Office Space Expenses

$0

$6,900

Business Formation Fees

$600

$3,200

Equipment & Supply Expenses

$63

$200

Retail Business Expenses

$0

$7,200

Inventory Expenses

$300

$5,000

Vehicle Expenses

$0

$10,000

Training & Education Expenses

$0

$1,000

Advertising & Marketing Costs

$0

$1,200

Software Expenses

$0

$200

Website Costs

$13

$215

Food Business Expenses

$25

$500

Hospitals, Health Centers & Urgent Care

hoag.org

149,428

Lottie Org

lottie.org

867,090

Emerald City Senior Living

emeraldcityseniorliving.com

2,273,130

Comfort Keepers Franchising

comfortkeepersfranchise.com

2,928,145

Professional Caretakers

professionalcaretakers.com

3,710,928

Home Care How To

homecarehowto.com

3,940,715

Acti-Kare Franchising

actikarefranchise.com

5,788,868

Companion Connection Senior Care

companionconnectionseniorcare.com

5,842,004

AccuCare

accucare.com

6,272,322

HUSKY SENIOR CARE

huskyseniorcare.com

6,851,788

The CareSide

thecareside.com.au

7,523,078

Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

Little startup costs required

The cost to start a in-home senior care business costs significantly less money than most businesses, ranging anywhere from 62 to 35,615.

Rewarding work

Starting a in-home senior care business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

No overhead costs

To get your in-home senior care business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!

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.

High margins

The gross margins for your in-home senior care business are typically around 80%, which is considerably high and allows you to grow your business and manage costs easily.

Crowded Space

Competition is high when it comes to your in-home senior care business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

Work can be inconsistent

As a in-home senior care business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.

Isolation

Often times, as a in-home senior care business, you typically work alone and do not have much face-to-face interaction with other team members.

No safety net

Typically, as a in-home senior care business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.

Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.

You may need to charge sales tax

If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out this article