Regardless of how the economy is doing, people still require in home care services (both skilled and non-medical). For home care agencies, these businesses enjoy substantial economic stability, and they are highly scalable. We will dive deeper into why these businesses thrive a bit more in this overview below.
Let’s get to some immediate questions that you probably have.
What do I receive with this service?
Most importantly, you will receive a comprehensive business plan with a five year financial model specific for your market. This includes conducting all of the necessary market and industry research.
Second, you will receive an interactive pitch deck to showcase to potential funding sources or partners that showcase the capabilities of your agency. Below is a video overview of a sample pitch deck (40 seconds):
In addition to the interactive version of the pitch deck, we also provide a PDF version which can be easily viewed on mobile devices:
Third, you will receive a dashboard driven financial model that will allow you to take a look at different scenarios regarding the number of clients, the hourly/daily charges, and operating costs. This tool is designed to help you as you progress through your business’ development. Please note that even once we complete the business plan, we are more than happy to make any adjustments to the plan down the road. For instance, if you decide to start your home care business in a different city – we are available at any time to adjust the plan.
How much does this service cost and how long does it take?
We charge a flat fee of $525, and it takes five to six business days to complete the work. The way we handle payment is 50% upfront and 50% upon completion.
How long have you been in business?
We have been developing business plans and pitch decks since 2005.
Do you use any AI in your work?
No, we do not. All aspects of the plan are completed by Matthew Deutsch (Founder).
How can I get in contact with you?
We can be reached any time at 646-216-9844 (weekend calls are welcome). You can email us at [email protected] or through our Contact Us form.
What will you need from me to do the plan and pitch deck?
We will need the following:
1) The name of the business and where it is located.
2) How much capital that you are seeking to acquire.
3) Your name and if you have partners then we will need there names as well (anyone that owns 20% or more of the business).
4) Whether you are providing skilled care, non-medical care, or both.
5) If you have already sourced an office then we will need to know the rental costs.
6) If you have already created any documents related to your business, you can send that content as well if you feel that it is helpful.
How do you do the financial modeling?
All of the work that we do is done specifically for the needs of each client. When we develop the five-year financial forecast, we take a market-research first approach. This includes examining the population size and the percentage of people that require home care services. This allows us to understand the Total Addressable Market (often referred to as TAM). We then take a look at the number of competitors in the market. This allows us to understand the percentage of the market that you can capture.
Once we have this information in hand, we are then able to project how many clients that you can onboard. We also calculate how much you will need to spend on marketing and advertising in order to acquire each client. This forms the entire basis of how we develop the financial model.
Beyond revenue, we also review market rates for home care services in your area as well the market-rate wages for employees (spanning RNs, LPNs, and non-medical in-home care staff). Again, all of the work we do is done specifically for the needs of each client.
The market analysis report that we complete for each client is as follows:
What if I need some adjustments made to business plan once it is completed?
We are always more than happy to make any adjustments or revisions to the plan with your feedback. Generally, we are 95% on the mark on the first draft with minor tweaks and adjustments made here and there. We offer unlimited revisions as part of our service.
Now onto other topics regarding home care agencies.
What do you like about home care businesses?
As noted above, these businesses operate with a substantial degree of economic stability. Beyond this, financial institutions are always happy to provide capital support for the startup and expansion of these businesses. The highly recurring nature of revenue makes these businesses strong candidates for ongoing financing.
Additionally, these businesses are highly scalable. By continually increasing the scope of your marketing campaigns, you can onboard new clients on a regular basis. Additional staff can be soured to provide these services to new clients.
What is the outlook for the home care industry?
From an industry perspective, these businesses are poised for significant growth in the coming years. For non-medical services, the compounded annual growth rate (commonly called CAGR) is 8% to 10%. For skilled care, the CAGR will range from 7% to 10%. This creates numerous promising opportunities for professionals in this field.
What challenges do home care businesses face?
As with any industry, there are certain drawbacks and issues that need to be addressed. The primary issue facing the home care industry is availability of labor. There is currently a shortage of RNs, LPNs, and non-medical home care aides. This has necessitated higher wages. However, these higher costs have resulted in increased fees.
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We are committed to providing you with a business plan and pitch deck that you can present with confidence and clarity. In closing, we will work with you each step of the way as you plan the development or expansion of your home care business. Please feel free to reach us any time at 646-216-9844 to discuss your needs. And now, a quick introduction from our Founder and CEO: