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A Sample Senior Home Care Business Plan Template

Are you about starting a senior care business? If YES, here is a complete sample senior home care business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a senior home care center. We also took it further by analyzing and drafting a sample senior home care marketing plan template backed up by actionable guerrilla marketing ideas for senior home care businesses. So let’s proceed to the business planning section.

Why Start a Senior Home Care Business?

Taking care of senior citizens in the United States, Canada and in most developed countries of the world is indeed brisk business. As people grow old, they ensure that they put plans in place that will make them live the rest of their life with fully support from professionals who are trained to take care of elderly people.

Taking care of senior citizens involves, housing them and helping them handle basic day to day task like bathing, taking their drugs, exercising, cleaning them up amongst other tasks. There are people that are gifted with the ability to take care of senior citizens. If you thing that you have flair for taking care of the elderly, then you should consider starting a senior care home in your city.

If you have decided to start a senior care home in your city or county, then you should ensure that you carry out thorough feasibility studies and also market survey. This will enable you properly identify locations with the right demographic composition (location with good numbers of retired and elderly people) and then hit the ground running.

Business plan is yet another very important business document that you should not take for granted in the bid to launching your own business. Below is a sample senior care home business plan template that can help you to successfully write your own with little or no hassle.

A Sample Senior Home Care Business Plan Template

  • Industry Overview

Operators in the industry senior care franchise industry largely provide residential and personal-care services for elderly individuals (senior citizens) who are unable to fully care for themselves due to old age or one form of age related disability.

Demographic trends have supported growing demand for residential senior care franchises, and the industry has experienced strong growth over the last half a decade. This growth is expected to improve, driven by an improving economic environment and the continued aging of the population, which will expand the industry’s markets.

The law in the United States and in some countries states that before a senior care facility can commence operations, there should be at least six residents and at least one trained caregiver there 24 hours a day and 7 days a week. So also, a standard senior care facility is expected to have a house manager, night manager, weekend activity coordinator, and 2 or more caregivers depending on the size of the facility.

The Residential Senior Care Franchises Industry is indeed a very large industry and pretty much thriving in developed countries such as United States of America, Canada, United Kingdom, Germany, Australia and Italy et al.

Statistics has it that in the United States of America alone, there are about 1,467 licensed and registered Senior Care Facilities scattered all across the United States responsible for employing about 106,609 employees and the industry rakes in a whooping sum of $3bn annually with an annual growth rate projected at 11.7 percent between 2011 and 2016. Beehive Homes can comfortably boast to won the greater percentage of the available market in this industry.

A recent report published by IBISWORLD shows that the Residential Senior Care Franchises industry has boomed during the five years to 2015, driven by the aging population and a growing need for dementia care.

The report further stated that, the industry, which provides residential and personal-care services for elderly individuals who are unable to fully care for themselves, has been increasingly orienting itself toward the provision of dementia care as the population continues to age; this can include medical and social assistance with the activities of daily living, such as bathing, eating and dressing.

Although franchises that primarily provide inpatient nursing and rehabilitation services are excluded from this industry, many facilities provide some nursing care and other medical supervision.

Over and above, the senior care line of business in developed countries is still enjoying good patronage particularly if they are well positioned and if they know how to reach out to their target market; the aging population and those who can’t take care of themselves.

Senior Home Care Business Plan – Executive Summary

Mary &Joseph® Senior Care Home, LLC is a standard and licensed senior care facility that will be located in the heart of Montgomery – Alabama in a neatly renovated and secured spacious housing facility. Our senior care facility is specifically designed and equipped with the needed accommodation facilities / gadgets to give comfort and security to all our residence irrespective of the religious affiliations, their race, and health condition. We are set to take care of senior citizens who can’t take care of themselves.

Mary & Joseph® Senior Care Home, LLC is a family owned and managed business that believe in the passionate pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to venture into the hospitability industry by establishing our own senior care facility (assisted living facility business).

We are certain that our values will help us drive the business to enviable heights and also help us attract the numbers of residents that will make our facility fully occupied year in year out.

Despite the fact that we are a senior care facility, we are going to be a health conscious and customer-centric with a service culture that will be deeply rooted in the fabric of our organizational structure and indeed at all levels of the organization.

