Thinking of starting a non-medical home care business of your own? It has been expanding rapidly to meet the growing demand of the senior citizens. From 2010, baby boomers have been reaching the age of 65. According to U.S Census Bureau, their numbers will jump to 83.7 million by the year 2030, almost 20% of the total American population. Isn’t the demographic satisfying and empowering you to consider a non-medical home care business. It can be a gratifying endeavor if you are hard working and enthusiasts enough to provide a selection of non-medical home care services to elderly and disabled persons. Mainly it includes individual care and support to day-to-day living activities, food preparation, household works as well as providing conveyance. These simple activities are quite essential for those people who want to reside in their homes, safe and comfortably.
When you are planning to get started in this venture, you need to decide whether you want to operate the business of your own creating an independent home care agency or join up a reputed franchise purchasing their membership. You should make a decision at the very first stage of your planning. Actually both have some benefits and shortcomings. When you buy a home care franchise, they would give you business access and training and on-going support but also verify your financial capacity.
If you have limited start-up capital, then it is better to start a non-medical home care business independently hiring some skilled staffs to help in your business. It has a several benefits including low capital investment, minimal formal training, and complete control over the finance and business strategies. Most importantly, you can operate this business from your home or setting up your own office.
There are some basic steps that should be considered when starting your own non-medical home care business. Please take a look at the requirements and also the steps it take to start your new business.
1. Make a Insightful Business Plan
Write down a simple but insightful business plan. It should include your business objectives, information about business entity set-up, licensing requirements, start-up expenses, insurance coverage, billing system, marketing plan and about the finance structure. If you need to set up your office in a rented place, then you need to include the detailed information of setting up the office like office rent, office equipment and supplies, the number of recruited office staffs etc. In your non-medical home care business plan, you should clearly mention who will be your consumers and how will you deal with them and whether you are hiring any caregivers.
2. Determine the Business Structure
You need to determine the structure of the business based on your business objectives. You may choose from sole proprietorship, partnership or Limited Liability Company (LLC). If your plan is to become an independent contractor, then you should go with sole proprietorship as it has many tax benefits. I would suggest you to seek advice from a CPA or an attorney about setting up the business entity.
3. Apply for Employer Identification Number
You need to apply for a unique Employer Identification Number by filling out a Form SS-4. It is essential for your home care business even if you have no employee working in your business.
4. Register Your Business
Choose a business name carefully as it would create your branding image. Later register it with the local or State government agency depending on where you are starting the business. Next you should open a bank account for the business and also establish the credit card account.
5. Meet The Other Licensing Requirements
In order to run your business lawfully, you need to get some business licenses and permits. You may know the licensing requirements vary depending on which type of business you are running and what government rules are applicable in the area you are operating the business. So I would advise you to check your state government website.
6. Recruit The Caregivers
You should hire some professionals who are hard working with smiling face and have the ability to solve any problem at ease. It is very important for strengthening the reputation of your business. To recruit the best fitted caregivers, you can place employment ads on reputed job sites and online employment agencies or place ads on local daily circulated newspaper. Otherwise you may contact local nursing community colleges or senior centres for appointing support staffs.
7. Develop your Marketing Plan
Developing a thoughtful marketing plan is somewhat essential for your non-medical home care business. Though seniors are your main clientele but you shouldn’t target them for the marketing purpose as they are sometimes reluctant or overlook the need of home care services. It is better to focus on their guardians as they would understand the importance of home care facilities to look after their aged parents. You may include the following strategies in your marketing plan.
- Develop a Professional Website and illustrate the services you are providing to your clients.
- Associate with referral sources like hospitals, rehab centres etc.
- Connect with your local chamber of commerce for getting referrals.
- Place Ads In Local Newspaper
- Print letterhead, business cards and brochures and hand out in your community