The business plan for individual family care home is a document that outlines what a care facility looks like when it caters to one special needs family. If built from scratch the facility can be very expensive, but modest retrofitting to an existing home or small medical facility can dramatically reduce the up-front costs associated with this sort of business venture. It has compassion and its core more than revenues and margins, but the family care home can be both profitable and fulfilling if executed correctly. This of course means having an excellent business plan and presenting it with confidence at the bank or investor's office. Your document needs to cover these points:
• What equipment will you need to lease versus purchase?
• What will the rent or mortgage be on the facility?
• Do you need medically-trained staff people and if so, what are they paid?
• What are the competitive threats in the immediate geographic market?
• Is there any marketing required for the business?
If you don't need to promote the center then the marketing plan component of the common business plan can be downplayed significantly, but for the plan to pass muster you will still need to provide a comprehensive assessment of the market opportunity. This means looking closely at industry figures for in-home care and outpatient facilities and also gathering relevant stats about the population base and prevailing medical care standards. The pro forma model—which will be either a three-year or five-year projection, depending on your audience—needs to show a revenue forecast, break-even point, profit and loss statement, cash flow, and balance sheet. If you're uncomfortable putting the numbers together or need more help with the research, MasterPlans is your company. We have written thousands of business plans from scratch and know a thing or two about the medical field. Call a consultant to learn more: (877) 453-2011.
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