With that, we know that we will be able to consistently achieve our set business goals, increase our profitability and reinforce our positive long-term relationships with our clientele, partners (vendors), and all our employees as well.

Our accommodation facility will be decorated in an exquisite and elegant facade, so much so that it will be a conspicuous edifice in the city where it is located. Mary & Joseph® Senior Care Home, LLC will provide a conducive home for our residents.

We will engage in services that will help residents in our facility complete daily basic and simple tasks, such as taking medication or bathing, making dinners, having conversations, making appointments, and getting to work or a day service, budget their personal allowance, select photos for their room or album, meet neighbors and “carry out civic duties,” go grocery shopping, eat in restaurants, make emergency calls or inquiries, and exercise regularly amongst other activities.

Mary & Joseph® Senior Care Home, LLC will be equipped with everything that will make life comfortable for the elderly – senior citizens. We will as build a fitness room and library et al. We will also install a free Wi-Fi that will enable our residents and guests surf the internet with their laptop in the room free of charge, and there will be wireless access in all the public area within the lodging facility.

Mary & Joseph® Senior Care Home, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Mary & Joseph® Senior Care Home, LLC is a family business that is owned and managed by Cloe Hayward and her immediate family members. Mrs. Cloe Hayward is a licensed non – medical home care administrator and social health worker with well over 10 years of hands on experience working for leading brand in the industry. She has a Master’s Degree in Public Health and she is truly passionate when it comes to taking care of the aging population and people with one form of disability or the other.

  • Our Services

Mary & Joseph® Senior Care Home, LLC is set to operate a standard senior care facility in Montgomery – Alabama. The fact that we want to become a force to reckon with in the Senior Care Facility industry means that we will provide our resident a conducive and highly secured accommodation.

In all that we do, we will ensure that our residents are satisfied and are willing to recommend our facility to their family members and friends. We are in the senior care business to deliver excellent services and to make profits and we are willing to go the extra mile within the law of the United States to achieve our business goals, aims and objectives.

Mary & Joseph® Senior Care Home, LLC will provide the following services to her clients;

  • Alzheimer’s disease and dementia care
  • Respite care
  • End-of-life care
  • Interactive care and other services
  • Providing room and board
  • Nursing and other supervision
  • Assistance in daily living
  • Housekeeping services

Our Vision Statement

Our vision is to become the number one choice when it comes to senior care facility in the whole of Alabama and also to be amongst the top 10 senior care facilities in the United States of America within the first 10 years of establishing the business.

  • Our Mission Statement

Our mission is to build a senior care facility that will meet and surpass the needs of all the residents of our facility; we want build a profitable and successfully business brand that in the nearest future will sell franchise all across the United States and Canada.

  • Our Business Structure

Mary & Joseph® Senior Care Home, LLC is a business that will be built on a solid foundation. From the outset, we have decided to recruit only qualified professionals (non – medical home care administrator, nurse’s aides, medication management counselors, county aging worker, rehabilitation counselors, and home caregivers) to man various job positions in our organization.

We are quite aware of the rules and regulations governing the senior care facility industry which is why we decided to recruit only well experienced and qualified employees as foundational staff of the organization. We hope to leverage on their expertise to build our business brand to be well accepted in Minnesota and the whole of the United States.

When hiring, we will look out for applicants that are not just qualified and experienced, but homely, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more. These are the positions that will be available at Mary & Joseph® Senior Care Home, LLC;

  • Chief Executive Officer
  • Facility Administrator (Human Resources and Admin Manager)
  • Nurse’s Aides
  • Home Caregivers /County Aging Workers
  • Sales and Marketing Executive
  • Accounting Officer
  • Security Officer
  • Cleaners

Roles and Responsibilities

Chief Executive Officer:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Reports to the board.

Facility Administrator (Admin and HR Manager)

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Design job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Oversees the smooth running of the daily home activities.

Nurse’s Aides

  • Responsible for managing our residents (senior citizens) in their various houses
  • Handles personal injury case management
  • Responsible for offering home medication management services.

Marketing and Sales Executive

  • Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Documents all customer contact and information
  • Represents Mary & Joseph® Senior Care Home, LLC in strategic meetings
  • Helps to increase sales and growth for Mary & Joseph® Senior Care Home, LLC.

