Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$600

$4,700

Equipment & Supply Expenses

$66

$700

Advertising & Marketing Costs

$75

$4,786

Software Expenses

$162

$2,720

Training & Education Expenses

$0

$850

Total Startup Costs

$1,277

$28,323

UCLA health

uclahealth.org

16,053

Intermountain Healthcare

intermountainhealthcare.org

23,444

UW Health

uwhealth.org

43,673

Fairview Health Services

fairview.org

44,990

Caring.com

caring.com

58,572

Axxess

axxess.com

90,258

Healthcare Success, LLC.

healthcaresuccess.com

98,127

Aurora Health Care

aurorahealthcare.org

115,357

Genworth

genworth.com

134,674

Kindred Healthcare

kindredhealthcare.com

140,596

Tufts Health Plan

tuftshealthplan.com

145,567

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Meaningful business connections

You never know who you will meet as a home healthcare service business. This could be the start of an incredible business opportunity!

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Pick & choose the clients you work with

Home Healthcare Service Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!

Control of workload

With starting a home healthcare service business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.

Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Low margins

The gross margins for your home healthcare service business are typically around 35%, which can make it more challenging to incur new expenses and maintain profitability.

High employee turnover

In the home healthcare service business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.

Taxes

As a home healthcare service business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Stressful work

This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments.

High overhead expenses

With starting a home healthcare service business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.