How to Start a Companion Care Business
Companion care businesses are vital to a population that finds itself with a growing number of aging citizens. Beginning in 2011, baby boomers will be turning 65 in record numbers at the rate of 10,000 a day for the next 19 years. Companion care businesses help these older citizens live productive and independent lives without having to be placed in nursing care facilities. It's important for those starting companion care businesses to understand the stresses encountered in the business.
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Instructions
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Obtain as much training as possible prior to starting the companion care business. Areas to focus on should include geriatric care, knowing how to prevent and control infections, fall prevention and spotting signs of elderly abuse. Training can be achieved through online courses, community colleges and local hospitals.
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Spend time in nursing homes, getting a feel for what your duties will entail. It takes a certain temperament to run a companion care business and working in a nursing home will help you discover if you have an aptitude for it.
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Contact your state Department of Health to determine if there are any special requirements or regulations that must be followed. Different states have different laws. For example, Georgia requires that companion care providers must be licensed, but Virginia does not have that requirement. In addition, the personnel at the Department of Health can also recommend any additional training you might require.
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Decide if you want to have an independent business or work through a franchise. While being independent means not having to answer to others, working through a franchise can offer advantages such as additional training, materials and even assistance in starting your company.
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Have a background check performed on yourself. In order for people to feel secure with entrusting you with the care of their elderly family members, they're going to want to make sure that you are completely trustworthy. Passing your own background check will make sure that nothing in your past you might have forgotten about will come to light and cause problems.
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Print up promotional material to distribute to local senior citizen centers and public areas. Make sure that any special qualifications you possess are prominently listed.
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Go to your local City Hall and get an assumed name permit. In addition, make sure that you file for a tax identification number with your local State Comptroller. Set up a business account with your bank or credit union. Make sure that any finances involving the companion care business are only linked with the business account. Mixing business accounts and personal accounts can lead to problems when it comes time for collecting and filing taxes with the state and federal authorities.
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References
- Franchise Gator: CEO Brings Compassion and Expertise to Non-Medical Home Care Field
- Gaebler.com: Starting an Elderly Companion Service
- Daily Record: Senior Care Business in Parsippany, NJ Fills "Tremendous Need"
- The Atom Stack Tribune: With Baby Boomers Turning 65 in Record Numbers: Medicare Eligibility Rules May Be Changing
- Photo Credit Jupiterimages/Polka Dot/Getty Images
