Senior home care is a business that provides a group of expert services, with the aim of assisting elders in living safely at home. A professional caregiver visits an elderly person’s home to offer any assistance required. Note that both the duration and quality of care vary.
In Canada, provincial, territorial, and some municipal governments provide the majority of home and community care services.
According to data analysis, the Canadian market for home care providers will be worth $6.2 billion in 2023. So also, nearly half (48 percent) of the 6 percent of Canadian households indicated they had used formal home care in the previous year; 32 percent received support home care, while about 20 percent received both forms of care.
Steps on How to Start a Senior Home Care Business in Canada
Table of Contents
Conduct Market Research
Market research before opening a senior home care business in Canada is essential for maximizing revenues. Creating a market-based research question that is consistent with your overall business aim should be the first stage in the process of senior home care services.
You should look for information that will enable you to maximize your business, provide you with trustworthy data, and give you an idea of what your potential market will be seeking from a Canadian senior home care business, and information that will guide you to operate with less stress and also build the business to profitability.
Who is the Target Market for Senior Home Care Business in Canada?
- The aging population/senior citizens
- The aged people who are suffering from joint pains
Is a Senior home care business Profitable?
Yes, the senior home care business is profitable. Statistics show that Canadians aged 64 and younger spend $2,700 on healthcare on average per person. For the age of 65 and above, the average per-person expenditure is more than four times higher at $12,000.
Are There Existing Niches in the Industry?
There are existing niches in the senior home care business industry, which include the following;
- Home Health Care
- Assisted Living Facilities
- Nursing Homes
- Adult Daycare Centers
Who are the Major Competitors?
- Right at Home Care Canada
- Care & Company
- The Care Company
- Home Instead
- FirstLight Home Care Canada
- Divine Favour Healthcare Staffing Inc
- Carelink Home Care – In-Home Care Service Provider
- Home Well Senior Care
- Eldercare Home Health Inc
- Peace In-Home Health Care Services
- Concord & Thornhill, Home Care Services
- Senior Helpers Markham
- iCare Home Health Services Inc
- Comfort Keepers Home Care
- Nurse Next Door
- CareStory Home Care
- Home Concierge Toronto
- Guardian Home Care
- BrightStar Care
- ComForCare Home Care Franchise
Are There County or State Regulations or Zoning Laws for Senior Home Care Businesses in Canada?
Yes, there are county and provincial regulations and zoning laws for senior home care businesses in Canada. Both the federal and provincial governments share jurisdiction over health and medical matters. The Constitution Act of 1867’s Sections 91 and 92 provide either parliament or provincial legislatures sole control over legislation.
Zoning allows local governments to regulate which areas under their jurisdiction may have real estate or land used for particular purposes. Examples of zoning classifications include residential, commercial, agricultural, industrial, or hotel/hospitality, among other more specific designations.
Note that in order to practice senior home care business in their province or territory, licensed health care providers must register with the appropriate regulating authority each year. The annual membership fee for non-regulated healthcare providers is paid to their respective professional associations.
Is There a Franchise for Senior Home Care Businesses in Canada?
Yes, there are franchise opportunities for senior home care businesses, and here are some of them;
- BrightStar Care Franchise
- ComForCare Home Care Franchise
- Comfort Keepers Franchise
- Right at Home Care Canada
- FirstLight Home Care Canada
- Home Instead
- Homewatch CareGivers
- Premier Homecare Services
- Nurse Next Door Healthcare Services
- Silver Cross
- Qualicare
- Senior Homecare by Angels
- Living Assistance Services
What Do You Need to Start a Senior Home Care Business in Canada?
- A feasibility report
- Business and marketing plans
- Business licenses and permits
- Good office facilities
- Employees
- Startup capital
Choose a Memorable Business Name
When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable.
Some of the catchy business name ideas suitable for a senior home care business in Canada are;
Creative Senior Home Care Business Name ideas
- Pro Care© Senior Home Care, Inc.
- Manitoba Care® Senior Home Care, Ltd.
- Olive Branch© Senior Home Care, Inc.
