As the baby boomer generation grows older, the need for home care options is in demand. Unlike the previous generation, baby boomers prefer to age in place, more so than their parents. This phenomenon is the reason why over a million homes in the U.S. are not on the market.

This trend presents a real opportunity for entrepreneurs who want to move into the home care space. It’s also an excellent opportunity for former healthcare professionals to channel their entrepreneurial spirit.

Are you ready to discover the possibilities of home care? Learn how to start a private home care business in this step-by-step guide.

1. Get Certified

Experience matters in the home care industry. That’s why it’s an ideal sector for former healthcare professionals. Your first step is to get certified in home care.

There are several certifications you can pursue. Start with certifications from the National Association for Home Care and Hospice. They have an NAHC executive program designed for leaders like yourself.

You’ll also need Medicaid and Medicare certifications. These certifications allow your business to accept Medicaid and Medicare payments. Start this process early, as it can take up to a year to qualify.

2. Create a Home Care Business Plan

You have the home care expertise, but do you have the business savvy to make your idea work? Sit down and write a business plan that considers every little detail.

Start with these details:

Company description

Market analysis of the home care industry

Operations framework

Management model

Description of services offered

Home care equipment needs

Marketing and sales strategy

The financial outlook for the business

A business plan will help you visualize your business and goals. You’ll also need a business plan if you want to obtain a bank loan for your company.

3. Find Business Funding

Your next step is to generate capital. You need enough starting capital for a commercial office, equipment, staff, business licensing, home care software, and marketing. You may be able to operate your home care business from your own home, which can save you money on office space expenses.

There are a few ways to get business funding. You can start with a major bank. If you want a bank loan, you’ll need to perfect your home care business proposal.

You could also try private lending sources and high-risk loans if you don’t have the credit background for a regular business loan.

4. How to Start a Private Home Care Business in Your State

The next step is to register your home care business with your state of residence. You will need to get a home care license to operate in your state. This step is also required if you want to accept Medicare and Medicaid.

Every state has its own set of requirements for home care businesses, so research accordingly!

5. Promote Your New Home Care Business or Agency

Your last step is to attract clients. As a home care provider, you’ll want to target families of aging parents and seniors themselves. Use market research to create your “ideal client” profile.

Plan your marketing campaigns around this target profile. Use high-converting strategies for this demographic, including email marketing, direct mail marketing, SEO, and even outbound calling.

Discover the Business Potential of Home Care

Don’t sleep on the potential of home care. Learn how to start a private home care business with this simple starter guide.

Make sure your business has the resources it needs to grow. Visit the blog to discover even more tips and tricks for busy entrepreneurs.