Adult Foster Home Business Plan

Posted in Articles by Masterplans

Adult Foster Home Business Plan

Writing an adult foster home business plan? Fostering a child or a mentally or physically-challenged adult is an enormous responsibility, though it brings with it huge rewards in the shape of a positive contribution to society and a steady stream of income as government support payments. You don't typically need a business plan to have a foster child, but if you envision starting a small home-based company for the care of children or adults and you need a loan from the bank to update a room or buy supplies for your charges, a plan may be right for you. If so, it should show:

• The market need in your region
• A financial forecast showing when money comes in
• A break-down of seed capital
• Full bios for the managers
• A staffing plan, if applicable

The personnel plan is just part of a larger financial model that will show at least three years of cash inflows and outflows. You can build this in Excel or use planning software if you're comfortable with it. You should also cover the state of the industry for foster parents, whether you face any competitive pressures of market threats, and the implementation strategy your home will use generally. If this sounds complicated, let MasterPlans take over. Our in-house team of writers and modeling experts is second to none and can get you a funding-ready business plan in as little as 2 weeks. Call at 877-453-2011.

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