Start a Home Care Business
1. Set up your business entity
Consult with an attorney and a CPA
Select your business name carefully to position your company for the future
Select the most appropriate business entity for your personal situation (Sole proprietor, Partnership, Limited Liability Company, S Corporation, C Corporation)
Register your business with the Secretary of State in your state
Obtain a Federal Employer Identification Number (EIN) from the IRS (IRS form SS-4. www.irs.gov
2. Set up your financial systems
Set up a business checking account
Set up a business savings account (You’ll want to put aside savings every month to pay your quarterly tax deposits)
Put enough money aside to operate for six to twelve months without any income
Set up a credit card merchant account (Google Checkout is free until 2008.
Set up a computerized accounting system. (We can suggest QuickBooks by Intuit)
3. Develop your Private Duty Home Care Business Plan
Write a detailed plan of how you will start, operate, and grow your business. (A business plan format is available from ComfortStay Assistance.
4. Acquire the appropriate licenses, registrations, and insurance
Obtain a city or county business license
Obtain a sales tax license (if required in your state)
Obtain a home care license. Approximately 23 states require that non-medical home care companies be licensed. Contact ComfortStay Assistance to learn more about specific state licensing requirements.
Register with your state Department of Revenue (In some states, you can register online. Go to www.state..us
Register with your state unemployment service
Purchase workers compensation insurance
Purchase business liability insurance
Purchase fire insurance on your office, contents, and valuable papers (even if you are working out of your home initially)
5. Set up your office systems
Intake process
Scheduling process
Client care documentation and record keeping
Employee records
Payroll process
Billing and collection process
6. Prepare your Private Duty Home Care Policies and Procedures
You can write your own policies and procedures, or your can purchase a policy and procedure manual that you can customize to your company. ComfortStay Assistance has solutions for all of you possible needs.
7. Develop and implement your caregiver recruiting and retention plan
Contact ComfortStay Assistance to learn more about strategies, procedures and recommendations.
8. Develop and implement your sales and marketing plan
There are several valuable resources available to help you design and implement your sales & marketing plan:
Contact ComfortStay Assistance to learn more.
9. Recruit and hire your office staff
10. Begin the process of relationship building in your community. Solid business relationships should be built with the Doctor's offices, hospitals, assisted livings, nursing homes, non profits, and small businesses that service the senior market.
Keep in mind that who you associate with is an extension of your agency.
11. Admit your first client. Celebrate your success.
12. Grow your business.
Now it’s time to take your new company to the next level. You’ll want to continually add new features and revise old plans and processes to take your company into the future.
Add a computerized scheduling and billing system
Offer ancillary products and services such as Emergency Response Systems.
Set up an employee referral program so that your current caregivers can help you find additional staff
Increase your investment in sales and marketing to bring in more client inquiries and referrals
Consider joining the National Private Duty Association … the only national trade association specifically for non-medical home care companies.
Michael J. Gultz, MBA is a Small Business Coach, strategist, entrepreneur, speaker, and President of ComfortStay Assistance, Inc.
He works with small business owners who are looking for strategies for success, want to move to excellence and Achieve profound breakthroughs.
Michael is passionate, inspiring, enthusiastic and his contagious energy makes him fun to work with. He's a catalyst who brings out your answers, insights, thoughts and ideas. Michael believes in taking a simple and basic approach in order to locate the most efficient path to success.
For more information on Home Care Business Consulting Contact:
Michael J. Gultz MBA, MFP President ComfortStay Assistance,Inc. www.QualityCompanionship.com mgultz@qualitycompanionship.com 1-866-305-8320
Article Source: ArticlesBase.com - Start a Home Care Business