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Hi from rainy Poole. This week we’ve been talking to prospective partners about the best area for them to start their business in. Although there’s a lot of different factors, there’s one we’re going to look at here, and that is competition.
Homecare is hidden – most large providers don’t have a high street presence, few have branded cars, and (like us) have dress codes rather than uniforms.Picture the scene: You’re starting out on your homecare start-up journey and are doing business planning 101: Market Research. You start with a search on the www.cqc.org.uk website for ‘Homecare Agencies’’ (the category you’re looking for by the way) and there are 138 other providers within 10 miles of your possible office location. (That’s the real number of competitors for our directly owned office in Bournemouth and Poole)
You’re thinking of packing it all in. Why enter the market as number 139?
Before you do that, consider:
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Are your competitors providing the same model of care that you’re planning to?
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CQC ratings – how many of them are Outstanding, Good, or below?
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Who are the main players on the review site homecare.co.uk?
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What is the potential market size in your area? Franchisors like us have access to postcode level social-economic data but the ONS can give you some good intel.
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Mystery shop them; are they kind, knowledgeable, and professional on the phone, and follow up promptly with compelling info, or do they not answer the phone, sound harried and promise to call back and never do?
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Do they actually have capacity to take new clients on? Well-run companies with plenty of capacity should be following up on enquiries, but this is very rare in this sector.
Here’s a simple sheet to capture some useful info you’ll need later in the business planning process.
Our take at GoodOaks is that competition is good and shows that there is a need for the service in this area.
The patchy quality of the care sector is something we’re looking to help change, but it also means it is easier to surprise on the upside in terms of levels of service, responsiveness and quality.
You just need to be distinctive and confident about how you’re different from the other 139 competitors. Some care companies are no frills and cheap. Others offer a concierge service alongside their care. We provide care the GoodOaks Way and our partnership-led care model empowers clients and their families to stay in the home they love.If you’ve made it to the bottom of this email – thank you! I hope it was interesting. Do you have any other questions or topics you’d like looked at? Just hit reply and I will get back to you 🙂 Have a great weekend, Ben AshtonFounderGoodOaksNot what you wanted to recieve? unsubscribe from this list.
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