A Quick Guide to Starting a Business Serving Family Senior Caregivers
More than one in six working adults report caring for a senior or disabled loved one, specifically a family member, another relative, or a friend. According to the Family Caregiver Alliance (FCA), about 56 percent of these caregivers work a full-time job, while 16 percent work less than 40 hours a week but more than 30. About 25 percent are employed at 30 hours a week or less, and 61 percent of all family caregivers report having to reduce their working hours or take a leave of absence in order to care for their loved one.
If you’ve been thinking about launching a business that provides services or assistance to family senior caregivers, there’s certainly a market for it. The senior population in America is expected to increase from 54.1 million to 80.8 million by the year 2040, and close to 90 percent of adults aged 50 and older plan to remain at home as they grow older. This presents many job opportunities for those who wish to assist family caregivers with tasks such as running errands or making senior-friendly home modifications.
To learn more about starting a business that serves family senior caregivers, review this guide.
Business Ideas Serving Family Senior Caregivers
Many family caregivers balance work with caregiving duties, helping their senior loved one with things such as cooking, cleaning, grooming, and grocery shopping. As such, you may wish to start a business that helps family caregivers with these types of responsibilities. A few business ideas serving seniors and their caregivers include:
- Aging in place specialists. These professionals help seniors and their families to make suitable home modifications and prepare for aging in place. Designations are also available to those who wish to become a Certified Aging-in-Place Specialist (CAPS).
- Senior errand and transportation services. Since family senior caregivers are often responsible for running errands and transporting their loved ones to and from doctor’s appointments, this type of business could help families with everything from grocery shopping to driving to and from physician visits and personal care appointments.
- Housekeeping services. Services often include dusting, vacuuming, laundry, bathroom cleaning, home and closet organization, and general housekeeping.
- Senior living advisors. Though the majority of seniors wish to age in place, remaining at home isn’t always possible. Senior living advisors can help family caregivers to choose the right assisted living facility, nursing home, or home care services for their loved one.
Forming and Marketing Your Business
Like any type of business, there are several steps you’ll need to take when launching an eldercare business. Start by contacting senior care providers in your area to get an idea of which services are most needed, and make a list of the different services you’ll offer to seniors and their caregivers.
Next, write your business plan, select a name for your business, and choose a legal entity. Certified Homecare Consulting can help you with startup tasks like state licensure and accreditation.
When you’re ready to market your services and look for clients, begin by requesting referrals from senior service providers near you — and create online listings on websites such as Care.com and AgingCare. You could also visit local assisted living communities, hospitals, clinics, and home care agencies to leave information about your business and the services you provide to family senior caregivers.
Managing Your Finances With Accounting Software
Accounting software can be a valuable tool for managing your finances. By tracking income and expenses, you can gain a better understanding of where your money is going and make more informed decisions about how to spend it. By finding accounting software that works for you, you can also create financial reports that can be used to track progress and assess opportunities for growth. In addition, accounting software can help you to automate tasks such as invoicing and payments, saving you time and ensuring that your finances are always up-to-date.
Your Services Can Make a Difference for Families Everywhere
As the senior population grows, so too will the need for family caregiver support services. By offering senior living advisory services, transportation and housekeeping services, and expert advice on aging in place, you can help seniors and their families to navigate the aging process with much less stress and a lot more compassionate care. Once you’ve chosen a business idea, write a business plan, invest in accounting software, and start marketing your business.
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