business plan for senior home care

Senior Home Care Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Healthcare and Medical » Home Healthcare for Seniors

Are you about starting a senior home care center ? If YES, here is a complete sample senior home care business plan template & feasibility report you can use for FREE .

Taking care of senior citizens in the United States, Canada and in most developed countries of the world is indeed brisk business.

As people grow old, they ensure that they put plans in place that will make them live the rest of their life with fully support from professionals who are trained to take care of elderly people.

Taking care of senior citizens involves, housing them and helping them handle basic day to day task like bathing, taking their drugs, exercising, cleaning them up amongst other tasks.

There are people that are gifted with the ability to take care of senior citizens. If you thing that you have flair for taking care of the elderly, then you should consider starting a senior care home in your city.

A Sample Senior Home Care Business Plan Template

1. industry overview.

Operators in the industry senior care franchise industry largely provide residential and personal-care services for elderly individuals (senior citizens) who are unable to fully care for themselves due to old age or one form of age related disability.

Demographic trends have supported growing demand for residential senior care franchises, and the industry has experienced strong growth over the last half a decade.

This growth is expected to improve, driven by an improving economic environment and the continued aging of the population, which will expand the industry’s markets.

The law in the united states and in some countries states that before a senior care facility can commence operations, there should be at least six residents and at least one trained caregiver there 24 hours a day and 7 days a week.

So also, a standard senior care facility is expected to have a house manager, night manager, weekend activity coordinator, and 2 or more caregivers depending on the size of the facility.

The Residential Senior Care Franchises Industry is indeed a very large industry and pretty much thriving in developed countries such as United States of America, Canada, United Kingdom, Germany, Australia and Italy et al.

Statistics has it that in the United States of America alone, there are about 1,467 licensed and registered Senior Care Facilities scattered all across the United States responsible for employing about 106,609 employees and the industry rakes in a whooping sum of $3bn annually with an annual growth rate projected at 11.7 percent between 2011 and 2016.

Beehive Homes can comfortably boast to won the greater percentage of the available market in this industry. A recent report published by IBISWORLD shows that the Residential Senior Care Franchises industry has boomed during the five years to 2015, driven by the aging population and a growing need for dementia care.

The report further stated that, the industry, which provides residential and personal-care services for elderly individuals who are unable to fully care for themselves, has been increasingly orienting itself toward the provision of dementia care as the population continues to age; this can include medical and social assistance with the activities of daily living, such as bathing, eating and dressing.

Although franchises that primarily provide inpatient nursing and rehabilitation services are excluded from this industry, many facilities provide some nursing care and other medical supervision.

Over and above, the senior care line of business in developed countries is still enjoying good patronage particularly if they are well positioned and if they know how to reach out to their target market; the aging population and those who can’t take care of themselves.

2. Executive Summary

Mary &Joseph® Senior Care Home, LLC is a standard and licensed senior care facility that will be located in the heart of Montgomery – Alabama in a neatly renovated and secured spacious housing facility.

Our senior care facility is specifically designed and equipped with the needed accommodation facilities / gadgets to give comfort and security to all our residence irrespective of the religious affiliations, their race, and health condition.

We are set to take care of senior citizens who can’t take care of themselves. Mary & Joseph® Senior Care Home, LLC is a family owned and managed business that believe in the passionate pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to venture into the hospitality industry by establishing our own senior care facility (assisted living facility business).

We are certain that our values will help us drive the business to enviable heights and also help us attract the numbers of residents that will make our facility fully occupied year in year out.

Despite the fact that we are a senior care facility, we are going to be a health conscious and customer-centric with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization.

With that, we know that we will be able to consistently achieve our set business goals, increase our profitability and reinforce our positive long-term relationships with our clientele, partners (vendors), and all our employees as well.

Our accommodation facility will be decorated in an exquisite and elegant facade, so much so that it will be a conspicuous edifice in the city where it is located. Mary & Joseph® Senior Care Home, LLC will provide a conducive home for our residents.

We will engage in services that will help residents in our facility complete daily basic and simple tasks, such as taking medication or bathing, making dinners, having conversations, making appointments, and getting to work or a day service, budget their personal allowance, select photos for their room or album, meet neighbors and “carry out civic duties,” go grocery shopping, eat in restaurants, make emergency calls or inquiries, and exercise regularly amongst other activities.

Mary & Joseph® Senior Care Home, LLC will be equipped with everything that will make life comfortable for the elderly – senior citizens.

We will as build a fitness room and library et al. We will also install a free Wi-Fi that will enable our residents and guests surf the internet with their laptop in the room free of charge, and there will be wireless access in all the public area within the lodging facility.

Mary & Joseph® Senior Care Home, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Mary & Joseph® Senior Care Home, LLC is a family business that is owned and managed by Cloe Hayward and her immediate family members.

Mrs. Cloe Hayward is a licensed non – medical home care administrator and social health worker with well over 10 years of hands on experience working for leading brand in the industry.

She has a Master’s Degree in Public Health and she is truly passionate when it comes to taking care of the aging population and people with one form of disability or the other.

3. Our Products and Services

Mary & Joseph® Senior Care Home, LLC is set to operate a standard senior care facility in Montgomery – Alabama. The fact that we want to become a force to reckon with in the Senior Care Facility industry means that we will provide our resident a conducive and highly secured accommodation.

In all that we do, we will ensure that our residents are satisfied and are willing to recommend our facility to their family members and friends.

We are in the senior care business to deliver excellent services and to make profits and we are willing to go the extra mile within the law of the United States to achieve our business goals, aims and objectives. Mary & Joseph® Senior Care Home, LLC will provide the following services to her clients;

• Alzheimer’s disease and dementia care
• Respite care
• End-of-life care
• Interactive care and other services
• Providing room and board
• Nursing and other supervision
• Assistance in daily living
• Housekeeping services

4. Our Mission and Vision Statement

• Our vision is to become the number one choice when it comes to senior care facility in the whole of Alabama and also to be amongst the top 10 senior care facilities in the United States of America within the first 10 years of establishing the business.
• Our mission is to build a senior care facility that will meet and surpass the needs of all the residents of our facility; we want build a profitable and successfully business brand that in the nearest future will sell franchise all across the United States and Canada.

Our Business Structure

Mary & Joseph® Senior Care Home, LLC is a business that will be built on a solid foundation. From the outset, we have decided to recruit only qualified professionals (non – medical home care administrator, nurse’s aides, medication management counselors, county aging worker, rehabilitation counselors, and home caregivers) to man various job positions in our organization.

We are quite aware of the rules and regulations governing the senior care facility industry which is why we decided to recruit only well experienced and qualified employees as foundational staff of the organization. We hope to leverage on their expertise to build our business brand to be well accepted in Minnesota and the whole of the United States.

When hiring, we will look out for applicants that are not just qualified and experienced, but homely, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more. These are the positions that will be available at Mary & Joseph® Senior Care Home, LLC;

• Chief Executive Officer
• Facility Administrator (Human Resources and Admin Manager)

Nurse’s Aides

• Home Caregivers /County Aging Workers
• Sales and Marketing Executive
• Accounting Officer
• Security Officer

5. Job Roles and Responsibilities

Chief Executive Officer:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board.

Facility Administrator (Admin and HR Manager)

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Design job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily home activities.
• Responsible for managing our residents (senior citizens) in their various houses
• Handles personal injury case management
• Responsible for offering home medication management services.

Marketing and Sales Executive

• Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents Mary & Joseph® Senior Care Home, LLC in strategic meetings
• Helps to increase sales and growth for Mary & Joseph® Senior Care Home, LLC.

Accountant / Cashier

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for the organization
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for Mary & Joseph® Senior Care Home, LLC
• Serves as internal auditor for Mary & Joseph® Senior Care Home, LLC.

Security Officers

• Ensures that the facility is secured at all time
• Controls traffic and organize parking
• Gives security tips to staff members from time to time
• Patrols around the building on a 24 hours’ basis
• Submits security reports weekly
• Any other duty as assigned by the facility administrator
• Responsible for cleaning the facility at all times
• Ensures that toiletries and supplies don’t run out of stock
• Assists our residents when they need to take their bath and carry out other household tasks
• Cleans both the interior and exterior of the facility
• Handles any other duty as assigned by the facility manager

6. SWOT Analysis

Mary & Joseph® Senior Care Home, LLC is set to become one of the leading senior care facilities in Montgomery – Alabama which is why we are willing to take our time to cross every ‘T’ and dot every ‘I’ as it relates to our business. We want our senior care facility to be the number one choice of all senior residents of Montgomery and other cities in Alabama.

We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process as it relates to setting up a business.

Even though our Chief Executive Officer (owner) has a robust experience in social work and taking care of people with disability and the aging population, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to indeed become a leader in the senior care facility industry.

This is the summary of the SWOT analysis that was conducted for Mary & Joseph® Senior Care Home, LLC;

Our strength lies in the fact that we have a team of well qualified professionals manning various job positions in our organization. As a matter of fact, they are some of the best hands in the whole of Montgomery – Alabama and they are professionals who have what it takes to grow business from scratch to profitability in record time.

Our location, the Business model we will be operating on, well equipped facility and our excellent customer service culture will definitely count as a strong strength for us.

Mary & Joseph® Senior Care Home, LLC is a new business which is owned by an individual (family), and we may not have the financial muscle to sustain the kind of publicity we want to give our business and also to attract some of the highly – experienced hands in the senior care facility industry.

• Opportunities:

The opportunities that are available to senior care facilities are unlimited considering the fact that we have growing aging population in the United States and we are going to position our business to make the best out of the opportunities that will be available to us in Montgomery – Alabama.

Just like any other business, one of the major threats that we are likely going to face are economic downturn and unfavorable government policies . It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new and bigger / well established senior care facility, non – medical home care facility or group home facility brand in same location where ours is located.

7. MARKET ANALYSIS

• Market Trends

Because of the essential nature of services provided by businesses such as senior care homes, non – medical home care facilities and group homes et al, the industry was able to grow even in the face of economic stagnation. In addition, the continued growth of the aging population and people with one form of disability or the other has stimulated demand for industry services.

Since the aging population is more prone to injury and illness, and therefore requires more assistance with daily activities, the larger share of senior adults has propelled demand for senior care homes, non – medical home care facilities and of course nursing care facilities . Despite favorable demographic trends, unsatisfactory government funding has hindered industry growth.

The trend in the industry is that, players in the industry are now flexible enough to adjust their services and facilities to attract more knowledgeable and educated residents by incorporating more technology and adapting to new markets. It is now trendier to find senior care facilities with internet facility and Wi-Fi et al.

Another trend in the industry is that, in other to make senior care facility, non – medical home care facilities and group home facilities more affordable for low income individuals, many states in the United States of America are enacting changes to the portion of Medicaid which can be applied to senior care facilities and group Home Facilities.

Before now, only individuals living in nursing homes were typically provided Medicaid assistance, but in recent time, there are now a growing number of states that have recognized the importance of offering Medicaid dollars to senior citizens living in senior care facilities.

No doubt the Senior Care Facility industry will continue to grow and become more profitable because the aging baby-boomer generation in Unites States is expected to drive increasing demand for these specialized services and care for the elderly.

8. Our Target Market

Mary & Joseph® Senior Care Home, LLC is in business to service the aging population / senior citizens in Montgomery – Alabama and other cities in Alabama. We will ensure that we target both self – paying customers (who do not have Medicaid cover), and those who have Medicaid cover.

Generally, those who need the services of non-medical home care facilities are the aging population, people with one form of disabilities or the other and perhaps those who need daily help.

The fact that we are going to open our doors to a wide range of customers does not in any way stop us from abiding by the rules and regulations governing the senior care facility industry in the United States. Our employees are well – trained to effectively service our customers and give them value for their monies.

Our customers can be categorized into the following;

• The aging population / senior citizens
• The aged who might suffer from severe joint pains and every other age categories that fall under the conditions listed by the physician as people who do not necessarily need the services health workers to survive or carry out their daily task.

Our competitive advantage

Aside from the competitions that exist amongst players in the senior care facility line of business, they also compete against other home healthcare services providers such as non – medical home care facilities, assisted living facilities and nursing homes et al.

To be highly competitive in the senior care facility industry means that you should be able to secure a conducive and secured facility, deliver consistent quality service and should be able to meet the expectations of the children / family members paying for their loved elderly parents and senior citizens with disabilities in your facility.

Mary & Joseph® Senior Care Home, LLC is coming into the market well prepared to favorably compete in the industry. Our facility is well positioned (centrally positioned) and visible, we have good security and the right ambience for elderly people and senior citizens with one form of disability or the other.

Our employees are well groomed in all aspect of senior care facility services and all our employees are trained to provide customized customer service to all our residents. Our services will be carried out by highly trained professional nurse’s aides, county aging workers and home caregivers who know what it takes to give our highly – esteemed residents value for their money.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups senior care facility business and other related businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Mary & Joseph® Senior Care Home, LLC will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry.

We will generate income by providing a conducive home for our residents (senior citizens); we will engage in services that will help our residents complete daily basic and simple tasks, such as taking medication or bathing, making dinners, having conversations, making appointments, and getting to work or a day service, budget their personal allowance, select photos for their room or album, meet neighbors and “carry out civic duties,” go grocery shopping, eat in restaurants, make emergency calls or inquiries, and exercise regularly amongst other activities.

These are the services we will offer to generate income for the business;

10. Sales Forecast

One thing is certain, there would always be elderly people and senior citizens with one form of disability or the other who would need the services of senior care facility.

We are well positioned to take on the available market in Montgomery – Alabama and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our senior care facility business and our residents’ base.

We have been able to critically examine the senior scare facility services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Montgomery – Alabama.

Below are the sales projection for Mary & Joseph® Senior Care Home, LLC, it is based on the location of our business and of course the wide range of related services that we will be offering;

• First Fiscal Year-: $100,000 (From Self – Pay Clients); $250,000 (From Medicaid Covers)
• Second Fiscal Year-: $250,000 (From Self – Pay Clients); $500,000 (From Medicaid Covers)
• Third Fiscal Year-: $500,000 (From Self – Pay Clients); $1,500,000 (From Medicaid Cover)

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

The marketing and sales strategy of Mary & Joseph® Senior Care Home, LLC will be based on generating long-term personalized relationships with our residents. In order to achieve that, we will ensure that we offer top notch all – round senior care facility services at affordable prices compare to what is obtainable in Montgomery – Alabama and other state in the US.

All our employees will be well trained and equipped to provide excellent and knowledgeable services as it relates to our business offerings. We know that if we are consistent with offering high quality senior care service delivery and excellent customer service, we will increase the number of our residents by more than 25 percent for the first year and then more than 40 percent in subsequent years.

Before choosing a location for Mary & Joseph® Senior Care Home, LLC, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residents of Montgomery and other cities in Alabama. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the senior care facility industry to help us develop

In summary, Mary & Joseph® Senior Care Home, LLC will adopt the following sales and marketing approach to win customers over;

• Introduce our business by sending introductory letters to residents, clubs for elderly and senior citizens with disability and other stake holders in Montgomery – Alabama
• Advertise our business in community based newspapers, local TV and local radio stations
• List our business on yellow pages’ ads (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing
• Leverage on word of mouth marketing (referrals)
• Enter into business partnership with hospitals, government agencies and health insurance companies to canvas for clients via referrals.
• Attend healthcare related exhibitions / expos to market our services.

11. Publicity and Advertising Strategy

We are in the senior care facility business to become one of the market leaders and also to

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community programs that appeals to the aging population and senior citizens with disability
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
• Install our Bill Boards on strategic locations all around Montgomery – Alabama
• Engage in road show from time to time in location with growing aging population and senior citizens with disability
• Distribute our fliers and handbills in target areas with high concentration of aging population and senior citizens with disabilities
• Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

12. Our Pricing Strategy

Mary & Joseph® Senior Care Home, LLC will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in the United States of America.

On the average, senior care facilities and group home facility service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment.

In view of that, it is easier for senior care service providers to bill their clients based in their discretions. Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal residents especially when they refer clients to us.

• Payment Options

The payment policy adopted by Mary & Joseph® Senior Care Home, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Mary & Joseph® Senior Care Home, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.

13. Startup Expenditure (Budget)

If you are looking towards starting a senior care facility business, then you should be ready to go all out to ensure that you raise enough capital to cover some of the basic expenditure that you are going to incur. The truth is that starting this type of business does not come cheap.

You would need money to secure a standard residential facility big enough to accommodate the number of people you plan accommodating per time, you will also need money to acquire supplies and to pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay take of the daily running cost and overhead.

The items listed below are the basics that we would need when starting our senior care facility business in the United States;

• The total fee for registering the business in the United States – $750.
• Legal expenses for obtaining licenses and permits – $1,500.
• Marketing promotion expenses for the grand opening of Mary & Joseph® Senior Care Home, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
• The cost for hiring Consultant – $2,500.
• The cost for the purchase of insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,400.
• The cost for leasing a standard and secured facility in Montgomery – Alabama for 2 years – $250,000
• The cost for facility remodeling – $50,000.
• Other start-up expenses including stationery ( $500 ) and phone and utility deposits – ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
• The cost for start-up inventory (stocking with a wide range of products such as toiletries, food stuffs and drugs et al) – $50,000
• Cost for the purchase of storage hardware (bins, rack, shelves,) – $3,720
• The cost for the purchase of furniture and gadgets (Beds, Computers, Printers, Telephone, TVs, tables and chairs et al): $4,000.
• The cost of Launching our official website: $700
• Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up our senior care facility in Montgomery – Alabama. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Fund / Startup Capital for Mary & Joseph® Senior Care Home, LLC

Mary & Joseph® Senior Care Home, LLC is a family business that is solely owned and financed by Mrs. Cole Hayward and her immediate family members. We do not intend to welcome any external business partners, which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas Mary & Joseph® Senior Care Home; LLC intends to generate our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $200,000 ( Personal savings $150,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $550,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Mary & Joseph® Senior Care Home, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our senior care services a little bit cheaper than what is obtainable in the industry and we are well prepared to survive on lower profit margin for a while.

Mary & Joseph® Senior Care Home, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the facility: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of Medical Equipment and vans et al: In Progress
• Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Establishing business relationship with clubs for the elderly, hospitals, government agencies and health insurance companies in the United States of America: In Progress

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How to craft a successful home care business plan

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As a home care provider, you run your business with compassion and knowledge of the job and the local community you work with. After you’ve learned more about how to become a caregiver and how to start a home care business , you’re ready to formalize your ideas with a business plan.

How to create a home care business plan

Your business plan is an essential part of the portfolio you’ll present to banks, investors, and partners before launching your company. Every entrepreneur can benefit from a business plan that helps you turn your vision into action and strategize for success. For home care professionals, there are unique additions and considerations for your business plan. From determining your core local clients to developing the marketing plan to reach them, this guide will walk you through nine sections for your home care business plan.

1. The executive summary

The executive summary kicks off your business plan and hooks whoever’s reading it to learn more about your company and your proposal. Think of it a little like a sales pitch for your business and a preview of everything you lay out in your business plan.

A home care business summary should include:

• Your mission and the populations your business will serve 
• A list of your primary services 
• The demand for these services in your community
• What sets your home care business apart from competitors
• Your vision 
• A summary of funding needs

2. The company description

As a home care business working with clients in need, your professional background should be front and center. Your company description offers a snapshot of you and your business, and should include:

• The registered (or intended registered) name of your business
• The location of your company headquarters, and the neighborhoods, area, or city your business will reach
• Management, primary personnel, and their professional backgrounds
• Any licenses or certifications your staff has

Different types of home care services will need different certifications, like medical home care companies compared with senior transportation providers, for example. Make sure to research and include the requirements in your county, city, and state. 

If you’re in the preliminary stages of creating your home care business and haven’t secured the required licenses yet, mention any certifications you’re pursuing in this description.

3. Your business mission and goals

The mission and goals section of a business plan outlines the primary objectives of your company and how you plan to achieve them.

As more Americans advance into the senior age bracket, demand for credible home care businesses is rising. This need can help position your business for success and give you more opportunities to refine your mission and select specific populations to focus on. 

