive remuneration from lenders. Credit provided is subject to financial circumstances and status.
However, although the mid to long term return on investment may look attractive, buying a care home is not for the faint-hearted. Unsurprisingly, this is a highly regulated sector and prospective purchasers need to be realistic about the skills, commitment and finance required to succeed.
Nursing homes are essentially private hospitals for elderly residents requiring high levels of care. They are managed and staffed by nurses and professionals with advanced levels of medical and care training.
By law, all care homes in England are responsible for making sure that the care they provide meets national standards of quality and safety. The regulator of health and adult social care in England is the Care Quality Commission (CQC). Care homes not registered with the CQC are not be allowed to operate.
The law makes requirements of CQC, setting out the powers it has to regulate care home services. The relevant legislation includes the Health and Social Care Act 2008 (Regulated Activities) Regulations 2014 and the Care Quality Commission (Registration) Regulations 2009. In compliance with this legislation, the CQC has drawn up a number of Regulations with which care home owners must comply. You can find the full list of current Regulations and relevant legislation on the CQC website at:
You will be inspected on a regular basis, twice a year, through unannounced inspections, at any time of day or night. If the CQC find your care home is not meeting the required standards, you will be asked to address the issues and may be fined and/or given a formal warning. Ultimately, the CQC may stop your home from accepting new residents or even strike you off the register.
In addition, at least 50% of the staff in your care home must be trained to NVQ Level 2. Finding and retaining staff of the right calibre can be problematic and there is much movement within the industry. This may have a negative impact on the level of care you are able to provide unless you can provide sufficient incentive for good people to stay.
There are strict regulations relating to care home premises. These include minimum floor space requirements for communal areas and private rooms, minimum ceiling heights, the provision of sufficient safe and adequate access and egress points, the provision of suitably positioned hand and grab rails, regulations relating to ensuite facilities, storage, catering and laundry and a whole host of other measures.
If you are buying an existing care home business, you need to be absolutely certain that the premises meet all necessary requirements or, if not, that you understand what the failings are and have the scope, finances, and any necessary permissions required to bring the premises up to standard. The due diligence phase of your deal (where your solicitor will have the opportunity to question the seller and inspect premises and documentation) will be critical in establishing whether your proposed purchase is a commercially sound proposition.
Similarly, if you are planning on buying residential premises to convert into a care home, you will also need to be 100% sure that you have the necessary space, capability and finance to make any necessary changes to the property. And, of course