Starting a Non Medical Home Care Business with No Experience?!
Starting a non medical home care business with no experience might sound crazy, but it’s not!
In fact, many of our most successful franchisees entered into our system with no prior skills or experience in senior care.
But don’t take our word for it. Today’s post reviews empirical research from the Journal of Business Venturing that shows why the Executive Care training and support system can transform any greenhorn into a senior care authority!
The scientific value of education and experience for starting a non medical home care business
The Journal of Business Venturing published a remarkable report in 1994 studying the impact that education and experience levels had on self-employment success.
They approached their study with the following research questions:
- Do entrepreneurs have higher levels of education on average, relative to the general public?
- Do people with higher levels of education start more businesses than people with less education? In other words, does education increase the probability of being an entrepreneur?
- Does education help an entrepreneur succeed?
- Does experience help an entrepreneur succeed?
With these questions in mind, they developed 4 major hypotheses:
- H1: Entrepreneurs have more years of formal education than salaried workers.
- H2: The number of years of formal education will increase the odds of entrepreneurship/self-employment.
- H3: The relationship between years of formal education and entrepreneurial success will be significant.
- H4: The relationship between experience and self-employment success will be positive and significant, but weaker than the impact of education.
And here’s what they found.
- H1 confirmed, though the difference in education levels was small. Entrepreneurs had on average 1 year more education/vocational training than their salaried and wage-working counterparts.
- H2 supported, though the influence education had on entrepreneurship was small. Their research found only a 0.8% increase in the likelihood of becoming an entrepreneur for every additional year of education.
- H3 was supported – unsurprisingly, formal education ups our general earning potential. This was true for both entrepreneurs and salaried workers, whose earnings increased rough $800/year and $1200/year, respectively.
- H4 was supported – experience helps, but education matters more. In this case, the impact of experience was much less significant on total earning potential and success rates than education/vocational training.
So what does science say about starting a non medical home care business with no experience?
Ultimately, the Journal of Business Venturing study confirmed that when it comes to entrepreneurial success, education and preparation matter most.
While experience was positively correlated with business earnings, the different was nominal, gender-specific (females’ “experience seemed not to significantly impact their earnings”), and ultimately much less of a factor than the quality of training and education that the entrepreneur received.
And that’s why the Executive Care model works for anyone with the right attitude, strength of character, and means to get started. We offer top-tier training and support systems that can be used to shore up any gaps in your skillset, or build your senior care expertise from scratch. And because our training, sales, marketing, and territory system is all informed by our decades of practical, front-line service delivery, you also benefit from our experiential knowledge, without having to have put the time in yourself.
Our training program includes:
- Pre-opening planning and business development;
- Initial franchise training;
- On-site support;
- Team development and continuing education;
- Back-office training and support;
- Marketing, sales, and advertising training, and much more.
If you’re thinking of starting a non medical home care business with no experience, contact Executive Care, where many of our most successful franchisees entered into the system with no prior training or experience.
You can find further information about our support and training systems at https://executivehomecarefranchise.com/training-and-support/
Robinson, P. B., & Sexton, E. A. (1994). The effect of education and experience on self-employment success. Journal of Business Venturing, 9(2), 141-156.