Before you even think about starting an adult day center, make sure you first DEFINE YOUR VISION!
The more clear and precise you are with your vision the more likely you are to achieve it.
Once you first define your vision, then you can ask yourself these 5 questions to get more clear and help you identify next steps!
1. Size of Location
If you lack the funds or experience to open a giant adult day center or you simply don't want to take the risk, it might be best to scale back and start small.
2. Type of ADC
Do you plan to open a medical or non-medical adult day center? Take the time to do your research and see what all is required before making the commitment one way or another.
3. Projections
Once you have determined the size and type of center you want to open, then you can determine your projections. Calculate your projections based on a 2 year period. Make sure to include labor costs, rent, insurance, revenue, and everything in-between to give you the best estimate of what your costs and revenue will be.
4. Budget
Once you've calculated your projections, you can then form a budget. Creating a budget will help you understand the total amount you'll need to borrow.
5. Business Plan
Once you've determined all the previously mentioned steps, then you can put into words and create your business plan. This will be your foundation.
Once you have completed these steps you can take it to the bank and make your dreams your reality.
#seniorcare #adultdaycare #vision
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TIMESTAMPS:
0:00 Intro
0:53 Define your vision
2:24 Money and experience
4:31 The next step
6:11 Borrowing Options
7:15 Scaling back
7:28 Size of location
7:59 Type of ADC
8:27 Projections
8:50 Budget
9:00 Business Plan
10:44 Conclusion
12:06 Outro
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