A Senior Placement Agency is a type of business that specializes in helping elderly individuals and their families find suitable housing and care options.
As seniors age, they may require assistance with daily activities or may need to transition to a more supportive living environment such as assisted living facilities, nursing homes, or retirement communities. A Senior Placement Agency acts as a middleman between seniors and the various senior living options available.
They typically have a network of relationships with different senior living communities and facilities. The agency’s primary role is to assess the needs and preferences of the senior, evaluate the available options, and then recommend appropriate housing and care solutions.
Steps to Write a Senior Placement Agency Business Plan
Table of Content
Salome Lukes® Senior Placement Agency, LLC is a professional Senior Placement Agency based in Ann Arbor, Michigan that is dedicated to assisting elderly individuals and their families in finding the most suitable housing and care solutions.
With the growing aging population and the complex array of senior living options available, our agency aims to provide expert guidance, personalized support, and a seamless transition process. Salome Lukes® Senior Placement Agency, LLC is poised to become a leader in the Senior Placement Agency industry.
With our commitment to excellence, dedication to seniors’ well-being, and streamlined services, we are confident in our ability to meet the increasing demand for senior housing solutions and make a positive impact on the lives of seniors and their families.
a. Our Products and Services
Salome Lukes® Senior Placement Agency, LLC will offer the following services;
- Conducting an assessment of the senior’s physical, medical, social, and emotional needs to determine the level of care required.
- Providing guidance and advice to the seniors and their family members about the available senior living options, including assisted living facilities, memory care units, independent living communities, or home care services.
- Identifying and recommending suitable senior living communities based on the assessed needs and preferences of the senior, including factors such as location, cost, amenities, and level of care provided.
- Scheduling visits and tours to the recommended senior living communities so that the seniors and their families can personally evaluate the environment, amenities, and services provided.
- Assisting with the logistics and paperwork involved in moving to a new senior living facility, including coordinating with the facility, arranging for transportation, and ensuring a smooth transition.
- Acting as an advocate for the senior and their family throughout the placement process, ensuring their needs and preferences are met, and addressing any concerns or questions that may arise.
b. Nature of the Business
Our senior placement agency business will operate the business-to-consumer and business-to-business model.
c. The Industry
Salome Lukes® Senior Placement Agency, LLC will operate in the senior care or eldercare industry.
d. Mission Statement
At Salome Lukes® Senior Placement Agency, LLC, our mission is to empower and support seniors and their families in finding the perfect living arrangements that enhance their quality of life. We are dedicated to providing personalized guidance, expert advice, and compassionate care throughout the senior placement process.
e. Vision Statement
Our vision at Salome Lukes® Senior Placement Agency, LLC is to be the leading senior placement agency, recognized for our exceptional service, integrity, and commitment to seniors’ welfare.
We strive to be a trusted resource, providing comprehensive solutions that alleviate the stress and complexity of finding suitable senior living options. We envision a future where every senior can enjoy a fulfilling and purposeful life in a community that promotes independence, respect, and dignity.
f. Our Tagline (Slogan)
Salome Lukes® Senior Placement Agency, LLC – Ensure seniors receive the highest level of comfort, safety, and well-being in a nurturing environment that meets their unique needs and preferences!
g. Legal Structure of the Business (LLC, C Corp, S Corp, LLP)
Salome Lukes® Senior Placement Agency, LLC will be formed as a Limited Liability Company (LLC). The reason why we are forming an LLC is to protect our personal assets by limiting the liability to the resources of the business itself. The LLC will protect our CEO’s personal assets from claims against the business, including lawsuits.
h. Our Organizational Structure
- Senior Care Advisor/Placement Specialist
- Marketing and Communications Manager
- Operations Manager
- Administrative Assistant
- Client Services Coordinator.
i. Ownership /Shareholder Structure and Board Members
- Salome Luke (Owner and Chairman/Chief Executive Officer) 52 Percent Shares
- Cynthia Lawrence (Board Member) 18 Percent Shares
- Ethel Hodgson (Board Member) 10 Percent Shares
- Bolton Wisdom (Board Member) 10 Percent Shares
- Debbie White (Board Member and Sectary) 10 Percent Shares.