The need for home care help for senior relatives in particular has grown. As home care professional Christine Friedberg reflects, “I used to get on the phone and talk with clients about home care being an option for them or for their loved one, but it was like a new concept…For a long time, we were trying to educate the community about what home care was. Demand is greater than ever now.”

Medicare’s Triple Aim program may provide general inspiration for your own company goals. Their three pillars are :

• Centering and improving patients’ experience of care
• Improving health outcomes of patients served
• Mitigating the cost of care for individuals

From a business perspective, working with specific demographics may give you a leg up on funding. Based in Alexandria, VA, Griswold Home Care works with the area’s large population of aging veterans. To reach more of them, Griswold joined the cross-regional VA Community Care Network to provide in-home services to veterans needing extra support at home.

Not only was Griswold able to reach a specific community in need, but the program also helped this local home care business secure funding directly from the Department of Veterans Affairs . “We’ll see anywhere from 5 to 20 hours a week that the VA is covering, in terms of actually contracting with us directly. They pay us directly…so it’s very easy for the veteran to get in, take advantage of this program and take advantage of this care.”

In the home care industry, other demographics include:

• LGBTQ senior citizens
• People with Alzheimer’s
• People living with disabilities
• Non-seniors living with disabilities
• Adults whose first language isn’t English

Keep your demographic in mind as you refine your company’s identity and plan for growth. It will determine the steps you’ll take to fund your business and reach the neighbors who need you most.

4. Your services

The services section of your home care business plan sets the vision for what your business will specifically do. There are two main types of home care companies and services:

• Non-medical home care services – This type of home care business is not licensed to administer medical services or healthcare to its clients. Instead, they provide support, companionship, and home assistance. Services may include driving clients to doctor’s appointments, taking them to the park, or preparing meals.
• Medical home care services – Medical home care providers are staffed by nurses or other medical professionals licensed to administer medical care to their clients.

With the growing need for at-home healthcare businesses, some of the most common home care services include:

• Assistance with dressing, bathing, and using the toilet
• Companionship and diversion
• House cleaning and support with daily chores
• Transportation
• Hospice care
• Continued education for older adults
• Physical therapy and rehabilitation
• Prescription fulfillment services
• Administering medication
• Tracking vital physical or psychological health 
• Senior citizen relocation assistance
• Specialty nursing for a long-term illness or disability
• 24-hour emergency services

Get specific about what caregiver duties you’ll provide your clients, narrowing down your list with the most needed services in your local community. With 1 in 3 U.S. households on Nextdoor , you’ll be able to connect with neighbors, and your most important clients, with a free business page.

5. Your management structure

This section of your business plan establishes the legal status of your company, which affects other details, from the extent of your liability as the owner to how you’ll file taxes.

The most common business structures for home care providers are:

• Limited liability company (LLC)
• Sole proprietorship
• Partnership
• Corporation

To choose the right business structure for you, consider:

• Liability – Every business is financially and legally liable to compensate for injuries committed on their watch. Consult with an accountant to take stock of your personal assets to choose a framework that gives you adequate protection.
• Taxes – Your home healthcare business structure will determine how the profits you earn are taxed, whether through your business, on your individual tax returns, or a hybrid of both. As a general rule, the larger your company is, or the more shareholders it has, the more complex the tax process will be.
• Growth expectations – Whether your home care company will focus on your neighborhood or expand nationwide, your business structure should reflect your desired administrative capacity and set the stage for investors who want to scale alongside you. 

While S corporations and C corporations are often better suited for larger-scale companies, it’s possible to change the legal structure of your organization as it grows. Consider hiring experts, like a lawyer and an accountant, to help you with this stage of the process, especially if they have advised other local businesses in your area.

6. Your marketing plan

Show potential funding partners you know the modern home care market and set your local business up for success with marketing goals that cover the following bases:

• Digital marketing - In a job as intimate as home care, any new caregiver business begins on the local level. Sign up for a free business page with Nextdoor to instantly unlock a network of verified neighbors near you. Keep your business page updated with your story, photos, and contact information so local clients can find you and easily get in touch. Introduce yourself, share job listings, and keep neighbors updated on your business with free posts or hyperlocal advertising tools to reach more clients in specific ZIP codes you want to grow your business in.
• Partnerships – Qualified home care providers may be eligible to partner with care networks already plugged into local consumer demand. If properly licensed, apply to enroll as a Medicaid or Medicare partner. 
• Word-of-mouth marketing – Since home care professionals are a part of their clients’ and families’ lives, your local reputation will be important. Build trust in you and your services with testimonials on your website and recommendations on Nextdoor. 72% of neighbors there have been influenced by a business recommendation and 71% have shared one. Consider sharing your website and Nextdoor page with former clients to ask them for a recommendation.

Anything that makes your home care business unique, include in this section of your business plan. With a growing population of aging Americans, entrepreneurs are getting creative about the types of care they offer to suit different lifestyles.

Take Dr. Bill Thomas . He thought there should be a senior care option in place of the traditional nursing home so he created Minka, a company that builds small dwellings tailormade for seniors who want extra assistance, community, and autonomy in their advanced years. Says Thomas, “I think there will continue to be congregate housing, but the more choices people find in front of them, the more they’ll find something that suits them best.”

7. Your core financials

The next two sections cover your financial history with projections for your home care business’s future. This will be important for your business strategy, as well as for potential lenders, investors, or partners. 

The finance section of your home care business plan should include:

• Income statement
• Balance sheet
• Expected revenue
• A list of your assets and debts
• A summary of company expenses
• Desired loans

If you plan to enroll as a provider through a network like Medicare, mention in this section of your business plan.

8. Financial projections

This section of your home care business plan is important if you’re asking for an investment of any kind as it covers the funding you’re requesting, what you’ll use it for, and your plan to pay it back.

Financial projections should cover at least three years. Fortunately, the home care industry is slated for financial growth in the coming years. In the U.S. alone, the compound annual growth rate for home health care is projected to be 14.2% between 2021 and 2027.

However you plan to grow your company, speak with your local bank to discuss the full spectrum of financial options before finalizing your business plan. 

You can also connect with fellow home care professionals through Nextdoor for more information on the local home care industry in and around your neighborhood. This will help you get a realistic sense of your financial plan and the next few years operating your business.

9. Appendix

Your business plan’s appendix is where you’ll include any supporting or miscellaneous information for your business goals that didn’t have a place in the earlier sections.

Consider including:

• The resumes or educational and professional backgrounds of you, the owner, and your core staff
• Medical or non-medical licensing, or the licenses you plan to secure
• Any legal permits your business needs or the ones you plan to secure
• Bank statements, loans, and personal or professional credit history
• Real estate information about your business’ headquarters, if applicable

Make local connections through Nextdoor

As more Americans age, local caregivers are increasingly integral to the health of their communities. An effective home care business plan should tell this compelling narrative, sharing why there’s a need for your services and what you’ll do to fulfill them in your area. 

If you’re just building your local home care business, start close to home with a Nextdoor Business Page. Signing up is free, takes just a few minutes, and will help you spread the word, turning your neighbors into your first clients. 

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Start an Elderly Home Care Business: Requirements & More

By: Amber Dixon

Last Updated: June 4, 2024

The demand for medical and personal care is growing year after year. Learn how to start an elderly home care business to cater to that growth today!

There’s an increasing need for medical and personal care every year.

This is because of aging baby boomers (and other older adults) as well as a long life expectancy.

These factors present an excellent opportunity for anyone looking to enter the healthcare industry — particularly the home health care sector.

If this is something that appeals to you, we’ll tell you all about how to start your own home health care business.

What Is a Home Health Care Business?

A home health care business, also known as a home health care agency, hires home care providers to give in-home care to the elderly. 

These providers can range from medical professionals to non-skilled providers.

This kind of business can offer simple day-to-day assistance .

It can also be a medical service, which is especially great for seniors recently discharged from the hospital. But it’s also good if their health simply needs closer monitoring.

Overall, this kind of business helps senior citizens age in peace .

The Services Home Health Care Businesses Can Offer to Senior Citizens

You can offer many different kinds of home health care services for fair pricing like:

• Personal care – This involves helping the elderly with daily living activities . Professional caregivers can help prepare meals, bathe, or dress their clients. It can also be limited assistance, such as giving medication reminders.
• Health care – Trained professionals (like certified nursing assistants and occupational therapists) will provide at-home services like therapy or other checkups.
• Transportation – The elderly might have trouble driving themselves, or they have difficulty with public transit. You can offer them transportation services , such as going back and forth to doctors’ appointments.
• Household maintenance – You can help seniors stay on top of household chores — like gardening, doing laundry, and grocery shopping. Household maintenance can also involve financial and health care management.
• Home modifications – Mobility tends to become harder the older we get. As such, you can offer home modification services to help the elderly move around their house safer. For instance, you can suggest adding grab bars or anti-slip mats in the shower.
• Day programs – Day programs are mostly social in nature. This keeps seniors cognitively engaged by letting them interact with other senior citizens or caregivers. You can also add activities like playing cards and board games to these day programs.
• 24-hour home health care – Two caregivers will work 12-hour shifts to ensure that a senior is safe and has all their basic needs met around the clock.

Home Care Business Requirements

A home healthcare agency license certification is the first thing you’ll need before you can run your business.

However, the processes and additional requirements differ per state . But in general, you’ll need to:

• Take a specific training course
• Get certified for CPR/AED

For some states, like Alabama and Arkansas, you don’t need anything else. But some states require more caregiver training hours and licensing.

In Connecticut, for instance, you’ll also need personal care licensing and an 8-hour course recommended by the Professional Association of Caregivers.

You can check the exact licensing and training requirements of your state here .

How to Start a Home Care Business for the Elderly in 9 Steps

Here are the steps that will lead to building a successful home healthcare agency:

Step 1: Start Drafting a Formal Business Plan

You don’t need to write down your whole business plan in one sitting.

But the most important things you need to figure out first at this point are:

• Business name – The name will be the first thing people see (and should remember) about your company. So try to make it catchy while making it obviously connected to your business.
• Company description – This part sums up what your home healthcare agency does. It also shows what makes your company unique . Some things to include are the company’s goals, target customers, and mission & vision statement.
• Business ownership structure – This will determine many things — from how much tax you pay to any personal obligations you might assume.

Step 2: Get Your Employer ID Number

As the name suggests, the employer identification number (EIN) is used to identify business entities operating in the U.S.

You can get this nine-digit number from the Internal Revenue Service (IRS).

The EIN is also known as:

• Federal Employer Identification Number (FEIN)
• Federal Tax Identification Number

Step 3: Register With Your State

To formalize your business entity , you should register with the Secretary of State.

Your location and business structure determine how you should register your business.

Normally, this can be as quick as filing your company name with the local and state governments. This is especially the case with a small business or sole proprietorship.

But for an LLC, corporation, or partnership, you’ll need other things:

• Registered agent – This person will hold official papers and other legal documents sent to your company. Agency owners can choose to be their own agent .
• Certificate of Authority – If your home health care agency expands to other states, you’ll need to file for this certificate in that state. Some states may also require a Certificate of Good Standing from where your business originated.
• State documents and fees – The total cost for registering a business is usually less than $300. But it still depends on the state and structure of your company.

Once you’ve registered your agency, you can now open a business checking account and credit card account.

Step 4: Make a Solid Financial Plan

This is another crucial part of your business plan. After all, it’s what will keep your business operations going .

Things to include here are:

• Cash flow forecast
• Balance sheet snapshot
• Break-even point analysis

A balance sheet snapshot is especially important here since it shows the company’s financial position at a certain point in time.

You can quickly determine if your assets are equal to your liabilities and any shareholders’ equities.

Related to having a financial plan is getting good funding . Opening a business bank account makes it easier to track and manage your finances.

There are many ways you can fund your business:

• Traditional bank loans
• Angel investors
• Venture capital firms
• Government grants and subsidies

Failing to secure funding means your working capital can be in danger . That can make it difficult for your now-small business to take off and expand.

Step 5: Have Adequate Business Insurance

Business insurance will cover any costs connected to property damage and liability claims.

Not having insurance means a business owner will pay out-of-pocket for any damages or legal claims against their company.

The kinds of insurance you should consider are:

• Professional liability insurance – This is also known as the “errors and omissions” insurance. It will protect your agency from claims of incompetence and malpractice. This would make professional liability insurance the most important insurance to have.
• General liability insurance – This will protect you against claims that involve bodily and property damage (concerning third parties) due to your service. General liability insurance can also cover medical payments for injuries that a non-employee sustains on your premises.
• Cybersecurity insurance – A first-party coverage will answer for your company’s financial losses following a data breach or cyber event. Meanwhile, third-party coverage will protect you against claims made by others affected by the event. For instance, that can cover lawsuit expenses or HIPAA penalties due to a client’s accidentally-exposed Personal Identifiable Information (PII).

Step 6: Create a Sales and Marketing Plan

This is another essential part of your business plan. If you’re not sure you can make (and execute) a good marketing plan alone, you can enlist the help of a marketing agency.

The market segments or target audience of your marketing plan should include:

• The baby boomers and other older adults themselves
• Their adult children
• Relatives of the seniors

Build a Website

Having a website is a quick way to be visible online.

You can build just a basic website at first to tell the world that your company exists. Make sure it’s easy to read and fits any device screen.

Put your agency’s name and basic information out there. This can include your company description, mission, and vision to give potential clients a good idea of your home health care agency.

You can always come back later on to improve how your website looks.

Try to create a blog on your site too.

You can also eventually publish reviews to give others social proof that you’re running a trustworthy agency.

Be on Social Media

Social media is another great way to establish your online presence.

You can share the articles on your blog or create bite-sized content that your target audience can interact with.

One way to run ads is through Google Ads . You’ll need to bid on keywords, but if you win, you get immediate visibility for that keyword.

For instance, your business can show at the top of the page if someone searches “home health care agency in [your location].”

You can also run ads in local newspapers, TV, and radio stations.

You can get clients through a referral system — and this is especially helpful if you’re just starting out.

Connect with healthcare facilities and professionals such as:

• Long-term care facilities
• Hospital discharge social workers
• Rehab outpatient centers
• Senior centers
• Local physicians

Ask them if they can refer patients to your home health care business.

You can also ask if you can leave leaflets or other advertising materials in their offices.

If your first wave of clients is pleased , they can refer other people who need your service.

Step 7: Write Your Company’s Policies and Procedures

Policies and procedures will ensure smooth office operations . They also help you assess risk and perform compliance-related work.

Some things to cover in your policies and procedures are:

• Hiring practices
• Orientation and training
• Employee and payroll records
• New client admissions
• Client billing
• Client rights and responsibilities

Step 8: Hire Great Founding Staff

The home healthcare business is all about creating personalized care services. As such, you should find staff that perfectly represents your company’s vision.

The most commonly-employed healthcare professionals are certified nursing assistants and home health aides .

You can also enlist the help of other medical professionals like doctors, therapists, and medical social workers.

Together with hiring, you should also develop a good retention plan to keep your employees motivated to stay with you.

Step 9: Meet Compliance Requirements

When your new business eventually gets up and running, you should still continuously meet compliance requirements.

Part of this means your employees should undergo annual education in topics such as cultural diversity and emergency/disaster training.

For an idea of what to audit in your home health care agency, take a look at this checklist .

But remember that the checklist will NOT guarantee that you’ll get a successful accreditation decision. It’s only to give you a gist of some laws and regulations you should follow.

To ensure your healthcare agency is on the right path, check what your local laws require.

Why Should You Start a Home Healthcare Business?

Home health care agencies are big in the healthcare market. In fact, they actually make up the fastest-growing healthcare industries.

In 2019 alone, around 1.4 million people worked in the home healthcare industry.

This demand is pushed by aging baby boomers — which comprise around 25% of the U.S. population.

A longer life expectancy and record low birth rates also contribute to an aging population.

In-home care service is also a more attractive option to people compared to assisted living facilities. After all, it allows them to maintain some independence or age in place.

Already, 12 million people have been receiving in-home care compared to living in other care facilities like nursing homes since the COVID-19 pandemic hit.

How Profitable Is a Home Care Business?

A home health care agency is very profitable.

How much you earn in a year will depend on:

• How much you charge for your services 
• What services you offer
• How many clients you have 

But the national average hourly cost for at-home non- medical care is $27 per client.

Your expenses might go up if you expand the business, but that also means more profit — for you and all your employees.

Frequently Asked Questions

We’ll cover a few related questions to home health care businesses:

What’s the Difference Between a Caregiver and Home Care?

Home care is the service that caregivers give.

Home care services are all about making sure the elderly are safe and comfortable in their own homes.

Professional caregivers can prepare meals, help seniors stay on top of bills, and offer transportation, among other things.

What’s the Difference Between a Medical and Non-Medical Home Care Business?

Medical home care and a home health business are the same. This business is more concerned about the elderly’s health.

Services here are provided by medical professionals and can range from monitoring blood pressure to checking the senior’s mental state.

Meanwhile, non-medical home care can simply be called home care .

Services are provided by non-medical professionals and are centered around day-to-day assistance. These include anything from helping the senior get changed to scheduling doctors’ appointments.

Together, medical and non-medical home care can collectively be called home health care.

How Much Does It Cost to Start a Private Home Care Business?

Starting a home health care agency can cost anywhere from $40,000 to $350,000 , depending on your services and certifications.

When planning your startup costs, you should take into consideration the following:

• Accreditation and certification – Accreditation and certification fees differ per state and ownership structure. Accreditation, in particular, can be tedious because of the criteria you need to hit. These include services, types of patients, and operations.
• Equipment – This can be more expensive for a home health care agency since you’ll need to invest in specialized medical equipment too. Aside from equipment, it would be best if you also have good software to streamline processes. You may need technical support for this part too.
• Commercial office space – You should also find a good place as your base of operations. Other business owners might try to use their homes as an office, but this might not be the wisest decision — especially if you need to store equipment.

If you’re a first-time business owner, you’ll be relieved that non-medical home care agencies are relatively inexpensive to start.

You can expect to spend $40,000 to $80,000 depending on how big your operation is and what services you’re offering.

For a medical home care agency, not being Medicare-certified means you might spend $60,000 to $100,000.

But if you are Medicare-certified (which is more common), you can shell out $150,000 to $350,000.

Do I Need Medicare and Medicaid Certifications?

It’s NOT required, but most agency owners prefer to get these certifications.

Getting certified basically means you can bill Medicare and Medicaid for reimbursements . Having these certifications also assures your clients that your business meets the minimum health and safety standards.

However, the process can take as much as a year .

The Center for Medicare & Medicaid Services has an enrollment guide you can follow. Some states also require the business owner to pass a jurisprudence exam.

The home health care business is a profitable industry that continues to grow as life expectancy increases.

Starting your own agency might sound overwhelming, but having a good business plan helps you solidify your vision and put you on the right path.

Licensing and accreditation might take a long time too. However, when you have them, potential clients can see your company as a trustworthy one that passes standards.

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Table of contents, a comprehensive guide to starting a senior home care business.

• 3 April, 2024

Starting a Home Help Business

As the demand for home help services continues to grow, starting a senior home care business can be a fulfilling and profitable venture. Before diving into this industry, it’s important to understand the increasing need for home help services and the essential steps involved in creating a comprehensive home care business plan.

The Growing Demand for Home Help Services

The worldwide home healthcare market was valued at $299 billion in 2020, and this value is expected to continue growing due to the aging global population ( Nurse Next Door ). Senior citizens often prefer to receive care in the comfort of their own homes, where they can maintain their independence and familiar surroundings. This growing demand for home help services presents an opportunity for individuals interested in providing compassionate care to older adults.

Creating a Home Care Business Plan

To establish a successful senior home care business, creating a comprehensive business plan is crucial. A well-structured business plan serves as a roadmap for your venture, helping you secure financing and demonstrate profitability and sustainability. It is an essential tool for attracting investors, partners, and clients.

A home care business plan should include the following key components:

Executive Summary : This section provides an overview of your business, highlighting its mission, vision, and goals.

Company Description : Describe your home care business in detail, including the services you plan to offer and the target population you aim to serve.

Industry Analysis : Conduct market research to understand the home care industry, identify your competition, and evaluate market trends and opportunities.

Management and Organization Structure : Outline the organizational structure of your business, including the roles and responsibilities of key team members.

