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How to Start a Home Care Franchise
It’s possible to have a profitable business while still being able to contribute to your local community positively.
If your personal idea of fulfilment is helping people live more comfortably as they age, or helping support people living with a disability, then starting a home care business is for you!
Nurse Next Door Home Care Services has made it even easier for people with a passion for Making Lives Better to build a business with heart. If you are looking to launch a business in a booming industry, you are in the right place! But, before you decide whether starting a home care franchise is right for you, it’s always crucial to do your research first.
To make your decision-making process a little easier, here are some commonly asked questions many current Nurse Next Door Franchise Partners have asked.
Where can I learn more about franchising?
Looking at starting a home care franchise can fast-track success because a lot of the groundwork, which can take years, has already been done for you. There are a lot of misconceptions about franchise models, so it’s important to learn more about franchising and whether it is the right fit for you.
The following links are good starting points:
Do I need qualifications to operate a home care franchise?
To own and operate a home care franchise you don’t need to have any medical qualifications however if you do not, you’ll need to hire a lead clinician for your business, who will typically be an experienced Registered Nurse (RN). To provide any form of skilled medical home care you will need to employ qualified and recognised Registered and/or Enrolled nurses.
For Companionship and Caregiving, we recommend employing people with a minimum of Certificate III in individual support. (Aged Care or Disability Support).
How do I generate revenue as a home care franchise?
Revenue for home care services can come from a variety of sources, but the three main streams of income will be generated from:
- Government Aged Home Care Package (HCP)
- National Disability Insurance Scheme (NDIS)
- Private Pay
All Nurse Next Door Franchise Partners are required to become registered NDIS providers within two years of commencing operations and Nurse Next Door will provide assistance and guidance to Franchise Partners in completing the NDIS provider registration application and audit process. Currently there is no requirement for a Nurse Next Door Franchise Partner to become a registered provider of Home Care Packages under the Aged Care Department.
To provide services to a client with a Home Care Package, Nurse Next Door partners with a third party that is registered to manage HCP funds, allowing Franchise Partners to provide care without having to be registered providers themselves. When it comes to disability, care can be provided by Nurse Next Door locations, who are both registered and unregistered, for the majority of NDIS participants.
Private Pay home care is a growing sector in Australia, as more and more people elect to make the choice to stay at home, living an independent lifestyle
What insurance do I need to set up a home care franchise?
The right liability insurance will protect you and your home care business.
Nurse Next Door has established relationships with insurance brokers who are experienced in health care and can provide all your insurance needs.
How much does it really cost to start a home care franchise?
Home care isn’t a one-size-fits-all business, and costs can vary especially if you choose to start from scratch. Nurse Next Door franchise partners pay an estimated $5 - 6K for legal and accounting set up fees and $8 -10K on insurances. These numbers are dependent on your location, the size of your operation, and other variables.
Aside from the initial Franchise and Start up Technology fees, setting up a Nurse Next Door home care franchise is a relatively low cost undertaking. As most businesses can be run from a home office in the early days, your initial set up costs, in addition to the legal, accounting and insurance costs above, could be as low as $5K. You’ll also require a minimum of $50K in working capital to get you through the first 4-6 months of operations, until your business becomes cash flow positive.
How can Nurse Next Door set me up for success?
With a booming home care sector being fuelled by the NDIS and Aged Care funding, there are a lot of opportunities to start, and rapidly grow, a home care business within an industry that is very stable and ever-expanding. Looking at investing in a home care franchise can help fast-track your success because a lot of the groundwork, which can take years, has already been done for you.
Nurse Next Door Home Care Services is uniquely positioned for long-term, year-over-year growth and can help set you up for success through:
- An established brand that has been operating in North America for over 20 years and nearly 4 years in Australia
- A highly sought after culture, which has won multiple awards both in North America and also here in Australia
- World class systems, policies and procedures, specifically tailored to the Australian market
- 3 month Foundations training before you start operations, including our 1 week Immersions program in Melbourne
- Ongoing support from a team of experienced coaches and subject matter experts.
Starting a home care franchise with Nurse Next Door means you can spend more time focusing on what matters most; Making Lives Better for your clients so that they can continue to live independently and comfortably within their own home and on their own terms.
Leave the setup and admin to us!
