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Hi,Thanks again for being one of the early adopters of Found This – Founder to (future) Founder 2-min actionable reads delivered straight to your inbox.This week we’ve been talking about our homecare competitors, and I thought I’d share our take on this topic.
Competitor analysis – Other homecare companies right? Yes and No. There’s two key areas of competition homecare startups need to think about:
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Supply
Yes – there’s a cohort of staff who’ll move around between homecare businesses. For this group you’ll be competing directly on how many hours you can provide, pay rates, local reputation, employer brand, and flexibility.But the hidden competition is:
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Supermarkets
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Hospitality
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Not working
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Healthcare
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Care Homes
If you’re not offering an employment package that offers people something better than the wider competition, you’re always going to struggle to recruit the best people into your teams. This affects your growth, brand, quality and local reputation.
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Demand
The care ecosystem is much more complicated than just your most direct competition. As a homecare start-up, you’ll be competing with:
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Other homecare companies, obviously
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National live-in care companies
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Self employed carers
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Informal help from neighbours, cleaners, etc
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Families choosing to pick up the slack
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Care homes
When you’re doing your business plan, you don’t want to ignore these other options that families look at, because you need to understand where you fit into the mix, and the pros and cons of your service vs. the rest.
Daunting right? Yes and no – homecare is one of the most flexible and reliable models of care, and if you can deliver that service with your own unique approach that adds value to the client and their family, you’re on the right track. If you’re considering taking the plunge and starting up your own homecare business, here’s a short blog we put together a couple of years ago about some of the things to think about.Are there other areas you’d like me to cover in the Found This series? International Recruitment? Marketing tactics? Recruitment? Ops? Hit reply and let me know.Best,BenPS: Click here if you’d like to unsubscribe from this list.
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