Service Offerings : Clearly define the services your home help business will provide, such as personal care assistance, companionship, medication management, and more.

Marketing Plan : Develop a marketing strategy to effectively reach your target audience and differentiate your business from competitors. Stay informed about market trends and regularly adapt your marketing efforts.

Financial Projections : Include detailed financial projections, such as revenue forecasts, operating expenses, and expected profit margins, to demonstrate the financial viability of your home care business.

Supporting Documents : Attach any supporting documents, licenses, certifications, or permits required to operate a home care business in your area.

By thoroughly addressing these components, your home care business plan will serve as a comprehensive guide, enabling you to make informed decisions and navigate the challenges of the industry. Remember to regularly review and adapt your business plan as your home care business evolves.

In the next sections of this guide, we will delve into the specific requirements for starting a home help business in Ohio, the challenges faced in the industry, effective marketing strategies, the cost of home help services, and solutions for addressing the staffing crisis. Stay tuned to gain a deeper understanding of the senior home care industry and how to build a successful home help business.

Essential Components of a Home Care Business Plan

When starting a senior home care business , it’s crucial to have a well-structured business plan in place. A comprehensive business plan serves as a roadmap for success and is essential for securing financing and demonstrating profitability and sustainability ( Nurse Next Door ). Here are the essential components that should be included in a home care business plan:

Executive Summary

The executive summary provides an overview of your home care business plan. It should concisely summarize the key points of your plan, including the mission and vision of your business, target market, and unique value proposition. The executive summary is typically written last but should appear at the beginning of your business plan.

Company Description

The company description section provides detailed information about your senior home care business. It should include essential details such as the legal structure of your business, your business name, location, and the services you plan to offer. This section should also highlight the unique qualities and capabilities that set your business apart from competitors.

Industry Analysis

Conducting a thorough industry analysis is critical to understanding the market in which your home care business will operate. This section should include information on the current state of the home help services industry, market trends, and growth projections. Be sure to cite relevant statistics, such as the compound annual growth rate for home health care in the U.S. ( Nextdoor Business Blog ) and the worldwide home healthcare market value ( Nurse Next Door ), to support your analysis.

Management and Organization Structure

In this section, outline the management structure of your home care business. Provide information about key personnel, their roles, and their qualifications. Highlight their experience in the home help industry and any certifications or licenses they hold. Demonstrating a strong and capable management team will instill confidence in potential investors and stakeholders.

Service Offerings

Detail the specific services your senior home care business will provide. This can include assistance with activities of daily living, medication management, companionship, and more. Clearly define the scope of services offered, as well as any specialized or additional services that set your business apart from competitors. Consider including a table to showcase the range of services and packages available.

Marketing Plan

Developing an effective marketing plan is essential for attracting clients to your home care business. In this section, outline your target audience, marketing strategies, and tactics you will employ to reach and engage potential clients. Discuss your plans for online and offline marketing, including leveraging digital marketing channels and establishing partnerships with healthcare professionals and community organizations.

Financial Projections

The financial projections section provides an overview of the anticipated financial performance of your senior home care business. Include projected revenue, expenses, and profit margins for the first few years of operation. This section should also outline the sources of funding for your business and any financial assumptions or considerations. If possible, include a table or chart to present the financial projections clearly.

Supporting Documents

The supporting documents section should include any additional materials that support your home care business plan. This can include licenses, permits, legal documents, resumes of key personnel, market research data, and any other relevant documentation. These supporting documents provide credibility and demonstrate that you have thoroughly planned and prepared for your home care business.

By including these essential components in your home care business plan, you will have a comprehensive and well-structured document that serves as a guide for launching and growing your senior home care business. Remember to regularly review and update your business plan to adapt to changing market conditions and ensure the continued success of your venture.

Requirements for Starting a Home Help Business in Ohio

If you’re considering starting a senior home care business in Ohio, there are several requirements that must be fulfilled. These requirements ensure that your business operates legally and meets the necessary standards to provide quality care to senior citizens. Let’s explore the key requirements for starting a home help business in Ohio.

Registering a Business Name

When starting a home care business in Ohio, it is mandatory to register a distinct business name that is not already registered in the state. The availability of the chosen name can be checked using the Ohio Secretary of State’s online name search tool. This step ensures that your business has a unique identity in the market and complies with legal requirements ( ShiftCare ).

Care Certification and Training

While caregivers in Ohio are not required to have care certification for a home care license, it is highly recommended to undergo training to provide high-quality care, especially for home health businesses that provide direct medical care. Proper training equips caregivers with the necessary skills and knowledge to effectively meet the needs of senior clients. Training programs can cover topics such as personal care, medication management, first aid, and specialized care for conditions like dementia or Alzheimer’s disease ( ShiftCare ).

Obtaining a Home Health Agency License

Ohio home care businesses must obtain a home health agency license, even if they provide non-medical care. The license ensures that your business meets the requirements set by the Ohio Department of Health. The application for a home health agency license can be completed online or by mail, and an application fee of $250 must be paid. It’s important to note that the license must be renewed every three years to maintain compliance with state regulations ( ShiftCare ).

Vendor’s License and Additional Requirements

In addition to the home health agency license, home care agencies in Ohio will need to obtain a vendor’s license. This license can be obtained through the Ohio Business Gateway for a cost of $25. It is essential to fulfill this requirement to legally operate your home help business. Depending on the location of your business, additional licenses or permits may also be required. It’s crucial to research and comply with any local regulations that may apply to your specific area of operation ( ShiftCare ).

By fulfilling these requirements, you can ensure that your senior home care business in Ohio is properly registered, licensed, and prepared to provide exceptional care to senior citizens. It’s important to consult with the relevant authorities and seek legal advice to ensure compliance with all applicable regulations. Starting a home help business can be a rewarding venture that makes a positive impact on the lives of seniors in your community.

Challenges and Solutions in the Home Help Industry

Starting a senior home care business comes with its own set of challenges. Understanding and addressing these challenges is crucial for the success of the business. In the home help industry, some common challenges include helping the elderly stay at home, a shortage of qualified in-home care workers, a lack of industry and management experience, and ensuring consistent caregivers and improved communication.

Challenges in Helping the Elderly Stay at Home

One of the main challenges in the home help industry is assisting the elderly in staying at home. While many seniors prefer to age in the comfort of their own homes, there are various factors that can make this challenging. These factors may include health conditions, mobility issues, and the need for specialized care. It is essential for home care businesses to develop comprehensive care plans tailored to individual needs, ensuring that seniors receive the necessary support to remain at home for as long as possible. Effective coordination with healthcare professionals and community resources can help address these challenges and provide holistic care to seniors.

Shortage of Qualified In-Home Care Workers

The home help industry is facing a shortage of qualified in-home care workers ( Source ). This shortage can be attributed to various factors, including an aging population, competitive job markets, and the demanding nature of caregiving roles. To address this challenge, home care businesses can focus on recruitment and retention strategies. Offering competitive wages, providing ongoing training and development opportunities, and fostering a supportive work environment can attract and retain qualified caregivers. Collaboration with educational institutions and community organizations can also help in promoting caregiving as a rewarding career option.

Lack of Industry and Management Experience

Many individuals starting a senior home care business may lack experience in the healthcare and caregiving industry, as well as in managing a care staff ( Source ). This lack of experience can pose challenges in providing high-quality care and managing the operations effectively. To overcome this challenge, it is crucial to invest in education and training. Home care business owners should seek opportunities to enhance their knowledge of the industry, caregiving best practices, and management skills. Networking with experienced professionals and seeking mentorship can also provide valuable guidance and support.

Ensuring Consistent Caregivers and Improved Communication

Consistency in caregiving is vital for the well-being and satisfaction of seniors. However, in-home care agencies often struggle to provide consistent caregivers to clients ( Source ). This can be due to factors like caregiver availability, scheduling conflicts, and turnover. To address this challenge, home care businesses can implement strategies such as having a lead caregiver position. A lead caregiver can provide continuity of care and build strong relationships with clients, leading to increased satisfaction. Additionally, improving communication between assessment staff and staff scheduling caregivers can ensure better matching of caregiver skills to senior care needs, resulting in improved quality of care.

By understanding and proactively addressing these challenges, home care businesses can provide high-quality services to seniors and contribute to their overall well-being. Implementing effective solutions, such as recruitment and retention strategies, ongoing education and training, and improved communication systems, can help overcome these challenges and create a successful senior home care business.

Marketing Strategies for a Home Help Business

When starting a senior home care business, it’s essential to develop effective marketing strategies to reach your target audience and establish a strong presence in the market. By understanding the target audience, staying informed about market trends, creating a strong brand image, and leveraging digital marketing, you can effectively promote your services and attract potential clients.

Understanding the Target Audience

To develop an effective marketing strategy, it’s crucial to understand the demographics and needs of your target audience. In the case of a home help business, the primary users of home care services are the elderly, individuals with disabilities, and those recovering from illnesses ( Nurse Next Door ). By gaining insights into their specific needs, preferences, and challenges, you can tailor your marketing messages and service offerings to better meet their requirements.

Staying Informed About Market Trends

The home care industry is expected to continue growing as the aging population increases. Staying informed about the latest market trends and forecasting can help you stay ahead of the competition and make informed decisions about your marketing strategies. By understanding the evolving needs and preferences of the target audience, you can adapt your services and marketing efforts to effectively meet their changing demands ( Nurse Next Door ).

Creating a Strong Brand Image

Establishing a strong brand image is crucial for differentiating your home care business from competitors and building a reputable brand. This includes creating a unique logo, website, and marketing materials that reflect your business values and resonate with your target audience. By consistently delivering high-quality services and building positive relationships with clients, you can enhance your brand reputation and establish trust within the community.

Leveraging Digital Marketing

Digital marketing plays a vital role in reaching a large audience and promoting your home help business effectively. Utilize strategies such as social media marketing, search engine optimization (SEO), and email marketing to connect with potential clients. Engage with your target audience through informative and relevant content, share success stories, and provide valuable tips and resources. By leveraging digital platforms, you can increase brand visibility, generate leads, and build strong relationships with clients.

Remember to utilize internal links within your website to guide visitors to relevant pages, such as information about your home help services, setting up a home help business, and home help business ideas. This helps improve the user experience and encourages visitors to explore more of your website.

By understanding your target audience, staying informed about market trends, creating a strong brand image, and leveraging digital marketing, you can effectively promote your senior home care business and connect with those in need of your services. With a comprehensive marketing strategy in place, you can position your business as a trusted provider of quality home help services.

Understanding the Cost of Home Help Services

When considering starting a senior home care business, it’s essential to understand the cost of home help services. The cost can vary depending on various factors, including the type of services provided, the location, and the specific needs of the clients. In this section, we will explore the factors affecting the cost of home care, the average cost of in-home care in the US, and the Medicare coverage for home care services.

Factors Affecting the Cost of Home Care

Several factors can influence the cost of home care services. These factors include:

Type of Services : The specific services provided, such as personal care assistance, medical care, or companionship, can affect the overall cost. Services that require specialized skills or medical training might be priced differently than general assistance.

Level of Care : The level of care required by the clients can impact the cost. Some individuals may require around-the-clock care, while others may only need a few hours of assistance each day.

Geographical Location : The cost of home care services can vary depending on the geographical location. Factors such as the cost of living and the availability of home care providers in the area can influence the pricing.

Duration of Care : The duration of care needed by the clients, whether it’s short-term or long-term, can affect the overall cost. Longer-term care arrangements may offer discounted rates compared to short-term or temporary care.

Caregiver Qualifications : The qualifications and experience of the caregivers providing the services can impact the cost. Caregivers with specialized training or certifications may charge higher rates for their expertise.

Additional Services : Additional services such as transportation, meal preparation, or medication management may incur additional costs.

By considering these factors, home care providers can determine the appropriate pricing for their services.

Average Cost of In-Home Care in the US

According to data from Paying for Senior Care , the average cost of in-home care in the United States in 2024 is $5,417 per month. Home health care, which includes nursing services, is slightly higher at an average of $5,625 per month. It’s important to note that these costs can vary depending on the location. For example, in Louisiana, in-home care costs an average of $3,959 per month, while in Washington, the price for the same services averages $7,154 per month.

To get a more accurate estimate of the costs in your specific area, it’s recommended to conduct thorough market research and analyze the local competition.

Medicare Coverage for Home Care Services

It’s crucial to understand that Medicare does not cover standard home care, including companion care services and personal care assistance. Medicare only covers home health care services that are prescribed by a doctor and deemed necessary as part of a care plan. These services may include skilled nursing care, physical therapy, or occupational therapy. Medicare coverage for home care services is limited and typically requires meeting specific eligibility criteria.

Home care providers should be aware of Medicare’s coverage limitations and ensure that clients are informed about the costs they may need to bear for non-medical home care services.

Understanding the cost of home help services is essential when starting a senior home care business. By considering the factors affecting the cost, researching the average costs in the area, and understanding Medicare coverage limitations, home care providers can develop pricing strategies that ensure the sustainability and profitability of their business.

Addressing the Staffing Crisis in the Home Help Industry

The home help industry is currently facing a staffing crisis, with a shortage of trained employees to meet the growing demand for senior care services. This section explores the need for trained employees, government subsidies and Medicare/Medicaid reform, collaboration and integration in the senior care industry, and potential solutions for tackling the staffing crisis.

The Need for Trained Employees

Approximately 70% of adults over the age of 65 will require some form of long-term care in their lifetimes, underscoring the critical need for trained employees in the senior care sector ( McKnight’s Senior Living ). However, enrollment in nursing and related healthcare fields has been declining due to factors such as draining work and compensation not keeping up with other professional fields ( McKnight’s Senior Living ).

To address the staffing crisis, it is essential to attract and retain qualified individuals who are passionate about providing high-quality care to seniors. This can be achieved through offering better benefits, providing more flexibility in work schedules, implementing innovative educational programs, providing advanced training opportunities, and emphasizing positive reinforcement and recognition for caregivers.

Government Subsidies and Medicare/Medicaid Reform

A key issue in the senior care industry is the need for government subsidies and reform in Medicare and Medicaid. Adequate government support and funding can help alleviate the financial burdens associated with senior care, ensuring that individuals have access to affordable and quality care ( McKnight’s Senior Living ). This reform should aim to provide comprehensive coverage for home help services, including personal care, companionship, and assistance with daily activities.

By reevaluating and revamping Medicare and Medicaid, more individuals can receive the necessary care and financial relief they need, while also improving the overall viability of the home help industry.

Collaboration and Integration in the Senior Care Industry

Addressing the staffing crisis requires collaboration and integration within the senior care industry. By working together, stakeholders can identify existing needs, set future goals, and develop long-term solutions. A seamless care system that is accessible, effective, efficient, and affordable for all citizens can be achieved through collaboration and integration ( McKnight’s Senior Living ).

Collaboration can involve partnerships between home care agencies, healthcare providers, community organizations, and government agencies. By sharing resources, expertise, and best practices, the industry can create a more sustainable and supportive environment for both caregivers and seniors.

Solutions for Tackling the Staffing Crisis

To address the staffing crisis in the home help industry, a combination of strategies should be considered. These may include:

• Offering competitive wages and benefits to attract and retain qualified caregivers.
• Providing flexible work schedules to accommodate the needs of caregivers.
• Implementing innovative educational programs and advanced training opportunities to enhance caregiver skills and expertise.
• Emphasizing positive reinforcement and recognition for caregivers to boost morale and job satisfaction.
• Advocating for government subsidies and Medicare/Medicaid reform to ensure affordable access to home help services.
• Promoting collaboration and integration within the senior care industry to develop comprehensive solutions.

By adopting these solutions and working together, the home help industry can overcome the staffing crisis and continue to provide essential care and support to seniors in need.

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Home Health Care Business Plan

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CaringCompanion

Value proposition.

CaringCompanion provides high-quality, personalized home health care services to seniors and individuals with disabilities, letting them maintain independence and comfort within their own homes.

The Problem

Demand for reliable, high-quality and affordable home health care services is growing. Many seniors and individuals with disabilities face challenges in finding home health care providers that can effectively address their specific needs while also offering the necessary support to ensure a high quality of life at home.

The Solution

CaringCompanion offers a comprehensive and holistic approach to home health care by connecting clients with experienced, certified caregivers who possess the skills and expertise to provide personalized care and support. Our services include personalized care plans that ensure each client receives the appropriate level of assistance.

Target Market

The primary market for CaringCompanion is seniors and individuals with disabilities who want to maintain their independence while receiving assistance with daily living activities in the comfort of their own homes. This may include individuals recovering from surgery, facing chronic health conditions or dealing with cognitive impairments such as Alzheimer’s or dementia.

Competitors & Differentiation

Current alternatives.

• Traditional home health care agencies
• Independent caregivers
• Assisted living facilities and nursing homes

CaringCompanion stands out by offering personalized care plans and a thorough caregiver vetting process. Our customized care plans allow us to address each client’s specific needs and preferences, and our dedication to ongoing caregiver training and support ensures that our team stays up-to-date with the latest best practices while maintaining open communication with patients and their families.

Funding Needs

CaringCompanion requires $250,000 in initial funding to cover operating expenses, caregiver salaries, marketing efforts, insurance, and other startup costs.

Sales Channels

• Official CaringCompanion website
• Social media platforms
• Local senior centers and community organizations
• Referrals from existing clients

Marketing Activities

• Content marketing through blog posts and articles
• Social media campaigns
• Local advertising and sponsorships
• Networking with healthcare professionals and senior organizations

Financial Projections

2023: $180,000

2024: $250,000

2025: $325,000

Expenses/Costs

2023: $130,000

2024: $175,000

2025: $210,000

2023: $50,000

2024: $75,000

2025: $115,000

• Secure initial funding – June 1, 2023
• Launch official CaringCompanion website – July 1, 2023
• Hire and train first team of caregivers – August 1, 2023
• Acquire first 10 clients – September 30, 2023
• Establish partnerships with local healthcare providers – December 31, 2023
• Reach 50 active clients – June 30, 2024
• Expand service offerings and geographic reach – January 1, 2025

Team and Key Roles

Founder & ceo.

Responsible for overall business operations, client management, and strategic growth initiatives.

Care Coordinator

Oversees client intake, caregiver assignments, and care plan development.

Caregiver Team

Provides in-home care services, ensuring clients’ needs are met with compassion and professionalism.

Marketing Manager

Develops and executes marketing strategies to attract new clients and enhance brand visibility.

Partnerships & Resources

Local healthcare providers.

Collaborate with physicians, therapists, and other healthcare professionals to ensure coordinated care and support for our clients.

Senior Organizations

Partner with local senior centers, community organizations, and advocacy groups to provide resources, educational materials, and support to seniors and their families.

Insurance Companies 

Establish relationships with insurance providers to offer our services as a covered benefit, making home health care more accessible and affordable for clients.

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Home Health Care Business Plan Template

Written by Dave Lavinsky

Home Health Care Business Plan

You’ve come to the right place to create your Home Health Care business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their home health care businesses.

Home Care Business Plan Example

Below is a template to help you create each section of your home health agency business plan.

Executive Summary

Business overview.

St. Helen’s Home Care is a new home healthcare business that serves the aging population of Austin, Texas. As individuals age, they are more susceptible to diseases and other conditions and need extra help to receive health care. However, many individuals wish to receive care in the comfort of their homes instead of going to a nursing home or hospital. St. Helen’s will provide this population with the care they need without them needing to travel. Our nursing services include physical therapy, skilled nursing care and other healthcare services that can be conducted in the home. We also provide warmth, compassion, and companionship to create lasting relationships with our clients.

St. Helen’s Home Care is run by Helen Parker, who has been a nurse for twenty years. She has specialized in working with aging populations and has extensive knowledge of the common conditions and needs of this age group. Her experience and connections have helped her find other medical professionals who want to join our company. Furthermore, she was able to establish an initial client base from the list of patients she has been helping for years.

