Starting your own senior home care business can be a great way to become your own boss in a rapidly growing field. It is a kind of self-employment that can offer opportunities to make a solid income and provide job security for the future. Going independent, also lowers your start-up costs, as you don’t have to pay franchise fees, this makes the business more affordable.
Moreover, senior home care business is recession-proof, as people get older and need help regardless of whether the economy is booming or in recession. Starting a senior home care business that is not a franchise opportunity gives you a chance to tap into a potentially lucrative business venture. Senior home care agencies are small businesses that provide seniors and disabled adults with personal care and light housekeeping services.
These services allow seniors and disabled to stay in their homes and receive services there, rather than moving into a nursing home.
Here are steps on how to start Senior Care Business from Home
You should have a proper business plan before you start. Your plan should include a description of your agency, your budget, your marketing plan, payment systems and your plan for recruiting, training and paying your caregivers.
You have to decide whether you need to hire administrative staff immediately and whether you need to rent office space initially or work from your home office.
Skills and Training Required
Formal education or medical training is not required to start a senior home care business. You should possess four important skills like common sense, caring compassion, honesty and organizing skills. These skills will help you to schedule clients, errands and household tasks at client’s homes.
Honesty is essential because without it you’re your clients will never trust you or recommend you to other seniors, this is the best way to build your business.
Choose the Services you Want to Offer
Making a list of the services you plan to offer is an essential step in starting the business. Research the market and find out the services which are in demand in your area. Some specialize in respite care, others enjoy housekeeping and others love to run errands. Consult other senior home care providers to know what services are needed most in your town.
The list will be a part of your flyer or brochure, or an advertisement and your website. At the end of the list, you can ask for suggestions from clients, this allows you to make sure that you are meeting the needs of all your prospective clients. There is always a possibility that you will miss a few in-demand services when you make up that list.
Name your Business
When you are done with the business plan and the list of services, you should move on to the next step of deciding the name of your business. You should think of a name which is something catchy and memorable. You can consider adding the name of your town, or even your own name in the business name.
Check in your state and find out whether anyone else is using your own name and whether it is trademarked and registered. Some examples include “Senior Helpers”, “Eldercare Angels”.
Costs of Starting the Business
The costs associated with starting a senior home companion business is not that high. If you have a reliable vehicle and a cell phone, you have already got the essentials you need. Keep your office at home to avoid spending money on rent, utilities and other costs of a separate office.
Spend only on essentials that are required for operating your business, think and act like a miser until your business income is steady and solid.
Setting your Rates
You need to be aware of the rates that are being charged by your competitors before fixing your own. Charge less in the initial phase of the business but avoid charging too low to avoid losses. Many new senior homecare businesses make the mistake of not charging enough to cover all their costs, as they haven’t been in business long enough to be aware of all the little costs like licenses, social security taxes, vehicle maintenance which add up over time. Arrive at a reasonable rate that allows you to make a reasonable profit and still makes your client happy.
Use different marketing techniques and strategies to make your business popular and attract more customers. Distribute business cards, flyers among customers and put banners in crowded places like railway stations, hospitals to make people aware of your business. Local senior centers are a natural spot to post a flyer or leave a few business cards or brochures. Use popular social media platforms to promote your business.
Word-of-mouth technique of marketing can be useful in these types of businesses. Once you have your first few clients and have treated them well for a while, ask them for referrals. Offer a reward, like a free shopping trip in return for a reference that becomes a regular client.
Create a Website
You need to create a website that is well-designed with the help of a professional. The website will help you to increase your web presence and allow to interact with a greater number of customers who stay far away from your locality. Display the list of your services on the website and all other relevant information related to your business like the profile of your employees. The website will also allow you to get all the relevant feedback and reviews.
To sum it up these are the few steps that will make it easier for you to start a senior home companion business from home and make it successful. The business can turn out to be a profitable venture if you have the ability to manage it efficiently and provide top quality service to the clients. The staff you hire needs to be patient while dealing with elderly people. Start slow and try to build it gradually with patience. Don’t forget to register your business with a government agency and obtain all the licenses and permits related to senior homecare businesses before you start.
Here is the infographic which gives you more ideas about home care industry stats and Trends. Read More