Compassionate Care: Starting an Elder Care Business
Business Overview:
If taking care of others brings you great joy in life and you’re looking for a new business idea, you should look into starting an elder care business. As the baby boomer generation ages, not only will these individuals start to need help with day to day activities, but they are already having to care for their elderly parents. Often children are faced with caring for their aging parents from a great distance. An elder care business could act as a liaison between parents and children. This business is not only rewarding but very inexpensive to start up. All you need are a few employees and some marketing materials. As your client base grows, you can hire more employees to handle the demand. Before you get started, you should write up a business plan that outlines what services you will offer. Services can range from grocery shopping and housekeeping to companionship and transportation. You can focus your business on as few or as many services as you’d like. Your business plan will also define your marketing strategy. You may reach out to local churches, support groups, community centers and any place the elderly or their families might gather. Word of mouth marketing will be vital to the success of your business so you must offer topnotch customer service to your clients and their families. If your first few clients are pleased with your services, your client list will grow and you will have plenty of business to ensure your success.
A Day in the Life of an Elder Care Business Owner:
As the owner of the business you will meet daily with your employees and review their assignments for the day. You will spend some time discussing each client with his or her assigned helper to assess any new needs that might arise. Once your employees have gone out to meet their clients, you will spend a portion of your day marketing your business by making phone calls, placing ads in local magazines or leaving fliers where both the elderly and concerned children of aging parents might see them. You will want to talk to each of your clients on a regular basis to make sure they are happy with the services they are receiving and to see if there’s anything else your business can do to help them.
About Your Customers:
Your customers will be elderly adults who need assistance with various day-to-day activities such as changing light bulbs or a ride to the doctor’s office. Your customers might also be children of elderly adults who need someone close to their family members to help them.
What You Need to Start:
- A desire to help care for the elderly
- Business plan
- Marketing plan and materials
- Employees
- Computer with finance software
- Licenses and insurance
The Good:
- This business is extremely rewarding.
- It is inexpensive to start an elder care business.
- Most of the tasks your business will be asked to do are simple.
- Your return on investment can be quite high.
- Since your employees will be doing most of the work, you can concentrate on marketing.
The Bad:
- Finding employees who are as passionate about elder care as you are can take some patience.
- It can be difficult to watch the struggle children go through as their parent’s age and they find they can’t always be there to help.
Resources:
- National Association of Professional Geriatric Care Managers
- National Family Caregivers Association
- Bureau of Labor Statistics for Home Health Aides and Personal and Home Care Aides
- Wikipedia on Elder Care
About The Author
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