Accountant / Cashier

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for the organization
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for Mary & Joseph® Senior Care Home, LLC
  • Serves as internal auditor for Mary & Joseph® Senior Care Home, LLC.

Security Officers

  • Ensures that the facility is secured at all time
  • Controls traffic and organize parking
  • Gives security tips to staff members from time to time
  • Patrols around the building on a 24 hours’ basis
  • Submits security reports weekly
  • Any other duty as assigned by the facility administrator

Cleaners:

  • Responsible for cleaning the facility at all times
  • Ensures that toiletries and supplies don’t run out of stock
  • Assists our residents when they need to take their bath and carry out other household tasks
  • Cleans both the interior and exterior of the facility
  • Handles any other duty as assigned by the facility manager

Senior Home Care Business Plan – SWOT Analysis

Mary & Joseph® Senior Care Home, LLC is set to become one of the leading senior care facilities in Montgomery – Alabama which is why we are willing to take our time to cross every ‘T’ and dot every ‘I’ as it relates to our business. We want our senior care facility to be the number one choice of all senior residents of Montgomery and other cities in Alabama.

We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process as it relates to setting up a business.

Even though our Chief Executive Officer (owner) has a robust experience in social work and taking care of people with disability and the aging population, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to indeed become a leader in the senior care facility industry.

This is the summary of the SWOT analysis that was conducted for Mary & Joseph® Senior Care Home, LLC;

  • Strength:

Our strength lies in the fact that we have a team of well qualified professionals manning various job positions in our organization. As a matter of fact, they are some of the best hands in the whole of Montgomery – Alabama and they are professionals who have what it takes to grow business from scratch to profitability in record time.

Our location, the business model we will be operating on, well equipped facility and our excellent customer service culture will definitely count as a strong strength for us.

  • Weakness:

Mary & Joseph® Senior Care Home, LLC is a new business which is owned by an individual (family), and we may not have the financial muscle to sustain the kind of publicity we want to give our business and also to attract some of the highly – experienced hands in the senior care facility industry.

  • Opportunities:

The opportunities that are available to senior care facilities are unlimited considering the fact that we have growing aging population in the United States and we are going to position our business to make the best out of the opportunities that will be available to us in Montgomery – Alabama.

  • Threat:

Just like any other business, one of the major threats that we are likely going to face are economic downturn and unfavorable government policies. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new and bigger / well established senior care facility, non – medical home care facility or group home facility brand in same location where ours is located.

Senior Home Care Business Plan – MARKET ANALYSIS

  • Market Trends

Because of the essential nature of services provided by businesses such as senior care homes, non – medical home care facilities and group homes et al, the industry was able to grow even in the face of economic stagnation. In addition, the continued growth of the aging population and people with one form of disability or the other has stimulated demand for industry services.

Since the aging population is more prone to injury and illness, and therefore requires more assistance with daily activities, the larger share of senior adults has propelled demand for senior care homes, non – medical home care facilities and of course nursing care facilities. Despite favorable demographic trends, unsatisfactory government funding has hindered industry growth.

The trend in the industry is that, players in the industry are now flexible enough to adjust their services and facilities to attract more knowledgeable and educated residents by incorporating more technology and adapting to new markets. It is now trendier to find senior care facilities with internet facility and Wi-Fi et al.

Another trend in the industry is that, in other to make senior care facility, non – medical home care facilities and group home facilities more affordable for low income individuals, many states in the United States of America are enacting changes to the portion of Medicaid which can be applied to senior care facilities and group Home Facilities.

Before now, only individuals living in nursing homes were typically provided Medicaid assistance, but in recent time, there are now a growing number of states that have recognized the importance of offering Medicaid dollars to senior citizens living in senior care facilities.

No doubt the Senior Care Facility industry will continue to grow and become more profitable because the aging baby-boomer generation in Unites States is expected to drive increasing demand for these specialized services and care for the elderly.

  • Our Target Market

Mary & Joseph® Senior Care Home, LLC is in business to service the aging population / senior citizens in Montgomery – Alabama and other cities in Alabama. We will ensure that we target both self – paying customers (who do not have Medicaid cover), and those who have Medicaid cover.

