Upcoming Event: Starting a Care Agency One Day Workshop in London
Find the answers to the questions we are asked the most
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The total investment in our business start-up packages is £4,500 (Inc VAT), and they cover virtually everything you need to get started. Our start-up packages are far more cost effective than starting yourself and using different suppliers or purchasing a care franchise.
There are many factors to take into account when working out how much working capital you need to start up. This includes things such as how quickly you were looking to grow, the services you wanted to offer, and if you were to be the director and registered manager or needed to hire someone, however we recommend working capital of between £10,000 - £30,000.
With our client guarantee we will help to generate that first bit of revenue quickly, however you will need capital to cover initial costs and further grow your business.
We are able to offer a payment plan on all packages split over 3 months. This is a 50% deposit payment ahead of getting started, with two separate payments of 25% after month one, and 25% after month two, from the date you get started with us
Aside from options like personal loans, if you don't have the full amount of capital to start your business, there are a number of other funding options.
The British Business Bank offers government backed startup loans. It is worth noting that these are personal loans, but can be fantastic if you were unable to access funding from your own bank and have exhausted other options. More can be found here: https://www.startuploans.co.uk/. As part of the service we can help you to plan for, make applications and access funding.
As a standard part of our startup packages we will put together a full 5 year business plan and a set of robust financial forecasts, however we will also discuss funding options and can help to support specific funding and finance applications to help you run and grow your business.
Although our packages include pretty much everything you need, there are other costs to think about. We have listed these below:
Office - do you plan to have an office from home, a virtual office or lease a physical premises. If you have a physical premises you will need to take into account any business rates, service charges, as well as internet & utilities (if applicable)
Staff salaries - if you need to employ a registered manager, then their salary would need to be taken into account
Insurance - you will need to take out insurance policies, at minimum public liability, professional indemnity and employers’ liability. You may also choose to opt for additional policies which can be great to have but aren’t required, such as business interruption insurance, malpractice, buildings & contents cover, loss of registration and directors’ liability
Postage & stationary - you will need stationary and also need to post documents to staff, and new clients
Accountancy - support with bookkeeping (if you choose for an accountant to do this), as well as support filing accounts and submitting corporation tax returns
CQC fees - a mandatory fee paid annually to CQC
Marketing costs - depending on the type of marketing you will be doing, you will need a budget set aside for marketing until you are generating a profit
Staffing costs
Training – you will need to provide all staff with mandatory care training, either in person, or blended (in person & online)
Uniforms & ID Cards – if you plan to provide uniforms either branded or generic
DBS Checks - the cost of completing a DBS check for each new staff is £52 on average. You may choose to ask staff to pay for this if they are self employed, however to speed up the process it can be better to foot this cost as a business
If you hold a healthcare qualification or have a care background, and hold or are working towards L5 in Management of Health & Social Care, then you will be able to register as a manager and will not need to employ someone. If you have no experience in care from a management or clinical care perspective, then it's likely you will need to employ or partner with someone with the correct credentials.
Our team are here at all times to support you with any of the products we provide to you, and with our client guarantee we will help you to recruit your first staff members and onboard your first set of clients.
Beyond this we want to keep up with clients we have supported, so will never charge for advice or a chat.
Whatever point you are in your business journey our team will be there to assist, and if you need tailored support we also work with a network of consultants across the UK who we can point you to for support with ongoing compliance and mock CQC inspections.
When you get started with The Care Partnership our fees will be billed to you as an individual. All of our fees are for business products & consultancy, so are fully tax deductible. Once you get started costs can be recouped from your business as ‘pre-incorporation expenses'.
Our team are experts in care sector marketing, and as part of our support we will help in getting your new care service visible in the marketplace.
Our client guarantee involves supporting you with recruiting you first set of staff members, and onboarding your first five fee paying clients.
We do this through a number of different ways from helping to register with different care brokers and directories, getting you in front of care-seekers locally, as well as using our own tools and helping in running your own initial campaigns to generate enquiries from local families in need of care.