Nursing homes provide care for those who are either elderly or have disabilities that need special attention. The nursing industry is growing due to the large number of baby boomers who are retiring. Starting your own nursing home business allows you to benefit financially from the growing number of retirees that may need nursing care. Careful planning and the proper credentials are necessary to ensure you have a legally and successful business.
Contact your local county's zoning division to determine what licensing or zoning laws are required for you to operate a nursing home. The area, street, and other factors may determine where you can legally operate your nursing home. Plan accordingly on the establishment of nursing home by knowing ahead of time what the zoning requirements are.
Ensure you have the necessary qualifications and licenses for your nursing home. For example, you will need a nursing home administrator license, which is offered from your state's health licensing board. Also all of your employees (registered nurses, certified nurses assistant, and doctors) must have the required credentials and licenses in order to legally operate in your nursing home.
Create a business loan for your nursing home in case you need to obtain a loan from the bank to either pay employees or purchase a nursing home property. Banks will need to know how you expect to be successful in your business and may require a business plan for approval. Contact a local professional business owner or business retiree at various organisations that may help you create a business plan (see resources).
Legally structure your business. In order for you to pay the proper taxes to the state and federal government you may need to be legally structured as either an incorporation or LLC. Your attorney or certified public accountant can draft the articles of incorporation for you or you can do so yourself by visiting your secretary states website.
Obtain an EIN from the IRS. An EIN (employer identification number) is required to establish a business credit, hire employees, and opening a business current account to pay your employees. Go to the IRS' website to apply or contact an IRS agent over the phone to receive your EIN. There is no cost for an EIN.
Ensure your nursing home will have all of the necessary amenities two comfortably support your patients. Consider hiring a housekeeping service to keep the rooms clean. Air conditioning and heating is necessary to ensure the residents are comfortable. Laundry facilities must be available to keep the linens clean for your residents.
Join professional associations that connects you with other nursing professionals. Joining nursing associations will allow you to get ideas on how to make your nursing home successful and to stay abreast on any changes in the industry. For example, the American Association of Homes and Services for the Aging offer both conferences and other methods to communicate with professionals in your area (see resources).