Finding Your Direction: Four Strategies to Grow Your Home Care Business
Before you can expand your in-home-care franchise, you will want to decide how you plan to grow. You may wish to consult or even revise your home care business plan, which can offer a roadmap for your company. There are also other methods you can use to grow your business, and after assessing your company’s needs and current status, you can decide whether you want to use one strategy or a combination of many.
Sell more of your existing services to your existing customers.
This is the simplest strategy for growth. Loyal customers and referral sources are already familiar with your home care or senior care franchise. Remind existing customers of all the services you offer. It could be that some of them are thinking of expanding their in-home care programs, or some of your clients’ needs are changing. You can use newsletters or other methods to stay in contact with your customers and remind them of everything you can help them with.
Expand to a new market.
Here is where things get complicated. In home care, a new market often means a new geographical location. You will need to decide how you plan to expand to a wider area or open a new location, what the expenses will be, and how you will break into the new market.
Try something new.
Look into new technologies you can integrate into your existing home care business. Develop a new program for a certain group of home care patients, or train employees to offer additional care.
This is possibly the most dangerous of all company growth strategies. If you develop new programs and services to sell in new markets, you run the risk of entering unknown territory. However, an in-home-care business is closely related to senior residential services and other assisted living options. Be sure to carefully research and explore all opportunities for diversification before making a decision.
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