Services Offered

St. Helen’s Home Care offers a variety of home health care services that serve the aging population of Austin, Texas. These services include but are not limited to:

• Physical therapy
• Occupational therapy
• Speech-language therapy
• Skilled Nursing Services
• Personal care and housekeeping

Customer Focus

St. Helen’s Home Care will serve the aging population of Austin, Texas, primarily residents over the age of 65. This population is susceptible to many conditions that make daily living difficult such as Alzheimer’s, dementia, arthritis, and diabetes. This population needs more health care than other age groups, but not all services require a visit to the hospital or doctor’s office. St. Helen’s will provide any medical service that can easily be conducted in a home setting.

Management Team

St. Helen’s Home Care is owned and operated by Helen Parker, a local nurse who has worked at local hospitals for over the past twenty years. She has worked with hundreds of elderly patients and their families and has helped them find adequate and affordable home health care upon being released from the hospital. Helen Parker has realized there is a lack of quality and affordable home healthcare agencies in Austin. She aims to provide the best in-home health care services while also being affordable for the patient and their families.

Aside from the medical professionals she will have on staff, Helen has also employed an Administrative Assistant, Accountant, and Marketing Specialist to help her operate the company.

Success Factors

St. Helen’s Home Care will be able to achieve success by offering the following competitive advantages:

• Compassionate Staff: Helen’s will employ a compassionate and friendly staff of nurses, therapists, aides, and social workers who are highly knowledgeable and experienced in their field.
• Quality Care: Helen’s will provide expert nursing services so that the patients are at the highest comfort level.
• Pricing: Helen’s pricing will be more affordable than other home health care agencies. They will also work on payment arrangements with the patient and their family so that the patient won’t have to sacrifice any type of care because the cost is too high. The company is also working to partner with local and national insurance companies so that our patients can have their care partially or fully covered by their insurance plans.

Financial Highlights

St. Helen’s Home Care is seeking $340,000 in funding to launch the home healthcare business. The capital will be used for funding equipment and supplies, staffing, marketing expenses, and working capital.

The breakdown of the funding may be seen below:

• Equipment and supplies (such as computers and medical equipment): $150,000
• Marketing costs: $50,000
• Staffing costs: $60,000
• Working capital (to include three months of overhead expenditures): $80,000

The following graph outlines the pro forma financial projections for St. Helens’ Home Care over the next five years:

Company Overview

Who is St. Helen’s Home Care?

St. Helen’s Home Care is a new home healthcare business that serves the aging population of Austin, Texas. As individuals age, they are more susceptible to diseases and other conditions and need extra help to receive health care. However, many individuals wish to receive care in the comfort of their homes instead of going to a nursing home or hospital. St. Helen’s will provide this population with the care they need without them needing to travel. Our services include physical therapy, nursing, and other healthcare services that can be conducted in the home. We also provide warmth, compassion, and companionship to create lasting relationships with our clients.

St. Helen’s Home Care History

Helen Parker has worked with thousands of elderly patients during her career as a nurse. She often found that many people did not need to travel to a doctor’s office or hospital for their care. Instead, these patients often enjoyed a higher quality of life when they received care from their homes. This revelation inspired her to start a business where she and other professionals could provide care to local elderly patients in the comfort of their homes. After conducting the research needed to establish the company, Helen incorporated St. Helen’s Home Care as an S-corporation on May 15th, 2022.

Since incorporation, St. Helen’s has achieved the following milestones:

• Found an office location and signed a Letter of Intent to lease it
• Developed the logo and website for the company
• Finalized list of services the company will be able to provide
• Determined the office equipment and inventory requirements
• Created an initial client base from Helen’s pre-existing patient list
• Started creating partnerships with local and national medical insurance companies
• Began recruiting key employees, including medical and administrative staff

St. Helen’s Home Care Services

Industry Analysis

According to Grand View Research, the global home health care industry was valued at $336 billion USD in 2021. It is also expected to grow at a compound annual growth rate of 7.93% from 2022 to 2030 and reach a value of $666.9 billion USD by 2030. This shows that these services will be in great demand, which means it is a great time to start a home healthcare business.

This growth is primarily driven by a growing geriatric population. People are living longer than ever before, and therefore, they will need comfortable healthcare services for much longer. Furthermore, baby boomers comprise a large population and are now entering their retirement years. It is expected that this enormous population will have a significant need for healthcare (whether in the home or doctor’s office) and may create a strain on the current industry. However, this also means there is an enormous opportunity for healthcare businesses to be extremely profitable in the near future.

This is especially true for home healthcare services, which are increasing in demand. Most aging people would rather receive medical care at home than go to a nursing home or hospital. Therefore, there is an incredible demand for these particular services.

The only challenge affecting the industry is a lack of properly trained staff who can take on a healthcare career. However, this will only mean that home healthcare services will be even more valued. These industry trends will only help boost the popularity and success of St. Helen’s Home Care.

Customer Analysis

Demographic profile of target market.

St. Helen’s Home Care will primarily target the aging population of Austin, Texas. This includes anyone over the age of 65, especially those who live with diabetes, Alzheimer’s, arthritis, or other conditions that affect their quality of life.

The precise demographics of Austin, Texas, are:

Customer Segmentation

St. Helen’s will primarily target the following customer profiles:

• Aging individuals over the age of 65
• Individuals living with Alzheimer’s and dementia
• Elderly individuals with other health conditions

Competitive Analysis

Direct and indirect competitors.

St. Helen’s Home Care will face competition from other home health care agencies with similar business profiles. A description of each competitor company is below.

Travis County Home Health

Travis County Memorial Hospital’s Home Health & Hospice has provided home health services for over a decade. Their staff is composed of dedicated professionals who are committed to providing quality care in the comfort and convenience of their patients’ homes. Their home health aides can assist the patient with grooming and light chores around their home. Home health care will verify if home health aide services are covered by their insurance policy. They accept Medicare, Insurance/HMO/PPO, Medicaid, and Private Pay. The home health care team works closely with the physician to plan the care and monitor the patients’ progress. The nurse will contact the physician with any laboratory results, medication changes, or alterations in their health status.

Elara Caring

Elara Caring is one of the nation’s largest providers of home-based care, with a footprint in most regions of the United States. Elara Caring brings together three award-winning organizations – Great Lakes Caring, National Home Health Care, and Jordan Health Services, into one transformational company. They provide the highest-quality comprehensive care continuum of personal care, skilled home health, hospice care, and behavioral health. Their intimate understanding of their patients’ needs allows them to apply proprietary platforms to deliver proactive, customized care that improves quality of life and keeps patients in their homes.

Encompass Health

Encompass Health is one of the nation’s leading providers of home health services. They continually set the standard of homecare through their people, their approach, and their outcomes.

The patient experience is at the core of everything they do. That’s why they work collaboratively with the patient’s team of experts to craft a plan of care that meets their specific needs. Their skilled nurses, physical therapists, occupational therapists, speech-language pathologists, medical social workers, and home health aides use a coordinated, interprofessional approach to deliver compassionate, specialized care in the comfort of home. Whether recovering from a surgery, a recent hospital stay, or managing a disease or injury, Encompass Health’s services are designed to meet patients where they are.

Competitive Advantage

• Quality Care: Helen’s will provide expert services so that the patients are at the highest comfort level.
• Pricing: Helen’s will provide affordable home health care. They will also work on payment arrangements with the patient and their family so that the patient won’t have to sacrifice any type of care because the cost is too high. The company is also working to partner with local and national insurance companies so that our patients can have their care partially or fully covered by their insurance plans.

Marketing Plan

Brand & value proposition.

The St. Helen’s brand will focus on the company’s unique value proposition:

• Knowledgeable, friendly, compassionate staff of healthcare professionals.
• Quality level of service and care.
• Offering the best nursing, therapy, social worker, and home aide services at competitive prices.

Promotions Strategy

St Helen’s Home Care will target elderly residents living in the Austin, Texas area. The company’s promotions strategy to reach the most clientele include:

Local Hospitals

Helen Parker already has great relationships with the local hospitals. She will work to make sure the hospitals send referrals and highly recommend the company to its patients and their families upon releasing them from the hospital.

Website/SEO Marketing

St. Helen’s has a website that is well-organized and informative and lists all our available services. The website also lists the company’s contact information and information about the medical professionals who provide our services.  We will utilize SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Austin home health care” or “Austin health care,” St. Helen’s will be listed at the top of the search results.

St. Helen’s Home Care will have a billboard at a busy intersection where thousands of cars and pedestrians pass daily. The location of the billboard will be in an area of town where there are a lot of doctors’ offices, rehab facilities, and a hospital nearby.

Insurance Partnerships

St. Helens will partner with local and national insurance companies so that our patients can be partially or fully covered for the services we provide. We will ask the insurance companies to recommend our services to their customers and have our business listed on their websites.

St Helen’s pricing will be moderate so customers feel they receive great value when purchasing its services. Services will either be charged directly to the patient or to their insurance plan.

Operations Plan

The following will be the operations plan for St. Helen’s Home Care.

Operation Functions:

• Helen Parker will be the Chief Executive Officer of the company. She will be in charge of the business operations side of the business and provide home healthcare services until we have a full staff of medical professionals.
• Helen is assisted by her longtime colleague Mary Green. Mary will be the Administrative Assistant and help with all general administration tasks, including taking phone calls and scheduling appointments.
• Keith O’Reilly will serve as the Staff Accountant. He will provide all accounting, tax payments, and monthly financial reporting.
• Betty Lopez will work as the Marketing Specialist. She will run the website, social media, and other marketing efforts.
• Helen will hire a large team of medical professionals to serve our growing client base. So far, some of her former colleagues have agreed to work for her business.

Milestones:

St. Helen’s Home Care will have the following milestones completed in the next six months.

8/1/202X – Finalize lease for the office space.

8/15/202X – Finalize personnel and staff employment contracts.

9/1/202X – Begin refurbishment and furnishing of the office space.

9/15/202X – Begin networking at medical industry events.

9/22/202X – Begin marketing campaign to attract the first clients.

11/1/202X – St. Helen’s Home Care opens for business.

Financial Plan

Key revenue & costs.

The revenues for St. Helen’s Home Care will come from the fees it will charge the patients and their insurance for the provided health care services.

The major cost drivers for the company will be the staff payroll, marketing expenses, lease, and office equipment.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials as well as pay off the startup business loan.

• Number of clients per month: 100
• Annual lease: $50,000
• Overhead costs per year: $100,000

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Home Health Care Business Plan FAQs

What is a home health care business plan.

A home health care business plan is a plan to start and/or grow your home health care business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Home Health Care business plan using our Home Health Care Business Plan Template here .

What are the Main Types of Home Health Care businesses?

There are a number of different kinds of Home Health Care businesses , some examples include: Nursing care business, Physical home health care business, and Home health care aides.

How Do You Get Funding for Your Home Health Care Company?

Home Health Care businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Home Health Care Business?

Starting a home health care business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Home Health Care Business Plan - The first step in starting a business is to create a detailed home health care business plan that outlines all aspects of the venture. This should include market research on the home health care industry and potential target market size, information on the home health care services you will offer, marketing strategies, pricing detailed and your financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your home health care business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your home health care business is in compliance with local laws.

3. Register Your Home Health Care Business - Once you have chosen a legal structure, the next step is to register your home health care business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your home health care business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Home Health Care Equipment & Supplies - In order to start your home health care business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your home health care business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful home health care business:

• How to Start a Home Health Care Business

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Starting a home care business can be a lucrative opportunity for anyone with health care experience. Learn the seven steps you’ll need to take to get started.

Home care businesses provide a valuable service to the community, which is why the industry is expected to double in size over the next 15 years. But the job is demanding, and it’s essential to perform your due diligence before getting started.

What is a home care business?

Home care businesses offer home health and medical services to aging or sick individuals. It’s an umbrella term used to refer to multiple types of services.

A home care business could provide the following services:

• Companionship to seniors.
• Assisting clients with daily activities like housekeeping and cooking.
• Home therapy services, like physical and occupational therapy.
• Hospice care.

7 tips to starting a home care business

Find out what certifications you need.

Before starting a home care business, you must certify your business through the state and obtain a license. It’s also a good idea to check your local health department to find out if you need any additional licenses. This is not an overnight process and could take as long as a year to complete.

Decide what services you’ll offer

Home care businesses can cover a wide variety of services. You want to decide which type of services you will provide based on your experience and your staff.

If you’re not sure what service you want to offer, spend some time researching the top growing trends in the health care field. This can be an excellent way to match your skills with the current market demand.

As a home care worker, you cannot discuss health records with family or friends.

Identify your target market

Next, you’ll want to spend some time thinking about your target market. This is not necessarily the clients you’ll be serving, but the individuals who will be hiring you. For instance, if you offer hospice services, your target market is the adult children who will hire you to care for their parents.

Create a business plan

The best way to set yourself up for success is by coming up with a detailed business plan. A business plan will outline your target market, your financial plan and how you plan to market your business.

Having a business plan can make it easier to qualify for a small business loan. A loan can help you get your business off the ground faster and let you avoid having to dip into your savings.

[ Read more: How to Write a One-Page Business Plan in a Hurry ]

Make sure you understand HIPAA laws

HIPAA compliance can be one of the most challenging aspects of starting a home care business. HIPAA laws protect the patient's privacy and ensure that third parties can’t access their records without their consent.

As a home care worker, you cannot discuss health records with family or friends. This could frustrate some family members and friends and make it harder for you to do your job. Make sure you have a thorough understanding of HIPAA laws before starting your business.

Come up with a marketing plan

Once you have your business set up and have applied for the appropriate licenses, you should begin marketing your business. You can promote your business on social media and invest in local advertising.

And don’t forget to ask current clients for referrals. Referrals are an excellent―and free―way to grow your business.

[ Read more: The Difference Between Sales and Marketing ]

Hire your staff

If you want to grow your home care business, then at some point you’ll have to bring on staff. You should choose your employees carefully since they directly represent the quality care you will provide.

Conduct a thorough interview process and run background checks on all employees. You can find potential employees through a staffing agency or through personal recommendations.

[ Read more: The Best Interview Questions to Ask, According to Franchise Owners ]

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Change region us, the comprehensive guide to starting a successful home care business.

Heather Pollock

Getting to Know Home Care Services

Starting a home care business is a big job, but it can be really rewarding. First, let's talk about home care and home health services (they are two different things!) and why they're important.

Home health or home care services help people who need care but want to stay at home. This could be someone who's getting older, someone who's sick, or someone who's just come out of the hospital. These services make sure people can get the help they need without having to stay in a hospital or nursing home.

There is a distinction to be made between home care agencies and home health agencies, even though they both provide care in a person's home. The services they provide and the qualifications of their staff differ.

There are two main home healthcare service types: medical and non-medical. They're both important, but they do different things. Let's talk about what they are and how they can help people.

What is the Difference Between a Home Care Agency and a Home Health Agency?

People might need two main types of home care: medical home care and non-medical home care. They both help people but in different ways. Let's take a closer look at what each one does.

A home care agency typically provides non-medical assistance, which includes helping individuals with activities of daily living (ADLs), such as bathing, dressing, and meal preparation. This kind of care is great for people who have a hard time doing these tasks on their own because they're older, have disabilities, or have certain health conditions. Home care agencies can also provide companionship, light housekeeping, and transportation services. These services are essential for individuals who may have difficulties performing these tasks due to aging, disabilities, or certain health conditions.

On the other hand, a home health agency provides medical care to individuals at home. The staff at these agencies are healthcare professionals, such as registered nurses, physical therapists, and occupational therapists. These services include wound care, administering injections, monitoring vital signs, and providing physical therapy. Home health care is typically for individuals recovering from surgery or illness, those managing chronic diseases, or anyone needing skilled medical attention at home.

It's crucial to distinguish between the two when setting up a business because they require different resources, personnel, and possibly different licensing and regulatory compliance.

Understanding the Market for Home Care Services

As you get ready to launch your home care business, a key step is to get a clear understanding of the market. You need to know who's looking for private caregiver services and why they need them.

Examining the Growing Demand for Private Caregiver Services

The home care industry has seen consistent growth over the past few years, and this trend shows no signs of slowing down. According to the U.S. Bureau of Labor Statistics , employment in home healthcare services is projected to grow 34 percent from 2019 to 2029, much faster than the average for all occupations.

This surge in demand is attributed to various factors, such as the increasing aging population, the preference for aging in place, and the rise of chronic diseases.

Key Driving Factors for Home Care Demand in the US

Aging Population: The U.S. Census Bureau projects that by 2034, for the first time in U.S. history, adults aged 65 and older will outnumber children under 18. [U.S. Census Bureau. (2020). Older People Projected to Outnumber Children for First Time in U.S. History .] This demographic shift naturally leads to an increased demand for home healthcare services.

Preference for Aging in Place: A survey by AARP revealed that three out of four adults 50 years and older wish to stay in their homes and communities as they age. Home health care services make this possible by providing necessary care right at home.

Rise of Chronic Diseases: Chronic diseases such as heart disease, cancer, and diabetes are among the most prevalent health issues in the U.S. Home healthcare services can play a crucial role in managing these conditions, thereby driving up demand.

Understanding these key drivers will not only help you validate the need for your home care agency but also allow you to position your services effectively to meet the evolving needs of your potential clients.

The Global Home Health Care Industry Landscape

Home health care is a big part of health care all over the world. This is because of changes in society, better healthcare technology, and more people realizing that personalized home care can be beneficial. According to some research , the home healthcare market was worth $281.8 billion in 2019. What's more, it's expected to grow by 7.9% each year from 2020 to 20271.

The Home Care Scene in the US

The US home healthcare industry has its own special trends and growth factors. It's doing really well because of a mix of things like more older people, better medical care, and people wanting to grow old in their own homes.

Growth in the Industry: Home health care is one of the quickest growing industries in the US . In 2020, it made about $113.5 billion, and it's expected to grow by 7.9% each year through 2027.

Using Tech in Home Care: Tech has really changed home health care. Electronic health records, telemedicine, and remote systems monitoring patients have improved care and patient outcomes and made operations more efficient. Home Care agencies are now also using software to better manage their schedules, invoicing, and care documentation.

Focus on Value-Based Care: Home health care is moving towards a model that emphasizes the quality of care instead of the quantity. This is making providers focus on being proactive, preventing health issues, and giving holistic care to improve patient outcomes and reduce hospital readmissions.

COVID-19's Impact: The COVID-19 pandemic showed how important home healthcare services are. It created new opportunities and challenges for providers, including more demand for services, the need to use telehealth, and the need to implement tough infection control measures.

If you're thinking of getting into this industry, understanding these things can help you shape your business strategy and prepare to adapt to industry changes.

If you are considering starting a home care business, read the following articles:

Indiana: How to Start a Home Care Business in Indiana (2024 Guide)

California: How to Start a Home Care Business in California: A Step-by-Step Guide (2024)

Ohio: How to Start a Home Care Business in Ohio: Your One-Stop Guide (2024)

Pennslyvania: How to Start a Home Care Business in Pennsylvania: Your Essential Guide (2024)

What to Think About and Challenges When Starting a Home Care Business

Starting a home care business can be great but comes with some special challenges. Knowing what these challenges are and thinking about ways to tackle them can help you set up a business that does well.

Managing Travel to Home Care Clients

Traveling from one place to another is a big part of home health care. Sometimes, caregivers have to drive long distances, especially if their clients live far apart or in areas far from the city. This can affect their schedules and also cost your home care agency money.

It's important to make smart plans for traveling. Try to make the routes and schedules as simple as possible. This way, caregivers won't have to travel more than needed. Also, think about how travel time affects the caregivers' schedules and pay. If they feel like their travel time is valued, they're more likely to be happy and do their best work.

Look into home care agency scheduling software that uses GPS systems to help plan travel routes and verify visit logs. Another idea is to look into telehealth, which lets caregivers provide care over the Internet. This can be a great way to cut down on travel for cases where it's appropriate.

Using Tech to Improve Patient Outcomes

In the world of home health care, technology can make a big difference. It can help us do our jobs better and lead to better outcomes for our patients.

One key technology piece is electronic health records (EHRs). These are like digital files of a patient's health information. Caregivers can quickly get to this information when they need it. This helps them make better choices for a patient's care.

At ShiftCare, we provide a feature called Client Records Management that helps keep track of all these details in one place and instantly keep all caregivers in the loop with client updates, all securely stored on our cloud-based software. Your team can use the caregiver mobile app with the voice-to-text feature to record caregiver notes on the go. The mobile app for caregivers also makes it easy for them to log and track their time and expenses. Making their life easier and your admin work faster!

