Table of Contents About the Author…………………………………………………………….2 Introduction……………………………………………………………………3 Research………………………………………………………………………...4 Business Plan…………………………………………………………………..5 Market Analysis……………………………………………………………….6 Capital……………………………………………………………………………7 What is an Adult Day Center………………………………………………8 Entity…………………………………………………………………………….9 Know your State…………………………………………………………….10 Social vs. Medical Model………………………………………………….11 Location………………………………………………………………………..12 Funding………………………………………………………………………..13 Do’s…………………………………………………………………………....14 5 Don’ts……………………………………………………………….……….15 Got It……………………………………………………………………………16 - 1 - www.thenurseswhocare.com About the Author Teberah Alexander (Nurse T); a long- time nurse and entrepreneur renowned for her combination of compassion and inspirational teaching style. Having graduated from Michigan State University in 2003 with a bachelor’s degree in Nursing, Teberah spent the early part of her career serving patients in Labor and Delivery, Cardiac, ICU and the Long-Term Care Unit. She later established Compassionate Home Care Services (2006); a company dedicated to supporting older people whose health needs were otherwise ignored. Discovering a passion for improving the quality of life for dementia patients, she became a Certified Dementia Practitioner and established Kathelene’s Adult Daycare Center (2013) in memory of her grandmother, Kathelene. Nurse T’s other businesses consist of Excelling Nursing Academy (CNA School 2017), Caregiving Staffing Solutions (2018), and Kathelene’s Senior Village (Independent Senior Apartments; 22,000 sq ft on 6.5 acres 2018). Teberah has built an impressive career and is widely regarded as an expert in nursing and adult social care. She formed Nurses Who Care to help like-minded people become exceptional nurses and forge successful careers in the healthcare industry. Teberah is a member of the Michigan State University Alumni & Black Alumni Associations, and has served on the board of Michigan State University College of Nursing Alumni Association. She is also a proud member of professional minority nursing sorority Chi Eta Phi Inc. and the loving mother of Amiya Alexander, a MLK Jr. Scholar majoring in Nursing, Dance, and Spanish at New York University. - 2 - www.thenurseswhocare.com Introduction Let’s Get Started: After long days and hours you have decided to step up and turn your hobby into your business. I congratulate you for believing in yourself enough to prevent your business from becoming your expensive hobby. Let’s say that your new business is caring for family/friends. You have been taking care of your friends when they were sick: parents, grandparents, patients, neighbors, and many others for a long time, but you never got paid for this service. You do not know if people will pay for your service. You do not know your competition. You do not know how much to charge. You want to start an adult daycare business, but you don’t know where to start. Nurse T has that secret formula to opening your adult daycare! Lets Go! My Promise Statement To help my students who are looking for a business opportunity to open an adult daycare center so they can have a breakthrough, regain confidence, and to “Work from EVERYWHERE” #WFE. - 3 - www.thenurseswhocare.com Research Students, you must research! You don’t want to start an adult daycare to learn there is an adult daycare next door or within a one-mile radius! To begin researching the adult daycare business the best place to start is GOOGLE, https://www.google.com it’s free. Search by the name of your service. The results will tell you what adult day cares are in the area, what services they provide, how much the services are, and what services your competitors are providing. Now take it a step further, visit Reference USA http://resource.referenceusa.c om where you can learn more about your competition and industry. As a patron of the library, you can access Reference USA through your local library. Your valid library card will grant you access through your library’s website. More than 4 million customers use their products and services via their local library branch. The Kaufman Foundation https://www.kauffman.org is one of the best comprehensive websites for entrepreneurial research. They work with entrepreneurs, empower them with tools and resources, and work to break down barriers that stand in the way of starting and growing your business. - 4 - www.thenurseswhocare.com Business Planning It’s time to make a plan! Developing your strategy and creating your business plan is essential to the success of your adult daycare. This plan will help you identify the who, the what, the when, and the where and turn your idea or hobby into your legitimate business. Don’t you just wish someone would tell you your business idea will stand the chance to excel? It may not be that easy but there are tools, templates and other resources that can help you create your plan. You may not get the direct answer but Enloop www.enloop.com will give you a performance score. Over 