With more and more people wanting to age in place, there are several services that are being provided straight to the home. One of the fastest-growing industries is private duty home care. Find out how you can start your very own non-medical home care enterprise and perhaps discover franchise opportunities for home healthcare.
How to Start
You can consult with a lawyer to help you set up a business that best matches your needs and preferences. You have the following options:
- Buy an existing private duty home care company. It can be expensive, but it is less risky.
- Join a network in your area. Membership networks offer initial training and continued support. It is a cross between owning and franchising.
- Get a franchise. Franchise opportunities abound, and it is a tried and tested business model. You will get support from your franchisor.
- Start your business from scratch. You can have lower startup costs, but there may be risks involved.
Set Up Your New Business
Next, you need to get a federal employer identification number or EIN from the IRS. Register the business in your locality. Once you have your business name and you are sure it is available, you can have your letterhead, brochures, business card, and other materials printed.
Moreover, you have to check with your state if a license is needed to operate any personal care business. Finally, know the licenses and other requirements you have to comply with.
As you start your business, you need to create a credit card and checking account for it, too. Establish a computerized and centralized billing, scheduling, and accounting system. Allot at least three months of capital for your company. Ascertain your rates and set up your payroll. Find a location in your area where care is affordable and without too much competition.
Craft Your Purchase Plans, Policies, and More
You must have a set of policies and procedures, such as the following:
- Care plans
- New client admission
- Employee and payroll
- Hiring and HR policies
- Training and orientation
- Client billing
Hire Employees and Staff
Now, get a support staff. Get the best caregivers, as your business’ reputation relies on it. Spend some time to closely review your prospects and do a background as well as reference checks.
Create a Sales and Marketing Plan
Sales and marketing are very critical for any business. The best marketing often comes from word of mouth and it spreads like wildfire to people. Know the best sources of referrals in your area, such as senior centers, rehab centers, churches, medical home care companies, local doctors, and lawyers.
Private home duty care can be a very rewarding enterprise to operate, both emotionally and financially. Taking care of and giving back to our elderly can bring a sense of fulfillment and purpose like no other. But always bear in mind that this is a business. Do your homework diligently. Plan and explore all of your options and create the right choices for you and our elderly loved ones.