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.
Connor Kunz VP @Careswitch, former head of education @ Home Care Pulse, scaled a service business 7 figures in 3 years
Brett Ringold Vice President of A Long-Term Companion & HCAOA board member
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