IN-HOME CARE
When Reid Grier worked in private equity in North Carolina and West Palm Beach, he was always on the hunt for the best investment. He eyed service-based businesses with recurring revenue in growing markets.
Right at Home checked all the boxes. Founded in 1995, the Omaha, Nebraska-based franchise offers in-home care to seniors and adults with disabilities who want to live independently. Its 700-plus locations in the U.S. and five other countries supply caregiving staff for more than 30,500 clients.
Florida is home to 44 Right at Home offices. Grier acquired the Miami Beach location in 2020 — and then the Jacksonville location in 2022, and then the Palm Beach location in December. He says he hires at least five quality applicants per office per week, adding up to nearly 500 employees to serve around 300 clients.
“I think this country is going to have a reckoning in the next 20 years, when the baby boomers are at that age where the vast majority are needing care like this,” Grier says. “Study after study tells you that seniors want to stay in their own home. I think that’s common sense. ... Our business is absolutely tailored towards those folks.”
Right at Home offers a range of in-home care options — which most customers pay for out of pocket — from basic companionship to specialty care. Each relationship starts with a supervised introduction between a caregiver and client, along with several follow-ups to tailor care plans. Services range from $27 to $37 an hour, depending on shift lengths and care needs.
Home health employs more than 76,000 Floridians and contributes around $5.9 billion to the state’s economy, according to the Research Institute for Home Care. Grier says revenue from his three Right at Home locations has grown at least 25% per year, adding up to somewhere between $7 million and $10 million. As demand for such services grows in Florida, he’ll be there “with open arms” if other location owners want to sell.
As demand rises, so does competition, making it essential that a business stands out from the pack, he says. “South Florida especially is extremely saturated with competitors. ... It seems like everyone and their brother wants to take care of seniors right now, so we’re definitely navigating through that.”