Non Medical Home Care Business Plan
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We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Non Medical Home Care businesses.
Below is a template to help you create each section of your Non Medical Home Care business plan.
Executive Summary
Business Overview
Caring Companions Home Care is a startup non medical home care company located in Missoula, Missouri. The company is founded by Jim and Janice Lockwood, former managers for a home care business for over twenty years. Their experience in all facets of the business, including operations and administrative management, led to repeated stellar reviews of the business by the residents of Missoula who hired them to manage the care for their loved ones.
Jim and Janice Lockwood formed a team to produce an online system that assists the in-home caregivers with up-to-the-minute information on the status of the home client, medication needs, recent events/experiences, medical changes and other pertinent information. This allows each caregiver to enter the home of their client fully prepared with the latest information on the needs of their client. Caregivers provide general non medical assistance and care for the elderly or infirm in their own homes, offering a stable, reassuring continuance of familiar surroundings while able to remain in their own homes.
Product Offering
The following are the services that Caring Companions Home Care will provide:
- Personal care
- Companionship
- Meal planning and preparation
- Medication reminders
- Light housekeeping
- Transportation and Errands
- 24/7 assistance
Customer Focus
Caring Companions Home Care will focus on family caregivers of seniors and on seniors. They will focus on individuals with chronic illnesses. They will also focus on post-surgical or post-hospitalization individuals. They will focus on individuals with disabilities. They will focus on medical doctor organizations and community associations who work with elderly and disabled individuals.
Management Team
Caring Companions Home Care will be owned and operated by Jim and Janice Lockwood. They have recruited two former assistants to join them in starting their new company, Shawn Trentham and Cassidy Lovell, who will now take on the roles of assistant managers in the startup company, each managing specific areas according to their abilities and skills.
Caring Companions Home Care is the realization of a dream for Jim and Janice Lockwood. While working at their former place of employment, they saw all that could be accomplished and improved by processing many operations digitally, scheduling efficiently, and coordinating with home care companions via a client/caregiver digital platform. With these improvements now on the way, they’ve set out to improve all systems and processes to give their customers the best possible care in their own homes.
Shawn Trentham is a former caregiver with seven years of experience. His strength and mobility create a significant plus when working with clients who are larger and require movement from a wheelchair, for instance, to a sofa, or other movement requirements of a similar nature. Shawn’s new role will be that of the Training Manager for all new employees, as well as the first point of contact for employees who are already trained.
Cassidy Lovell, also a former caregiver with six years of experience, will take on the role of Scheduling Manager. She will oversee and direct all schedules for the team of caregivers at Caring Companions Home Care and will dedicate her efforts to assist customers efficiently, with compassion, in every contact.
Success Factors
Caring Companions Home Care will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team at Caring Companions Home Care
- Comprehensive menu of services, customized to need, provided for each client
- Complete digital platform system of up-to-the-minute caregiver and client notes
- Caring Companions Home Care offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.
Download the Non Medical Home Care business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
Caring Companions Home Care is seeking $200,000 in debt financing to launch its Caring Companions Home Care. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph outlines the financial projections for Caring Companions Home Care.
Company Overview
Who is Caring Companions Home Care?
Caring Companions Home Care is a newly established, full-service non medical home care company in Missoula, Missouri. Caring Companions Home Care will be the most reliable, cost-effective, and efficient choice for those who need care in Missoula and the surrounding communities. Caring Companions Home Care will provide a comprehensive menu of personal and domestic services for any chronically ill, senior, or disabled individual to utilize. Their full-service approach includes a comprehensive array of services and assistance choices.
Caring Companions Home Care will be able to offer the very best home care assistance available. The team of professionals are highly qualified and experienced in all aspects of care and assistance and will be fully trained by Caring Companions Home Care before responding to client calls for care. Caring Companions Home Care removes all headaches and issues of the disabled, elderly and chronically ill individuals of Missoula, and it ensures all issues are taken care of expeditiously, while delivering the best customer service.
Caring Companions Home Care History
Caring Companions Home Care is a startup non medical home care company located in Missoula, Missouri. The company is founded by Jim and Janice Lockwood, former managers for a home care business for over twenty years. Their experience in all facets of the business, including operations and administrative management, led to repeated stellar reviews of the business by the residents of Missoula who hired them to manage the care for their loved ones.
Jim and Janice Lockwood formed a team to produce an online system that assists the in-home caregivers with up-to-the-minute information on the status of the home client, medication needs, recent events/experiences, medical changes and other pertinent information. This allows each caregiver to enter the home of their client fully prepared with the latest information on the needs of their client. Caregivers provide general non medical assistance and care for the elderly or infirm in their own homes, offering a stable, reassuring continuance of familiar surroundings while able to remain in their own homes.
Since incorporation, Caring Companions Home Care has achieved the following milestones:
- Registered Caring Companions Home Care, LLC to transact business in the state of Missouri.
- Has a contract in place at one of the area buildings for a 10,000 square foot office and staff conference room.
