Homely Care Business Plan

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Total Length: 5105 words ( 17 double-spaced pages)

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Executive Summary

Homely Care provides assisted living solutions for aged individuals and senior adults. Homely Care is devoted to providing superlative and the highest quality care level to California senior citizens who necessitate or wish for an assisted living facility. Homely Care is situated in an ideal climate in the community of Roseville in California. The residents experience enjoyable conditions of a mixture of both coastal and inland climates. This kind of weather is deemed ideal for seniors who may be experiencing illnesses such as arthritis, pain in different joints in the body, or are vulnerable to cold conditions. This is considered to be a prime location for the business owing to the significantly increasing number of elderly individuals in the State of California.

The legal form of ownership of Homely Care will take up a Limited Liability Corporation (LLC) structure. The main reason for selecting this legal form is that there is protection from personal liability and therefore, solely the amount of money put by the shareholders into the company will be at risk. Homely Care has a unique advantage as compared to other typically major and less personal senior assisted living facilities and specifically concentrates in the capability of providing an exceedingly high level of care in a comparatively smaller environment that is more personalized and lays emphasis on the residents. Homely Care provides assistance to the residents with their everyday activities that comprise of aiding in taking medication, meals, reminders, physical therapy and also personal grooming. In addition, Homely Care provides the residents with a change for experiencing entertainment, subsisting with individuals of the same bracket, companionship and activities that enable such senior individuals to enjoy and attain self-actualization. An objective of Homely Care is to provide residents with both aspects, which are a privatized facility that has a home-like feeling amalgamated with the companionship and activities that a major facility provides.

The management and organizational team within the organization will comprise of the CEO, assisted living administrator, sales and marketing manager, finance and accounting manager and cleaners and home helps. Residents of Homely care will have accessibility to the facility’s swimming pool and spa, both of which are fitted out with an Americans with Disabilities Act (ADA) amenable lift for those seniors experiencing challenges whilst trying to enter the pool or spa area. Homely Care will provide residents with three meals and two snacks on an everyday basis. Those unable to take medication on their own will be assisted by the staff based on the scheduled times for taking medicine.

Monthly pricing at Homely Care will be $3,000 every month, with extra monthly charges for particular products and services as outlined below. Furthermore, the facility will charge the residents a one-time pre-admission fee of $1,500. In terms of the revenues to be generated by Homely Care, every resident within the facility will pay $3,500 per month. In total, there will be 25 residents within the facility, which implies that the annual revenue is $1,050,000. The total expenses will be $596,000, $641,000, and $663,000 for the three years respectively. In terms of growth and development, Homely Care purposes to open a second facility in the third year of operation. In particular, this second facility will provide residents with the similar quality services and make certain that they have a quality standard of living away from their homes. In addition, the company plans to expand the current facility from 25 residents to 50 residents through building new structures that will be able to cater for such increased numbers

General Company Description

Homely Care is an organization that is set on providing assisted living or home care services to the elderly in the state of California. Presently, there is a greater number of aged individuals in need of assisted living services and Homely Care is keen on ensuring that such needs are met with the highest quality level possible.

Vision Statement

Our vision is to be the best and most ideal option in the market with regard to assisted living in the whole of California and to be ranked amongst the top 10 assisted living facility service provide in the entire nation in the next decade.

Mission Statement

Homely Care is in the business of establishing and advancing a first-rate assisted living facility service that will provide exceptional care at an economical price, carrying out industry best practices to augment the quality of life for the facility’s residents.

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Company’s Goals and Objectives

1. To provide a safe environment for senior and elderly individuals

2. To promote both physical and mental health

3. To provide a quality level of care that surpasses our peers

4. To generate profit through the quality of care that we render

Business Philosophy

To provide senior and elderly persons with a cost effective alternative to paying for assistance at home or living in a greater, less personal facility, and at the same tile augmenting the quality of life of the persons.

Company’s unique features

One of the unique features of Homely Care is that unlike other companies in the business, we concentrate on providing personalized care to all residents within the facility. In particular, Homely Care will ensure that every resident is provided with the highest quality of care at all times and will be packaged to satisfy them based on individual needs. Basically, Homely Care will ensure that if an individual requires physical therapy or companionship, provision of medication, or self-actualization, such needs shall be addressed and satisfied. In addition, Homely Care guarantees that all of its personnel working within the facility have been vetted, trained and educated on all important matters regarding assisted living. This will guarantee the safety of all residents and also surety that they are well taken care of.

Legal form of ownership

The legal form of ownership of Homely Care will take up a Limited Liability Corporation (LLC) structure. The main reason for selecting this legal form is that there is protection from personal liability and therefore, solely the amount of money put by the shareholders into the company will be at risk. In addition, in the event that Homely Care opens up different facilities in the future, they will be established as separate LLCs in each of their locations. In addition, with this kind of legal structure, it will be possible to appeal to investor with conceivably a greater proportion of the profits compared to their initial investment. Therefore, this will make it possible to obtain greater funds during business expansion.

Location of administrative office

The administrative office for Homely Care’s facility will be situated in the community of Roseville in the state of California. It is expected that owing to the increasing numbers of senior individuals in the state, Homely Care will be able to have filled capacity in terms of residents throughout the year.

Management and Organization

The management team of Homely Care is outlined as follows in a hierarchical manner starting from the top. This section will outline their roles and responsibilities in the organization.

Chief Executive Officer

1. Forming, conveying and executing the organization’s vision, mission and general direction. That is, shepherding the development and execution of the organization’s strategy as a whole.

2. Responsible for providing direction for the business

3. Facilitating management efficacy through incessant recruitment, selection, training, coaching, advising, and castigating managers

4. Communicating strategies, goals and objectives of the company

5. Assigning responsibilities, planning, and critiquing job outcomes

6. Responsible for the determination of the prices for the services rendered and signing business deals

7. Liable for signing and checks as well as documents in the best interests of the company

8. Assessing the success of the company

9. Providing apt and comprehensive reports to the board of directors

Assisted Living Administrator (Administration and Human Resources Manager)

1. Responsible for supervising the free-flowing running of human resources and administrative undertakings for the company.

2. The designing of job descriptions and responsibilities with key performance indicators (KPIs) to facilitate performance management

3. Conduct meetings with the various stakeholders to ascertain the efficacy of human resource policies, practices and processes.

4. Accountable for training, assessing and appraising of personnel

5. Delineating job positions within the company for recruitment and overseeing the interviewing process

6. Undertaking induction into the company staff for the new members

7. Accountable for the arrangement of employee movement, meetings and appointments

8. Administering the smooth running of the everyday office activities

Sales and Marketing Manager

1. Responsible for pinpointing, prioritizing and pursuing new clients and business prospects

2. Ascertaining development prospects and conducting client follow-ups

3. Outlining effective proposal documents, partaking in fee negotiation that are in tandem with.....

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