- The agency has a team of experienced senior care advisors who possess in-depth knowledge of the senior living industry, regulations, and available resources.
- The agency has established strong relationships with a wide range of senior living communities, healthcare providers, and referral sources, allowing for a diverse selection of options for clients.
- The agency emphasizes personalized care, taking into account the unique needs and preferences of each senior and providing tailored guidance throughout the placement process.
- The agency has built a solid reputation for professionalism, integrity, and compassion, earning the trust of clients, families, and partners in the senior care industry.
- The agency may operate in a specific region or city, which could restrict its reach and potential client base.
- Limited financial resources and staffing may hinder the agency’s ability to scale operations and meet increasing demand.
- The agency heavily relies on referrals from healthcare professionals, senior communities, and word-of-mouth, which can pose challenges in generating consistent leads.
- The increasing number of older adults presents a significant opportunity for the agency to expand its services and cater to a larger market.
- Embracing technological advancements, such as online platforms, virtual tours, and remote consultations, can broaden the agency’s reach and enhance customer experience.
- Partnering with healthcare organizations and providers can strengthen the agency’s referral network and streamline the placement process.
i. How Big is the Industry?
The senior placement agency industry is considered a big industry. Available data shows that the senior care industry generates $300 billion a year.
ii. Is the Industry Growing or Declining?
The senior placement agency industry has been growing steadily in recent years. The global population is aging, and this trend is particularly pronounced in developed countries like the United States. As the number of older adults increases, the demand for senior living options and placement services also rises.
Aside from that, there is a growing awareness among seniors and their families about the benefits of using placement agencies. They recognize the value of working with professionals who can simplify the process, save time, and provide specialized knowledge.
iii. What are the Future Trends in the Industry
Technology will play an increasingly important role in the senior placement process. Virtual tours, online platforms for information and communication, and remote consultations will become more prevalent, allowing agencies to reach a wider audience and provide more convenient services.
Senior placement agencies will adopt a more holistic approach to senior care, focusing not only on housing placement but also on addressing the comprehensive needs of seniors. This may include coordinating healthcare services, social activities, and support systems to enhance the overall well-being of older adults.
As the industry grows, we may see the emergence of specialized Senior Placement Agencies that cater to specific niches or demographics. This could include agencies focused on specific health conditions, cultural preferences, or lifestyle choices, providing tailored solutions to meet the unique needs of these populations.
iv. Are There Existing Niches in the Industry?
No, there are no existing niches when it comes to senior placement agency business.
v. Can You Sell a Franchise of Your Business in the Future?
Salome Lukes® Senior Placement Agency, LLC has plans to sell franchises in the nearest future.
- The senior care industry is competitive, with other placement agencies and online directories offering similar services.
- Changes in regulations and compliance requirements within the senior living industry can impact the agency’s operations and necessitate ongoing adaptation.
- Economic downturns or fluctuations in the housing market may affect the affordability and demand for senior living options.
i. Who are the Major Competitors?
- A Place for Mom
- Senior Care Authority
- Caring Transitions
- Oasis Senior Advisors
- Senior Living Experts
- Senior Helpers
- Right at Home
- Senior Placement Services
- Elder Placement Professionals
- Elder Care Alliance
- Always Best Care Senior Services
- Assisted Transition
- Senior Living Consultants
- Senior Living Alternatives
- Visiting Angels
- Elder Care Resources
- Senior Solutions Consulting
- Assisted Living Locators.
ii. Is There a Franchise for Senior Placement Agency Business?
Yes, there are franchise opportunities for senior placement agency business, and here are some of them:
- A Place at Home
- Always Best Care
- Senior Care Authority
- Oasis Senior Advisors
- Senior Care Consulting
- Assisted Transition
- Visiting Angels
- Right at Home
- Homewatch CareGivers.
iii. Are There Policies, Regulations, or Zoning Laws Affecting Senior Placement Agency Business in the United States of America?
