Any idea what a senior relocation company is? Essentially you are the person who coordinates all the steps and connects all the dots when a family is faced with moving an elderly family member. The move can be into the home of other family members or into a care facility.
Believe it or not, many families are faced with having to make this decision but either has no idea how to approach it or just can’t bring themselves to do it although they know it is the right thing to do for their elderly family member.
This is where you come into the picture. But before we get into the main details on why you will be able to earn a decent living providing this service, there are four things you need to know before you start your senior relocation company.
1 – Credentials
In the case of a senior relocation business the credentials you will require are more in the form of licenses. The licenses you would need will vary from region to region as well as from community to community. In some cases you will only require a business license.
The best way to determine exactly what you will need where you reside is to contact your local governmental agencies. This could be city hall or a regional government source. The fact that you carry a license of some kind will give your service a level of credibility which will be important when starting out and establishing yourself and your business.
2 – Coverage
Along with licensing credentials, you will need to ensure you have the proper insurance in place. The first kind of insurance you will need will be to cover your home-based business in your home. It may only require an additional rider on your existing home owner or tenant insurance.
Be sure to verify with a landlord if you are not a home owner that you can have a home-based business where you live. You will also need to have proper insurance for your vehicle to cover such things as transportation of clients and their belongings. The best way to find out what you need is to discuss your needs with your insurance broker.
3 – Office
In the home office part of your home – even if it is just a desk in the corner of a room – you will need several supplies to assist with the operation of your senior relocation company. They can be as basic as a reliable vehicle, a cell phone, a note pad and pen.
You could also expand that to fill your office space with a computer, phone and answering machine, a computer billing program and scheduling software, business cards and related items.
To start out you may want to scale down to just the basics listed first and as business increases, add the extra items. Either way, you will need to have some supplies in order to keep organized and on track.
4 – Legals
Probably the most important decision you will make related to your senior relocation service is the legal structure you intend to run the company under. Let’s get this straight right away – you will not be doing this as a hobby. If you are providing a service to customers, they will expect you to be professional and one way to show this is by having a legal structure in place.
You can run your business one of several ways – as a sole proprietor, in a partnership or as a LLC. Each has advantages and disadvantages but all will have a bearing on your tax situation. The best way to determine which is best for your business is to consult with a financial advisor. nolo.com also has excellent free information about what’s best for you.
Once you have completed these four important steps you will be ready to launch your senior relocation company and provide a service that will be valued by those who hire you. You have chosen a very interesting and rewarding business option.
You will find it challenging at times but overall you will be doing something for families that they will be forever grateful for your involvement and that will assist in building your business.
Our guide, How To Start A Profitable Senior Relocation Service, provides step-by-step startup instructions and the forms you’ll need.