At $100 billion a year, it makes sense to start a home health care business
You have a heart for serving others, you want to provide people with the support they need, and you want to build a thriving business. These are just a few of the reasons why you may be considering starting a home health care business. But where do you start?
These five simple steps are all you need to do to start a home health business and to embark on a rewarding and fulfilling journey to helping your community.
Decide what kind of home health care service you want to provide
There are many different kinds of home health care companies, from nursing to companionship. If you have specialized job skills or a state license in a care field, perhaps a specialized service is the right fit. But for most entrepreneurs, homemaker and personal care is what they’re hoping to provide. Since most states don’t require special licenses for homemaker and personal care services, this is the option that’s right for most people. It’s also one of the fastest growing segments of the industry.
Get licensed and register your business with the state
The paperwork required for starting a home health care business varies from state to state. All states require some form of registration for your business. You can establish a sole proprietorship, a limited liability corporation, an S-Corp, or any number of partnerships. The kind of business you register depends largely on your business goals. Consult with a Certified Public Accountant or business planner to determine which kind of business license is right for you.
Develop a brand name and marketing plan. What do you want to call your business?
Do you have a name in mind already? Does the name evoke an image of the service you hope to provide? What about a logo? Developing an effective brand requires graphic design, lots of writing ad copy, web site design and development, and crafting the image you want people to see. It can also be quite expensive, so if you’re starting a home health care business independently, plan ahead.
Find an insurance company to provide insurance
Even unskilled home care business services need to carry the right insurance. Typically, states require workers’ compensation insurance, in addition to a blanket liability policy, to protect clients in the event of injury or damage to property. Consult with a licensed, reputable insurance agent to determine which kinds of coverage are right for your new business. Be prepared to provide financial documentation about your business, as well as a description of the services you provide. Also, bear in mind that the kind of home health care business you start can impact the cost of insurance premiums. The more complex the care, the higher the premiums are going to be.
Advertise for clients and hire personnel
Once you’ve established your brand and registered your business with the state, you’ll need to get the word out. This starts with social media shared on sites such as Facebook and Twitter. Also, you may need to advertise on local television and radio, in the local newspaper, and in magazines. It’s also important to get the word out to hospitals and doctors that specialize in senior care and rehabilitation, so they can make referrals.
You don’t have to be overwhelmed with all the steps. In fact, industry intelligence company IBISWorld points out that more than half of all individuals starting a home health care business will be franchise owners within 20 years. The right franchise opportunity will help guide you through licensing and regulatory steps you have to take, while also providing you with the marketing support and established brand to help leapfrog competitors.
If you’re considering starting a home health care business, you may want to look at becoming a Touching Hearts At Home franchise owner.
Ready to Join Touching Hearts At Home?
Get a jump-start on the competition with a Touching Hearts at Home franchise in your area. Touching Hearts at Home is a non-medical home care provider. We focus on homemaking, personal care, and companionship with the goal of improving the quality of life for all our clients.
To find out more about how you can begin Touching Hearts at Home, request more information. We look forward to joining you on your journey to becoming a successful entrepreneur.