305,800 business owners, accountants, entrepreneurs and students use Enloop to write and manage their business plans. How this works is once you enter your company information Enloop will generate a score with the information you entered and calculate a score to help you improve your plan. Do you really know what a business plan really looks like? At BP www.bplans.com they have over 500 free sample business plans for numerous types of businesses. - 5 - www.thenurseswhocare.com Market Analysis Students know your market! What is a market analysis? A market analysis provides information about industries, customers, competitors, and other market variables. You can also determine the relationship between supply and demand for a specific product or service. Based on these insights, you can make more informed decisions about possible marketing strategies. Free business statistics and financial ratios. BizStats www.bizstats.com is the home of free, accurate business statistics which are well organized and easy to access. These are two other sites that can be a resource for gathering data www.qualtrics.com and www.tableau.com - 6 - www.thenurseswhocare.com Capital Students: Do you need help? There are mentors, counseling at no cost to you, and loans supported by the U.S. Small Business Administration (SBA) https://www.sba.gov. What is SCORE? SCORE https://www.score.org has served as America’s premier source of free business mentoring and education for over 50 years. As a resource partner of the SBA, SCORE has helped more than 11 million entrepreneurs through mentoring, workshops and educational resources since 1964. These are a few investment companies who provide capital to small businesses. You must look on the SBA website to see who has funding available. I cannot guarantee you will receive funding. Aldine Capital Fund III, L.P. Albert L. Brahm 444 West Lake Street, Suite 4550 312-346-1004 Chicago, IL 60606 Anagenesis Capital Partners SBIC Fund, L.P. Melanie Brensinger 575 Fifth Avenue, 14th Floor 646-661-2343 New York, NY 10017 - 7 - www.thenurseswhocare.com What is an Adult Daycare? Our goal at Kathelene’s Adult Daycare is to prevent social isolation and to provide respect in a safe and fun environment. No Senior Left Inside, No Veteran Left Behind. An Adult daycare is a non-residential facility that supports the health, social, nutritional, and activities of daily living in a professional group setting. This is a planned program of daily activities for adults who require supervision. An adult daycare offers families and caregivers a break from their caregiving duties while knowing their loved one is in a safe place. Adult day care centers open during daytime hours, Monday through Friday. Activities include bingo, fitness, yoga, crafts, movies, karaoke, field trips, and much and more. Other services that are offered are personal care, health services, and transportation. - 8 - www.thenurseswhocare.com Do You Have your Entity Set Up? Be sure you have your entity set up prior to opening your business. Decide with your team if your business should be a corporation or a LLC. Know what the difference is. Employment Identification Number (EIN), also known as a Federal Tax Identification Number, and is used to identify a business entity. For more information, our course “Nurse T’s Business Basics” can guide you through this process. Always keep your business banking separate from your personal accounts. Once you receive your entity and EIN, you want to be sure to apply for your NPI number https://nppes.cms.hhs.gov/#/. A National Provider Identifier (NPI), which is a unique 10-digit identification number issued to health care providers in the U.S. by the center for Medicare and Medicaid Services (CMS). HIPPA covers entities such as providers completing electronic transactions, health care clearing house, and health plans are required by regulation to use NPI to identify covered healthcare providers. - 9 - www.thenurseswhocare.com License/Certification Students know your State! Identify if your state is a regulated state. This website aspe.hhs.gov will allow you to identify if your state will need a license and/or certifications, to operate an adult daycare. Each state is different. Michigan is not a regulated state therefore, I do not need a license to operate my adult daycare. Some states require both a license and certificates, other states require only one or another, whereas other states may not require either. If your state is regulated you will have to print off the regulations to be sure your policies, procedures, and operation is compliant with state regulations. - 10 - www.thenurseswhocare.com Identify Your Model Social Model: is a structured program that provides functionally impaired older adults with socialization, supervision, personal care, and nutrition in a protective setting. Medical Model: is a Daycare that offers nursing care, including medication administration, occupational and physical therapy, routine dental care, podiatry, social work, nutritional counseling, and a hot meal.