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Old 29th January 2012, 12:11 AM   #1
doogan
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Default Franchise Idea

Hi everyone -

I have been doing some research on trying to figure out my next move and have been intrigued with the Senior Home care area. I think its a area that will see ongoing demand, as we are all going to be a senior one day. I understand that its a business focused on helping people, ( which is kinda what I do now in a different industry!) and you would need to like dealing with eldery - which I don't mind. The one quesiton I have is regarding the profit margins. Is this a business that there is signigicant financial gain in. I have no issues putting in time, effort working hard etc, But I also want to be able to afford Senior care when I get to that age!!!

Appreciate any input..

thanks all

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Old 30th January 2012, 04:58 AM   #2
Karen Cabana
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Hi doogan!

I think that's a good business, though requires a lot of time, patience, and effort. Who influenced you to think of such kind of venture? Are you a healthcare professional?

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Old 30th January 2012, 08:33 PM   #3
doogan
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Not in the healthcare business at all. Its taken alot of research to narrow in on this area. I work hard, and am trying to get an idea if there are adequate profit margins.

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Old 31st January 2012, 06:58 AM   #4
paulplan2profit
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Default Great Business

There is growing demand and the market has money. If you can carve out a niche for yourself and set things up properly, you will be successful.

Find a business developer to help you.

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Old 21st February 2012, 12:25 PM   #5
topfilings
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Don't have too much experience in the healthcare industry, but I've seen reports about this being a very profitable field -- especially moving forward in the coming years. Consider all the aging "baby-boomers" that are entering retirement age now. In the next decade or two, many of those people will be looking for services like this! Just something to consider


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Old 8th April 2012, 11:19 PM   #6
cfoservices
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Default Senior Home Care

I was in the healthcare business for 5 years. I owned an Outpatient Clinic. This is a different concept than you are introducing, however I believe there will be similarities. To get Medicare Certified is a real challenge. There are a lot of regulations and proper policies and procedures that need to be learned. Medical Billing requires special skill and to hire a service is expensive. In addition their are a lot of private health insurers who have senior plans. You must become certified/appointed by these carriers as well. This is not an easy process as these insurers have plenty of Senior home Care outlets already certified. Then you need to find the right technical expertise, nurses, therapists etc... These occupations are in great demand and it is hard to find talented people.

With respect to profit margins, Medicare and insurance reimbursements are down. Just ask your primary care physician. Primary care Physicians need to see 30 to 40% more patients to make the money they made just 5 years ago.

Your idea is doable, but you really need to talk with more people in the healthcare world to understand all the sand traps and pitfalls.

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Old 30th April 2012, 05:49 PM   #7
honitel
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Quote:
Originally Posted by doogan View Post
Hi everyone -

I have been doing some research on trying to figure out my next move and have been intrigued with the Senior Home care area. I think its a area that will see ongoing demand, as we are all going to be a senior one day. I understand that its a business focused on helping people, ( which is kinda what I do now in a different industry!) and you would need to like dealing with eldery - which I don't mind. The one quesiton I have is regarding the profit margins. Is this a business that there is signigicant financial gain in. I have no issues putting in time, effort working hard etc, But I also want to be able to afford Senior care when I get to that age!!!

Appreciate any input..

thanks all
Hello Doogan,

You are right, senior home care is ongoing demand and will be. And I can see that franchising a home care business is ideal for you which in the first place you love helping people! This business is not just simply business because you are dealing so much comfort, care and love to your clients!

Let us hear in the future how's you plan going!

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Old 14th May 2012, 11:06 PM   #8
snmo4him
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Quote:
Originally Posted by Karen Cabana View Post
Hi doogan!

I think that's a good business, though requires a lot of time, patience, and effort. Who influenced you to think of such kind of venture? Are you a healthcare professional?
Agreed Karen! Time, patience, effort and as what honitel input comfort, care and love not only to the patients you will have later but also to the job/work you will be taken part sooner!

Keep in touch doogan!

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