April 28, 2025 • 20 mins
Join us for a special Ask the Home Care Expert live Q&A session with Julio Briones, CADDCT, CSP, CDP — a nationally recognized consultant and strategist in the home care and senior care industry. In this interactive episode, Julio answers real questions from listeners, offering expert advice on agency growth, operations, compliance, and strategic planning. Whether you're just starting out or looking to scale your business, this conversation is packed with actionable insights you won’t want to miss. Want to learn more about how The Briones Group can help you build, grow, or optimize your senior care business?
Visit https://www.thebrionesgroup.com today!
Visit https://www.thebrionesgroup.com today!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:06):
Good afternoon, and welcome to the morning meeting. This is
our live Q and A Ask the Homecare Expert segment.
We join us every Wednesday at two pm Eastern Standard time,
and we will go over any and all of your
questions just regarding regarding homecare business. So let's go ahead
(00:32):
and get started. You know, first of all, they're in
the comments below. Once this video is rebroadcast, we're gonna
put links to our website into a few other bits
of information. Don't forget you can always join our Facebook
group Private Duty Homecare, Prepare, Plan Rebuild Again. I'll put
the links. Actually, I'm gonna go ahead and put the
(00:54):
link to that in the chat box right next door
over here, So anyone who has any questions please feel
free drop the questions as we go along. I know
this channel is still relatively new, so I don't have
a lot of a lot of live people coming on
(01:15):
as we broadcast, but we will have a replay of this,
so if you didn't catch us before, you'll catch us now.
There's the link to the group. Anyone who wants to join.
We are always welcoming home care owners, business developers, or
anyone interested in this industry. So all right, so let's
(01:37):
get started. Our first question from the pre submitted forms,
it actually comes from Jason. He didn't leave the company
he's with, but he has a home care company in
California apparently, So all right, the question is how do
(02:03):
I set up a budget for my marketing? And oh, well,
it's actually not that complicated, Jason. All right. So when
it comes to home care marketing, I prefer to look
at it from a couple of different points of view.
We have the business development efforts, which is where we
(02:25):
are going to focus and concentrate on going out and
we are going to see specific places, different facilities, you know,
different you know, different what you call it, you know, facilities,
different professionals, different people what I call our in group,
(02:49):
our influencers network. These will be you know, carpenter's handyman,
home remodelers, real estate agents, social works, nurses, administrators, executive directors,
and other marketing and salespeople that they work with us
on in different ancillary businesses. You know, we're gonna meet
(03:16):
with them and we're gonna develop our business. This is
why it is a business development effort. Okay, The second
part of this comes from our our marketing are our
more modern definition of marketing, which is, you know, when
(03:37):
we are talking about the digital stuff, are you buying leads?
Are you buying you know? Are you buying Google ads?
Pay per click? What what are we doing? You know
that that's the marketing mix. I actually we did a
whole nother video on this not too long ago. Uh
(03:59):
it's our Tech Minute homecare training. Please feel free to
go and check that video out now. As far as
your marketing budget, since we are looking at two very
specific and very different avenues that we're trying to tackle
when it comes to marketing and business development, we also
(04:21):
want to sit and take a look at what's going
on otherwise. So let's handle the business development part. In
business development, our budget is going to break down to
a couple of different things. One is our marketing materials.
That's our brochures, business cards, the pens, tote bags, any
(04:45):
other branded materials that we are going to need to
purchase on a consistent and regular basis. This budget should
be broken down quarterly and it's not an expense. We
need to look at this as an investment in our business. Okay,
So if we are going to buy let's say, branded
(05:08):
donut boxes, which are an item that I happen to
be a big fan of, and the only place we
can find it is that they want us to buy
a hundred of them, and it's going to cost like
three hundred dollars. I don't know. You please shop around.