- Ottawa Elite Nurse® Senior Home Care, Inc.
- Catherine Nixon™ Senior Home Care, Inc.
- Mariah Jared™ Senior Home Care, Ltd.
- Diana Rick© Senior Home Care, Ltd.
- Joy Stephens® Senior Home Care, Inc.
- Catherine Health Care© Senior Home Care, Inc.
- Silver Hands© Senior Home Care, Inc.
- Nova Scotia® Senior Home Care, Ltd.
- Monalisa Peters™ Senior Home Care, Ltd.
- Mississauga Nurses© Senior Home Care, Inc.
- Windsor Professionals® Senior Home Care, Inc.
- Saskatoon Nurses™ Senior Home Care, Inc.
- Halifax Care™ Senior Home Care, Inc.
- The Nest© Senior Home Care, Inc.
- Home Mode® Senior Home Care, Ltd.
- Life Care© Senior Home Care, Inc.
- Kit and Kins© Senior Home Care, Inc.
Register Your Business
What Type of Business Structure is Best for Senior Home Care Business?
There are four alternatives for business structures when creating a senior home care business in Canada, but the one most people in this industry considered is a corporation. This is because a corporation has limited liability—the owners are not liable for the debts or liabilities of the business.
Obtaining funding from investors or financial organizations is easy. Additionally, it’s necessary to be incorporated in order to transact business with governments or other companies, and business income can be distributed in the form of dividends or salaries, allowing you to minimize your tax liability.
Steps to Form a Corporation in Canada
- Whether it’s a federal or provincial/territorial incorporation, you must register your business.
- Contact the Canada Revenue Agency to open a corporate income tax account and obtain a federal business number (CRA).
- In all other Canadian jurisdictions where you want to conduct business, ensure you register as an extra-provincial or extra-territorial corporation.
What Type of License is Needed to Open a Senior Home Care Business in Canada?
- General Business License
- Health and Safety Permit
- Health and Trade License
- Zonal Permits
- Signage Permit
- Operational State Facility Inspections.
What Type of Certification is Needed to Open a Senior Home Care Business in Canada?
These are some of the certifications required if you want to run a senior home care business;
- A registered nurse and licensed practical certificate
- AADNS certification
- Caregiver certification
- Senior care administrators license/assisted living administrator certification
- Director of nursing services
- QAPI certified professional
What Documents are Needed to Open a Senior Home Care Business in Canada?
These are some legal documents that are required if you want to run a senior home care business in Canada;
- Council permit
- Business and liability insurance
- State permit and building approval
- Certificate of incorporation
- Business License
- Business plan
- Employment agreement (offer letters)
- Online terms of use
- The online privacy policy document
- Contract document
- Company bylaws
- Memorandum of understanding (MoU)
Do You Need a Trademark, Copyright, or Patent?
You don’t need to register for intellectual property protection or a trademark if you are starting a senior home care business in Canada. The nature of the business allows you to manage the firm without having any reason to sue anyone for using your intellectual property unlawfully.
Cost Analysis and Budgeting
How Much Does It Cost to Start a Senior Home Care Business in Canada?
The start-up cost for a senior home care business is not fixed, a research carried out indicates that it can range from $150,000 to $350,00 or more; for small and large senior home care businesses in Canada.
What are the Costs Involved in Starting a Senior Home Care Business?
- Business registration fee – $750
- Legal expenses for obtaining licenses and permits – $3,300
- Business consultant fee – $2,500
- Insurance – $8,400
- Rent/lease – $200,000
- Other start-up expenses include stationery ($500), and phone and utility deposits ($1,800)
- Operational cost (salaries of employees, payments of bills et al) – $70,000
- Start-up inventory – $35,000
- Store equipment (cash register, security, ventilation, signage) – $1,750
- Furniture and other office equipment – $150,000
- Website: $600
- Miscellaneous: $2,000
What Factors Determine the Costs of Opening a Senior Home Care Business in Canada?