Another communication technology to explore is Telehealth services, where patients can talk to doctors through video calls. This is especially good for patients who live far away or can't travel easily.

Building the Basics of Your Home Care Agency

When starting a home care business, there are some important things you need to do first. These are the building blocks, or foundations, of your business.

This article is intended to provide general information and insights about starting a home care business. However, it is not legal advice and should not be treated as such. It's important to consult with a legal professional or advisor before making any decisions related to your business. Laws and regulations can vary by location and may change over time, so professional advice is crucial to ensure that your business is compliant and successful.

Setting Up Your Business and Getting an EIN

The first step in starting your own home care business is officially setting up your business. This is called forming a business entity. It's like telling the government, "Hey, I'm starting a new business!"

There are a few types of business entities you could choose, like a sole proprietorship, partnership, or corporation. It's a good idea to talk to a business advisor or lawyer to decide which one is right for you.

Once you've set up your business entity, the next step is to get an Employer Identification Number or EIN. This is a special number from the government that identifies your business. It's kind of like a Social Security number but for businesses.

Registering in Your State and Learning About Licenses

The next step is to register your business in your state. This lets your state know that your business exists and is ready to start working.

You'll also need to learn about any licenses you need to run a home care business in your state. Licenses are like official permissions from the government to do certain things. For example, you might need a special license to provide medical care in someone's home.

Choosing the Right License: Home Care vs Home Health Care

You can choose between two kinds of licenses. One is for a home care agency, which provides non-medical help like housekeeping and companionship. The other is for a home health care agency, which provides non-medical help and medical care like skilled nursing services. The right choice depends on the kind of services you want to offer.

For more information on choosing the right home care or home health care agency license, you can visit the official U.S. government's website for the Centers for Medicare & Medicaid Services (CMS). The CMS regulates these types of services and provides valuable resources on licensure and the differences between home care and home health care services.

Another valuable resource for state-specific information would be your state's Department of Health or equivalent agency. They often have detailed information about licensing and operational requirements for both types of agencies.

Certificate of Need (CON) for Home Health Care Facilities

In 14 states, you must file a Certificate of Need (CON) before you can start your agency. This is a way for the state to control how many healthcare services are available. They'll look at how much need there is in your area before letting you open your agency. For a comprehensive understanding of CON programs, refer to the National Conference of State Legislatures (NCSL) website.

Making a Solid Plan for Your Business

After setting up your business, the next big step is making a business plan . A business plan is like a roadmap for your business. It helps you figure out where you're going and how you'll get there. It also helps other people, like investors or banks, understand your business better.

Thinking About Equipment and Start-Up Costs

The first thing to think about in your business plan is what equipment you'll need and how much it will cost to start your business . This includes things like medical supplies for your care team, an app for caregivers, and software to keep track of appointments.

To figure this out, make a list of everything you'll need and research how much it costs. Don't forget to include any costs for getting licenses or insurance.

Researching Your Market and Competition

The last part of your business plan is doing some market research . You'll want to learn about the people who might use your home care services, which is your market. Find out what they need and how you can help them.

You should also look at other businesses that offer home care in your area, which are your competitors. Find out what they do well and where they could improve. This can help you figure out how to make your business stand out.

Setting Up Your Home Care Business

Embarking on your journey to establish a home care business is exciting. This involves several critical steps, but we'll simplify the process by breaking it down into manageable parts. Let's delve into how your business operations will take shape.

Getting Your Business Systems in Place

The first step in setting up a successful home care business is to adopt specialized tools to manage crucial aspects of your operations, like scheduling , invoicing , and tracking work hours . These tools often come as software solutions that you can use on different devices, including computers and smartphones. Using this kind of software can streamline operations, ensure you adhere to compliance standards, and make your everyday tasks go more smoothly. In our tech-driven world, the right software can make your home care agency's operations seamless.

Creating Clear Policies and Procedures

Next up, creating clear-cut policies and procedures for your business is important. Policies serve as a roadmap for how to react in different situations, while procedures provide a step-by-step guide on carrying out these policies. You might need a policy on what to do when a patient gets sick or a procedure explaining how to collect payments. Keeping your policies and procedures clear and well-documented is crucial for maintaining steady operations and following the rules in the home healthcare industry.

Finding the Right Caregivers and Team

Lastly, thinking carefully about the people who will make up your team is crucial. Primarily, your team should include skilled caregivers who will be responsible for delivering home health care services. However, you'll also require staff to handle administrative tasks such as scheduling, billing, and general team management to run your business effectively. Creating a balanced team with diverse skill sets is vital for the successful operation of your home healthcare business.

Understanding the Rules: State and Medicare/Medicaid Requirements

Running a home care business means you'll need to follow certain rules set by your state and get certifications, especially if you're planning to accept Medicare or Medicaid. While these rules can change from place to place, they usually need you to show that you can give top-notch care, have skilled staff, and follow health and safety rules. The process might seem tricky, but there's a handy guide from the Centers for Medicare & Medicaid Services on how to get certified.

Keep Up With Training for Caregivers 

Just getting up to standards isn't enough. You have to keep up with them too! One big part of this is making sure your caregivers keep learning. This helps you stay in line with all the rules and ensure your team gives the best care possible. There are lots of online places to find caregiver training courses, like CareAcademy . You can use these along with the training programs you do in-house. 

Take a look at the Institute for Professional Care Education for a big selection of training resources for home care providers.

Spreading the Word About Your Home Care Business

Once you've set up your home care agency, the next step is to let people know about it. This is where marketing comes in.

Creating Your Marketing Plan

Your marketing plan is like a roadmap. It guides you in telling people about your services in a way that makes them want to use them. You might use things like brochures, a website, or social media to get the word out. The goal is to reach as many potential clients as you can and let them know how your services can help them.

Making a marketing plan might sound hard, but don't worry. You don't have to figure it all out on your own. We've put together a guide that walks you through the steps. It's called The Ultimate Guide to Marketing Your Home Care Agency and a great place to start.

Remember, the key to growing your home care business is to connect with the people who need your services. Your marketing plan can help you do just that. It's all about getting the word out, showing people how you can help, and building relationships with your community. So go ahead, start planning, and watch your business grow!

Navigating Legal Aspects in Home Care

Understand hipaa and privacy rights.

When running a home care business, respecting your patients' privacy rights is a must. In the United States, the Health Insurance Portability and Accountability Act (HIPAA) is a key law that protects patient health information. Understanding and complying with HIPAA will ensure you respect your client's privacy and avoid legal issues. For more on HIPAA and its application in healthcare, refer to the U.S. Department of Health & Human Services' guide .

Understand Employment Laws

You'll also need to know about other rules related to work besides HIPAA. This could be laws about fair pay, extra hours, not discriminating, and more. Getting to know these laws will help you take care of your worker's rights and keep you out of legal trouble. You might find looking at the U.S. Department of Labor's guide helpful. Don't forget, and it's a good idea to talk to a lawyer to make sure you're following all the rules and laws you need to.

The Role of Home Care Software

As you get your home care business up and running, you'll quickly realize how important it is to have good software to help you out. Think of it as your digital assistant: it can help with scheduling, keep track of patients' details, help with billing, and much more. Having the right home care software can save you time, reduce errors, and make sure your patients get the best care possible. Want an easy-to-use solution? Look at ShiftCare's home care software , designed to streamline operations and improve patient care.

The Plus Side of Electronic Health Records (EHR)

Electronic Health Records (EHRs) are another tech tool you should consider. An EHR is a digital version of a patient's paper chart. It keeps track of their medical history, diagnoses, medications, and more. But it does much more than just replace paper records. With EHRs, you can easily share information with other healthcare providers, which means better-coordinated care for your patients. Also, EHRs can help prevent mistakes like medication errors, making care safer. Plus, they can save you a lot of storage space – no more filing cabinets stuffed with paper charts! So, it's worth considering an EHR system as part of your home care business technology toolbox.

Building Relationships with the Healthcare Community

Networking with hospitals, clinics, and other health care providers.

Your home care business doesn't exist in a vacuum. It's part of a much bigger healthcare world, including hospitals, clinics, and other providers. Building good relationships with these folks can really help your business. Why? Because they can refer patients to you. Plus, when you work together, it's easier to coordinate care and make sure patients get what they need. So, take the time to network with these healthcare providers. Attend industry events, schedule meet-and-greets, and consider joining professional associations. 

For more tips on networking in healthcare, check out this helpful guide from ShiftCare (section #7).

Working Together with Health Insurance Companies

Health insurance companies are another important part of the healthcare world. They can help patients afford your services, which is a win-win for everyone. But to make this work, you'll need to build good relationships with these companies. That means understanding their requirements and making sure you can meet them. It might involve filling out some paperwork and jumping through some hoops, but the benefits can be worth it. By working together, you can help more patients get the care they need. 

Remember, collaboration is key to a successful home care business!

Keeping Track of Your Home Care Business Success 

It's important to know if your home care business is succeeding. To do this, you should keep an eye on some special numbers or "Key Performance Indicators" (KPIs). Here are some KPIs that can help you understand how well your business is doing:

Client/Patient Satisfaction: This tells you if your clients are happy with the care they're receiving. You can measure this by asking them directly or by using satisfaction surveys. Make sure your surveys ask about different parts of your service - like the quality of care, punctuality of caregivers, and ease of communication.

Employee Satisfaction: This shows how much your caregivers enjoy their work. Happy employees often provide better care and are more likely to stay with your company for a longer time. You can check this by talking to your caregivers regularly and by using surveys or questionnaires.

Referral Rates: This is about how often other healthcare providers recommend your services to their patients. If you're getting a lot of referrals, that's a great sign! You can track this by asking new clients how they heard about your service and keeping a record of the answers.

Financial Health: This shows if you're making enough money to cover all your costs and still have some left over. You can check this by regularly reviewing your business income and expenses. It's also important to check how quickly you're being paid after providing services and how much money you owe or are owed.

Client Retention Rate: This tells you how many of your clients continue to use your service over time. If any of your clients stay with your service for a long time, it's a good indication that they're happy with the care they're receiving.

Caregiver Turnover Rate: This shows how often your caregivers leave your service. If your turnover rate is high, it could be a sign that your employees aren't happy or that there are problems with your working conditions.

Regularly checking these KPIs can help you understand what's working well and what might need to be improved in your business. This will let you fix any problems before they get bigger and can help you make your home care business even more successful.

Ready to jump-start your home care business with smart technology? Using a software solution from day, one can be a game-changer.

ShiftCare home care software is designed specifically to meet your home care agency's needs. Its scheduling, invoicing, compliance, and patient management features will help you reduce how long you spend on admin work. So you can spend more time on what really matters, building and growing your home care business.

Experience the ease and efficiency of managing a home care business with ShiftCare. 

Try ShiftCare free and make your first step in the home care industry a confident one!

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Ownr Blog  > Ownrship 101  > Business Stages  > Before You Start  > How to Start a Home Care Business for the Elderly

How to Start a Home Care Business for the Elderly

Canadian seniors account for more than 15 per cent of the country’s total population, according to a recent report by the Government of Canada. In addition, by 2030, seniors are projected to make up 23 per cent of the entire nation’s population (roughly 9.5 million people). With seniors reaching a higher life expectancy than they did decades ago, senior care facilities and home health care facilities for the elderly are becoming more and more common.

• What is a home health care facility?

Home health care is exactly what it sounds like—a range of healthcare and/or services provided from home, rather than bedside at a hospital. Home health care is usually less expensive and more convenient, especially for older individuals who enjoy the comfort and ease of being treated at home.

• Why you should invest in a home care business

Besides a booming elderly population, there are many reasons for small business owners in Canada to invest in a home care business, including the following:

• You’ll feel good about doing it

When you choose to work with a vulnerable population, like children, or the elderly, you are inevitably making a difference in their everyday quality of life. Something as simple as having a quick conversation with your patients every morning or taking the time to get to know them on a personal level can make all the difference in the world for those living in a long-term care facility, especially if they have no family of their own, or can’t see their family as much as they’d like.

• Demand for home care is at an all-time high

As statistics show, Canada’s ageing population is only going up. The demand for home care services for seniors is increasing, especially as the debate around how COVID-19 is managed in private healthcare facilities continues to be a topic of concern. Many seniors do not want to enter a long-term care facility because they want to hold on to their homes, which is another reason that personal care done out of a home is becoming so popular.

• You don’t need to be a nurse

Contrary to popular belief, you don’t have to be a nurse or even a personal support worker (PSW) to start a senior care business. As long as you love to help people and operate in accordance with any licensing regulations, you’ll be just fine! Of course, as with any new industry, it’s always a good idea to do your research and reach out to those who do have a background in healthcare to obtain any advice before you get started.

• If you love people, you’ll love this job

If working with people and helping to make a difference in others’ lives are two things you’re passionate about, starting a senior care service could be the perfect business solution. Offering short-term or long-term care solutions from home means you’ll be interacting with a number of clients every day, sometimes multiple times a day. If you choose to work as an employee within your own business, you’ll likely be part of a team, too, which means you’ll be working closely with others who share your same passions.

• You can network with your community

Starting a home health care business also gives you a chance to make your mark in the community. As a small business owner, relationships are important. Next to word-of-mouth and referrals, partnering with another small business is one of the best free marketing tools out there to let others know about your business and the services you will provide. Many seniors who opt to receive home health care are still very active in their own communities as well. Try visiting your local library or town hall and check out some of the free events going on for the month, where you’re likely to meet seniors in your own neighbourhood who could provide some additional referrals.

• Home health care is a permanent solution

Health care, much like the wedding and funeral industry, is an industry that will always be in high demand. People will always need treatment plans and solutions, no matter the severity. People will always age, and as hospitals continue to face unprecedented capacity as a result of the COVID-19 pandemic, Canadian seniors want access to services from the comfort of their own homes, whether the level of care is medical or non-medical.

• How to start a senior home care business in 9 easy steps

Once you’ve decided to go ahead and start offering home care services for seniors, you’ll need to do the following:

• 1. Come up with a business plan

A successful business doesn’t just happen overnight. Once you’ve come up with the idea, you’ll need to create a basic business strategy that addresses what you need to turn a profit and how you’ll get there. As an entrepreneur, your business plan should help you better respond to opportunities in order to succeed.

• 2. Pick your services

The extent of your home care services will depend on several factors, including your budget. As a cheaper alternative to the treatment you’d typically receive in a hospital, this could influence the extent of services or products you choose to offer. Providing wound care and injections, for example, will cost much less than purchasing the medical equipment needed to run chemotherapy or paying staff to perform 24-hour emergency care. There are many services, both medical and non-medical, that you can offer your clients. Some of these include:

• Skilled nursing
• Therapy (including physical therapy and massage therapy)
• Dietary planning/education
• Support monitoring
• Wound/surgical care
• 3. Give your business a name

Once you’ve established your client base and the services you’d like to provide, you’ll need to select a name for your business. It’s a good idea to also create a website for your business that lists all available contact information in a clear and legible manner.

• 4. Pick your business structure

In Canada, business owners can choose between one of five different business structures : sole proprietorship, partnership, corporation, cooperative, or non-profit. As a sole proprietor, you’re the sole owner of the company and are therefore in charge of making any and all business decisions.

A partnership depends on one or more individuals to make it work —choose wisely!

If you choose to register your home care business as a corporation, you’re in charge of how and when you make money, and you can seek funds from investors, which can be used to grow your business.

If you choose to operate as a cooperative, you will be running an incorporated business controlled by people with shared needs and values.

Non-profit businesses can be set up just like any other business in Canada, but the employees don’t benefit from any profits the business brings in. If this is your first business venture, keep this in mind, especially if it’s your goal to pay out multiple employee salaries.

• 5. Obtain all licenses/certifications

Home health care services require licensing and certifications in order to operate. If you’re looking to start a retirement home, you must obtain a license for your seniors’ personal care business from the Retirement Homes Regulatory Authority (RHRA) and make sure that you comply with their rules and requirements.

Long-term care homes are also subject to mandatory health inspections to ensure that seniors are receiving satisfactory care. The Government of Canada can provide you with more information on any and all licenses that you will need to start a senior care business .

• 6. Get business insurance

Both small and large businesses in Canada require business insurance before you can obtain a business license. There are multiple insurance providers to choose from, all with varying levels of coverage. After you decide on a provider, simply gather all of the necessary documents, and apply over the phone or online.

• 7. Hire employees

Running a home health care business for seniors is too much work for just one person, even if you’re a people pleaser! When you work in healthcare, the people you hire are just as important as the people you help. These individuals will be taking care of your clients, and the best way to get more business referrals is from clients who feel that their needs are being met or exceeded.

While you yourself do not need to have a healthcare background, your staff should, as they’ll be the ones in charge of administering medications, overseeing treatment plans, and performing medical and non-medical applications like wound care and physiotherapy. You should have at least one registered nurse on staff at all times and several personal support workers who have the required training and certifications, like CPR and standard first aid. As always, make sure to conduct a thorough criminal reference check on anybody that you hire, as they will be working for a vulnerable population and as the business owner, you’re ultimately responsible for the well-being of your clients at all times.

• 8. Buy supplies

The supplies you need for your elderly home care business will depend on the kinds of services you will provide. Many wholesalers in Canada specialize in medical supplies, which is a much more cost-effective option than purchasing things on an individual basis.

It’s a good idea to always have commonly used items, like disposable gloves and disinfectant on hand at all times. You can also seek out a medical products supplier or manufacturer and deal with them directly, as opposed to going the wholesale route.

• 9. Spread the word

Funding your business is essential to its success! Once you’ve raised enough capital and have a steady client base to start, you’ll need to get the word out that you’re open for business. Some of your best business could come from your current business — happy clients are likely to tell their friends, who may be in need of similar services, and those referrals are crucial! It’s also a good idea to be active on social media. After setting up your website, create social media accounts and start churning out content that will resonate with the clients you’re looking to attract.

Starting a homecare business for the elderly offers a long-term solution for those who are looking to receive care, but do not want to leave the comfort of their own homes. And, while you do not need to have a background in medicine or nursing, with the right business plan and attitude, working with Canada’s ageing population has the potential to become a rewarding career path. 

This article offers general information only, is current as of the date of publication, and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While the information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ventures Inc. or its affiliates.

• Home Health

How To Start A Home Care Business: A Comprehensive Guide

Entering the home health market is equal parts challenging and rewarding. Like investing in Apple in the 70s, pivoting to a home care business startup may be the best idea since sliced bread. Here’s everything you need to know about how to start a home care business!

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Article Roadmap

• Steps To Follow

Best Practices

Steps to start a home care business.

Starting a home care business is like creating a sourdough starter. It takes plenty of patience, the right ingredients and a tried-and-true formula. Here’s a basic roadmap to help you embark on your home care business journey.

Create a Plan

Planning is essential to the success of any new venture. First, you’ll need some clarity. Start by answering the following questions:

• What is our business focus area?
• What services do we want to provide?
• What is our budget?
• Where will we operate?
• Who is our target market?
• How much do we want to charge our clients?

Selecting the right business structure is also crucial.

• Sole proprietorship
• Partnership
• Corporation
• Limited liability company (LLC)

Keep in mind that the type of business will determine your tax amounts and organizational structure.

Once you understand your scope of operations — and whether it’s viable — you can formulate a blueprint for your business.

Work Out Your Finances

Money makes the world go round. You can have a brilliant plan, but you need greenbacks to implement it. Turning a profit in the first year of operations is extremely uncommon, so you’ll need to draft a budget and figure out whether you’ll need a loan to stay afloat at the start.

Form a Legal Business Entity

Starting a business is a lot like getting married – you gotta get the government involved. You’ll need to set up as a legal business entity, so you’re not personally liable if you get sued. Next, you need to apply for an Employer Identification Number (EIN) to pay taxes.

You must also apply for a national provider identifier (NPI) number. Note that the requirements for home care business licenses vary from state to state. Check with your state’s Department of Health for assistance. Most states require you to register your business with the Secretary of State. You need to file your business name and check if it’s available.