I'm not promoting any particular company or setting anyone's prices
for them. This is just very random, off the cuff stuff. Okay,
(05:29):
So let's let's say we are looking at this, and
now while we're going to do that, it's not one
hundred dollars a month that you're taking out. You have
to break it down to the point where you're looking
at it over the course of a quarter. One dollars
a month divided by three, You know, three hundred dollars
(05:51):
a quarter divided by three would be one hundred dollars
a month as an investment. Now, the same thing works
with anything else. If these replenishable items, they have to
be looked at as an investment over the course of
a quarter. Now, I do think you should keep a
running inventory of what items you're giving out. And here's
the thing, please do not do like many businesses, in
(06:16):
service businesses and especially in the home care industry don't
do what many do, and they have this beautiful inventory
of marketing materials. It's they've spent thousands of dollars and
it's in a supply closet, beautifully organized, and they never
give it out. If you are going to take the
(06:37):
expense of buying these materials, you must give them out.
That's one piece of the budget. But your average on
that should you know? It depends? All right, I'm not
going to set a price. This is This is on
an individual basis. If anyone does want a strategy call,
I'll put the links below. When this is all done
(06:58):
on how you can schedule, then we can discuss that
particular subject. The next portion of your spend Now this
one should be monthly. This is broken into two parts.
You have a discretionary business development budget and an incidental
(07:21):
business development budget. Okay, so what do I mean by that?
This is very simple when you are calculating what your
expenses are or when you are developing your business development strategy. Okay,
you have to keep in mind what it is that
(07:45):
your objectives are. If your goal is to do a
let's say a lunch for a facility every week, plan accordingly,
if your goal is to do to do one to
a month plan accordingly, so you're your discretionary budget is
(08:09):
essentially you know the cost of providing a full lunch
for let's say an average of ten to fifteen people,
because that's how many people will will show up or
potentially in your average facility. Doesn't mean that's what you're
going to spend or how many people you're gonna be
(08:31):
buying lunch for. But this is what you should budget
for just in case, because you know, we'll get into
the hy in a moment. But the cost of that
times the number of lunches you expect to give over
the course of a month. So let's say you are
following the strategy of doing one event or lunch or
(08:54):
lunch and learn or whatever it is per week. Okay,
if that that is your goal, and let's say I'm
just gonna I'll give a free plug to Panera. Let's
say you were going to use Panera to buy the lunch.
Let's for argument's sake, it's about if I believe in
most places, it's about one hundred and twenty hundred and
(09:16):
thirty dollars to do a full lunch with drinks and everything.
Included including the paper plates and the tablecloth and all
of that. So one hundred and thirty dollars for one lunch,
and you were going to do four, you would have
a budget of five hundred and twenty dollars as your
(09:37):
discretionary budget. Now a add to that about ten percent
per week. So if it's five hundred and twenty dollars,
then you would have to allocate about fifty two dollars
for whoever your business developer, a marketing person, or whoever
is doing there. Even for yourself, it doesn't make a difference.
(09:58):
If you're an owner market have that ten percent on
a weekly basis available it's about fifty bucks so that
you can buy incidentals as you go along, Okay, meaning
if you find a receptionist that you are trying to
become friends with, so she can finally pick up that
(10:18):
phone and get you an appointment with the social worker
directly because she's they're not answering your calls anymore, but
they insist on an appointment. If you're trying to befriend
this person. To get past the gay peeper, you got
to be able to buy a cup of coffee. That
two dollars are one of the best investments you'll ever make.
(10:39):
So you do all of this moving on you you
get things going in the right direction, and from there
you make your decision. You know, you add it up
and that should be the business development budget for that
your budget, it's usually about one percent of your annual
(11:03):
your annual revenue should be dedicated to to your to
your marketing budget broken down quarterly, and that's that's your
promotional stuff. The second part is your discretionary budget, where
(11:24):
you're going to be doing, you know, planning for the lunches.