Generally, those who need the services of non – medical home care facilities are the aging population, people with one form of disabilities or the other and perhaps those who need daily help.

The fact that we are going to open our doors to a wide range of customers does not in any way stop us from abiding by the rules and regulations governing the senior care facility industry in the United States. Our employees are well – trained to effectively service our customers and give them value for their monies.

Our customers can be categorized into the following;

  • The aging population / senior citizens
  • The aged who might suffer from severe joint pains and every other age categories that fall under the conditions listed by the physician as people who do not necessarily need the services health workers to survive or carry out their daily task.

Our Competitive Advantage

Aside from the competitions that exist amongst players in the senior care facility line of business, they also compete against other home healthcare services providers such as non – medical home care facilities, assisted living facilities and nursing homes et al.

To be highly competitive in the senior care facility industry means that you should be able to secure a conducive and secured facility, deliver consistent quality service and should be able to meet the expectations of the children / family members paying for their loved elderly parents and senior citizens with disabilities in your facility.

Mary & Joseph® Senior Care Home, LLC is coming into the market well prepared to favorably compete in the industry. Our facility is well positioned (centrally positioned) and visible, we have good security and the right ambience for elderly people and senior citizens with one form of disability or the other.

Our employees are well groomed in all aspect of senior care facility services and all our employees are trained to provide customized customer service to all our residents. Our services will be carried out by highly trained professional nurse’s aides, county aging workers and home caregivers who know what it takes to give our highly – esteemed residents value for their money.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups senior care facility business and other related businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

Senior Home Care Business Plan – SALES AND MARKETING STRATEGY

  • Sources of Income

Mary & Joseph® Senior Care Home, LLC will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry.

We will generate income by providing a conducive home for our residents (senior citizens); we will engage in services that will help our residents complete daily basic and simple tasks, such as taking medication or bathing, making dinners, having conversations, making appointments, and getting to work or a day service, budget their personal allowance, select photos for their room or album, meet neighbors and “carry out civic duties,” go grocery shopping, eat in restaurants, make emergency calls or inquiries, and exercise regularly amongst other activities.

These are the services we will offer to generate income for the business;

  • Alzheimer’s disease and dementia care
  • Respite care
  • End-of-life care
  • Interactive care and other services
  • Providing room and board
  • Nursing and other supervision
  • Assistance in daily living
  • Housekeeping services

Sales Forecast

One thing is certain, there would always be elderly people and senior citizens with one form of disability or the other who would need the services of senior care facility.

We are well positioned to take on the available market in Montgomery – Alabama and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our senior care facility business and our residents’ base.

We have been able to critically examine the senior scare facility services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Montgomery – Alabama.

Below are the sales projection for Mary & Joseph® Senior Care Home, LLC, it is based on the location of our business and of course the wide range of related services that we will be offering;

  • First Fiscal Year-: $100,000 (From Self – Pay Clients); $250,000 (From Medicaid Covers)
  • Second Fiscal Year-: $250,000 (From Self – Pay Clients); $500,000 (From Medicaid Covers)
  • Third Fiscal Year-: $500,000 (From Self – Pay Clients); $1,500,000 (From Medicaid Cover)

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

The marketing and sales strategy of Mary & Joseph® Senior Care Home, LLC will be based on generating long-term personalized relationships with our residents. In order to achieve that, we will ensure that we offer top notch all – round senior care facility services at affordable prices compare to what is obtainable in Montgomery – Alabama and other state in the US.

All our employees will be well trained and equipped to provide excellent and knowledgeable services as it relates to our business offerings. We know that if we are consistent with offering high quality senior care service delivery and excellent customer service, we will increase the number of our residents by more than 25 percent for the first year and then more than 40 percent in subsequent years.

Before choosing a location for Mary & Joseph® Senior Care Home, LLC, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residents of Montgomery and other cities in Alabama. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the senior care facility industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Montgomery – Alabama.