- Reached out to numerous former clients and contacts to include Caring Companions Home Care when they need assistance.
- Began recruiting a staff of ten and office personnel to work at Caring Companions Home Care.
Caring Companions Home Care Services
The following will be the services Caring Companions Home Care will provide:
- Personal care
- Companionship
- Meal planning and preparation
- Medication reminders
- Light housekeeping
- Transportation and errands
- 24/7 assistance
Industry Analysis
The non medical home care industry is expected to grow over the next five years to over $10 billion.
The growth will be driven by the increase in age of the general population, as more seniors live longer, independent lives.
The growth will also be driven by the ability of younger generations to cover the cost of personal care for parents and family members.
The growth will be driven by an increased number of caregivers who are trained in the non medical caregiver industry.
The growth will be driven by individuals who are amenable to working all hours of the day or night.
Costs will likely be reduced as digital platforms will assist caregivers in providing communication online rather than in-person visits.
Download the Non Medical Home Care business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
Caring Companions Home Care will target family caregivers of seniors and seniors. They will target individuals with chronic illnesses. They will also target post-surgical or post-hospitalization individuals. They will target individuals with disabilities. They will target medical doctor organizations and community associations who work with elderly and disabled individuals.
The precise demographics for Caring Companions Home Care are:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
Caring Companions Home Care will primarily target the following customer profiles:
- Elderly and infirm individuals who need care assistance
- Individuals with disabilities who need care assistance
- Post-surgical or post-hospitalization individuals who need care assistance
- Medical groups and community associations who work with elderly and disabled
Competitive Analysis
Direct and Indirect Competitors
Caring Companions Home Care will face competition from other companies with similar business profiles. A description of each competitor company is below.
Mountain View Respite Care
Mountain View Respite Care is an indirect competitor in that the care offered is for caregivers who need rest from their typical duties. Caregivers can rest for up to two weeks, bringing heir loved ones with them for care at the same time. This allows family members an optimal situation and a rest from assisting seniors who are seriously ill or have dementia and other cognitive disabilities. By providing for both the clients with assistance needs and the caregiver who visits for a rest, Mountain View Respite Care becomes the perfect solution for both parties.
Roger Stone formed Mountain View Respite Care as a result of watching the care given to both his parents during their years of declining health. He noted that the caregivers worked 24/7, often with shift changes in the middle of the night, and were in need of help themselves to continue their duties. When he noted the family members needed help as much as those they cared for, he pursued the idea and launched the Mountain View Respite Care center in 2017. The needs of caregivers are now met, as well as the elderly and disabled or ill clients who visit the center with them.
Harmony Home Care Solutions
Harmony Home Care Solutions is a direct competitor located in the northeast suburban area of MIssoula, Missouri. It is owned and operated by Henry Dowling, who owns two additional locations in other regions of Missouri. Harmony Home Care Solutions provides care attendants who help with personal grooming, bathing, and toileting. They also provide transportation and run errands for clients. The assistants often take care of housekeeping, as well.
The caregiver shifts for Harmony Home Care Solutions are up to 6 hours each; in any 24-hour period of time 4 care attendants are provided. This allows the company to avoid paying full-time wages for any employee, listing each as part-time and not eligible for health care services. The company has fifteen part-time caregivers and three in-office administrative clerks. The outreach and target audience for the company is to seniors who need to augment Medicare benefits with non medical home care. Harmony Home Care Solutions provides those weekly hours and coordinates with Medicare services to effect a full week of care, while providing limited service during those hours.
Serenity Support Services
Serenity Support Services provides hospice care to patients who are typically within the final six to eight months of their lives. The company is owned by Greta Simmons, a former caregiver who chose hospice services because she believes the clients need the most concentrated, mindful care during those last months of life. Serenity Support Services is a direct competitor; however, the service is limited compared to the wide array of services offered by Caring Companions Home Care.
The care attendants for Serenity Support Services provide medications, which entails regulating the professional certifications for aides in order to do so, and they assist with bathing and other personal care issues. They run errands and provide transportation to medical appointments, often helping them communicate with doctors or other care providers. The hospice staff is focused on end-of-life care, which is typically pain relief. Therefore, care attendants must be carefully vetted to avoid any abuse of medication usage by staff members.
Download the Non Medical Home Care business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
Caring Companions Home Care will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly-qualified team at Caring Companions Home Care
- Comprehensive menu of services, customized to need, provided for each client
- Complete digital platform system of up-to-the-minute caregiver and client notes
- Caring Companions Home Care offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.
Marketing Plan
Brand & Value Proposition
Caring Companions Home Care will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled employees who are able to provide a comprehensive array of personalized services, crafted to meet the individual needs of each client.
- Unique digital platform offering up-to-the-minute client information for caregivers.
- 24-hour care with detailed attention provided for medication reminders and assistance.
- Unbeatable pricing to its clients; they will offer the lowest pricing in town.
