GROUP HOME BUSINESS PLAN GUIDE
Setting up an elderly care business requires having the right ideas.
However, it is not enough to have a business idea. It is necessary that while having the business idea you put in place the right strategies for proper implementation of these ideas.
This article focuses on one such necessity for starting an adult group home.
The business plan is invaluable to the success of any business. It is the roadmap of the business where every implementable action is clearly documented and all of it is fully implemented at the stipulated time.
The group home business plan is the focus of this article as we seek to provide the reader with a template with which to write his or her unique group home business plan.
Here is a sample business plan for starting a residential care business for adults with disabilities.
All Seasons Homes is a group home service that offers comfortable and secure accommodation for people within the society with varying challenges such as disabilities as well as persons in need of temporary shelters.
Our facility is fitted with basic comforts to ensure that our equipment has an acceptable level of decency.
To achieve this, our facility is run by well-experienced professionals with considerable years of service in the nursing care industry.
These bring their professionalism to bear on the job as they handle a variety of cases, with each client treated on a need basis.
Located in the heart of Wichita, Kansas, All Seasons Homes lives up to its name by providing all-year-round services to a variety of clients in a variety of situations.
We are determined as a business to create a strong brand in the provision of group home services and to become a major player in this sector.
In recent years, the demand for group home services has steadily increased.
This may not be unconnected with the decline in affordable housing. Therefore we are coming to the rescue of a growing population left stranded by these conditions.
All Seasons Homes is founded by Clement Hawkins and partner Dora Clayton who is an architect and has worked for over two decades in the housing industry.
He brings his wealth of experience to bear on this new business as his little way of giving back to society. Dora Clayton has worked in the nursing care industry and has a vast understanding of the needs of group home clients.
Our mission at All Seasons Homes is to establish one of the top group home services known for excellence in the provision of nursing care services as well as decent shelters at very competitive rates.
These services will be offered to the needy such as the elderly as well as children who have some form of disability.
We are determined and focused on providing exceptional group home services comparable to the best in the industry.
We have a goal of being among the top 5 providers of group home facilities in Kansas within 10 years from the time of commencement of operations.
Starting a group home service requires sufficient funding. To this end, savings to the tune of $150,000.00 has been kept aside by the duo of Clement Hawkins and Dora Clayton.
However, this sum will not be enough as an investment sum of $600,000.00 will be required.
Hence a balance of $450,000.00 will be sourced through loans from reputable banks.
Every business exists to meet a need and through that to make profits.
Hence while providing affordable and comfortable group home services to our esteemed clients, we intend to structure our services in a way that allows for reasonable profitability.
To this end, we have completed a 3-year profitability forecast. The results obtained from this research have been nothing but impressive.
The current economic climate has been used in this research.
The chart below reveals our findings;
- First Year. $340,000.00
- Second Year. $590,000.00
- Third Year. $900,000.00
To gain a fair share of the market, having a competitive advantage is of utmost importance. To this end, we are providing our clients with better homes which contain basic comforts as well as adequate security.
We will also give due consideration to any problems or concerns raised however insignificant they may seem.
Our workforce will be carefully selected from the very best. We will have a preference for professionals with significant experience in the provision of group home services.
We will also learn from mistakes made by similar businesses to rectify these. All of our services will be fine-tuned towards exceeding our clients’ expectations.
Marketing and Advert Strategies
We will adopt a variety of marketing and advertisement strategies for our business.
These will include the use of electronic and print media options, social media channels such as Facebook, Twitter, and Instagram to spread the word about our services as well as the payment of ad spaces on billboards located in strategic areas.
All of these are intended to make our business more visible to the public to increase our chances of patronage. In addition to these, we will encourage the use of word-of-mouth marketing as a strategy to attract clients.
This is a sample group home business plan which can be used as a guide for writing a comprehensive business plan for your group home business.
It is recommended that after writing your plan, you should ensure the full implementation of its contents, as only this can lead to sustainable growth.