Take the average cost of lunch for about fifteen people,
and you divide that, you know, multiply that by the
number of lunches you intend to do. That should be
enough to cover your budget for anything going on, like
if you want to host a casino night co sponsor,
if you want to host a networking event, you just
(11:45):
adjust the number of lunches that you have scheduled. You
may need to add to that budget during key times
of the year, such as March, during Social Workers Month
maybe you know in October, or you have physical therapists
an occupational therapy month, or during the holiday days between
November and January, where you have to worry about Thanksgiving, Christmas,
(12:06):
Hanukkah and Kwanza, so you make sure you have all
your bases covered. And depending on the area you are
located in, you may want to do something nice for
the aid during you know, after the period of Ramadan
is over for the community. So it really depends on
what your goals on objectives are and what exactly you
(12:28):
intend to do to promote and grow your business. Okay,
on another note, all right now, then I'll go again
and I'm sorry, And finally to wrap up that subject,
the ten percent of your monthly budget should be allotted
every week in order for your whoever's going out there
(12:51):
and you know, shaking hands and kissing babies, for whoever's
doing your actual business development, to be able to take
things immediately. Buy that coffee or special treat for the gatekeeper.
If you walk into a facility and find out it
is the social worker's birthday. You want to be able
to go buy a cake or some cupcake or something
(13:12):
nice on the spot without having to worry about the
budget and worry about how you're going to resolve things.
If it's already a loted encountered for it will make
your life a lot easier. Now on the other end,
we are looking at your marketing, your digital marketing efforts.
How much are you spending on pay per click, Facebook ads,
(13:34):
possibly LinkedIn ads depending on how you're doing this, and
Google pay per click and Bring or Microsoft Ads programs
or any other leads that you're purchasing, And that really
depends on what stage you are in your business. If
you are newer in the industry and you've just opened
your doors, you really want to account for probably close
(13:56):
to one thousand dollars a month for this at least
to get ramped up because what you're looking for and
again I did an entire video on your marketing mix.
Please take a look and look for that video so
that I get into a little bit more detail. But essentially,
you want to set number of leads every month, and
as the leads start coming in from your business development efforts,
(14:21):
they are going to start requiring less resources in your
marketing effort. It's never going to go away because you're
going to make adjustments month to month based on your
revenue goals, the growth of your business. And you know
what's actually going on, Like right now, a lot of
my clients are increasing the amount going out on pay
(14:46):
per click and other referral generators when and before the
pandemic there was a lot less of a spend on
that because the need was a lot less, you know,
and those of my clients have you know that we've
managed to work out a plan and a strategy to
(15:06):
minimize or reduce that cost of pay per click because
they have a little bit more of an aggressive marketing
approach or fleet on the ground approach, or they have
a well established referral network that they don't need as
much on that point. So that's something I can't really
give you a solid answer simply because it's just it
(15:33):
really depends on where you're on the business. And you
didn't leave enough on the questionnaire form. So those of
you who are looking to submit questions for future episodes
or we, let mean go ahead and grab the link
here so that this way, I'm also going to include
(15:54):
it in the description below for anybody watching the replay
of this. But it's important that if you guys are
going to submit, please please do everybody a favor, be specific.
I think I included that in the instructions. Let me
take a little bit of form. Yeah, I leave on
this form you can ask up to three questions, you know,
(16:15):
and I'm more than happy to answer them. And as
if you're watching this, hopefully you understand that I am
going to answer them in detail. But if I don't
have the right information, I can't, So thank you very
much for submitting your question. I hope I answered it
thoroughly enough for you, and moving on, I'm not going
(16:40):
to answer. I have two more questions. I'm saving them
for down the road in case I need more. So
I'm just going to give you, guys a quick tip
based on the question I was asked today. You know
number one, Please again, like, give this video alike if
you like the live content, if you want me to
keep doing this, also share it with anyone else who
(17:02):
might benefit from this information. And please subscribe to the channel,
and don't forget to hit. I want to say it's
over here somewhere the notification bell so that way you
no longer going live and you know, but just in case,
we are. As of for the time being, we are
going live every Wednesday at two pm. And I really
(17:25):
really do appreciate you guys watching. So final tip when
it comes to doing this, it doesn't matter what stage
you are in the business. Your influencers network is the
most important asset that you have. It will allow you
to grow your business. Look, it's really not that complicated.