Secure Licenses and Certifications

Before operations commence, you need to maintain compliance with federal and state regulations by applying for the right licenses and certifications. You may need additional approved training, Medicare or Medicaid certification, Home Health Aide Licensing and specific state permits.

Medicare is especially important, as it opens the door for a large clientele base. Medicare Part A and Medicare Part B are primary patient insurance that cover several home health services.

Medicare license accreditation exams can take up to a year in the U.S. The federal government agency will perform a complete audit of your home care business and patient records during the process. In some states, you might need to take a state jurisprudence exam to obtain the license.

Get the Right Insurance

Like in baseball, stay on the ball by keeping your bases covered. Protect your business and employees from unforeseen circumstances with general and professional liability insurance.

Hire and Train Staff

Teamwork really does make the dream work. Hire qualified staff who align with your company’s vision and prioritize client care. Check for up-to-date licenses and contact past employers for references.

Set Policies and Procedures

Home care is extremely people-centric. You need to set proper policies and procedures to provide the best care possible. Define and enforce the following areas of operation:

• Client intake
• Care planning
• Hiring and HR
• Payroll and billing
• Caregiver training
• Client rights and responsibilities

Develop a Marketing Strategy

Now, you have to get people in the door. You need to develop marketing strategies to reach your target audience and get referrals. Some ways to do this are by building an online presence, investing in marketing and CRM software , and working on your branding.

Invest in Equipment

To run a homecare business startup successfully, you’ll need to invest in the tools of the trade. The equipment you need depends on the type of care you provide. Basic equipment includes personal care tools, moving, handling and lifting equipment and medical devices.

Prepare for Operations

Before you open your doors, setting up operations and processes is essential. Ensure day-to-day duties flow smoothly by implementing workflows for scheduling, time-keeping, EVV, time and mileage tracking.

If you’ve made it this far, congratulations! You now have a bare-bones idea of how to start a home care business. However, there are some tricks of the trade you’ll want to use.

Conduct Compliance Checks

Stay ahead of compliance by conducting regular compliance checks and test run audits. Record due dates for employee licenses and set reminders when they need to be updated.

Create an Online Presence

We’ve all been guilty of googling businesses we come across (and judging their credibility based on their website). Creating a website, setting up a Google Business profile and managing your social media play a large role in increasing brand awareness and customer trust.

Invest in Home Health Software

Imagine you could transfer past patient records, set up caregiver schedules, create care plans, manage claims and monitor EVV using one platform. Home health software uses automation, real-time information and workflow management to streamline operations.

It also integrates with other software like EHR, accounting and CRM software to facilitate quick data transfers and minimize unnecessary code-switching.

Empower Your Caregivers

Happy caregivers equals happy patients. Give your caregivers tools to succeed by creating training manuals, setting up clear processes and giving them access to educational workshops and seminars.

Set up HIPAA-compliant secure messaging to make communicating with backend staff and patients easy.

Build Partnerships

Quid pro quo goes a long way to building a loyal customer base. Partnering with local hospitals, nursing homes and healthcare providers will help boost your referrals and build your reputation in the community.

Primary Benefits

Like training for an Ironman, figuring out how to open a home health agency takes planning, preparation and commitment. It’s not a decision you make on the fly. However, the rewards for investing in a successful home care business will make it worth your while.

Boost Your Income

Investing in the homecare industry can land you a pretty penny. Increased demand from COVID and an aging population led to a revenue boom of $136.2 billion in the last five years, with no sign of slowing down. Since home care isn’t routinely short-term, you can rely on a steady income stream.

Improve Your Clients’ Quality of Life

Helping your patients recover the comfort of their home can play a large role in boosting morale, increasing independence and maintaining a positive atmosphere. It also improves health outcomes and cuts down on hospital bills. Patients who receive home health care have lower rates of readmission .

Invest in a Growing Industry

McKinsey predicts the home health industry will grow from $654 billion in 2021 to $790 billion in 2026. Getting in on the ground floor means you can build your business to meet rising demand and navigate changes in government policy.

Control Your Workload

Flexibility isn’t a perk for just your patients. As a business owner, you can choose your clients, pick your operating hours, hire staff to help with your workload and manage your involvement. You can scale your operations up or down based on your clients’ needs and demands.

Every business comes with its own unique challenges. Home care is no exception.

Increased Liability

Prime candidates for home health aren’t usually at their peak. They may be vulnerable to comorbidities and are at high risk for injury or illness. If an incident occurs under your care or due to caregiver error, you may be liable.

Emotionally Taxing Workload

Running any business is stressful. But, any business that deals directly with a client’s health and quality of life is especially taxing. You must prepare to navigate distressing scenes, difficult clients and unhappy caregivers.

Stringent Laws and Regulations

Home care is highly regulated. Businesses have to juggle PDGM models, OASIS assessments, HIPAA compliance and changing CMS regulations. Penalties for failing to meet compliance requirements can lead to hefty fines and lawsuits.

What is a home care business?

A home care business is a professional support service providing assisted care to home patients. The support offered can range from nursing services to physical therapy and hygiene needs. Typically, home care businesses can be medical or non-medical.

Medical home health requires trained medical professionals to run tests, monitor symptoms, administer medicine and dress wounds. Usually, reporting and compliance are stricter. Non-medical home care primarily improves clients’ quality of life and involves companionship care, medication reminders, cooking and cleaning.

How much does it cost to start a home care business?

Breaking into the home care business without knowing how much it will cost you is like going on a road trip without GPS. It’s essential to understand typical costs and potential money pits. Here’s a basic rundown of costs you can expect:

Equipment: You’ll need to factor in medical equipment like gloves, tools to monitor symptoms, medicine dispensers and accessibility aids. You may have additional insurance or transportation costs if you prefer to source your equipment through a vendor.

Licenses and Permits: Depending on the state you’re in, license fees differ. You must pay a one-time registration fee and purchase certifications pertinent to your state.

Insurance: Account for the unaccountable with general and professional liability insurance coverage. You may need to spring for additional premiums if you are a medical home care business with a larger number of caregivers.

Deciding to start a new business is a gargantuan step. It isn’t as simple as choosing a restaurant for lunch. We hope this article serves as a detailed blueprint on how to start a home care business. If you need an extra cheat code, use our free requirements template to determine what home health software may be a good fit for you.

How do you think software can help kickstart your home care business? Let us know in the comments below!

Babucarr Jeng - April 3, 2024 reply

I am interested in opening a home care business, thank you for the insight.

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Home Health Care Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their home health care businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a home health care business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Home Health Care Business Plan?

A business plan provides a snapshot of your home health care business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Home Health Care Agency

If you’re looking to start a home health care business, or grow your existing home health care business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your home health care business in order to improve your chances of success. Your home health care business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Home Health Care Businesses

With regards to funding, the main sources of funding for a home health care business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a home health care business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund a home health care business. They might consider funding a home health care business with a national presence, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results.

Finish Your Business Plan Today!

Home health care business plan template.

If you want to start a home health care business or expand your current one, you need a business plan. Below are links to each section of your home health care business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of home health care business you are operating and the status. For example, are you a startup, do you have a home health care business that you would like to grow, or are you operating a chain of home health care businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the home health care industry. Discuss the type of home health care business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of home health care business you are operating.

For example, you might operate one of the following types of home health care businesses:

• Nursing care business : this type of home health care business is the most common, where the patient is given a doctor-approved plan of care specific to the patient’s clinical needs and delivered within the comfort of their home.  
• Physical home health care business : this type of home health care business provides physical therapy to patients who need help regaining their muscle and joint strength. 
• Home health care aides : this type of home health care business provides patients with home health care aides who assist them with basic daily tasks, such as bathing, cooking, and dressing.  

In addition to explaining the type of home health care business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of home health care patients, growth year over year, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the home health care business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the home health care industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your home health care business plan:

• How big is the home health care industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your home health care business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your home care agency business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: parents of elderly individuals, retired seniors, senior community program managers, etc.  

As you can imagine, the customer segment(s) you choose will have a great impact on the type of home health care business you operate. Clearly, parents of elderly individuals would want different service options and would respond to different marketing promotions than senior community program managers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most home health care businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other home health care businesses. 

Indirect competitors are other care options that people have that aren’t direct competitors. This includes hospitals, nursing homes, and people who help relatives with home health care needs. You need to mention such competition to show you understand that not everyone who needs healthcare assistance will utilize a home health care company.

With regards to direct competition, you want to describe the other home health care businesses with which you compete. Most likely, your direct competitors will be home health care businesses located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of patients do they help?
• What types of services do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior services?
• Will you provide services that your competitors don’t offer?
• Will you make it easier or faster for customers to use your services?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a home health care business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of home health care business that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to home health care, will you provide superior customer service, 24/7 call centers, or emergency services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your home health care business office. Document your location and mention how the location will impact your success. For example, is your home health care business office operated remotely, located near a main highway, near public transportation, etc. Discuss how your location might provide a steady stream of customers. 

Promotions : The final part of your home health care marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local websites 
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your home health agency business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your home health care business, including hiring quality home care professionals, training employees, and administrative tasks.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th patient, or when you hope to reach $X in revenue. It could also be when you expect to expand your facility or launch in a new location.  

Management Team

To demonstrate your home health care business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally you and/or your team members have direct experience in managing home health care businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing home health care companies or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you assist 50 patients per month or 100? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $100,000 on building out your home health care business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a local senior living community approached you with a $50,000 partnership contract to provide home health care services for their occupants. Let’s further assume the contract would cost you $50,000 to fulfill in terms of increased staffing costs. Well, in most cases, you would have to pay that $50,000 now for employee salaries, utilities, etc. But let’s say the company didn’t pay you for 180 days. During that 180-day period, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a home health care business:

• Cost of equipment like standard nursing supplies, sanitary products, and emergency medications
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your Medicaid and Medicare certifications.  

Putting together a business plan for your home health care business is a worthwhile endeavor. If you follow the example template above, by the time you are done, you will have an expert home health care business plan; download it to PDF to show banks and investors. You will really understand the home health care industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful home health care business.

Home Health Business Plan FAQs

What is the easiest way to complete my home health care business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Home Health Care Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of home health care business you are operating and the status; for example, are you a startup, do you have a home health care business that you would like to grow, or are you operating a chain of home health care businesses?

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Other Helpful Business Plan Articles & Templates

• Sample Business Plans
• Medical & Health Care

Home Health Care Business Plan

If you are planning to start a new home healthcare business, the first thing you will need is a business plan. Use our sample home health care business plan created using upmetrics business plan software to start writing your business plan in no time.

Before you start writing your business plan for your new home healthcare business, spend as much time as you can reading through some examples of healthcare-related business plans .

Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample home health care business plan for you to get a good idea about how perfect a home health care business plan should look and what details you will need to include in your stunning business plan.

Industry Overview

The home healthcare industry stood at a massive value of 299 billion dollars in 2020 and is expected to grow at a rapid pace going forward too.

The major reason for this growth is the increase in the size of the geriatric population. Also, many people prefer to stay at home, be it because of the expenses, the comfort it offers, the long-term convenience, and so on.

It is also less expensive and helpful for the government and institutions to better arrange the healthcare sector and make it more cost-effective.

Hence, this sector has massive growth potential for years to come.

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Things to Consider Before Writing a Home Healthcare Business Plan

Figure out the type of your healthcare services.

As home healthcare provides both medical and nonmedical services, you’ll have to figure out what kind of services you want to offer before you start planning. As both businesses require different skills, resources, teams, and procedures, deciding what you want to do helps you plan better and more specifically.

Hence, figure out what kind of services you want to offer.

Decide your legal structure

Your legal structure decides the amount you’ll pay in taxes, the number of legal documents you’ll have to prepare, the liability on your personal assets, and so on. And although it might be intimidating to pick one option amongst several, it isn’t really that difficult. And with a little bit of legal help, it can be made even easier.

Also, it makes it easier for you to conduct your business and stay on the right side of the law.

Develop a marketing plan

Marketing your business right is essential. To ensure that people approach your business, it is important to let them know that your business exists. Also, your marketing should properly reflect your brand’s message and communicate what you want in the right tone.

Hence, developing a marketing plan early on is important.

Have a good team

A good team can make or break your business. As with a home healthcare business, the way you deal with people matters the most, it is important to have a good team. Your team should be able to understand different customers and deal with them accordingly.

Home Health Care Business Plan Outline

This is the standard home health care business plan outline, which will cover all important sections that you should include in your business plan.

• Mission Statement
• Vision Statement
• Keys to Success
• Financial Summary
• 3 Year profit forecast
• Financing Needed
• Management Team
• Personnel Table
• Startup cost
• Products and services
• Market Analysis
• Market Trends
• Target Market
• Market Segments
• Advertising Strategy
• Pricing Strategy
• Financial Plan
• Important Assumptions
• Brake-even Analysis
• Profit Yearly
• Gross Margin Yearly
• Projected Cash Flow
• Projected Balance Sheet
• Business Ratios

After getting started with Upmetrics , you can copy this sample business plan into your business plan and modify the required information and download your home health care business plan pdf or doc file. It’s the fastest and easiest way to start writing your business plan.

The Quickest Way to turn a Business Idea into a Business Plan

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Download a sample home health care business plan

Need help writing your business plan from scratch? Here you go;  download our free home health care business plan pdf  to start.

It’s a modern business plan template specifically designed for your home health care business. Use the example business plan as a guide for writing your own.

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About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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18 Elderly Care Business Ideas

Back to Business Ideas Categories

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on December 1, 2022 Updated on June 3, 2024

The number of Americans age 65 and up is increasing fast and set to hit 80 million by 2040. All those elderly people will need a great deal of medical care and other assistance, which represents a major business opportunity.

If you have patience and compassion, you could help people live better lives while earning a steady income. Check out our excellent list of elderly care business ideas and get ready to start a positive new business in your community!

1. Senior Transportation

Again, the number of Americans age 65 and up will hit 80 million by 2040 . They may be old, but they will still have places to go! If you’re on the lookout for a big business opportunity, consider senior transport.

Start your business by understanding your target market. Older adults still need to visit the doctor, shop for necessities, and see friends and loved ones. But most can no longer drive and public transport often has accessibility issues. The answer is private transportation providers, like your next business!

You could also find out whether seniors need other services. Do they need service providers or just drivers? What is their budget? The answers to these questions will help you determine the type of fleet and service model to use. With your senior transportation business, you can look forward to making a profit and helping seniors maintain their mobility and independence as well. 

2. Non-medical Home Care

As the massive Baby Boomer generation ages, the non-medical home care market is growing fast . If you like helping people, you could start your own home care business and improve people’s lives while also making a good living. That’s a win-win! 

Of course, you’ll need to do a bit of work to get there. First, your state may not require licensing for non-medical home care. Check with your state for details. If you don’t need a license, it’s still a good idea to get a bit of training, even from an online platform like Care Academy .  

Next, your business will definitely need reliable insurance in the event of any incidents, so be sure to get that. Finally, just register your business and start offering your services on home care platforms and services sites like Angie’s List. With a bit of luck, determination, and strong marketing, you’ll be caring for people in no time, and building a successful business.

3. Assisted Living

If you’re an entrepreneur with a background in health care, you might consider starting an assisted living business. It’s a great way to help take care of the elderly and make an impact in your community while making a profit.   

Before you start your assisted living business, it’s important for you to assess the competitive landscape and determine the services that you will offer. You’ll need to comply with the zoning and licensing requirements. It’s also a good idea to study the possible legal issues, hire the right people, and decide which amenities to provide. Most assisted living facilities have gardens, a library, entertainment and a doctor on call. This business needs hefty investments, but the potential for financial rewards is great. So start drawing up the building plans for the best assisted living facility in your area.

4. Errand Running

Busy professionals with little free time and older adults with mobility issues could be your biggest clients if you start an errand running business . Just focusing on the older population provides the errand services industry a huge and fast-growing customer base.

So what does an errand runner do? Pick up clothes from the cleaners, fill the car with gas, pick up a prescription, and other daily tasks. You might want to just focus on a few services and develop your own niche, or you can do whatever your client asks you to do. It will be a matter of time management and you will have the flexibility to set your own schedule. You will need to research the market, though, and learn the prevailing rates. Most errand runners charge by the hour instead of by task.

5. Pool Cleaning

Pool cleaning might not sound very glamorous, but it’s honest work that pays well. Best of all, as pools have become less expensive in recent years, they have also become more popular, which means demand for pool technicians is at an all-time high. 

Of course, pool maintenance involves a lot more than cleaning. The trouble could be anything from a leaky skimmer or malfunctioning pump to an algae bloom or clogged pipes. There’s tons of pool-related servicing to be done. So you could start a pool cleaning business, ride the wave to serious success and soon you’ll be sitting by the pool yourself, enjoying all the profits.  

It helps to live in an area with a lot of pools, and somewhere that’s warm year-round, like Florida or Arizona. You’ll need to get all the appropriate equipment, from filters to cleaning chemicals, brushes, hoses, buckets, nets and more. Finally, enroll yourself in a two-day course to be trained and certified as a pool cleaning technician. All this done, you can start offering your services online while you build your website and launch your new pool cleaning business.

6. Carpet Cleaning

Sooner or later carpets get dirty, which helps explain why carpet cleaning is a $6.8 billion US industry . It’s also seeing sharp growth these days, thanks in part to greater concerns about cleanliness and sanitizing as a result of the pandemic. This means now is a great time to start a carpet cleaning business, help people live healthier cleaner lives and ride the wave to success. 

Getting started is not as difficult as you might think. You’ll need cleaning equipment and a vehicle in which to transport it from job to job. You’ll also need to acquire the relevant licenses and permits. Once all that’s done you can offer your services at online platforms and start marketing your new business. If you use the latest cleaning solutions, which are safe and environmentally-friendly, and promote this aspect of your business, you’ll likely be cleaning up — literally and figuratively — in no time.

7. Gutter Cleaning

It might not sound like the most elegant job, but cleaning gutters can be highly profitable. Demand for gutter cleaning and other outdoor domestic services has sharply increased as people have spent more time at home.

You’ll need some money upfront for buying cleaning supplies and tools. Before you launch your business, though, research the market and see what other gutter cleaning services providers are offering and what their rates are. You can differentiate your business by offering services using environment-friendly cleaning products and automated solutions. 

Once you’ve decided on your niche, start pitching your services on social media and seek referrals. Offer discounts to attract clients and provide additional services like painting over graffiti, or snow shoveling in the winter. Starting your own business can be a daunting task. But with a bit of research and planning, it can be an incredibly rewarding experience.

8. Massage Business

Do you have strong hands and a knack for helping people relax? If so, you might think about starting your own mobile massage business, making house calls to reduce people’s stress and anxiety during these tense times. People want convenience and are willing to pay a bit more for a service that comes to them, on their time, so there’s good money to be made in a mobile massage therapy company.

If you’re not already, you will need to get trained and certified as a massage therapist, which most states require. But this can be done in just a few months, often for a reasonable price at a local community college. Once you’re certified and have chosen your specialty, you’ll just need a reliable vehicle, a massage table and some other supplies and you’ll be ready to start taking on clients, reducing their stress and filling up your bank account!

9. Hospice Care

Once again, the US’ aging population is boosting another industry — hospice care. So, if you’re thinking about starting a hospice business, now’s a great time. You’ll be providing crucial care to people in need while making good money.

But you’ll need to understand the basics of hospice car, from licensing and insurance to staffing. You will need to choose your business model. Hospice care can be provided at home or in a hospice facility. If you’re building a hospice facility, you will need capital and have to comply with zoning and other regulations. You will also need to determine the services that you can provide. Hospices provide pain relief, symptom management, and emotional support for terminally ill patients. It’s not going to be easy. You’ll have to be creative with your marketing and be willing to put in serious effort, but you can get there.

10. Personal Shopper

A surge in online shopping has opened plenty of opportunities for personal shoppers. At Walmart, for example, the number of personal shoppers has more than doubled. If you’ve mastered some shopping skills, you might want to grab this opportunity to start a personal shopper business. 

Personal shoppers make money by shopping for other people, usually for clothing and accessories, groceries and other essentials.

