Why would you like to start a senior care business? Have you asked yourself this important question? For some, the answer is to work for yourself by owning your own business. For others, the reason may be, simply, to help aging adults live better lives.
The heart of the matter is captured in this famous quote by, “If you love what you do, you’ll never work a day in your life.”
When I asked one of our clients, Iaisa W., why she wanted to start a home care business she said,
“I’ve been caring for people my whole life…since I was 10…I’ve been in the business for a long time and see how seniors aren’t cared for. That’s why I want to start [a home care business].”
If you would love to serve people through your own home care, hospice or personal care home business, you’re on the right track. Entering this industry can be a great way to tap into a booming sector of business and secure a sound investment. However, It is important to not let the pursuit of financial gain outweigh the needs of the population we serve. As long as you surpass the customer’s needs, develop a plan and put it into action, then your business will be prosperous.
I asked another client, Andrea S. the same question. She said,
“I decided to start a personal care home [because] my testimony is that I was fortunate enough to take care of my father as he began to transition and I enjoyed that process. And as I see the needs of the aging population…I want to be part of that solution [for the needs of the aging population].”
Consider what occurs when we’re not working towards building what we love:
1. Procrastination: If you’re circling around your dream and never quite getting around to, it may be the result of procrastination. Delaying your dream can cost you the rewards of building a fulfilling business.
2. Lost opportunity: You may want to think about the quote by Mark Twain,”Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did so.” The senior care services demand is increasing and all reports point to a growing market. One consequence of not building towards a business you love is regret of missing an opportunity.
3. Expense: Yes, infact, I believe it’s more expensive NOT to build the business you love. As time continues to pass, you’re losing the multiplying effect that time has on money called compounding. In the time that you haven’t expanded financially, you may actually be losing money.
As you develop your plan to start a senior care business that you love, here are some tips to consider:
1. Start working towards your goal.
Identify the tasks needed to move forward. Create a checklist of tasks with corresponding target dates. Designate the same day each week for completing tasks on your checklist.
2. Learn about your state or federal guidelines.
Take time to learn as much as you can about starting a senior care business. Starting early in the process gives you the time needed to avoid costly mistakes caused by rushing.
Start out by understanding the licensure requirements. Every state has clear guidelines that must be met in order for a senior care business to operate. It may not be the most exciting reading, as these guidelines can be 50-100 pages long. But we recommend that you read through the licensing guidelines in its entirety.
3. Get help
Starting a business involves many steps. These include research, registrations, business planning, marketing and budget planning. Often, another pair of hands can help ease the overwhelm of the process. Asking other senior care business owners questions and advice is also a great way to give you a head start.
It was a love for senior care and helping others that sparked my desire to start a senior care business almost a decade ago. While running my first senior care business, a personal care home outside of Atlanta, GA, I assisted and mentored other new owners to start their businesses too. From my own experience starting up, I knew there were limited information and guidance out there from actual owners and I really wanted to offer assistance where I could.
I managed to open my own business while having 4 children under the age of 6, all while working a full-time executive position in a major corporate senior care company. If you have a slew of responsibilities, I understand the challenge to find the time to reach your dream.
So between being a corporate executive at a large senior care company, starting my own senior care business and juggling the responsibilities of my family life, I have personally started 3 senior care businesses and continue to open them with this same process. Not only that, our clients have benefited by learning from our experiences.
The truth is if you’ve started and got derailed in the process to start a senior care business, I’m sure you already know by now. It’s tough to get the answers to your questions. It’s frustrating to start a business alone. You hit brick walls and you don’t know how to get around them. You’re not even sure what’s coming next. Does this sound familiar to you? Don’t feel bad. Many people go through the same hurdles starting a senior care business. You still have the choice to either work every day or build a senior care you love every day.
Let me ask you, would you be willing to commit to investing in a 20-minute phone call to set up a senior care business you love? Contact CF Consulting, Inc. for a FREE CONSULTATION to get your senior care business started today!
“The tips CF Consulting transitions to new owners is awesome!” Nigel D. Home Care OwnerRead More
“We needed assistance with our license documents. We had been struggling as they were very confusing. We were referred by another company, the best referral we had ever got. Promptly everything was explained by your consultant. The consultant went even further and set up the entire sections we were struggling with. It took such a … Continue readingRead More
Watch this video to hear about iCare Personal Care Home, Atlanta, GA. To get your hospice, home care of personal care home program off the ground, go to cfconsultinginc.com.Read More
“Working with Cassandra has been good for my business. She picks up your call and she values your business.”Read More
…[Our] hospice is not about the money. It’s about what God has called us to do…We couldn’t have done it without you…Read More
I want to thank you ever so much for all the professional guidance, assistance, and support provided to [us]. Your excellent services helped our agency become licensed in July 2014… This would not have been possible without you and your fine company… I look forward to using your services with continued growth of our Hospice.Read More
Not only did you take the time to meet with me, but you were able to go in such detail about the ins and outs of the business. You made me feel comfortable in every avenue of my new venture. I found that this industry can really be tough. It’s hard to get information from … Continue reading Shay S., Personal Care Home Owner, Marietta, GARead More
Your company was just what we were looking for. We appreciate the time you spent listening to our needs and understanding the nature of our company and how we operate.Your great work assisted [us] in obtaining permanent licensure for State and Medicare. We are truly blessed and appreciate your assistance in every way.Read More
Our hospice was growing and [CF Consulting, Inc.] provided collaboration, leadership and education in all aspects of hospice care. As a new DON, Ms. Freeman introduced me to the world of management. She is very knowledgeable about the hospice process regarding state regulations, Medicare guidelines and hospice appropriateness, Her services are solid and secure. We … Continue reading Nancy W. RN MSN, Hospice Director of Nursing, Atlanta, GARead More
CF Consulting takes the time and care to get to know your company. They handled a mock audit that covered not just the complexities of Medicare Rules and Regulations to assure compliance but also our daily operations. Change and correction can be a tough process, but can be made easier when you have the right … Continue reading Tina T., Hospice CEO, Fayetteville, GARead More
We received our Medicare-certification and state-license with the assistance of CF Consulting, Inc. I communicated the parameters and they were met as per target dates. CF Consulting, Inc. guided the process from the initial application to implementation. Their knowledge of hospice regulations and management truly started our company in the right directionRead More
CF Consulting was professional from start to finish. They delivered results within established milestones and exceeded our expectations.Read More
Everyone that I have referred to CF Consulting has left with a better and broader sense of what it takes to run a Personal Care Home. The key to succeeding in the Personal Care Home Business is to have a heart for helping people. CF Consulting, Inc. has that quality….Read More