Home health care business plan for starting your own agency
Home healthcare is an $84 billion industry in the US alone and it is not going to slow down anytime soon. It covers both non-medical healthcare and skilled home health care, teams. Currently, the US has over 386,000 home health care businesses and employed more than 1.7 million people approx. But this business is not for everyone. It involves high stress and peer pressure in its environment.
If you have a strong desire and passion for helping others, this industry is very rewarding and you can earn a lot with compassion. If you are eager in starting a home health care business and you are raising funds, it is highly recommended to come up with a well-detailed care agency business plan.
In this section, you need to explain all the basics of your homecare business model. Explain how much amount you want to raise for the growth of your home healthcare business, while presenting the expected operations and financials over the upcoming 3 years. For Example,
Wheatland Home Healthcare Agency (Your Company Name) is a Kansas-based home healthcare agency aimed to provide home health care services to the targeted market.
If you are wondering how to start a non-medical caregiver business, you first need to start with arranging for sophisticated medical equipment. Make a detailed list of all the business equipments you will have to arrange.
In addition, your company should also be licensed by your respective state and who will be your partners.
When making a homecare business model, you should also include who will be the owner and main operator of the home health care business. For example, Wheatland Home Health Care Agency will be based in Wilson County (the area) and owned by its operators and investors. The office will be managed in a lavish office space in Kansas.
Your customers are basically the families and individuals looking for social services and/or home health care. If you are asking how to get clients for non-medical home care business, you can generally ask attorneys, physicians, healthcare facilities and insurance companies who can refer those patients to you.
Consider this example when writing a home health care business plan.
“The company is expecting a business loan for five years from its investors. Later on, we will manage the cash flow to finance the growth without requiring additional debt. We are planning to have full sales on credit. Hence, we need proper cash in hand in the beginning to avoid any problems related to the cash flow.“
When setting up a care company, you need to explain how you are going to make a presence in the market. For example, “Our agency will be based on a central location of Kansas and provide different services to clients and patients coming from Wilson, Neodesha, and Labette Counties, within the radius of 90 miles of our corporate offices.”
Here, you need to define your company and goals when you start a home health agency. You may want to promote and market your business and make an online presence by starting a website.
As a limited liability company, Wheatland Home Healthcare Agency is going to be operated and owned by Ethan J. Peter (name of company owner).
Along with years of experience in healthcare industry, explain the specialization and qualification of the owner.
Why the home health care business is being started?
When making a non-medical home care business plan, explain what the inspiration behind starting a home health care business is. Do you have a strong desire to help people in need which drives you to make it your profession? Do you have years of experience working with a healthcare organization and want to start your own healthcare business?
How the home health care business will be started?
Since your company is being started, you will definitely need to address your funding matters and startup costs. In this sample business plan for home health care agency, we have listed the assets required for start-up, a breakdown of start-up expenses, total cash required, total funding, investment, capital, and other liabilities along with the startup cost diagram to illustrate the expected expenses, investment, assets, loans etc.
Illustrative business plan samples
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