Before you get started, assess your shopping skills, such as putting outfits together, negotiating the best prices, keeping track of sales, and so on. It’s to your advantage to identify your target market. Some personal shoppers provide services directly to their clients while some work for stylists, department stores, and supermarkets. More Americans are turning to personal shoppers for their needs, so it’s a great time to brush up on your shopping skills and make some cash.

11. Grocery Delivery

With online grocery shopping, consumers no longer have to spend time queuing in supermarkets. They simply browse a retailer’s website or app, choose their items, pay online, and take delivery on their doorstep. 

If you’re thinking of starting a grocery delivery business, now’s the time to do it. You have at least three options: operate your own delivery service, work with a franchise, or sign up with an established retailer. Consider carefully the pros and cons of each option before deciding on which business model to choose. Assess the competition as well and identify possible clients if you’re going to give it a go on your own. Whatever your decision, plenty of opportunities await.

12. Personal Driver

Some people hate waiting in line for a taxi or spending $40 on an Uber ride across town. Well, there’s a new trend that’s convenient for anyone who wants it: personal driver services. Demand for professional drivers is increasing as more people realize the advantages of a stress-free and seamless commute.

In order to start your own personal driver business, you need to have a standard or commercial driver’s license. Check with your local authorities whether you need both. Some states may also require personal drivers to undergo training on safety regulations, navigation skills and customer service skills before they can accept clients. You should know the direct routes to hotels, convention centers, restaurants, airports and other landmarks. If you’re familiar with the streets in your city or state, then your personal driver business would have greater chances of success.

13. Handyman Business

If you’re good with your hands and enjoy fixing things, starting a handyman business could be the perfect fit. For one thing, you’ll be doing what you love and taking care of people’s problems. For another, the US handyman industry has been growing steadily for years.

A key first step will be determining which services you will offer. In addition to repairs, you could offer maintenance, painting, cleaning, drywall, carpentry, minor renovations and more. Here are profitable handyman business opportunities and ideas . Next, buy all the necessary tools and start advertising your services on online platforms like Angie’s List. 

You could also reach out to landlords, developers and residential complexes offering to provide your services at a discount. Once you’ve delivered great work in your first few jobs, you can bump up your rates. With any luck, you’ll soon be kicking back in the office counting your cash while your employees do the heavy lifting.

14. Lawn Care Service

Are you a green thumb with an entrepreneurial spirit? If so, a lawn care business might be the perfect venture for you. For starters, the market has grown significantly in recent years, thanks to the real estate boom, and is forecast to keep expanding in the years ahead. In addition, all lawns need care sooner or later. Put it together, and there’s little doubt this market offers real opportunity. 

Of course, you’ll need to stand out in order to attract clients, and deliver top-quality service to keep them. This means you’ll have to invest in the latest lawn mowing and maintenance equipment as well as a strong marketing campaign across social media, various online platforms like TaskRabbit and Angie’s List, and your local community. But if you’re able to do all this right, and get the necessary licenses, you’ll soon be rolling in the green — and we’re not talking about grass.

15. Pet Sitting

You’d probably never guess that pet sitting is a $2.4 billion industry , but it is indeed. People love their pets, and will spend whatever it takes to ensure their animals are cared for when they are away. The pet sitting market is projected to see impressive growth through 2030 so if you’re an animal lover, now is the perfect time to start your own pet sitting business and ride that wave to serious profits. 

The first step is to decide which type of pets you’ll care for. Do you have more experience with dogs or cats? Are you OK with snakes? Once you’ve got that nailed down, you’ll just need to buy some pet toys and supplies and offer your services on a gigs site like TaskRabbit. It’s a good idea to reach out to friends, family and work-related contacts and acquaintances. If you’re able to generate an initial client or two from your own personal network, and provide them with great service, you’ll have a strong reference to promote your services and start building a successful business. 

16. Mobile Waxing

In addition to spa parties, at-home hair removal wax procedures are becoming popular. If you’ve been looking to join the booming beauty industry, consider a mobile waxing business. Waxing continues to be the most popular method of removing unwanted hair growth, as it leaves a smooth finish. With a mobile waxing business, you can provide hair removal services in people’s homes or offices. 

Before you get started, check the licensing requirements in your area. Some states require a cosmetology or waxing certification before you can practice as a wax technician. It’s also a good idea to prepare your waxing equipment and keep up with the latest trends. For example, pre-made waxing strips are becoming more popular as you won’t need to heat wax anymore. It’s also important to be aware of the kinds of wax that your clients prefer. With the right tools and information, you’ll be on your way to running a successful business in no time.

17. Medical Billing and Coding

Many health care providers are outsourcing some business functions, such as medical coding. If you’re a certified medical coder, why not start your own medical billing and coding business? It’s something that you can do from home so your overhead costs will be minimal, and it’s a growing market with plenty of opportunities due to the pandemic.

So, if you are ready to get started, make sure you have the required certifications to operate a medical billing and coding business. A medical coder translates reports of a patient’s visit into payment codes, which are then used as the basis for the medical bill or insurance claim. It’s important to abide by national standards to protect patient information and other regulations. With proper training and hard work, you can make your medical billing and coding business successful.

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• Senior Transportation
• Non-medical Home Care
• Assisted Living
• Errand Running
• Pool Cleaning
• Carpet Cleaning
• Gutter Cleaning
• Massage Business
• Hospice Care
• Personal Shopper
• Grocery Delivery
• Personal Driver
• Handyman Business
• Lawn Care Service
• Pet Sitting
• Mobile Waxing
• Medical Billing and Coding

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Senior Service Business

The Best Home-Based Senior Service Businesses You Can Start On A Shoestring

4 Things You Must Know Before Starting A Non-Medical Home Care Business

By Craig Wallin

Caring for seniors in their own homes is a simple business that allows caregivers to be their own boss and work the hours they prefer. There are some things you should know before you start a senior care business that will get you off to a smooth start. In particular, here are four that are especially important:

1. Licensing a non-medical home care business

A non-medical senior home care business is much easier to start than a home health-care business, because it doesn’t typically require licensed medical caregivers, such as nurses. Because of this, not all states have licensing and registration requirements for a non-medical care business. Before you do anything else, check with your state or city licensing office to find what their specific guidelines are for home care services.

2. Insurance

You will need insurance for your non-medical home care business. If you drive a client’s car or use your own car to transport clients or their pets, you’ll need coverage for that. Also, if you do house-sitting or pet-sitting for clients, you’ll need “CCC” coverage, which stands for “care, custody and control.” Check with your insurance agent or an insurance broker to learn what is recommended for your home care business.

3. Supplies for your home care business

You won’t need a lot of supplies to start a successful non-medical home care business, but there are a few essentials. First of all, you will need a reliable vehicle to drive you to and from your jobs, and a cell phone to stay in touch with your customers. Almost any smartphone will do, and you can also use it to keep track of your schedule and the hours you work for each client.

Next, it’s a good idea to have business cards printed and perhaps a magnetic sign for your car. You can buy both online to save money. Both the cards and the magnetic signs are available at Vistaprint.com for a reasonable price. Having these will create awareness of your new business, and remind prospects to call you for their home care needs.

4. Legal structure for your senior home-care business

There are a few things you will need to do to setup your new non-medical home care business legally. First of all, decide on the legal structure of your business. Will you be a sole proprietor, a partnership or an LLC? This will determine what taxes you pay, and how you file your tax returns. For help on choosing the best legal structure for you, visit Nolo.com, where you’ll find plenty of free legal advice on this topic. Also, you will need to obtain a federal tax identification number, or EIN. You can do that online at IRS.gov. You’ll need that EIN before you can apply for a business license or open a business checking account.

Related posts:

• Help Homebound Seniors With a In-Home Eldercare Business
• 5 Questions To Ask Before Starting A Senior Home Care Business
• Help Seniors Stay Independent With a Non-Medical Home Care Business
• How To Make Money With A Non-Medical Home Care Business

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Senior Home Care Business Plan Template

Explore Options to Get a Business Plan.

Are you interested in starting your own Senior Home Care Business?

Introduction

Global market size, target market, business model, competitive landscape, legal and regulatory requirements, financing options, marketing and sales strategies, operations and logistics, human resources & management, why write a business plan.

Why write a business plan? A business plan is a critical tool for businesses, especially for Senior Home Care, for the following reasons: 1. Articulate and flesh out business goals and objectives: A business plan allows the business owner to clearly define their goals and objectives, and outline how they plan to achieve them. This can be beneficial not only for the business owner, but also for potential investors or partners who need to understand the business's vision. 2. Serve as a roadmap: A business plan acts as a roadmap for the business, providing a clear path to follow and helping to keep the business on track and on target. This is particularly important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place. 3. Communicate the business's vision: A business plan allows the business owner to communicate their vision to employees, customers, and other key stakeholders. This can help to align everyone's efforts towards a common goal and create a sense of purpose and direction within the company. 4. Affordable and straightforward: Writing a business plan is one of the most affordable and straightforward ways of ensuring the success of a business. It allows the business owner to think critically about their business and make informed decisions. 5. Understand competition and differentiate: Conducting a competition analysis as part of the business plan process can help the business owner to better understand their competition and identify ways to differentiate their business from others in the market. 6. Understand customers better: A customer analysis is an essential part of the business plan process, as it allows the business owner to gain a deeper understanding of their target market and their needs. This can help to create better products and services and market them more effectively. 7. Determine financial needs: Writing a business plan can help the business owner to determine the financial needs of the business, including how much capital is needed to start the business and how much fundraising is required. This can help to ensure the financial stability and success of the business. 8. Analyze and improve business model: Putting the business model into words as part of the business plan process allows the business owner to critically analyze it and identify any potential weaknesses or areas for improvement. This can help to improve revenues and fill any gaps in the business strategy. 9. Attract investors and partners: A well-written business plan can help to attract investors and partners to the business, as it provides a clear and thorough explanation of the business and its potential for success. 10. Position the brand: By understanding the company's role in the marketplace, a business plan can help to position the brand and differentiate it from competitors. This can help to create a unique identity and attract customers. 11. Uncover new opportunities: Brainstorming and drafting a business plan can help the business owner to see their business in a new light and come up with new ideas for products, services, and strategies. This can lead to new opportunities for growth and innovation. 12. Measure growth and success: Comparing actual results to the forecasts and assumptions in the business plan can help the business owner to track the growth and success of the business. This allows for updates and adjustments to the business plan, creating a long-term growth plan for the business. In summary, a business plan is a crucial tool for Senior Home Care as it allows the business owner to define their goals, create a roadmap for success, better understand their customers and competition, attract investors and partners, and continuously improve and grow the business.

Business plan content

• Executive Summary: This section provides an overview of the business, including its mission statement, objectives, and key highlights. It should be concise and compelling, grabbing the attention of potential investors or partners. 2. Company Overview: This section provides a more detailed description of the business, including its history, legal structure, location, and ownership structure. It should also outline the products or services offered and any unique features or competitive advantages. 3. Industry Analysis: This section analyzes the market and industry in which the business operates, including trends, growth potential, and potential challenges. It should also include a description of the target market and its demographics. 4. Consumer Analysis: This section delves deeper into the target market, including their needs, preferences, and buying habits. It should also address any potential barriers to entry or customer retention. 5. Competitor Analysis & Advantages: This section identifies direct and indirect competitors and analyzes their strengths, weaknesses, and market share. It should also highlight the business's unique selling points and how they differentiate from competitors. 6. Marketing Strategies & Plan: This section outlines the marketing strategies and tactics the business will use to reach its target market and achieve its objectives. It should include details on pricing, promotions, distribution, and branding. 7. Plan of Action: This section outlines the operational and organizational structure of the business, including the roles and responsibilities of key team members, day-to-day operations, and potential partnerships or collaborations. 8. Management Team: This section provides an overview of the key members of the management team, including their qualifications, experience, and roles within the business. It should also highlight any advisors or consultants involved in the business. 9. Financial Forecast: This section includes detailed financial projections for the business, including a start-up capital requirement, income statement, cash flow statement, balance sheet, and financial highlights. It should also include a break-even analysis and potential return on investment for investors. 10. Appendix: This section includes any additional supporting documents, such as market research, product/service descriptions, resumes of key team members, and any legal or regulatory documents.

Instructions for the business plan template

Instructions for the Business Plan Template: 1. Download the Senior Home Care business plan template from our website. The template is a Word document that can be easily edited. 2. The template includes all the necessary sections for a comprehensive business plan, except for the financial forecast. If you need help with creating a financial forecast, please set up a complimentary 30-minute consultation with one of our consultants. 3. The template contains instructions in red font and tips in blue font to guide you through each section of the plan. Please read and follow these instructions carefully. 4. Start by filling in the basic information about your Senior Home Care business, such as the company name, location, mission statement, and target market. 5. The next section is the executive summary, which provides a brief overview of your business plan. This section should be completed after you have filled out the rest of the template. 6. Move on to the market analysis section, where you will research and analyze the demand for Senior Home Care services in your area. This section also includes information about your competitors and your unique selling proposition. 7. The next section is the marketing and sales plan, where you will outline your strategies for promoting and selling your services. This includes traditional marketing methods as well as digital marketing strategies. 8. The operations and management section should include details about how your Senior Home Care business will be run, including staffing, daily operations, and any necessary licenses and certifications. 9. The appendix section is where you can include any additional supporting documents, such as resumes, licenses, permits, or market research data. 10. As you fill out the template, make sure to save your work regularly to avoid losing any information. 11. Once you have completed all the sections of the template, review and revise your business plan to ensure it is comprehensive and well-written. 12. Congratulations, you have now completed your Senior Home Care business plan! Use this plan to guide you in starting and growing your business. Good luck!

Ongoing business planning

Ongoing business planning is crucial for the success and sustainability of a Senior Home Care business. Here are some reasons why: 1. Adapt to Changing Market Conditions: The senior care industry is constantly evolving, with changes in regulations, technology, and consumer preferences. Ongoing business planning allows you to stay abreast of these changes and adjust your business strategies accordingly. This ensures that your business remains relevant and competitive in the market. 2. Set Realistic Goals: As your business grows, your goals and objectives may change. Ongoing business planning enables you to set new, achievable goals and develop strategies to achieve them. It also helps you track your progress and make necessary adjustments to stay on track. 3. Identify New Opportunities: Regularly reviewing your business plan gives you the opportunity to identify new market trends, potential partnerships, and other opportunities for growth. This can give your business a competitive edge and help you stay ahead of the curve. 4. Manage Risks: Business planning involves analyzing potential risks and developing strategies to mitigate them. Ongoing planning allows you to identify any new risks that may arise and take proactive measures to minimize their impact on your business. 5. Ensure Financial Stability: A well-developed business plan includes financial projections and budgets. Regularly updating your plan allows you to track your financial performance and make adjustments to ensure the financial stability of your business. 6. Foster Communication and Collaboration: Ongoing business planning involves regular communication and collaboration between different departments and team members. This promotes a cohesive and aligned approach towards achieving business goals and fosters a culture of continuous improvement. 7. Plan for Succession: As a senior home care business owner, it's important to have a plan for the future of your business. This may include succession planning or developing an exit strategy. Ongoing business planning allows you to assess the long-term viability of your business and make necessary preparations for its future. In conclusion, ongoing business planning is essential for the continued growth and success of a Senior Home Care business. It enables businesses to adapt to changing market conditions, set realistic goals, identify new opportunities, manage risks, ensure financial stability, foster communication and collaboration, and plan for the future. Therefore, it should be considered a continuous process rather than a one-time task.

Bespoke business plan services

Looking for a Tailored Business Plan for your Senior Home Care Business? Our team of experienced professionals offers bespoke business plan services specifically designed for Senior Home Care businesses. We understand the unique challenges and opportunities in this industry and will work with you to create a comprehensive and customized business plan that meets your specific needs and goals. Whether you are just starting out or looking to expand your existing business, our services will provide you with a detailed roadmap for success. Trust us to help you achieve your business goals and aspirations with our tailored business plan services for Senior Home Care businesses.

Our Expertise At Avvale Consulting, our team has extensive experience working with companies in various industries, including [specific industry/industries]. We specialize in providing business consulting services, including creating bespoke business plans and financial forecasts, to help businesses achieve their goals and secure funding from investors. With our team of expert consultants and valuable resources, we have helped over [Number] businesses succeed and raise over [$Amount] in funding. About Us Avvale Consulting is a leading startup business consulting firm based in [Location]. Our team of consultants has a wealth of experience working with startups and small businesses around the world, providing them with the tools and support they need to thrive. We have a diverse portfolio of clients and have helped businesses of all sizes and stages, from budding entrepreneurs to seasoned businessmen. Our business plan templates are the result of years of experience and expertise, making them user-friendly and effective for any business owner. Get started on your business growth journey today with Avvale Consulting.

Business plan template FAQ

Q: What is a Senior Home Care business? A: A Senior Home Care business provides services and support to elderly individuals who need assistance with daily activities and tasks in their own homes. Q: What services does a Senior Home Care business offer? A: Services can vary, but commonly include personal care (such as bathing, dressing, and grooming), household tasks (such as light housekeeping and meal preparation), and companionship. Q: How is a Senior Home Care business different from a nursing home or assisted living facility? A: A Senior Home Care business allows elderly individuals to age in the comfort of their own homes, rather than moving to a facility. This allows for more personalized care and allows seniors to maintain their independence. Q: Who can benefit from using a Senior Home Care business? A: Seniors who need assistance with daily activities, as well as their families who may not have the time or resources to provide care themselves, can benefit from using a Senior Home Care business. Q: How are caregivers for a Senior Home Care business selected? A: Caregivers are carefully selected through a rigorous screening process, including background checks and interviews. They are also trained and experienced in providing quality care for seniors. Q: Is Medicare or health insurance accepted for Senior Home Care services? A: Typically, Medicare does not cover Senior Home Care services. However, some long-term care insurance policies may cover these services. It is best to consult with your insurance provider for specific coverage details. Q: How is the cost for Senior Home Care services determined? A: The cost of services may vary depending on the specific needs and services required. Our business offers a customizable plan to fit each individual's needs and budget. Q: Can the level of care and services be adjusted as needed? A: Yes, our Senior Home Care business offers flexible and customizable plans that can be adjusted as needed to meet the changing needs of each individual. Q: How can I get started with a Senior Home Care business? A: You can contact our business directly to schedule a consultation and discuss your specific needs and concerns. From there, we can create a personalized plan and begin providing care services. Q: What qualifications and credentials should I look for in a Senior Home Care business? A: It is important to choose a Senior Home Care business that is licensed, bonded, and insured. Additionally, look for businesses with experienced and trained caregivers, positive reviews and testimonials, and a good reputation in the community.

Sales & Marketing Plan for a Home Care Business

• December 29, 2023
• Business Plan , Sales & Marketing Strategy

Operating a successful home care business demands strategic marketing and sales approaches beyond exceptional caregiving skills. This guide focuses on creating a tailored sales and marketing plan specifically designed for the business plan of a home care business.

Beginning with a comprehensive market analysis to understand competitors’ and potential client’s needs, the guide then delves into crafting a distinct brand identity and strategic market positioning.

Additionally, it explores diverse marketing channels to connect with potential clients and examines various sales strategies to enhance revenue generation.

Home Care Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Market Analysis

Before delving into targeted sales and marketing tactics, a comprehensive grasp of the market landscape is fundamental. This analysis serves as the cornerstone for informed decisions about how to position the home care business in a competitive marketplace.

Competitive Analysis

• Identify Competitors : Research and analyze other home care service providers in the region to understand their service offerings, pricing models, customer feedback, and marketing strategies.
• SWOT Analysis : Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to evaluate your business against competitors. Recognize areas where your services can excel and distinguish themselves.

Target Audience Profiling

• Demographics and Psychographics: Define the demographics (age, gender, income) and psychographics (lifestyle, preferences) of your ideal clientele. Understanding their needs and preferences will guide service offerings and marketing strategies.
• Client Needs and Expectations: Ascertain what clients value most in a home care service—whether it’s personalized care plans, specialized medical expertise, compassionate caregivers, or affordable rates.

Branding and Positioning

Establishing a compelling brand presence is essential in gaining trust and standing out in the home care industry.

Brand Identity Development

• Mission and Values: Develop a narrative that highlights the mission behind your home care business. Emphasize your commitment to personalized, compassionate care or any distinctive approach that sets you apart.
• Visual Elements: Create a cohesive visual identity encompassing logos, color schemes, and marketing materials that resonate with your target audience and convey trustworthiness and professionalism.

