Home Based Senior Care Business Talk: Do Self-Starters Save in the Long Run?
As America’s senior population skyrockets past all historical precedents, everybody’s trying to cash in on the surging demand for senior care. There’s even some articles claiming that you can start a senior home care business for under $900!
Today’s post takes a closer look at what that outrageous shoestring startup entails–and whether self-starters really save money in the long run when competing against established brands with proven systems like Executive Care.
The Hidden Costs Of Starting A Shoestring Home Based Senior Care Business
First of all, to make a $900 senior care business work, you already have to have your own vehicle. And that vehicle isn’t branded–you’re just showing up to clients’ homes in your personal vehicle, which isn’t very professional.
The first thing they recommend buying is a laptop, which is suggested for about $200 of your startup budget. But that laptop won’t come with any of the software you need, and free options are limited. Not only that, but you’ll have to spend a ton of time researching which software is needed for your business’s bookkeeping, website creation, marketing, customer relations, sales, and staff management. Time is money.
Though much of that $900 goes to marketing, your advertising would be barebones compared to your competitors, and it wouldn’t inspire a lot of trust in your brand. Most of the money would go towards buying business cards and flyers, and your campaign would boil down to handing these out at senior centers and placing free ads on classified sites. Would you trust your parent to a random Craigslist ad or cheap run of business cards from a business you’ve never heard of?
And while this article claims you “don’t need specialized training” to offer non medical senior care, “just common sense,” that’s a recipe for disaster. Not only does a lack of training fail to inspire faith in your abilities or differentiate you from the competition, it also puts your clients at risk, or else reduces your care capabilities to that of a glorified housekeeping business.
The fact that the aforementioned article would recommend starting a business without training is all the more puzzling when you consider that they also say referrals are the most important source of new business. How in the world do you expect to get referrals with no senior care skills to speak of?
Home Based Senior Care Business Talk: The Bottom Line
So what’s the bottom line of this home based senior care business talk? Do self-starters, in fact, save money in the long run?
In short, no.
While you might save some money upfront by cutting out the franchise fee, you’ll spend much more accruing the skills, experiential knowledge, software, resources, and reputation we offer your business from day-one. This is non-negotiable–you need to offer quality skills if you want to attract customers and compete with established brands like ours. And that’s saying nothing of the time that this learning process takes, or the price of those inevitable mistakes you’ll make along the way.
But at the end of the day, valuations should go beyond money matters; you need to go deeper than start-up and operating costs alone if you want to truly find out what opportunity is best for you. For instance, there’s also plenty of drawbacks to self-startership that the titular question doesn’t consider, such as:
- Self-starters need to “catch up” to national brands like ours while they’re paying rent and overhead costs;
- Self-starter marketing is generally less cost-efficient in the early goings, before brand trust is established;
- Self-starters may experience more “financial fear of the unknown,” living day-by-day without any real idea of how much money they need to spend to open their doors;
- Self-starters do not benefit from corporate support teams, coaching visits, or proven systems–you’re on your own!
Start A Successful Home Based Senior Care Business With Executive Care
To learn more about how to start a successful home based senior care business on your own, with or without experience, visit the Executive Care Homepage or call 1-(855)-393-2372 to speak with a representative near you.