Yes, there are policies, regulations, and zoning laws that can affect the operation of Senior Placement Agency businesses in the United States. The specific regulations may vary by state and local jurisdiction.
Some states require Senior Placement Agencies to obtain specific licenses or certifications to operate legally. These licenses may vary depending on the services provided, such as placement assistance, care coordination, or healthcare-related services.
Senior Placement Agencies often work closely with senior living communities, such as assisted living facilities or nursing homes.
These communities are subject to regulations and licensing requirements that dictate their operations, standards of care, safety protocols, and resident rights. Agencies must ensure that the communities they recommend comply with relevant regulations.
Senior Placement Agencies may be subject to health and safety regulations to ensure the well-being of the seniors they serve. These regulations can include requirements for background checks on employees, proper training and qualifications of staff, and adherence to infection control protocols.
Agencies must comply with privacy and confidentiality laws, such as the Health Insurance Portability and Accountability Act (HIPAA) when handling clients’ personal health information.
a. Who is your Target Audience?
i. Age Range
Our target market comprises adults above 65 years old.
ii. Level of Educational
We don’t have any restrictions on the level of education of our clients.
iii. Income Level
There is no cap on the income level of those we are looking to work with.
There is no restriction when it comes to the ethnicity of the people we are looking forward to working with
There is no restriction when it comes to the language spoken by the people we are looking forward to working with.
vi. Geographical Location
We are open to doing business with anybody from any geographical location.
Salome Lukes® Senior Placement Agency, LLC will not restrict any client from patronizing our services because of their lifestyle, culture, or race.
b. Advertising and Promotion Strategies
- Content marketing
- Deliberately Brand Our Facility
- Email marketing
- Events and sponsorships
- Pay-per-click (PPC) advertising
- Referral marketing
- Search engine optimization (SEO).
i. Traditional Marketing Strategies
- Broadcast Marketing -Television & Radio Channels.
- Marketing through Direct Mail.
- Print Media Marketing – Newspapers & Magazines.
- Out-of-home (OOH) advertising – Public Transit like Buses and Trains, Billboards, Street shows, and Cabs.
- Leverage direct sales, direct mail (postcards, brochures, letters, fliers), tradeshows, print advertising (magazines, newspapers, coupon books, billboards), referral (also known as word-of-mouth marketing), radio, and television.
ii. Digital Marketing Strategies
- Affiliate Marketing
- Content Marketing.
- Email Marketing.
- Influencer Marketing.
- Mobile Marketing.
- Social Media Marketing Platforms.
- Search Engine Optimization (SEO) Marketing.
iii. Social Media Marketing Plan
- Create a personalized experience for our customers.
- Create an efficient content marketing strategy.
- Create a community for our target market and potential target market.
- Create profiles on relevant social media channels.
- Gear up our profiles with a diverse content strategy.
- Start using chatbots.
- Run cross-channel campaigns.
- Use brand advocates.
c. Pricing Strategy
Salome Lukes® Senior Placement Agency, LLC’s pricing strategy should take into account factors such as the cost of value of service offering, and the level of competition in the market. We will also analyze the competition’s pricing and services to ensure the business remains competitive while maintaining profitability. Here is our pricing strategy:
- Tiered Pricing
- All-Inclusive Pricing
- Ala Carte Pricing
- Move-In Specials
- Long-Term Contracts
- Medicaid and Medicare Programs
- Private Pay.
Sales and Distribution Plan
a. Sales Channels
Our sales channels will include both direct and indirect channels and they are:
- Direct sales: This involves the senior placement agency business’s sales team directly reaching out to potential clients, such as small and medium-sized healthcare-related businesses, through email, phone, or in-person meetings.
- Referral sales: This involves leveraging existing clients, business partners, and other industry contacts to refer potential clients to the senior placement agency business.
- Online sales: This involves using digital channels such as the company’s website, social media, and online advertising to generate leads and attract potential clients.