Market Positioning Strategy

• Unique Selling Proposition (USP): Articulate what distinguishes your home care services. Is it specialized care for certain medical conditions, 24/7 availability, or a unique caregiver training program?
• Positioning Statement: Formulate a concise positioning statement that encapsulates your brand’s essence and the value it offers to clients seeking home care services.

Marketing Channels

Deploying various marketing channels is pivotal to reaching and engaging with potential clients effectively.

Digital Marketing

• Website and SEO: Develop a user-friendly website with informative content about services offered, testimonials, and a blog providing caregiving tips. Optimize it for local SEO to enhance visibility in online searches.
• Social Media: Utilize platforms like Facebook and LinkedIn to share engaging content, client testimonials, and educational resources on home care. Use Instagram to showcase the compassionate side of your caregivers and their impact.

Local Advertising

• Community Engagement : Engage with local communities through sponsorships of senior events, health fairs, or support groups. Host informational sessions or workshops on home care topics at community centers or retirement communities.

Partnerships and Referral Programs

• Healthcare Partnerships: Forge alliances with hospitals, rehabilitation centers, or medical professionals for referrals. Establish yourself as a trusted partner in providing post-hospitalization or long-term care.
• Referral Programs: Create incentives for existing clients or healthcare providers who refer new clients to your home care services.

Promotional Activities

• Free Consultations : Offer complimentary consultations to potential clients, allowing them to experience the quality of your services firsthand.
• Special Offers: Introduce introductory packages or discounts for new clients or seasonal promotions like ‘Holiday Care Packages’ to attract new business.

Sales Channels

Efficient sales channels are imperative for maximizing revenue while ensuring customer satisfaction in the home care sector.

Consultative Selling

• Tailored Care Plans: Customize care plans based on the client’s needs and preferences during initial consultations. Emphasize the personalization and flexibility of your services.
• Transparent Pricing : Clearly outline pricing structures for different care plans, ensuring transparency and clarity for potential clients.

Client Retention Strategies

• Quality Service : Ensuring consistent and high-quality service delivery through ongoing caregiver training, quality checks, and client feedback mechanisms to guarantee satisfaction.
• Feedback Mechanisms: Use membership programs as an avenue to gather feedback from clients. Offer surveys or feedback forms to understand their preferences better and continuously improve services.
• Continued Engagement: Maintaining regular communication through newsletters, informative resources, health updates, and follow-up calls or visits to strengthen relationships and foster trust and loyalty.

Membership and Loyalty Programs

Incentivizing repeat business through membership and loyalty programs is a powerful strategy to foster long-term client relationships and encourage ongoing engagement.

Membership Options

• Exclusive Service Bundles: Offer membership programs providing clients with a set number of hours of care or specific services at a discounted rate. For instance, a monthly membership could include a predetermined number of hours for companion care, personal care, or specialized medical assistance.
• Customizable Plans: Create tiered membership levels with varying benefits to accommodate different client needs. These could range from basic caregiving services to more comprehensive care plans, providing flexibility and value to clients.

Loyalty Rewards

• Point-Based System: Develop a digital loyalty program where clients earn points for every dollar spent on home care services. These points can be accumulated and redeemed for discounts on future services or additional perks, such as priority scheduling or complimentary consultations.
• Referral Incentives: Reward clients for referrals by offering bonus points or discounts when they refer friends or family members to the home care services. This not only encourages loyalty but also helps expand the client base through word-of-mouth referrals.

Exclusive Benefits

• Member-Only Offers: Provide exclusive offers or special benefits to members, such as priority access to caregivers, discounted rates on additional services, or access to educational resources and workshops related to caregiving.
• Anniversary Rewards: Celebrate client milestones , such as membership anniversaries, with bonus points, complimentary service upgrades, or personalized gifts to showcase appreciation and reinforce client loyalty.

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• Best term policy
• Best for seniors
• Best for military members
• Best for higher policy limits
• Best for guaranteed acceptance
• Best for waiting periods
• How we review no exam life insurance

Best No Exam Life Insurance Companies of June 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

Many life insurance companies offer no-exam life insurance, which has the obvious appeal of skipping medical exams. For some people, it's a great option, but keep in mind that this type of life insurance policy will still require some information about your medical history. 

Best No Exam Life Insurance Summary

• Best term life policy: Ethos Life
• Best for seniors: AARP Life Insurance
• Best for military members: USAA Life Insurance
• Best for higher policy limits: Prudential Life Insurance
• Best for guaranteed acceptance: Mutual of Omaha Life Insurance
• Best for waiting period: AAA Life Insurance

Compare No Medical Exam Life Insurance Plans

No medical exam life insurance is particularly good for people seeking insurance later in life, forfeiting death benefit amounts and paying higher premiums to qualify. As such, the best no exam life insurance should have high age eligibility without too much compromise on coverage and costs.

Policies included in our guide on the best no medical exam life insurance insure people up to 85 years old. Read on to learn more.

Best no exam term life insurance 

Ethos life insurance.

Ethos Life accepts applicants up to age 65 with a 100% online application process, and limits are as high as $2 million. 

Ethos Life asks a few basic medical questions, but coverage is effective immediately once approved. In addition, every customer buying policies like this from Ethos Life is eligible for a 30-day look period, which is another way to say you can cancel and get your money back in the first 30 days with no penalties.

• Health questions: Yes
• Coverage limits: Up to $2 million
• Waiting period: May apply
• Unique feature: Instant quotes available with a streamlined online application

Read our Ethos Life Insurance review here.

Best no exam life insurance for seniors

Aarp life insurance.

AARP Life Insurance caters to senior clients for insurance and many other financial products. Older adults between 50 and 74 may qualify as long as they are AARP members. Term policies are available with limits up to $150,000 in most states. Montana and New York residents may be eligible for up to $100,000. Whole life policy limits max out at $25,000.

Whole life policies can be issued without any health exams or medical questions. The term policies, on the other hand, may ask some health questions.

• Health questions: For term life policies, but not whole
• Coverage limits: Up to $150,000
• Unique feature: No medical exam policy caters to older adults

Read our AARP Life Insurance review .

Best no exam life insurance for military members

Usaa life insurance.

USAA Life Insurance is typically associated with military members and their immediate family members, but its insurance products are available to anyone. Pricing is lower, payouts are higher, and customer service is strong. Of course, these services are only available to military and qualifying family members. For the children of a deceased military member to use any USAA products, the military member would need to be signed up before their death.

Guaranteed whole life policies are available in 49 states, excluding Montana. USAA life insurance coverage is available from $2,000 to $25,000 with no medical exam or questions. Applicants who want higher coverage limits can explore medical exam policy options with a licensed agent.

• Health questions: No
• Coverage limits: Up to $25,000
• Waiting period: Two years
• Unique feature: Below-market product costs available for military members and qualifying family

Read our USAA Life Insurance review .

Best no exam life insurance for higher policy limits

Prudential life insurance.

Prudential Life Insurance  offers up to $3 million in coverage for term life policies. Adults up to 60 years old are eligible for coverage with a short application involving some medical questions. For younger applicants, conversion options may also be available later to make term policies into whole life policies. However, due to the higher limits, Prudential's application process may also be longer.

• Coverage limits: Up to $3 million
• Unique feature: High expert and customer rankings with a trusted provider

Read our Prudential Life Insurance review .

Best no exam life insurance for guaranteed acceptance

Mutual of omaha life insurance.

Mutual of Omaha Life Insurance has high financial stability and customer satisfaction ratings across different types of insurance. Guaranteed life policies are available for adults between the ages of 45 and 85. In New York state, the age range is 50-75. Policies can be as small as $2,000 in most states and as large as $25,000 with no health questions or medical exams.

Mutual of Omaha's no medical exam policies have a graded death benefit. If you die within two years of the policy start date, the company will not pay the full policy. Instead, it delivers 110% of the premiums paid. The Mutual of Omaha website boasts same-day payouts on most policies. Policies for children are also available.

• Age: 45-85 (50-75 in New York State)
• Unique feature: Company website lists same-day payment on most claims

Read our Mutual of Omaha Life Insurance review .

Best no exam life insurance for waiting periods

Aaa life insurance.

AAA Life Insurance  offers immediate death benefits for qualified applicants between 18 and 75. In other words, once your policy starts, you are eligible for the full policy benefit. Policies are available with limits as low as $25,000 and as high as $500,000. While a medical exam is not required, health questions are.

AAA offers term policies with limits as high as $500,000. For a whole life policy, the limit is $25,000. But applicants can add a rider doubling the payout for accidental death coverage. Younger people have no waiting period for benefits. For applicants over age 45, AAA pays out 130% of the premiums paid up to the date of death for the first two years.

• Coverage limits: Up to $500,000 term/$25,000 whole
• Waiting period: Applies after age 45
• Unique feature: Death benefit available regardless of the cause of death

How to Choose the Best No Medical Exam Life Insurance Company

The number of life insurance providers can be overwhelming and paralyzing. Asking friends and family about their life insurance policy and using guides like ours can be a great first step toward finding your policy. 

However, guides and recommendations can only go so far in helping you decide which no medical exam life insurance company is best for you. You'll need to take factors like age, medical history, and your financial goals into consideration when you make your decisions. A qualified insurance professional may be able to help you crunch your numbers and find the best policy. 

Coverage Amount

The most important, and most obvious, consideration when choosing a life insurance policy is the payout your loved ones will receive. The coverage you need will often depend on why you want life insurance. If your main goal is to make sure your final expenses are covered, than you'll have plenty of options. However, if you have long-term goals in mind, you may want to consider other life insurance options. 

It's worth noting that no exam life insurance often has limited death benefits, so your options will be limited. 

Policy Type

Generally speaking, most no exam life insurance fits into two types of life insurance policies: simplified issue and guaranteed issue.

Simplified issue : This is ideal for people who want life insurance but have a moderate health condition that may bar them from other insurance options. It's worth noting that some simplified issue life insurance providers enforce graded death benefits, withholding access to your full death benefits for a few years.

Guaranteed issue:  Guaranteed issue life insurance is for older people looking for final expense coverage, which includes funeral and burial expenses. It limits applicants to those who are 50 and above.

Premiums for no medical exam life insurance are generally higher as applicants tend to be high-risk and requirements are lower. You'll want to keep this in mind as you sort through quotes.

Customer Service

You should peruse customer reviews on websites like Trustpilot and the Better Business Bureau while shopping for a life insurance company. You should note how helpful and accessible a company's customer service team is and any issues with receiving payouts. Unresponsive insurance companies are the last thing that anyone wants to deal with after the passing of a loved one.

Why You Should Trust Us: How We Reviewed the Best No Exam Life Insurance

The coverage and riders offered are vital parts of our evaluation. We also look at the speed of payouts, customer satisfaction, and financial strength ratings. All of these factor into the immediate and long-term performance of the life insurance companies we review.

If you're looking for more information about a specific life insurer, our reviews offer a deep dive into individual policies, riders, and more. The same considerations are used for all competitors to ensure readers have the edge to make informed decisions in an ever-changing market.

See our life insurance rating methodology for more details.

Best No Medical Exam Life Insurance FAQs

Most life insurance policies have some waiting period, whether it's a few weeks or longer. However, no medical exam life insurance is sometimes available with no waiting period, and you also have the option to purchase temporary coverage in the interim before your policy takes effect.

There are alternatives to a new medical exam life insurance policy. Insurance agents can quote you medical exam policies if you're denied a no medical exam option. An experienced agent may be able to assess your application before starting the process to avoid official denials. If you're concerned about premium limits, you can explore options like IUL ( indexed universal life ) for permanent life insurance that increases your benefit as long as you make premium payments.

The highest amount of life insurance you can get without a medical exam is lower than what you could get with a medical exam. Guaranteed-issue policies that don't require medical exams typically top out at $25,000 or $50,000 in coverage, while standard life insurance policies can offer millions in coverage.

You'll have to decide whether you prefer a whole or term policy based on your situation if you're getting no medical life insurance. A term policy has an expiration date, and extensions or conversions to a whole life policy are not guaranteed. If anything, your rate may be higher if you try to convert your policy. The insurer looks at you just as it would any other applicant of your age, health, etc. A whole life policy locks in premiums and payouts.

Yes, you can really get life insurance without a medical exam, but your options will be different. That's because you'll need to choose a guaranteed issue policy — a specific type of insurance that lets you bypass the medical exam requirement — and it will probably cost more than a regular policy including a medical exam.

• Main content

Election latest: Another Tory under investigation over election bets - as Labour to return £100,000 in donations

A former Tory candidate who was dropped for betting on the date of the election has vowed to clear his name, as the Labour Party and more police officers also become embroiled in the escalating scandal.

Wednesday 26 June 2024 00:16, UK

• General Election 2024

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Election betting scandal

• Labour candidate suspended | Party to return donations
• Welsh Conservative under investigation
• Dropped Tory candidate vows to 'clear name'
• More police officers accused of betting on election date
• Jon Craig: This has exposed quite a sleazy side of politics
• Live reporting by Faith Ridler and (earlier)  Tim Baker
• Car crash outside PM's country house
• Four arrested in grounds of Sunak's constituency home
• Reform drops in new poll after Farage's Putin comments
• Starmer says children 'worried' about possible move into No 10

Election essentials

• Manifesto pledges: Alliance | Conservatives | DUP | Greens | Labour | Lib Dems | Plaid | Reform | SNP | Sinn Fein | Workers
• Trackers:  Who's leading polls? | Is PM keeping promises?
• Campaign Heritage: Memorable moments from elections gone by
• Follow Sky's politics podcasts: Electoral Dysfunction | Politics At Jack And Sam's
• Read more:  Who is standing down? | Key seats to watch | What counts as voter ID? | Check if your constituency is changing | Guide to election lingo | How to watch election on Sky News

We'll be back at 6am with all the latest from the general election campaign.

There are just eight days of campaigning left until the polls open on 4 July, and political parties from across the House of Commons are busy trying to win your votes.

Join us from the morning for more live updates.

After days of furore directed at Rishi Sunak for the election betting scandal, now a Labour candidate is under investigation by the Gambling Commission for his own betting activity - and is immediately suspended.

Is this an equaliser in one of the grubbiest electoral sagas of recent elections? Quite possibly not.

There is no doubting the utter dismay in Labour HQ at the revelation that they too have a candidate caught up in the betting scandal.

It lends itself to the easy narrative that there's a plague on all politicians' houses - everyone as bad as each other.

However, if the facts are as presented, the scale of the challenge for the Tories is of a different order of magnitude to that now facing Labour.

Labour's Kevin Craig was  suspended immediately  after the party was informed by the Gambling Commission of the probe.

You can read more from our deputy political editor Sam Coates below:

It's 10pm - here's your late night general election bulletin.

Today has had a heavy focus on the Conservative betting scandal - but there's been plenty more for us to sink our teeth into.

• The Conservatives have announced they will no longer be supporting the two candidates being investigated over placing bets on the election date;
• Laura Saunders and Craig Williams will still appear in on their respective ballots - but won't be supported by the party; 
• Mr Williams has since shared a video statement, claiming he "committed an error of judgement, not an offence" and insisting: "I intend to clear my name" ; 
• And Russell George , a Conservative member of the Senedd, has stepped back from the Welsh shadow cabinet as he faces an investigation over alleged bets;
• In other news, four men have been arrested on suspicion of aggravated trespass in the grounds of the prime minister's home , police have confirmed;
• The arrests are connected to a protest by the Youth Demand campaign group, which has staged a number of actions against both the Conservative government's performance and Labour's proposed policies.
• Labour has suspended a candidate today for betting that he would not win in his seat on 4 July .  Kevin Craig has apologised for the "huge mistake" he made in betting against himself;
• The party, meanwhile, has announced plans to tackle knife crime ;
• Sir Keir appeared at an event with actor Idris Elba as they discussed introducing a long-term strategy to tackle the issue;
• Shadow home secretary Yvette Cooper has taken part in an hour-long debate with Conservative Home Secretary James Cleverly , taking in both legal and illegal migration;
• The minister said he does not "envisage" a Tory government leaving the European Court of Human Rights, despite the PM's threats to do so;
• And Liberal Democrat leader Sir Ed Davey has opened up about looking after his disabled son in an interview with Beth Rigby .

Don't forget, Politics Hub With Sophy Ridge is back tonight at 7pm.

And if you're heading home from work, you might also be interested in today's Electoral Dysfunction , all about that photo of Sir Keir and his wife enjoying a Taylor Swift concert at Wembley.

The latest episode of the Electoral Dysfunction podcast is out, with Sky political editor Beth Rigby chatting to former Scottish Conservative leader Baroness Ruth Davidson, and ex-Labour adviser Baroness Ayesha Hazarika.

You can listen to the podcast in full below:

👉  Click here to follow Electoral Dysfunction wherever you get your podcasts  👈

Scotland Secretary Alister Jack has tonight denied breaking any Gambling Commission rules "on any occasion".

It comes after the BBC reported he had told the broadcaster he placed wagers on June and July polling dates.

However, in a statement he said: "I am very clear that I have never, on any occasion, broken any Gambling Commission rules.

"Specifically, I did not place any bets on the date of the general election during May (the period under investigation by the Gambling Commission).

"Furthermore, I am not aware of any family or friends placing bets."

"And for the avoidance of doubt that based on my comment above the Gambling Commission have obviously not contacted me."

Our live poll tracker collates the results of opinion surveys carried out by all the main polling organisations - and allows you to see how the political parties are performing in the run-up to the general election.

It shows a drop in support in recent days for Labour and the Tories - with a jump for Reform and the Liberal Democrats.

Read more about the tracker here .

There are seemingly three things on the minds of British people at the moment - the Euros, the election, and Taylor Swift.

But while the Royal Family have been quick to send their backing to England's footballers and catch the pop star's Eras shows at Wembley, they'll be keeping their distance from the politics.

That's despite the fact that, apart from the monarch, the royals are technically allowed to vote in UK general elections.

Sky News explains why they don't.

Rhun ap Iorwerth, the leader of Plaid Cymru, was also asked about a manifesto commitment to make it a criminal offence for elected politicians to knowingly mislead the public.

Former prime minister Boris Johnson was suspended from parliament for misleading the Commons - does Mr Iorwerth think he should go to prison?

He says legislation to "make it clear there are consequences if you are found to be purposefully deceptive" could be "part of the world of building trust in politicians and politics".

It's noted how difficult it would be to prove someone had purposefully deceived parliament.

Building that trust is a key focus for his party, he says.

"We believe this is important because one of the questions that I've been asked a lot during the course of this election campaign and MPs over the past year, is how do we build trust in politicians?"

That brings our coverage of tonight's Politics Hub With Sophy Ridge to an end, but the show returns tomorrow at 7pm. Stick with us for more news and analysis throughout the evening.

Sophy Ridge  asks about a report into Plaid Cymru, published before Rhun ap Iorwerth became leader, which found "a culture of harassment, bullying, and misogyny".

Has he cleaned up the party's act?

"It was a difficult time for us," Mr Iorwerth admits. "We commissioned this report on ourselves. 

"And, you know, there's a suggestion that other political parties may well benefit from doing the same themselves.

"But this was our moment."

Mr Iorwerth adds that Plaid Cymru has been "through a wake-up" and have "ticked off" all 82 recommendations the report made.

Russell George, a Conservative member of the Senedd, has stepped back from the Welsh shadow cabinet as he faces an investigation by the gambling watchdog over alleged bets on the timing of the general election.

Mr George represents Montgomeryshire in the Welsh parliament - the same area that Craig Williams, the Tory candidate who has had party support withdrawn as he faces similar allegations, represented at Westminster.

Welsh Conservative leader Andrew RT Davies said: "Russell George has informed me that he has received a letter from the Gambling Commission regarding bets on the timing of the general election.

"Russell George has stepped back from the Welsh Conservative shadow cabinet while these investigations are ongoing.

"All other members of the Welsh Conservative Group have confirmed that they have not placed any bets.

"I will not issue further comment on this ongoing process, recognising the Gambling Commission's instruction for confidentiality to protect the integrity of the process."

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