Overview of the company – Name of the company
‘Life Housekeeping’ is the business enterprise’s name.’ The name was selected because it is appropriate to the target market that the company will serve, which is seniors who need assistance with everyday tasks that they are unable to do on their own. The name is simple and straightforward.
A logo and a tagline for your business
Appendix I has the symbol. The brand reflects elder care and provides an indication of the business’s stress-free service. The colors blue and white indicate belief and loyalty, while white denotes perfection, relief, and tranquillity, which are the goals that the business is aiming for.
Because it provides a ‘dedicated service’ to clients, the company tagline is ‘At your service.’ The two seniors’ data also illustrate that seniors are at the core of the commercial business carrier.
The most important feature
The main goal of ‘Life Housekeeping’ is to help seniors with everyday duties that they may no longer be able to do on their own, allowing them to remain independent in their current residence. The company will provide the following services:
Cleaning up the home (e.g. Cleaning, ironing, laundry, dishwashing, housekeeping)
Upkeep of your house and yard
Preparing the meal
Paying bills and shopping
Appointments and excursions are two of the most common types of appointments.
In Applecross, Melville (WA), the business enterprise area will be established as a home office. This is advantageous since there is no rent to pay, resulting in cost savings. Because the services are delivered to the customer’s home, there is no need for a large office area. Because it is close to clients and public transportation, the location is ideal. Melville, which has a high population of over 65s and wealthy bordering areas (East Fremantle and Fremantle), will be the initial location for the business (See Appendix II).
The following are the tax consequences of the company:
Tax on corporations is a fixed rate of 30%.
Income tax rates are around 22 percent for those earning less than $80,000 and approximately 30 percent for those earning more than $180,000.
As a result, the cost of starting a business as a sole trader is greater since the commercial firm pays less taxes. The company anticipates earning less than $80,000 per year and paying a tax rate of about 22%.
Life Housekeeping’s mission is to offer superior, compassionate, and helpful services to seniors who live alone in order to enable them to live independently. The company works hard to provide all services at a reasonable cost, ensuring customer happiness.
Life Housekeeping’s vision for subcontractors and workers is to provide them with a financially and personally rewarding working opportunity. They can make money while doing something worthwhile for the community, and they can learn from the elderly they assist.
The company wants to provide part-time jobs that are flexible for young students who need more money and for those over 50 who want to retire but still want to earn a modest profit and give back to the community. Because profits aren’t the only reason for a company’s existence, service pricing may be more aggressive, and subcontractors will be well compensated.
Life Housekeeping’s mission is to fulfill the company’s vision by providing seniors (65 years and older) with reasonable, compassionate, and stress-free help and care that promotes their independence, well-being, and enjoyment of life.
The firm’s goals are as follows:
Customers will appreciate your exceptional service to elders.
Pricing is reasonable.
The purpose is not only to make money. – Provide youngsters and semi-retired people with flexible employment options – Caregivers will be fairly compensated for their services.
Recognize older citizens’ needs.
The full-time owner will be in charge of administration, advertising, and recruitment. When the company grows, it may be possible to hire a group of full-time employees. The following are the responsibilities and projected working hours of the two workforces.
The carers are the business’s subcontractors who deliver the customers’ real care. The flexibility of a subcontracting agreement benefits both the company and the carers, who may select when, where, and how they want to work.
for the amount of time they want to work and for how long they want to work Because these attributes are what seniors seek for in a home caregiver, the company should ensure that carers are loyal, discrete, compassionate, good-natured, and pleasant when hiring them. Reliability and responsibility, honesty, integrity, politeness, and friendliness were the attributes that most respondents were looking for in a poll conducted by the company. Training, particularly on how to care for elderly, must be provided for younger carers. Even if some schooling is required, semi-retirees are mature enough to grasp what elders want and have more patience. It would also be beneficial to provide caregivers with a code of ethics that includes guidelines for proper behavior, timeliness, and other needs while caring for elderly.
To ensure that subcontracted caregivers are approved to care for elderly, the company will get police certifications before allowing them to do so. In any instance, if the commercial organization is intending to sub-contract from a licensed elderly care provider like Bethanie or Silver Chain, this is a must.
Legal requirements and licensing
The following are the legal prerequisites to run a business as a lone trader:
Get a Tax Identification Number (ITIN)
Get a business number in Australia.
Superannuation contributions should be paid to workers.
The company name should be registered.
As a PAYG account holder, you must register.