(17:46):
You're either you're either going to build your business or
you're not. There is no half assing it. Look, at
the end of the day, you're in the first year
of opening. You you should be at a point by
the first twelve months. But when you look back based
on your effort, and we're talking about private pay only,
I'm not I'm not talking about the people that take
(18:08):
state waivers or bill medicaid or anything like that. This
is the private pay model only. At the end of
year one, your business should be generating between two hundred
and fifty and roughly three hundred and fifty thousand dollars.
If you want to be on par that that's an underperformer, okay.
(18:29):
If this is an average, okay, I mean you're not
doing great, but you're not doing terrible. And you know,
usually by the year three you should be at somewhere
between seven to fifty you know, up to about one
point five million. And of course net profits will vary
greatly depending on if you're a franchise or if you
are a privately owned company, now all of that, and
(18:55):
really it's even more importantly, it's completely irrelevant how much
you're building out if you're not putting any money in
your pocket. And that is my tip. Yeah, if you're
not there, pick up, pick up the slack. Figure out
where you're going wrong. Where are your business development efforts failing?
(19:16):
You know, is it your recruitment that's slacking and you
can't cover cases or you're not getting enough cases? Do
we have to adjust your marketing mix? Take a solid
look at that. And then secondarily, really take a hard, hard,
honest look at your net margins. Okay, because if your
(19:39):
buildable hours look great, but you're going broke every month
and can't make payroll, there's something off. And how your
what your mix looks like? All right, So this is
it for our live stream today. Thank you all very
much for watching. Once again, please do not forget to
subscribe and hit that notification bell. Also share this with people. Look,
(20:06):
I love doing these videos, I love answering your questions,
and this is a very free resource for people to
come and check out. And I know that there's people
out there that have decided to go into the private
home care space and just can't really afford a consultant.
Here's a good resource. Share it with your friends, share
it with people that can benefit from this. Thanks again,
(20:28):
and we'll see you again next Wednesday at two pm
live for your ask.
Good afternoon, and welcome to the morning meeting. This is
our live Q and A Ask the Homecare Expert segment.
We join us every Wednesday at two pm Eastern Standard time,
and we will go over any and all of your
questions just regarding regarding homecare business. So let's go ahead
(00:32):
and get started. You know, first of all, they're in
the comments below. Once this video is rebroadcast, we're gonna
put links to our website into a few other bits
of information. Don't forget you can always join our Facebook
group Private Duty Homecare, Prepare, Plan Rebuild Again. I'll put
the links. Actually, I'm gonna go ahead and put the
(00:54):
link to that in the chat box right next door
over here, So anyone who has any questions please feel
free drop the questions as we go along. I know
this channel is still relatively new, so I don't have
a lot of a lot of live people coming on
(01:15):
as we broadcast, but we will have a replay of this,
so if you didn't catch us before, you'll catch us now.
There's the link to the group. Anyone who wants to join.
We are always welcoming home care owners, business developers, or
anyone interested in this industry. So all right, so let's
(01:37):
get started. Our first question from the pre submitted forms,
it actually comes from Jason. He didn't leave the company
he's with, but he has a home care company in
California apparently, So all right, the question is how do
(02:03):
I set up a budget for my marketing? And oh, well,
it's actually not that complicated, Jason. All right. So when
it comes to home care marketing, I prefer to look
at it from a couple of different points of view.
