If you are thinking about opening a Personal Care Home, it is very important that you create a business plan first. Here are the steps for you to create a business plan for your Personal Care Home.
Financing– You will need to come up with a plan for financing your Personal Care Home. You can find financing through lenders, investors or your own personal finances. If you are starting your business with a loan it is important to understand the difference and decide between a long term or short term business loan. Make sure that you include the cost for all of the equipment that you will need to make your Personal Care Home fully functional. You will need to come up with an estimation of how much your Personal Care Home will cost on a monthly basis and make sure that you are going to be able to cover the costs. Make sure that you include the estimated revenue that you will be taking in once your business is operable.
Marketing and Sales– It is important for every business to have a marketing and sales plan. This is going to be how you get word out there that you are opening up a Personal Care Home and the services that you will be offering. You will need to make sure that you include your marketing and Sales costs in your finances.
Advertising-You will need to come up with a plan for advertisement. You can advertise on television, phone books, with business cards, through letters, brochures, etc. It is important that you include the costs for advertisement in your financing plan.
Liability– All Personal Care Homes should have insurance in place prior to the first day of operation. You will also need to decide if you are going to have employees, how many, what you are going to offer them for pay, and how many hours each employee will be working.
Having a business plan in place allows your lenders a view into your overall goal. Make sure that your business plan shows that you have educated yourself on all of the state requirements, you have a clear vision on how to make your Personal Care Home operable, and that your finances are clear and sensible. With a clear Personal Care Home Business Plan you will be able to make sure that your business is going to be a success.