Furthermore, the company must follow a set of employment standards, which include:
Having a reasonable work schedule
Employment Standards throughout the United States (NES)
At the workplace, preventing workplace hostility and bullying
‘Life Housekeeping’ has the following marketing goals:
Customize home care services to meet the requirements of elderly.
Increase client awareness of the company
and establish strong relationships with them in order to create a strong customer base.
Ensure that the owner’s purpose, vision, and goals are met.
The intended market
By 2051, the population of people aged 65 and above in Western Australia is expected to have tripled in size. I Ninety percent of older persons live in private housing, such as a house, condo, or home unit, and over 1.4 million individuals need help with at least one hobby (such as housekeeping, property security, and transportation) due to disability or age. ii The company’s primary target market, seniors over the age of 65, tends to be self-sufficient and make a lot of money (self-funded retirees). The secondary target market will be high-income homes willing to pay for someone to come in and look after their older family members. According to the company’s study, 64 percent of respondents said they would pay for anybody to assist them with domestic chores and other services for themselves or their senior loved ones, while another 28 percent said they may.
Furthermore, under the Aged Care Act 1997, an elderly care provider must be certified by the Australian government before receiving subsidies for providing aged care. As a result, it is no longer feasible to target persons who received government subsidies directly. However, partnering with these licensed firms and providing non-medical care as their sub-contractors may be a feasible option.
The Four Ps
*The service will be charged on an hourly basis by ‘Life Housekeeping.’ To cover the costs of the event/appointment and arrangements, the price will be $36/hour.
Because: Business’s competitors are priced around this level,
*the company chose this pricing. Absolute Domestic, a rival, charges $33/hour as a minimum price. However, since this competition solely does cleaning, Life Housekeeping will have an advantage over them.
*The award salary is around $22/hour – To earn a profit, the company must pay subcontractors well ($25/hour), thus it must cost at least $36.
*According to the results of the study, 82 percent of respondents preferred to be paid between $30 and $39 per hour — Product
There are four levels of providing the product (senior home care services):
Life Housekeeping will interview buyers and inquire about the duties that they find the most difficult. The company will build a cordial and trustworthy connection with the customer. The interviewer will inquire about the client’s challenges, as well as how much they are willing to pay and the frequency of the service.
Recruit caretakers and provide training — The company will provide training to all carers on how to appear after elders, such as the need to talk clearly and slowly. When promoting for business, the commercial firm will hire individuals.
Assign tasks — The caregiver/owner will create a schedule to determine which sub-contractor will provide service to the customer. The company will need to find out when the sub-contractors are available and what skills they have. They will also need to consider the distance between the customer’s house and the sub-residence, contractor’s as well as the personalities of the client and the caregiver.
Customer feedback – Following the completion of the service, the company will contact or meet with the customer to determine how well the caregiver did and what improvements should be made for the next time. This is critical since the company can improve its service, resulting in more customers using the company’s services.
The services will be supplied at the customers’ homes since Life Housekeeping is a domestic care service. Outside the domestic office, however, the company will show a signal. The commercial firm will market its services to clients via intermediaries such as radio and Australia Post.
Life Housekeeping will also utilize social media to create a page about the company’s history and vision. A web-page dressmaker will also create a website to showcase the services, vision, and allow potential customers to make inquiries.
The following are examples of Housekeeping’s marketing strategies:
Flyers and business cards
Brochures – To be distributed to area doctor/dental clinics, community centers, seniors’ centers, and stores that market things to help seniors live more independently.
Customers assure that it gives outstanding service, so it spreads via word of mouth.
Advertise on the radio, where the majority of the listeners are seniors, and in senior publications.
Australia Distribute mailers across the neighborhood.
Customers may quickly acquire information about the company through the website.
Facebook referral discount
Direct competition: According to market research (see Appendix III), there are privately held aged care organizations that provide services equivalent to Life Housekeeping. Platinum Healthcare, Dial-an-Angel, and Absolute Domestic are their names.
Absolute Domestic: Despite its low prices, Absolute Domestic only offers two services: cleaning and ironing. The company has a competitive advantage over its competition in that it provides a more comprehensive service, which includes home and lawn upkeep, dinner preparation, shopping, consignment payment, appointments, and trips.
Dial-an-Angel: The services provided by the competition are too broad and no longer specialize in any one field. In the case of Life Housekeeping, we specialize in elderly care and will provide customers with a much more specialized service. In addition, Dial-an-cost Angel’s is rather high when compared to Life Housekeeping and Platinum Healthcare: This is the toughest opponent since it provides the same services as ‘Life Housekeeping’ plus in-home care. They are, nevertheless, rather costly.