We have the business development efforts, which is where we
(02:25):
are going to focus and concentrate on going out and
we are going to see specific places, different facilities, you know,
different you know, different what you call it, you know, facilities,
different professionals, different people what I call our in group,
(02:49):
our influencers network. These will be you know, carpenter's handyman,
home remodelers, real estate agents, social works, nurses, administrators, executive directors,
and other marketing and salespeople that they work with us
on in different ancillary businesses. You know, we're gonna meet
(03:16):
with them and we're gonna develop our business. This is
why it is a business development effort. Okay, The second
part of this comes from our our marketing are our
more modern definition of marketing, which is, you know, when
(03:37):
we are talking about the digital stuff, are you buying leads?
Are you buying you know? Are you buying Google ads?
Pay per click? What what are we doing? You know
that that's the marketing mix. I actually we did a
whole nother video on this not too long ago. Uh
(03:59):
it's our Tech Minute homecare training. Please feel free to
go and check that video out now. As far as
your marketing budget, since we are looking at two very
specific and very different avenues that we're trying to tackle
when it comes to marketing and business development, we also
(04:21):
want to sit and take a look at what's going
on otherwise. So let's handle the business development part. In
business development, our budget is going to break down to
a couple of different things. One is our marketing materials.
That's our brochures, business cards, the pens, tote bags, any
(04:45):
other branded materials that we are going to need to
purchase on a consistent and regular basis. This budget should
be broken down quarterly and it's not an expense. We
need to look at this as an investment in our business. Okay,
So if we are going to buy let's say, branded
(05:08):
donut boxes, which are an item that I happen to
be a big fan of, and the only place we
can find it is that they want us to buy
a hundred of them, and it's going to cost like
three hundred dollars. I don't know. You please shop around.
I'm not promoting any particular company or setting anyone's prices
for them. This is just very random, off the cuff stuff. Okay,
(05:29):
So let's let's say we are looking at this, and
now while we're going to do that, it's not one
hundred dollars a month that you're taking out. You have
to break it down to the point where you're looking
at it over the course of a quarter. One dollars
a month divided by three, You know, three hundred dollars
(05:51):
a quarter divided by three would be one hundred dollars
a month as an investment. Now, the same thing works
with anything else. If these replenishable items, they have to
be looked at as an investment over the course of
a quarter. Now, I do think you should keep a
running inventory of what items you're giving out. And here's
the thing, please do not do like many businesses, in
(06:16):
service businesses and especially in the home care industry don't
do what many do, and they have this beautiful inventory
of marketing materials. It's they've spent thousands of dollars and
it's in a supply closet, beautifully organized, and they never
give it out. If you are going to take the
(06:37):
expense of buying these materials, you must give them out.
That's one piece of the budget. But your average on
that should you know? It depends? All right, I'm not
going to set a price. This is This is on
an individual basis. If anyone does want a strategy call,
I'll put the links below. When this is all done
(06:58):
on how you can schedule, then we can discuss that
particular subject. The next portion of your spend Now this
one should be monthly. This is broken into two parts.
You have a discretionary business development budget and an incidental
(07:21):
business development budget. Okay, so what do I mean by that?
This is very simple when you are calculating what your
expenses are or when you are developing your business development strategy. Okay,
you have to keep in mind what it is that
(07:45):
your objectives are. If your goal is to do a
let's say a lunch for a facility every week, plan accordingly,
if your goal is to do to do one to
a month plan accordingly, so you're your discretionary budget is
(08:09):
essentially you know the cost of providing a full lunch
for let's say an average of ten to fifteen people,
because that's how many people will will show up or
potentially in your average facility. Doesn't mean that's what you're
going to spend or how many people you're gonna be
(08:31):
buying lunch for. But this is what you should budget
for just in case, because you know, we'll get into
the hy in a moment. But the cost of that
times the number of lunches you expect to give over
the course of a month. So let's say you are
following the strategy of doing one event or lunch or
(08:54):
lunch and learn or whatever it is per week. Okay,
if that that is your goal, and let's say I'm
just gonna I'll give a free plug to Panera. Let's
say you were going to use Panera to buy the lunch.