- The size and type of the senior home care business
- The choice of location
- The required licenses and permits
- The type of facilities
- The additional services offerings
- The cost of furnishing and equipping the senior home care business facilities
- The cost of the insurance policy covers
- The cost of registering the business
- Cost of recruiting and training the staff
- The cost of purchasing and customizing first aid kits, uniforms, and caps for employees.
Do You Need to Build a Facility?
No, you don’t need to build a new facility for a senior home care business. This is because you are expected to take care of your patient (clients) in the comfort of their homes.
What are the Ongoing Expenses of a Senior Home Care Business in Canada?
- Transport
- Utility bills (internet subscriptions, phone bills, signage and software renewal fees et al)
- Rent
- Salaries of employees.
What is the Average Salary of your Staff?
- Chief Executive Office (President) – $65,000 Per annum
- Administrator – $46,034 Per Annum
- Home Caregivers/County Aging Workers – $45,878 Per annum
- Account Officer – $42,000 Per annum
- Front Desk Officer – $38,000 Per annum
- Cleaners – $22,000 Per annum
How Do You Get Funding to Start a Senior Home Care Business in Canada?
- Raising money from personal savings
- Raising money from investors and business partners
- Sell shares to interested investors
- Applying for a loan from your bank
- Pitching your business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
- Source for soft loans from your family members and friends.
Write a Business Plan
Executive Summary
Life Care© Senior Home Care, Inc. is a standard registered senior home care business in Canada that will be located in Windsor, Ontario. We have been able to lease facilities that are big enough to fit into the design of the kind of office and operation base we desire.
At Life Care© Senior Home Care, Inc., our service offerings are made to improve life on a daily basis, give people a platform for their creativity and unique expression, and are necessary for a balanced and stimulating existence. We have everything necessary to provide for the requirements of your loved one in a setting that is secure, cozy, and stimulating.
Services
- Providing homemaker and companion services
- Providing home hospice care
- Providing home nursing care
- Providing in-home therapy.
Mission Statement
Our mission is to establish a senior home care business in Canada that will offer different home services, including personal care, homemaker and companionship, medical social services, physical therapy, dietary and nutritional services, audiology, speech therapy, pharmaceuticals, and intravenous therapy, in addition to skilled nursing in the home.
Vision Statement
Our vision is to become the leading senior home care business – brand in Windsor, Ontario.
Goals and Objectives
The goals and objectives of a senior home care business are to provide different home services, such as personal care, homemaker and companionship, physical therapy, dietary and nutritional services, audiology, speech therapy, pharmaceuticals, and intravenous therapy.
Organizational Structure
- Chief Executive Officer (Owner)
- Human Resources and Admin Manager
- Home Caregivers/County Aging Workers
- Accountants/Cashiers
- Cleaners
- Security Guard
Marketing Plan
SWOT Analysis
Strength:
- Ideal location for a senior home care business in Canada
- Experienced and competent employees and management
- Access to finance from business partners
- Availability of various services and caregivers
- Moderately priced menu
- Reliable and efficient inventory management system.
Weakness:
- Financial constraints may restrict the publicity and branding of the business.
- A new business that will be competing with well-established senior home care businesses and other related businesses in the city.
- Inability to retain experienced and competent employees longer than required during the teething stage of the business.
Opportunities:
- A rise in the number of aging people who would require the services of senior home care
- Online market, services, technology, and the opening of new markets.
Threat:
- The arrival of a new senior home care business within our market space
- Economic uncertainty
- Liability problems
- The government could change its regulatory status and decide to enforce strict laws that can strangulate the new business.
How Do Senior Home Care Businesses Make Money?
Senior home care businesses make money by offering the following services;
- Traditional home healthcare and nursing services
- Home hospice care
- Home therapy services
- Homemaker and personal services
- Franchise
Payment Options
- Payment via bank transfer
- Payment with cash
- Payment via credit cards/Point of Sale Machines (POS)
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
Advertising Strategies
- Place adverts on both print (newspapers and health-related magazines) and electronic media platforms
- Sponsor relevant community-based events/programs for the elderly
- Leverage the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote your senior home care business
- Install your Bill Boards on strategic locations around the city
- Distribute your fliers and handbills in target areas
- Contact households, related businesses, and every adult in the neighborhood where your senior home care business will be located, informing them about the services you render
- List your senior home care business in local directories/yellow pages
- Advertise your senior home care business on your official website, and employ strategies that will help you pull traffic to the site.