Promotions Strategy
The promotions strategy for Caring Companions Home Care is as follows:
Word of Mouth/Referrals
Caring Companions Home Care has built up an extensive list of contacts over the years by providing exceptional service and expertise to the clients of their other locations and because they’ve offered stellar care as managers of a home care company themselves. Most clients have already indicated they will follow Jim and Janice to their new company and will also help spread the word of Caring Companions Home Care.
Professional Associations and Networking
Jim and Janice Lockwood will network extensively within the community groups, hospital associations and senior/elderly groups that can direct clients to their care group. They will become actively engaged in assist others within these groups, with the hoped for result of growing their own business.
Website/SEO Marketing
Caring Companions Home Care will fully utilize their website. The website will be well organized, informative, and list all the services that Caring Companions Home Care is able to provide. The website will also list their contact information and schedules for care attendants and clients. The interactive platform allows caregivers to instantly detail information for the other caregivers on their team, offering outstanding results for the clients of the company. The website presence will use enhanced SEO marketing tactics so that anytime someone types in the Google or Bing search engine “non medical home care company” or “home caregivers near me”, Caring Companions Home Care will be listed at the top of the search results.
Pricing
The pricing of Caring Companions Home Care will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.
Operations Plan
The following will be the operations plan for Caring Companions Home Care.
Operation Functions:
- Jim and Janice Lockwood will be the co-owners of the company. They will jointly oversee all staff and manage client relations. Jim and Janice have spent the past year recruiting the following staff:
- Shawn Trentham is a former caregiver who will be the Training Manager for all new personnel. His ability to demonstrate best practices while maintaining professionality will be a winning combination of skills to demonstrate to new employees.
- Cassidy Lovell, also a former caregiver with six years of experience, will take on the role of Scheduling Manager. She will oversee and determine all schedules for the team of caregivers. She will also direct her efforts to assist customers efficiently, with compassion, with every contact.
Download the Non Medical Home Care business plan template (including a customizable financial model) to your computer here <–
Milestones:
Caring Companions Home Care will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel and staff employment contracts
- 6/1/202X – Finalize client contracts for Caring Companions Home Care
- 6/15/202X – Begin networking at association events
- 6/22/202X – Begin moving into Caring Companions Home Care office
- 7/1/202X – Caring Companions Home Care opens its office for business
Management Team
Caring Companions Home Care will be owned and operated by Jim and Janice Lockwood. They have recruited two former assistants to join them in starting their new company, Shawn Trentham and Cassidy Lovell, who will now take on the roles of assistant managers in the startup company, each managing specific areas according to their abilities and skills.
Caring Companions Home Care is the realization of a dream for Jim and Janice Lockwood. While working at their former place of employment, they saw all that could be accomplished and improved by processing many operations digitally, scheduling efficiently, and coordinating with home care companions via a client/caregiver digital platform. With these improvements now on the way, they’ve set out to improve all systems and processes to give their customers the best possible care in their own homes.
Shawn Trentham is a former caregiver with seven years of experience. His strength and mobility create a significant plus when working with clients who are larger and require movement from a wheelchair, for instance, to a sofa, or other movement requirements of a similar nature. Shawn’s new role will be that of the Training Manager for all new employees, as well as the first point of contact for employees who are already trained.
Cassidy Lovell, also a former caregiver with six years of experience, will take on the role of Scheduling Manager. She will oversee and direct all schedules for the team of caregivers at Caring Companions Home Care and will dedicate her efforts to assist customers efficiently, with compassion, in every contact.
Financial Plan
Key Revenue & Costs
The revenue drivers for Caring Companions Home Care are the fees they will charge to the customers for their extensive list of services provided in non medical home care.
The cost drivers will be the overhead costs required in order to staff Caring Companions Home Care. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
Caring Companions Home Care is seeking $200,000 in debt financing to launch its non medical home care company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs, along with association memberships. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
Download the Non Medical Home Care business plan template (including a customizable financial model) to your computer here <–
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Home Care Clients Per Month: 125
- Average Revenue per Month: $250,000
- Office Lease per Year: $100,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Non Medical Home Care Business Plan FAQs
What Is a Non Medical Home Care Business Plan?
A non medical home care business plan is a plan to start and/or grow your non medical home care business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
What are the Main Types of Non Medical Home Care Businesses?
There are a number of different kinds of non medical home care businesses, some examples include: Personal Care, Homemaking, and Companionship.
How Do You Get Funding for Your Non Medical Home Care Business Plan?
Non Medical Home Care businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Non Medical Home Care Business?
Starting a non medical home care business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Non Medical Home Care Business Plan - The first step in starting a business is to create a detailed non medical home care business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your non medical home care business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your non medical home care business is in compliance with local laws.
3. Register Your Non Medical Home Care Business - Once you have chosen a legal structure, the next step is to register your non medical home care business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your non medical home care business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Non Medical Home Care Equipment & Supplies - In order to start your non medical home care business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your non medical home care business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful non medical home care business: