Holistic Home Care Business
So, you want to start a home care business, but you’re not sure where to start. How do you make your goal a reality? If you’re like any other new business owner, you’re likely to have a lot of questions about where to start and what to do next. Never fear! This one page guide to starting a home care business will provide you with a simple outline that will help you along the way.
A goal is a dream with a deadline. Before you get started, there are some things you should know. After all, you don’t want to be out of business before you’re able to share your unique gifts and vision with the world, do you?
First, you’re going to need to determine what type of home care business you want to operate. You have four choices. They are:
Buy a Franchise. Costly and rigid, franchises are not the best option for everyone. For example, there are a number of different companies one can buy a franchise from but the start-up costs are astronomical and getting the support you need to be a successful business owner can often be a challenge. Even more importantly, franchises are subjected to the economy. If the company you purchased the franchise from goes bankrupt, where does that leave you?
Join a Membership Network. You can get the training and support that you need through a home care membership network or training company. This is an option if complex rigid contracts aren’t something you want to deal with.
Create Your Own Company. This is the best option for anyone wanting to experience success on their own. People go into business for themselves every day. You could join the likes of many successful businesses and even start out of your own home or small office. This will allow you to keep costs low because your employees and independent contractors will be working out of client homes. You won’t need a big office building so that’s one less expense for you. It is important however to secure some training from someone who knows the business and has a proven system.
Buy a Company That’s Already in Existence. Rather than start from the bottom up, you can purchase a home care company and become its new owner. This allows you to benefit from being an established business and still have the opportunity to make your mark as a new business owner in your community. You can use the training that you received to re-brand and market the business. If you choose this route, it will typically require a significant investment and you should be aware that in some cases you might have to do some heavy clean-up in regards to current business practices, accounting processes, and reputation management.
If you’re planning on getting into the home care business, you’re going to need to know the laws in the state you plan to work out of. Each location is different and in order for you to be compliant, you’re going to need to know what is required of you as a home care services business owner.
Advantages of Starting a Home Care Business
The advantages of starting a home care business are plentiful. In addition to knowing that you’re providing valuable care to your clients, you will also find these factors enticing:
You get to deliver personal care in the home of your client.
You don’t need a large building to work out of because of your home or small office.
There is very little inventory needed to provide home care services.
The training that you need to start a home care business is minimal.
Non-medical service providers have fewer regulations in most states.
Home care is one of the fastest growing industries for new businesses.
The investment is much smaller when compared to other business start-ups.
As you can see, there are a number of different things about starting a home care business that can be considered advantageous. It requires comparatively low start up capital, can be started from your own home, and requires little training. What you lack in experience, you make up in skill, client services, and professionalism.