How to Start a Home Care Business

If you are thinking about how to start a home care business, there are many factors to consider, from licensing to drawing up a business plan. However, the first thing to decide is whether you want to start the business from the ground up or become a franchise owner.

Investing in a franchise is often the best route, particularly if you are new to the industry. Here’s why:

• Brand recognition: Successful franchises are well-known companies with respected brands and established customer bases.
• Proven business model: A well-structured and proven business model is key to business success.
• Facilitating financing: You are much more likely to obtain funding for your franchise than a solo business venture because of its history of success.
• Training and support: A franchise will provide initial training and ongoing support throughout the term of your franchise.
• Reduced risk: Franchises are often more resistant to failure than sole proprietorships.
• Advertising and marketing assistance: Typically your franchisor will provide you with company materials and help with advertising campaigns.

How To Start A Home Care Business Step-By-Step

Ask any franchise expert how to start a home care business and they will tell you that when you are looking for a franchise home care business for sale, there are certain steps you will need to go through. These are:

• Research your franchise options: When you are considering how to start a home care business think about things like the size of the company, how long they have been in operation, and how many units they have. It’s also a good idea to check out testimonials from other franchise owners to get an insider view. When you find a franchise opportunity you’d like to consider, contact them to request a Franchise Disclosure Document (FDD). This will give you all the information you need about investment costs.
• Draw up a business plan: Your business plan is not only a roadmap to help you on your franchise journey, but it will also help you obtain funding. It should include:

1. Your skills and experience.
2. A breakdown of the senior home care market in your location.
3. The costs of buying and setting up your franchise and how you will obtain financing.
4. Details about your competitors and how your franchise will differ.
5. Your short-term and long-term business growth plans.
6. How you will recruit staff and manage the company.
7. A marketing plan including how the franchise will assist with this.
8. Financial projections for the first three years.

• Fulfill your licensing requirements: You will not be able to operate your senior home care franchise without the required licenses. The licensing types vary based on the type of home care services you are providing and the state where you are located.
• Create a unique selling proposition (USP): This is your chance to show how your senior home care business shines out above the rest. List all your franchise’s differentiators. It’s also a good idea to develop client personas based on your target demographics and explain how your franchise meets their needs.
• Obtain funding: In preparation for securing funding, you should open a business checking account and obtain a business credit card. That way you can keep all your franchise funds separate from your personal finances. When you are applying for funding, check your list of projected expenses, so you can be sure you’re applying for enough money to cover everything.
• Sign your franchise contract: You are now all set to become a senior care franchise owner. Once you have signed your contract, you will begin your initial training in preparation to open your business. Your franchise team will assist you with setting up your business and provide ongoing support to help it flourish.

Why Choose Home Matters Caregiving: A Guide on How to Start a Home Care Business

You’ll find that there is no better home care business for sale than Home Matters Caregiving. We know everything there is to know about how to start a home care business. Here’s how we make a difference to our franchise owners:

• An experienced leadership team: Our two founding partners have a combined 29
  years of success in the home care industry. We take pride in supporting our franchisees
  and their care professionals.
• An innovative approach to senior care: Home Matters is a leader in leveraging care technology. But that’s not all, we are also dedicated to the development of innovative processes and strategies that help to deliver the best possible care consistently. Our unique approach to care has earned us multiple industry awards.
• A dedicated ethos of care: This is based on a decade of research about the factors contributing to successful aging. Our unique methodology incorporates optimal physical care with purposeful strategies for emotional well-being.
• A matchless vision: To truly be a successful company, Home Matters provides great care for their clients and great careers for their employees

The Home Matters Caregiving team is looking forward to getting to know you. Reach out to us to find out more information about how to start a home care business.