Seeing the growing need for this ever-increasing industry, Home Care Evolution launched a way to get started in the home care industry for less than half the costs of a typical franchise system.
Home Care Evolution (848-444-9865) has launched its ultimate home care start-up program.
Home care is a booming business. Twenty years ago, the census of 65+ was approximately 36 million in the US. This number will double by 2030. The demand for non-medical services for seniors grows as seniors prefer to stay at home. This is guaranteed business now and in the future.
Overcoming Multiple Barriers
What are the barriers to getting into this business? Money, time and knowledge. As in any start-up business, monetary resources are needed to start out. Franchise systems require investments with start-up fees to be no less than $100,000.00. This accounts for a minimum initial fee of $50,000 to $75,000, let alone the costs for state licensing, lost income during the ramp up period of at least three months, training of staff and other start-up costs.
The profitability is the ultimate reward for a business entrepreneur and it doesn’t hurt providing a valuable service that seniors truly need. There is risk for the reward, not everyone makes it but for those that are hungry and willing, there are few business opportunities out there to grow a business relatively quickly.
Get The Ball Rolling
Money starts the ball rolling and is an investment. The next biggest investment is time. There is a ramp-up period that includes time to learn the business, let alone the time it takes to turn a profit. When moving from a paid job to building a home care business, be prepared to weather the financial storm of not having guaranteed work income to help pay the rent, groceries, and so on, let alone new business expenses like office staff, rent, marketing, and more.
The actual time commitment to opening a home care industry is a minimum full-time investment, typically three months prior to opening its doors. It doesn’t stop there. Home Care services Opening and running a home care agency takes full-time, long-term commitment.
Part of the time commitment is learning the industry, not just the caregiving piece, but all facets including running an operation; creating and executing a sales and marketing plan; how to handle recruitment; how to stay in compliance with state and federal laws; how to handle HR functions like I-9 compliance; managing finances; managing client needs, quality control oversight; billing, payroll and more. All of this is typical for day-to-day operations, but how to get started?
Franchise opportunities are still the biggest draw for new business owners. There are tons of them out there, but be careful. It’s difficult enough to invest $50k or more just to have a defined territory, but the royalties make a difference in profitability. That said, the industry standard royalty is 5% of gross, which potentially strips away 25% or more in profitability.
How To Easily Get Started
Seeing the growing need for this ever-increasing industry, Home Care Evolution (HCE) launched a way to get started in the home care industry for less than half the costs of a typical franchise system. What’s more, they charge no royalties. HCE offers its Ultimate Home Care Start-Up Program to entrepreneurs. Here is a highlight of what’s included in the program:
On Day 1, HCE assigns a Business Coach to help through a customized program along with workflow steps for task completion from the Day 1 until the day the doors open, and beyond.
HCE's team of nurses and other experts on staff research and ensure proper licensing and compliance guidelines are met. They offer approximately 250 hours of training and guidance to learn how to operate an agency; best practices in recruitment; how to on-board new employees, and more.
HCE helps establish a corporate identity including assistance with setting up an LLC or S-Corp, guiding through the licensing process, depending on the state. While training is ongoing, HCE creates a logo, brochure; website design and more. Having a personal coach going through homework is a huge benefit. They will customize an employee manual and client services manual to customize while complying with state and federal regulations.
cNeed business insurance specific for the home care agency or where to run background screens? HCE offers some of the best vendor relationships in the industry including significant savings on Liability and Workers Compensation. Even the website is loaded with extras above and beyond what an independent or franchise system offers. They provide a website with cutting edge on-page Search Engine Optimizations and Live Chat features to capture new business leads and recruiting directly from the site.
Newcomers will never have to worry about being alone, or struggle with next steps. HCE guides new agency owners every step of the way so their business can thrive through its first year!
About Brian Machlis, Home Care Evolution
Brian is the Director of Start-Up Services for Home Care Evolution. He graduated from Cornell University with a Bachelor’s of Science Degree and has spent a large part of his career owning, managing and developing small to medium business opportunities.
Brian started in the home care industry over 20 years ago by first investing in a franchise system. It didn’t take long for him to realize the royalty expense of being in a franchise system along with challenges such as not having entrepreneurial flexibility; being in a restricted or pre-defined geographic territory and the disputes that occurred warranted a change.
As such, Brian branded his own agency, brought on Steve “The Hurricane” Weiss as his Director of Business Development and together they built up a large, profitable home care agency valued at over 10 million per year in today’s money.
Interested parties can find more information by visiting https://homecareevolution.com/ultimate-home-care-start-up