Let's for argument's sake, it's about if I believe in
most places, it's about one hundred and twenty hundred and
(09:16):
thirty dollars to do a full lunch with drinks and everything.
Included including the paper plates and the tablecloth and all
of that. So one hundred and thirty dollars for one lunch,
and you were going to do four, you would have
a budget of five hundred and twenty dollars as your
(09:37):
discretionary budget. Now a add to that about ten percent
per week. So if it's five hundred and twenty dollars,
then you would have to allocate about fifty two dollars
for whoever your business developer, a marketing person, or whoever
is doing there. Even for yourself, it doesn't make a difference.
(09:58):
If you're an owner market have that ten percent on
a weekly basis available it's about fifty bucks so that
you can buy incidentals as you go along, Okay, meaning
if you find a receptionist that you are trying to
become friends with, so she can finally pick up that
(10:18):
phone and get you an appointment with the social worker
directly because she's they're not answering your calls anymore, but
they insist on an appointment. If you're trying to befriend
this person. To get past the gay peeper, you got
to be able to buy a cup of coffee. That
two dollars are one of the best investments you'll ever make.
(10:39):
So you do all of this moving on you you
get things going in the right direction, and from there
you make your decision. You know, you add it up
and that should be the business development budget for that
your budget, it's usually about one percent of your annual
(11:03):
your annual revenue should be dedicated to to your to
your marketing budget broken down quarterly, and that's that's your
promotional stuff. The second part is your discretionary budget, where
(11:24):
you're going to be doing, you know, planning for the lunches.
Take the average cost of lunch for about fifteen people,
and you divide that, you know, multiply that by the
number of lunches you intend to do. That should be
enough to cover your budget for anything going on, like
if you want to host a casino night co sponsor,
if you want to host a networking event, you just
(11:45):
adjust the number of lunches that you have scheduled. You
may need to add to that budget during key times
of the year, such as March, during Social Workers Month
maybe you know in October, or you have physical therapists
an occupational therapy month, or during the holiday days between
November and January, where you have to worry about Thanksgiving, Christmas,
(12:06):
Hanukkah and Kwanza, so you make sure you have all
your bases covered. And depending on the area you are
located in, you may want to do something nice for
the aid during you know, after the period of Ramadan
is over for the community. So it really depends on
what your goals on objectives are and what exactly you
(12:28):
intend to do to promote and grow your business. Okay,
on another note, all right now, then I'll go again
and I'm sorry, And finally to wrap up that subject,
the ten percent of your monthly budget should be allotted
every week in order for your whoever's going out there
(12:51):
and you know, shaking hands and kissing babies, for whoever's
doing your actual business development, to be able to take
things immediately. Buy that coffee or special treat for the gatekeeper.
If you walk into a facility and find out it
is the social worker's birthday. You want to be able
to go buy a cake or some cupcake or something
(13:12):
nice on the spot without having to worry about the
budget and worry about how you're going to resolve things.
If it's already a loted encountered for it will make
your life a lot easier. Now on the other end,
we are looking at your marketing, your digital marketing efforts.
How much are you spending on pay per click, Facebook ads,
(13:34):
possibly LinkedIn ads depending on how you're doing this, and
Google pay per click and Bring or Microsoft Ads programs
or any other leads that you're purchasing, And that really
depends on what stage you are in your business. If
you are newer in the industry and you've just opened
your doors, you really want to account for probably close
(13:56):
to one thousand dollars a month for this at least
to get ramped up because what you're looking for and
again I did an entire video on your marketing mix.
