How to Start a Board and Care Business
The Board and Care business targets those that are in need of a home with residential care and assistance.
This is favored by the sick and disabled in the local community and would therefore make for a profitable business opportunity to that target audience.
The board and care business involves providing residential care homes which includes a room and general supervisions for the clients. Personal care assistance is also given and these homes usually have around 6 residents maximum.
To start the board and care business, first take into account the requirements needed by your local government. Visit your local government and consult with them with regards to your plans to open the business. Be able to evaluate all the legalities of the business and therefore assess them accordingly. Decide on the location of this home, if you want to convert a portion of your household to the business or if you would rather start from scratch with an independent establishment.
Once you have decided on your location you may now draft your business plan. Make a list of the services you plan on offering at your establishment. Note also your long term and short term goals as you will want to continually develop and improve on your business. From these devise your guidelines, rules and regulations and restrictions that should be followed at your board and care business. To keep things concise and to make sure that you did not leave any information out, it would be wise to consult with a lawyer to evaluate your documentation as well as the business model you are setting up.
After you have made a draft of the business model you may now list down your expense estimates. There you will draft all the necessary expenses you are required and you believe you will make that will benefit your business. You may also consult with an accountant in this regard in order to get a clear view of what you need to pay. From the total breakdown you will be able to determine whether or not you should consider a loan or if your initial investment saved on hand is enough to start your business. Also, with this draft you will be able to determine the ideal suppliers and have a vast selection of choices.
Set up your boarding home with the appropriate furnishings and amenities that will cater to your clients. Make sure to assess the basic needs accordingly and to draft out an easy layout for the boarding house. Initially you need not pay too much attention to detail as these are things you may want to consider once your business has established itself. Once must bear in mind though that this business is also a care business which requires a 24 hour staff to assess to the needs of the clients. Therefore be sure to hire qualified healthcare professionals to staff your business.
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