The following are the company’s competitive advantages:
Low starting costs and operating costs
It is not only profit-driven, and it provides more first-class service to customers as well as possibilities to reward caregivers.
Because we are privately owned, we are not bound by the recommendations of franchisors or large corporations, and we may personalize our services to meet the requirements of our clients.
Competition that isn’t direct: There are a few government-funded domestic care providers, such as Bethanie and Silver Chain, that provide full-service domestic care (including residential care services and clinical services). Because of government rules and legislation, the company no longer intends to compete with them, which is why the company focuses on self-funded retirees rather than government-funded pensioners. Instead of competing, the company will try to form partnerships with these competitors and subcontract some of the home support services to them.
Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats)
Advantages: A one-stop store that organizes everything
Make all of the company’s decisions.
Providing customized and compassionate service
Funding and ongoing maintenance expenditures are both quite modest.
Pricing can be aggressive now that profits aren’t the main focus.
This is a labor-intensive provider that needs a large number of carers.
There’s a potential that caregivers won’t be trustworthy anymore, and there’s a risk of responsibility.
There is a need for adequate training for carers in elderly care, particularly young caregivers.
Longer life expectancy leads to an increase in the old population.
Rather of living in nursing facilities, more seniors are opting to live freely at home.
Elderly teenagers will be prepared to pay for services to keep their parents in treatment and out of nursing homes.
Collaboration with non-profit groups
Affluent areas should be targeted since their people are more inclined to pay for personal domestic care.
Direct competition from other businesses, such as cleaners and handymen
Competition with nursing homes, especially government-funded nursing homes, which offer comprehensive care.
Modifications to government regulations that require agencies like this to get a license are a possibility.
Seniors may also lack financial resources, and as a consequence, they may be unwilling to spend the funds.
As customers die or go into nursing homes, it’s critical to keep promoting and expanding your customer base.
Make enough money to fund future growth.
During the setup stage, you are debt-free.
Provide the owner with a steady source of revenue.
In the first year of operation, you’ll break even.
The owner will cover the initial expenses with a $30,000 interest-free family loan. The remaining monies will be deposited in the bank to provide for any increases in advertising and marketing costs, as well as other expenditures. Because the business is a single proprietorship, there is no need to pay the owner a salary. Although a home mortgage allows for greater flexibility in terms of payments, the owner’s goal is to pay off the debt as quickly as possible.
COMPUTER SOFTWARE COST ITEM
BUSINESS CARDS FOR $600 (500)
MOBILE PHONE FOR $100
WEBSITE DESIGNER $330 $1,000
Staffing needs are limited since there is just one part-time employee. Subcontractors are instead employed to decrease the firm’s fixed expenses, however this may alter if the company expands and needs a bigger permanent staff.
The following assumptions are made in Appendix IV, the income forecast:
There are no sales in the first month of operation.
With the exception of December and January, when no new customers will be introduced, 10 new clients will be added every month after that.
Each customer will utilize the provider once a week for 2 hours and once a month for 8 hours.
Each consumer will utilize the service once it is up and operating.
The cost of service and the fees imposed by subcontractors remain unchanged.
By the conclusion of the second year, the commercial firm should be able to handle a customer base of 95. Additional administrative workers will be necessary if the organization plans to expand.
A money glide projection, a breakeven assessment, and a revenue forecast are provided in Appendices V, VI, and VII, respectively. The firm is anticipated to break even in its first year of operation. Despite the fact that it did not earn much money in the first year ($3,500), the firm will make a lot more money in the second year ($40,770) based on the sales prediction in Appendix VI. It’s because building a loyal following takes time.
East Fremantle, Fremantle, and South Perth are all rich districts where Life Housekeeping has the potential to flourish. When the firm has established itself, it should expand into the high-income regions of Dalkeith and Nedlands.
The firm will investigate branching into providing clinical care for elders and becoming a government-approved care company in order to offer more complete services to seniors.
Appendix I Statistics on Local Government Areas in Western Australia
City of Melville (where the office is situated) has the highest possibility of attracting a particular target market due to its high median family income ($1,619 – twenty-first best in the state) and big number of seniors living in the region (17,651).
Although Mandurah is a feasible target market, median family wages ($984) are low when compared to Melville ($1,619) and the neighboring districts.
Due to their high median family income and attractiveness as a Life Housekeeping target market, East Fremantle ($1,834), Fremantle ($1,299), and South Perth ($1,606) are possible goal markets after Melville.
Although Life Housekeeping may desire to expand into the districts of Dalkeith, Claremont, and Nedlands, which have high family incomes, it is too far away from its headquarters.