Please take a look and look for that video so
that I get into a little bit more detail. But essentially,
you want to set number of leads every month, and
as the leads start coming in from your business development efforts,
(14:21):
they are going to start requiring less resources in your
marketing effort. It's never going to go away because you're
going to make adjustments month to month based on your
revenue goals, the growth of your business. And you know
what's actually going on, Like right now, a lot of
my clients are increasing the amount going out on pay
(14:46):
per click and other referral generators when and before the
pandemic there was a lot less of a spend on
that because the need was a lot less, you know,
and those of my clients have you know that we've
managed to work out a plan and a strategy to
(15:06):
minimize or reduce that cost of pay per click because
they have a little bit more of an aggressive marketing
approach or fleet on the ground approach, or they have
a well established referral network that they don't need as
much on that point. So that's something I can't really
give you a solid answer simply because it's just it
(15:33):
really depends on where you're on the business. And you
didn't leave enough on the questionnaire form. So those of
you who are looking to submit questions for future episodes
or we, let mean go ahead and grab the link
here so that this way, I'm also going to include
(15:54):
it in the description below for anybody watching the replay
of this. But it's important that if you guys are
going to submit, please please do everybody a favor, be specific.
I think I included that in the instructions. Let me
take a little bit of form. Yeah, I leave on
this form you can ask up to three questions, you know,
(16:15):
and I'm more than happy to answer them. And as
if you're watching this, hopefully you understand that I am
going to answer them in detail. But if I don't
have the right information, I can't, So thank you very
much for submitting your question. I hope I answered it
thoroughly enough for you, and moving on, I'm not going
(16:40):
to answer. I have two more questions. I'm saving them
for down the road in case I need more. So
I'm just going to give you, guys a quick tip
based on the question I was asked today. You know
number one, Please again, like, give this video alike if
you like the live content, if you want me to
keep doing this, also share it with anyone else who
(17:02):
might benefit from this information. And please subscribe to the channel,
and don't forget to hit. I want to say it's
over here somewhere the notification bell so that way you
no longer going live and you know, but just in case,
we are. As of for the time being, we are
going live every Wednesday at two pm. And I really
(17:25):
really do appreciate you guys watching. So final tip when
it comes to doing this, it doesn't matter what stage
you are in the business. Your influencers network is the
most important asset that you have. It will allow you
to grow your business. Look, it's really not that complicated.
(17:46):
You're either you're either going to build your business or
you're not. There is no half assing it. Look, at
the end of the day, you're in the first year
of opening. You you should be at a point by
the first twelve months. But when you look back based
on your effort, and we're talking about private pay only,
I'm not I'm not talking about the people that take
(18:08):
state waivers or bill medicaid or anything like that. This
is the private pay model only. At the end of
year one, your business should be generating between two hundred
and fifty and roughly three hundred and fifty thousand dollars.
If you want to be on par that that's an underperformer, okay.
(18:29):
If this is an average, okay, I mean you're not
doing great, but you're not doing terrible. And you know,
usually by the year three you should be at somewhere
between seven to fifty you know, up to about one
point five million. And of course net profits will vary
greatly depending on if you're a franchise or if you
are a privately owned company, now all of that, and
(18:55):
really it's even more importantly, it's completely irrelevant how much
you're building out if you're not putting any money in
your pocket. And that is my tip. Yeah, if you're
not there, pick up, pick up the slack. Figure out
where you're going wrong. Where are your business development efforts failing?
(19:16):
You know, is it your recruitment that's slacking and you
can't cover cases or you're not getting enough cases? Do
we have to adjust your marketing mix? Take a solid
look at that. And then secondarily, really take a hard, hard,
honest look at your net margins. Okay, because if your
(19:39):
buildable hours look great, but you're going broke every month
and can't make payroll, there's something off. And how your
what your mix looks like? All right, So this is
it for our live stream today. Thank you all very
much for watching. Once again, please do not forget to
subscribe and hit that notification bell. Also share this with people. Look,
(20:06):
I love doing these videos, I love answering your questions,
and this is a very free resource for people to
come and check out. And I know that there's people
out there that have decided to go into the private
home care space and just can't really afford a consultant.
Here's a good resource. Share it with your friends, share
it with people that can benefit from this. Thanks again,
(20:28):
and we'll see you again next Wednesday at two pm
live for your ask.
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