How to Start a Homecare Business
When it comes to starting a homecare business, the “whys” are abundantly clear. The demand for home care has risen dramatically in the last decade, which is in line with America’s aging population. In this field, you can expect substantial growth while doing deeply meaningful work.
The real consideration, then, is how to start a homecare business.
The Basics of How to Start a Homecare Business
Whether you’re new to the home care industry or to entrepreneurship in general, there is a lot to learn as you embark on this new venture.
The nitty gritty details will vary by state, community size, and what you’re willing and able to put into your business in terms of time and investment. In general, though, the basic steps of how to start a homecare business on your own include the following:
Creating a detailed business plan
Your business plan is where you’ll map out everything you need to start your business, including:
- The services you’ll provide
- Target market
- Estimated startup costs
- Estimated monthly budget
- Overarching goals and values
You’ll need to research local demographics, outline projected costs, and look into any competition in the area as part of this process.
Acquiring necessary licensing, certification, and insurance
As part of your due diligence, you’ll need to research state and municipal requirements for starting your own business, as well as any certifications and licenses that are specific to home care.
You’ll be working directly with clients in their homes, so you’ll most likely need professional and general liability insurance. You should also consider cyber liability insurance in the event of a data breach.
Securing funding for startup costs, cash flow, and living expenses
Whether via loans, savings, or friends and family, you’ll need enough capital to cover the initial investment required to start a business. Keep in mind that a new business can take months, if not years, to turn a profit, especially when you start from scratch. As a result, you should also factor in living expenses and operational costs for at least the first year.
Purchase necessary equipment, software and space
While the upfront costs are comparatively low without inventory or a vast storefront, you'll still need to invest in office equipment and supplies. You’ll also need software to manage the administrative side of your business, including client records, payroll, accounting, and scheduling.
Some home care business owners opt to start their company without a storefront. But you should consider this carefully. Does this send the right message to potential clients?
Create and implement marketing plans to attract clients
Last but not least, you’ll need to make your presence known within the community via advertising and marketing.
Also, consider local community groups you can join to help spread the word about your location. The local chamber of commerce is a great place to start. You should also consider networking and/or cold calling on related businesses who could be a source of leads.
A functional website with clear messaging is a must, as well as a social media presence. It may take time to get traction on search engines, even with investments in search engine optimization (SEO) efforts and an active blog. Consider purchasing digital ads, printing and distributing flyers, and targeting areas and publications that your target market flocks to.
The Benefits of Buying a Homecare Franchise
Owning your own business is incredibly rewarding, but as you can see, figuring out how to start a homecare business can be a time-consuming and costly process. Without a support network in place, it can be quite lonely too.
By buying a homecare franchise, you can enjoy the independence of business ownership in your chosen industry, while skipping much of the initial legwork and risk. With an initial investment and royalty fees, you’ll have access to everything you need to get started, including equipment, systems, and marketing materials. You’ll also receive training and ongoing support from our team and our wider franchisee community.
Just as importantly, you can start your homecare business under a name that prospective clients will recognize. Brand recognition is always a powerful tool, but especially in a field that requires sensitivity and trust.
At Visiting Angels® , we’ve been providing quality home care for more than 20 years. As a nationally recognized home care franchise with hundreds of locations, we’ve also helped many aspiring entrepreneurs get started in this lucrative field.
To learn how to start a homecare business with Visiting Angels, call 800-365-4189 or request the information online today.