Home Care Profit Breakdown (Conservative) - Show Me The Money Part 2

The Home Care & Assisted Living Business Series

Client Number 1: 20 hours a week at $18.00 an hour Total Weekly Gross = $360.00 Total Monthly Gross = $1440.00 Caregiver Weekly Pay rate at $11.00 an hour = $220.00 Caregiver Monthly Pay rate at $11.00 an hour = $880.00 Monthly Net Profit to Agency = $560.00 Client Number 2: 40 Hours a week at $17.00 an hour Total Weekly Gross = $680.00 Total Monthly Gross = $2,720.00 Caregiver Weekly Pay Rate at $11.00 an hour = $440.00 Caregiver Monthly Pay Rate at $11.00 an hour = $1760.00 Monthly Net to the Agency = $960.00 Client Number 3: Live In Client $180.00 a day: Total Monthly Gross: $5,040.00 (Every 28 days) Caregiver Salary: $110.00 day. $3080.00 a month. Monthly Net Profit to the Agency: $1,960.00 Total Monthly Net Income for 3 Clients: $3,480.00 Annualized $41,760.00 I call this the magic 3 and our entire staff is geared to meet this goal monthly. Nothing less and if we exceed this goal bonuses and other incentives are given. Feel free to us this or some other variation in your organization. The home care has the advantage of scale for sure but there is a high turnover. ALF is limited but it's a higher demand because of bed inventory and it the turnover rate is much lower. To be in both is the golden path 💰 --- Send in a voice message: https://podcasters.spotify.com/pod/show/allenchaney/message