- Broker or agent channels: This involves working with brokers or agents who act as intermediaries between the senior placement agency business and potential clients, referring clients to the company in exchange for a commission.
- Partner channels: This involves working with strategic partners, such as doctors, hospitals, and other healthcare service providers, to offer factoring services to their clients.
b. Inventory Strategy
Our inventory strategy will involve managing and tracking the availability of essential office supplies. The strategy will also involve setting par levels for inventory, monitoring usage, and ordering supplies in advance to ensure that there are no shortages. We will also implement software systems to automate inventory management and improve efficiency.
c. Payment Options for Customers
Here are the payment options that Salome Lukes® Senior Placement Agency, LLC will make available to her clients;
- Apple Pay and Google Wallet
- Gift cards and store credit
- Credit and debit cards
- Installment payments
- Cash on service delivery.
d. Return Policy, Incentives, and Guarantees
Return Policy: We strive to ensure that our clients and their families are satisfied with our services throughout the placement process. If a client has concerns or issues, we are committed to addressing them promptly and working towards a resolution that meets their needs and expectations.
Incentives: We offer complimentary initial consultations to prospective clients, allowing them to discuss their requirements, ask questions, and explore our services without any financial commitment.
Guarantees: We strive to ensure that our clients and their families are satisfied with our services. If a client is not satisfied with the level of service or the placement options provided, we will work diligently to address their concerns and find a resolution that meets their expectations.
We respect the privacy and confidentiality of our clients and their personal information. We have strict protocols and safeguards in place to protect sensitive data and maintain confidentiality throughout the placement process.
e. Customer Support Strategy
Providing exceptional customer support is crucial for the success of our senior placement agency business. Here are some customer support strategies that we will adopt:
- Provide multiple communication channels for residents and their families
- Offer personalized attention
- Set clear expectations.
- Maintain transparency.
- Offer value-added services.
By implementing these strategies, our senior placement agency business can provide excellent customer support and build long-term relationships with all our clients (residents).
Here is a sample outline of the operational plan for our senior placement agency:
- Service Offering
- Staffing and Expertise
- Client Acquisition and Referral Network
- Client Assessment and Matching
- Care Coordination and Transition Support
- Technology and Systems
- Quality Assurance and Continuous Improvement
- Financial Planning and Management.
a. What Happens During a Typical Day at a Senior Placement Agency Business?
- A typical day at a senior placement agency business involves conducting consultations with clients and their families to gather information about their needs, preferences, and care requirements.
- Research and assess different senior living communities, including assisted living facilities, independent living communities, memory care facilities, and others.
- Assist clients in completing necessary paperwork, applications, and contracts for senior living communities.
- Follow up with clients after the placement to ensure their satisfaction and address any post-transition needs or issues.
- Network and build relationships with healthcare professionals, social workers, and other organizations in the senior care industry.
- Handle administrative tasks, such as managing client databases, scheduling appointments, and maintaining accurate records.
- Participate in training programs or workshops to enhance knowledge and skills in areas such as communication, customer service, and elder care.
b. Production Process
There is no production process when it comes to senior placement agency business.
c. Service Procedure
The service procedure for a senior placement agency can be dynamic and may vary based on the agency’s size, client load, and specific client needs. The focus is always on providing personalized guidance, support, and advocacy for seniors and their families throughout the placement process.
d. The Supply Chain
A supply chain is not applicable to a senior placement agency business.
e. Sources of Income
At Salome Lukes® Senior Placement Agency, LLC we will make money from the fees charged for helping elderly individuals and their families find suitable housing and care options.
a. Amount Needed to Start Your Senior Placement Agency Business?
Salome Lukes® Senior Placement Agency, LLC would need an estimate of $120,000 to successfully set up our senior placement agency business in the United States of America. Please note that this amount includes the salaries of all our staff for the first month of operation.
b. What are the Costs Involved?
- Business Registration Fees – $750.
- Legal expenses for obtaining licenses and permits – $1,300.
- Marketing, Branding, and Promotions – $1,000.
- Business Consultant Fee – $2,500.
