We've brought together a team of educators and home care experts to answer the burning questions that you and every home care owner will ask at some point.
Becki Harrington-Davis Senior Content Marketing Manager at CareAcademy
Sabrina Sattler Account Executive at Careswitch, home care agency advisor specializing in startup success and longevity
Ilya Vakhutinsky Careswitch CEO, home health aide's son, Forbes 30 Under 30, caregiver advocate
Jennifer Ramos Managed and sold three different home care agencies; CEO of JR3 Consulting
Angelo Spinola Home health, home care and hospice chair at Polsinelli
Brian Cottone Jr. Benefits expert at VItable Health
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
It's actually crazy how much estimates on this vary; however, the general number sits around $60k for the initial capital investment.
To give you an accurate idea of what to expect, I've pulled together as many estimates as I could find as well as my own experience working with home care agencies.
Here are some estimates:
Kenyon Home Care Consulting: $60k average
Home Care How-To: $45k minimum to start an independent agency or $35-48k for a franchisee license plus most of the cost of starting an independent agency.
SeniorServiceBusiness.com: $900 if you're willing to do things extremely cheaply and take the absolute lowest-cost options in every instance.
(In my opinion, this number is inaccurate because you'll quickly to have to add other overhead and infrastructure, but it's useful as a reminder that there are low-cost options everywhere to get started.)
Home Care Pulse: $60k for your first six months of operation