- Position our Flexi banners at strategic positions in the location where your senior home care business is located.
Financial Projection
How Much Should You Charge for your Services?
Although local billing rates can vary, the charge in Ontario for home help, personal care, and companionship are between $20.00 and $30.00 per hour. Professional services, such as nursing and therapy, cost substantially more often, between $50 to $60.00 per visit, depending on the type of service.
How Much Profit Do Senior Home Care Business Owners Make a Year?
A report shows that on average, senior home care business owners make anywhere from $45,000 to $150,00 and above a year. They also estimate that the national average is around $81,695 a year.
What Factors Determine the Amount of Profit to Be Made?
- The capacity of the senior home care business
- The types of services offered
- The location of the senior home care business
- The management style of the senior home care business
- The business approach of the senior home care
- The advertising and marketing strategies adopted by the senior home care business
- The number of years the senior home care has been in business
What is the Profit Margin of a Senior Home Care Business Service?
The profit margin for a senior home care business is not usually fixed. Generally, senior home care businesses in Canada make a profit of over 40 percent of their total income.
What is the Sales Forecast?
- First Fiscal Year: $350,000
- Second Fiscal Year: $400,000
- Third Fiscal Year: $450,000
Set Up your Shop/Office
How Do You Choose a Perfect Location for Senior Home Care Business?
- The demography of the location as it relates to aging people
- The demand for senior home care services in the location
- The purchasing power of the residence
- Accessibility of the location and the road network
- The number of senior home care businesses, and, related businesses in the location
- The local rules and regulations in the community/state
- Traffic, parking and security et al
What Province and City are Best to Open a Senior Home Care Business in Canada?
- Windsor, Ontario
- Toronto, Ontario
- Calgary, Alberta
- Quebec City, Quebec
- Charlottetown, Prince Edward Island
- Saskatoon, Saskatchewan
- Nova Scotia, Halifax
- Manitoba, Winnipeg
- Mississauga, Ontario
- Vancouver, British Columbia
- Brampton, Ontario.
What Equipment is Needed to Operate a Senior Home Care Business?
When starting a senior home care business, you would need stethoscopes, blood pressure cuffs, oxygen tanks, first aid kits, and other related equipment that will aid you in carrying out your job.
This equipment can be purchased as fairly used if you are operating on a low budget. In setting up a small office for your residential senior care facility, you will need a computer, printer, home healthcare software, telephones, pager, photocopier, scanner, fax machine, gloves, and uniform.
Hire Employees
When hiring employees for a senior home care business, you should plan to hire a competent chief executive officer, human resource and admin manager, caregivers, front desk officer, cleaners, and security guard.
Launch the Business Proper
No senior home care business currently opens business without first planning an opening party, to formally launch the establishment. With proper launching, you will formally let residents of your community know that it is open for business.
What Makes a Senior home care business in Canada Successful?
- Ability to attract clients on a regular basis
- Competent and dedicated workforce
- The heart to serve and care for people with disabilities
- A good relationship with stakeholders
- Good care techniques and programs.
What Happens During a Typical Day at a Senior Home Care Business?
- The senior home care business is open for the day
- Caregivers are briefed in the office (in some cases though)
- Caregivers provide all the needed support and care to seniors
- Marketing/website upkeep
- Administrative duties are carried out
- The business is closed for the day.
What Skills and Experience Do You Need to Build a Senior Home Care Business in Canada?
- Good managerial and human development skills
- An interest in helping and caring for older people, regardless of their condition
- The ability to communicate clearly and sensitively when talking to people and their families
- Good listening skills
- Great problem-solving skills and the ability to adapt and act accordingly to situations
- Organizational skills
- Experience working as a caregiver or social worker
- Experience in working for a group home for adults.