fbpx
Close

5 Myths About Owning A Senior Care Business

Interested in owning a senior care business, but hesitant because of preconceived notions?

Often times people shy away from senior care because they think they don’t have the right background or they don’t quite know what the day-to-day operations entail.  We are here to rid those notions and present you with the facts.

1. I Need Healthcare Experience

Becoming a successful business owner that specializes in senior home care doesn’t require a background in professional health management or care. Companionship and care coordination is the main goal of most home care businesses. Basic care is what is normally provided, not medical assistance or health care.

2. I’m Too Old

You are never too old to start a new adventure! Starting a new business may be just what you need to give you a new lease on life. Besides, your knowledge and experience will be an asset. Investing your time and money in a new business gives you an opportunity to remain active and help others.

3. The Market Is Saturated With Home Care Businesses

Contrary to what many people may think, the number of care providers is actually shrinking. This means fewer actual caregivers and a greater need for the services offered by home care companies. Not only does a home care business support the caregiver, but home care workers can also perform many of the duties that might be difficult for the caregiver to accomplish on their own.

4. I Will Spend My Days Processing Medicare & Health Insurance Claims

Most home care services aren’t covered through the patient’s insurance or by Medicare. Some may have benefits they receive from Veteran’s programs, but in most cases, home care services are private pay. Long-term care insurance may cover some of the cost, but more than likely not all of it.

5. I Don’t Have The Capital

While it does cost money to invest in an established franchise, that doesn’t mean you have to be a millionaire. If you can come up with $50k in cash and prove a net worth of at least $120,000, you have what it takes to move forward. Additionally, there are franchising options for most anyone looking to purchase a franchise—from Small Business Administration (SBA) loans and traditional bank loans to special programs for veterans.

Considering a Senior Care Franchise?

When you join our group of dynamic business owners, as franchisees of A Place at Home, you’ll have strong support, thorough training and valuable business resources to help you succeed. Contact us to learn more.