Profits from adult day care
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A new report lists home health care as one of the top five most profitable franchises in the U. The company surveyed home care owners two years ago and found the fairly new industry was growing fast, but this report, company President Michelle Rowan said, shows it's not just a trend. The report found owners kept their costs low by operating out of their homes, and that the economy did not affect the industry as much as others because the number of seniors needing care continues to grow. Rowan said more families have adults who both are employed, so there's no one to stay home with an aging parent. Home care representatives have appeared before Congress to argue that overtime pay would force them to charge seniors more — and that home care workers already make minimum wage and above. Sheila McMackin, president of the National Private Duty Association, said her group has asked the Labor Department to consider that home care often includes overnight care, and seniors won't be able to afford that if workers receive overtime.
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This provides the bulk of the current financing required. The Break-even Analysis is based on the average of the first-year figures for total sales by units, and by operating expenses. These are presented as per-unit revenue, per-unit cost, and fixed costs. These conservative assumptions make for a more accurate estimate of real risk.
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The daycare business is slated to have some of the fastest employment growth of all service industries through But there are many challenges to starting and operating a daycare center, as well as many rewards besides just financial. Working with children can be fulfilling and inspiring in and of itself. Be sure to ask yourself these questions, and get the answers, before you begin your daycare business:.
The U. Bureau of Labor Statistics projects that day care businesses will have some of the fastest employment growth of all industries through , and, according to new data from Sageworks, child day care businesses in the U. In addition to handling increasing demand, owners of child day care services must also focus on industry regulations, since scrutiny from customers parents and government agencies comes with the territory.