In summary, Mary & Joseph® Senior Care Home, LLC will adopt the following sales and marketing approach to win customers over;

  • Introduce our business by sending introductory letters to residents, clubs for elderly and senior citizens with disability and other stake holders in Montgomery – Alabama
  • Advertise our business in community based newspapers, local TV and local radio stations
  • List our business on yellow pages’ ads (local directories)
  • Leverage on the internet to promote our business
  • Engage in direct marketing
  • Leverage on word of mouth marketing (referrals)
  • Enter into business partnership with hospitals, government agencies and health insurance companies to canvas for clients via referrals.
  • Attend health care related exhibitions / expos to market our services.

Senior Home Care Business Plan – Publicity and Advertising Strategy

We are in the senior care facility business to become one of the market leaders and also to maximize profits hence we are going to explore all available conventional and non – conventional means to promote Mary & Joseph® Senior Care Home, LLC.

Mary & Joseph® Senior Care Home, LLC has a long term plan of building senior care facilities in key cities all across the United States of America which is why we will deliberately build our brand to be well accepted in Montgomery – Alabama before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning residents (customers) over but to effectively communicate our brand to the general public. Here are the platforms we intend leveraging on to promote and advertise Mary & Joseph® Senior Care Home, LLC;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community programs that appeals to the aging population and senior citizens with disability
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
  • Install our Bill Boards on strategic locations all around Montgomery – Alabama
  • Engage in road show from time to time in location with growing aging population and senior citizens with disability
  • Distribute our fliers and handbills in target areas with high concentration of aging population and senior citizens with disabilities
  • Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

Our Pricing Strategy

Mary & Joseph® Senior Care Home, LLC will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in the United States of America.

On the average, senior care facilities and group home facility service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment. In view of that, it is easier for senior care service providers to bill their clients based in their discretions.

Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal residents especially when they refer clients to us.

  • Payment Options

The payment policy adopted by Mary & Joseph® Senior Care Home, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Mary & Joseph® Senior Care Home, LLC will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards / Point of Sale Machines (POS Machines)
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.

  • Start – Up Expenditure (Budget)

If you are looking towards starting a senior care facility business, then you should be ready to go all out to ensure that you raise enough capital to cover some of the basic expenditure that you are going to incur. The truth is that starting this type of business does not come cheap.

You would need money to secure a standard residential facility big enough to accommodate the number of people you plan accommodating per time, you will also need money to acquire supplies and to pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay take of the daily running cost and overhead.

The items listed below are the basics that we would need when starting our senior care facility business in the United States;

  • The total fee for registering the business in the United States – $750.
  • Legal expenses for obtaining licenses and permits – $1,500.
  • Marketing promotion expenses for the grand opening of Mary & Joseph® Senior Care Home, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
  • The cost for hiring Consultant – $2,500.
  • The cost for the purchase of insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,400.
  • The cost for leasing a standard and secured facility in Montgomery – Alabama for 2 years – $250,000
  • The cost for facility remodeling – $50,000.
  • Other start-up expenses including stationery ($500) and phone and utility deposits – ($2,500).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
  • The cost for start-up inventory (stocking with a wide range of products such as toiletries, food stuffs and drugs et al) – $50,000
  • Cost for the purchase of storage hardware (bins, rack, shelves,) – $3,720
  • The cost for the purchase of furniture and gadgets (Beds, Computers, Printers, Telephone, TVs, tables and chairs et al): $4,000.
  • The cost of Launching our official website: $700
  • Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up our senior care facility in Montgomery – Alabama. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Fund / Startup Capital for Mary & Joseph® Senior Care Home, LLC

Mary & Joseph® Senior Care Home, LLC is a family business that is solely owned and financed by Mrs. Cole Hayward and her immediate family members. We do not intend to welcome any external business partners, which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas Mary & Joseph® Senior Care Home; LLC intends to generate our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $550,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

Senior Home Care Business Plan – Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Mary & Joseph® Senior Care Home, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our senior care services a little bit cheaper than what is obtainable in the industry and we are well prepared to survive on lower profit margin for a while.

Mary & Joseph® Senior Care Home, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of facility and remodeling the facility: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of Medical Equipment and vans et al: In Progress
  • Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party / launching party planning: In Progress
  • Establishing business relationship with clubs for the elderly, hospitals, government agencies and health insurance companies in the United States of America: In Progress
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