A Guide to Starting Your Own Senior Care Facility
Do you have compassion and a genuine desire to help others? Do you have a good head for business, but are struggling to find the right opportunity to start your entrepreneurial adventure? If you have answered ‘Yes’ to both questions, a solution could be to start your own senior care facility.
Unlike other businesses that are falling by the wayside due to advancements in technology, senior care facilities will always be in demand. Factor in the fact that the general life expectancy is increasing, and there is an increased need for the elderly to receive adequate adult care.
Even though the opportunity is clearly there, you cannot jump into beginning a senior care facility without the right planning. To understand which steps, need to be taken, this guide will detail the main points to consider.
Is a senior care facility required?
This is an important question to answer before deciding to go through with starting your senior care facility. Yes, adult care homes are in demand. Yes, they are not going away anytime soon. Yet, these points do not necessarily mean the business is a viable one for your area.
Ensure you put in the necessary research to find out if a senior care facility is required. First, start by seeing if your business’s planned area has a noted population of older adults or those that are closing in on retirement age. You should also gain an understanding of the needs of your target audience – and if you can meet these needs. These needs could include everything from medical to emotional support.
Another important point to research is the competition in your area. While it is great that others are also providing support for those that need it, an oversaturated market means there is less opportunity for your business to make a profit. However, if you can differentiate from what they offer and provide more competitive pricing, there could be room for your care home to flourish.
Write a business plan
Starting a senior care facility is not cheap. Unless you have a large chunk of money sitting in your bank account, you will need to apply for financing. This is done with the assistance of a professional, detailed business plan.
A business plan is not only beneficial for gaining a loan, either. It presents a great incentive to learn more about what is required to start your business and turn it into a success. You will have a better understanding of your expenses, marketing, business structure, and so on.
Pick a property
The property for your care home is, obviously, an essential component. You need a building which is comfortable for your residents, with enough rooms and space for facilities. You also do not want a property with too many stairs or is not easily accessible by ambulances and other vehicles should an emergency occur.
You also want the property to be in a desirable location. Ideally, it should be in a quiet area that is away from the noise. Yet, at the same time, you do not want it to be in the middle of nowhere. This is not good for people that want to visit residents, plus you do not get the benefit of the advertisement from those going past the property.
The right license
As you would expect, you must obtain a license to operate your planned adult care home. License requirements differ depending on the state you plan to operate in, which means research is needed on your part to understand the rules and regulations of the relevant authorizing body.
In California, for example, you need to acquire a Residential Care Facility for the Elderly license. An RCFE license is not easy to apply for, which means it is advised you receive professional assistance from an accredited provider. They can ensure your application is completed properly the first time around – which means you do not have to wait around or experience any unnecessary delays.
Once you have your license in place, there are no obvious obstacles in turning your business dream into a reality.
Hire qualified staff members
As a service business, your senior care facility is only as good as the employees you hire. It’s essential you bring in staff members who reflect your principles, the type that will care for residents with the dignity and respect they deserve. The last thing you want to do is hire workers only to collect a paycheck each month.
When you begin the recruitment process, there are several aspects you have to check off the list. First, you need to know the type of employees you will require for your care home. Also, you have to understand how many staff members are needed for the business to operate efficiently.
The next step is identifying which candidates have the right qualities for your care home. It makes sense to hire those with previous experience with nursing, social care, and personal care. While it goes without saying, you also have to perform a thorough background check before hiring any potential employee.
Get the word out
You have the financing. You have got the right property and furnished it appropriately for your care home. You have hired your team. Now it is all about getting people to choose your senior care facility.
To do this, you have to be effective in promoting your new business. There are numerous approaches you can take to advertise your care home. Traditional promotional methods like leaflets and brochures will typically work best for your target audience. However, do not think seniors cannot use the internet. Even just having a website with full details about your facility can make a big difference. This is especially the case if an older person’s children are searching on Google for the best local care homes.
Another smart tactic is to develop professional relations with hospitals and doctors in your local area. By doing this, they could recommend your care home to elderly patients they feel require additional assistance.