- Insurance – $5,400.
- Rent/Lease – $45,000.
- Other start-up expenses include commercial satellite TV subscriptions, stationery ($500), and phone and utility deposits ($2,800).
- Operational Cost (salaries of employees, payments of bills et al) – $30,000
- Start-up Inventory – $25,000
- Store Equipment (cash register, security, ventilation, signage) – $4,750
- Furnishing and Equipping – $15,000
- Website: $600
- Opening party: $4,000
- Miscellaneous: $5,000
c. Do You Need to Build a Facility? If YES, How Much will it cost?
Salome Lukes® Senior Placement Agency, LLC will not build a new facility for our senior placement agency business; we intend to start with a long-term lease and after 5 years, we will start the process of acquiring our own facility.
d. What are the Ongoing Expenses for Running a Senior Placement Agency Business?
- Staffing costs (salaries, benefits, and training for staff)
- Facility expenses (rent, utilities, property taxes, maintenance, and insurance)
- Marketing and advertising
- Administrative expenses (office supplies, legal fees, accounting services, and software or technology systems)
- Transportation and travel expenses
- Compliance expenses.
e. What is the Average Salary of Staff?
- Founder/CEO – $55,000 per year
- Senior Care Advisor/Placement Specialist – $47,000 per year
- Marketing and Communications Manager – $45,000 per year
- Operations Manager – $40,000 per year
- Administrative Assistant – $35,000 per year
- Client Services Coordinator – $32,000 per year.
f. How Do You Get Funding to Start a Senior Placement Agency Business?
- Raising money from personal savings and sale of personal stocks and properties
- Raising money from investors and business partners
- Sell shares to interested investors
- Applying for a loan from your bank/banks
- Pitching your business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
- Source for soft loans from your family members and friends.
a. How Much Should You Charge for Your Product/Service?
Salome Lukes® Senior Placement Agency, LLC will charge based on what is obtainable in the United States. Please note that the fees charged by senior placement agency businesses in the US can vary depending on various factors, including the location, services provided, level of support, and the specific needs of the client.
The fees can be structured in different ways, such as one-time placement fees, monthly retainers, or a combination of both.
b. Sales Forecast?
- First Fiscal Year (FY1): $260,000
- Second Fiscal Year (FY2): $400,000
- Third Fiscal Year (FY3): $460,000
c. Estimated Profit You Will Make a Year?
- First Fiscal Year (FY1) (Profit After Tax): 25%
- Second Fiscal Year (FY2) (Profit After Tax): 30%
- Third Fiscal Year (FY3) (Profit After Tax): 35%
d. Profit Margin of a Senior Placement Agency Business
The ideal profit margin we hope to make at Salome Lukes® Senior Placement Agency, LLC will be between 25 and 35 percent on each job carried out irrespective of the distance covered.
a. How do you intend to grow and expand? By opening more retail outlets/offices or selling a franchise?
Salome Lukes® Senior Placement Agency, LLC will grow our senior placement agency business by first opening other offices in key cities in the United States of America within the first five years of establishing the business and then starting a franchise in the nearest future.
b. Where do you intend to expand to and why?
Salome Lukes® Senior Placement Agency, LLC plan to expand to;
- Sarasota, Florida
- Asheville, North Carolina
- Scottsdale, Arizona
- Austin, Texas
- Charleston, South Carolina
- Boise, Idaho
- Naples, Florida
- Denver, Colorado
- Ann Arbor, Michigan
- Portland, Oregon.
The reason we intend to expand to these locations is the fact that available statistics show that the cities listed above have a growing elderly population and a high demand for senior care services, making them potentially attractive markets for senior placement agency businesses.
Salome Lukes® Senior Placement Agency, LLC’s founder intends to exit the business through a merger and acquisition. We want to merge with a global senior placement agency company so that the company can be placed in a trusted hand when the founder retires.
The goal of combining two or more international senior placement agency businesses is to achieve synergy, in which the whole (the new company) is greater than the sum of its parts (the former two separate entities).