Essex Life - - Rich List -

Care Homes, £55m

Af­ter train­ing as an ac­coun­tant with Price­Wa­ter­house­Coop­ers, Avnish Goyal de­cided not to en­ter the pro­fes­sion. He went into prop­erty in­stead work­ing with his par­ents’ prop­erty port­fo­lio, but his par­ents-in-law, both doc­tors, had built a care home and he saw that this could be a prof­itable busi­ness. In 1997 he launched Bil­ler­icay-based Hall­mark Health­care with its first 44-bed home, cost­ing £850,000. To­day it operates 17 care homes and has been re­bal­anc­ing its port­fo­lio to con­cen­trate on South Wales and the south and east­ern part of England. In 2013-14 Hall­mark made a £6.7m profit on £46.15m sales and showed £28.6m net as­sets. The £65m op­er­a­tion is nearly 82% owned by the Goyal fam­ily. Other as­sets take the Goyal fam­ily to £55m.

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