By kristan
Federal benefits are available for qualifying individuals who served in the U.S. Military.
Home care services can have a lasting, positive effect on the lives of older adults. With the help of a home care service such as ComForcare Home Care, elderly individuals can enjoy living in the comfort of their own home knowing there is someone available to assist with daily tasks and to provide care and companionship. For families, elderly care services provide peace of mind and confidence that their loved ones have someone looking out for them when family members cannot be there.
Although there are numerous benefits from home care services, many families worry that they will not be able to provide professional assistance due to the expense. Fortunately, there are many financial aid programs that can help supplement the cost of home care or provide additional benefits.
Veteran’s Benefits
For example, if your loved one served in the U.S. military, they may be eligible for home care service benefits through the Veteran’s Pension Fund. Pension is a benefit paid to senior wartime veterans who have financial need. These benefits are paid in addition to standard pension benefits. Many veterans are not aware that they may qualify for additional benefits through the Veteran’s Pension Fund, even if they are not disabled.
To qualify, each individual must:
- Have served at least 90 days on active duty
- Have served at least one day during a period of war (as defined by the VA)
- Be over 65 or totally and permanently disabled
- Not have a dishonorable discharge
- Meet specific financial criteria
Another benefit available to U.S. military veterans is the Aid and Attendance (A&A) benefit. This is paid in addition to the Veteran’s Pension Fund for those who further qualify when:
- The veteran requires the aid of another person in order to perform personal functions required in everyday living, such as bathing, feeding, dressing, attending to the wants of nature, adjusting prosthetic devices, or protecting himself/herself from the hazards of his/her daily environment, OR,
- The veteran is bedridden, in that his/her disability or disabilities requires that he/she remain in bed apart from any prescribed course of convalescence or treatment, OR,
- The veteran is a patient in a nursing home due to mental or physical incapacity, OR,
- The veteran is blind, or so nearly blind as to have corrected visual acuity of 5/200 or less, in both eyes, or concentric contraction of the visual field to 5 degrees or less.
If you think your loved one may qualify for this pension benefit, contact your local home care service to find out more. Home care professionals can help you through the application process and then provide quality care services that your veteran needs and deserves.
Offices Available Nationwide
ComForcare is a premier provider of private-duty home care services to people of all ages with offices conveniently located nationwide. Each office provides caregivers who make life easier for those coping with a chronic medical condition, recovering from an illness or injury, or dealing with the challenges of aging – in the comfort of their own home. ComForcare offers elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
By kristan
ComForcare offers a variety of franchise services and benefits for people who want a career working with a winning team while making a difference in the lives of those in their community.
Home care services continue to rise in demand as the baby boomer population ages. With millions of seniors retiring each year, there is a great need for reliable home care services. ComForcare provides entrepreneurs with the support and opportunity they need to be successful in this expanding industry.
Large Territories
ComForcare offers franchise owners large territories. Each are includes, on average, 25,000 to 35,000 individuals age 65 and over. Territories are available in the U.S. and in other countries including Canada and the U.K.
Low Royalty Fees
Growth is rewarded at ComForcare by decreasing the royalty percentage as profits increase. Royalty fees start at 5% and drop as low as 3% for qualifying locations.
High Revenue Potential
ComForcare’s unique home care service model means a higher revenue potential for business owners.
Extensive Ongoing Support
ComForcare Home Care provides independent business owners a myriad of support channels including email and phone consultation, regular web conferences, and weekly and monthly communications regarding news, operational updates, and counsel. ComForcare also provides a website for each franchise, access to a public relations agency, and an annual national franchise conference so franchise owners can meet and share information and ideas.
Proprietary Operational Software
Each ComForcare Home Care location uses a time-saving, proprietary software to help owners manage all aspects of business including: caregiver and client scheduling, payroll and billing.
National Strategic Alliances
ComForcare develops and maintains national strategic alliances that can create instant networking and referral possibilities for all franchises – offering growth potential.
Marketing Materials
ComForcare supports each location’s sales process by providing a variety of print and electronic materials to use with marketing efforts.
ComForcare wants each of its business owners to be successful so it provides the tools they need to grow and succeed. The ComForcare franchise organization is a community of business owners who seek ways to continually expand its services so it can have a larger positive impact on the communities it serves. From marketing, to training, to operational support, ComForcare prides itself on giving owners the resources they need to be the best in the industry.
About ComForcare Home Care Franchises
ComForcare began in Bloomfield Hills, Michigan, in 1996 as a company dedicated to establishing a new standard in the quality of non-medical home care.
After perfecting the winning formula, ComForcare began franchising and now operates more than 165 territories in the United States, Canada and the U.K. It offers elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
By kristan
Home care assistance for Alzheimer’s patients may help slow mental decline following a hospital stay.
According to a recent study published in the June 19 issue of Annals of Internal Medicine, Alzheimer’s patients who have been admitted to the hospital have a greater chance for accelerated mental decline following their admission. This decline can result in a later transition to a nursing home or even death. However, according to study researchers, having someone familiar at the hospital or available to offer Alzheimer’s care while making the transition home, can help slow the decline process.
The researchers studied 800 people with mild cases of Alzheimer’s disease. Each person was admitted to the hospital for one reason or another (fall, fainting, heart problems, abdominal pain, infection, etc.) and was evaluated for mental decline following their admission. According to the study results, those who visited the hospital were twice as likely to have poorer mental capabilities following the stay.
Linking Delirium
Delirium was the most common indicator of accelerated mental decay for hospital patients. If an Alzheimer patient experienced symptoms of delirium including heightened confusion and unusual mood or behavior during their hospital stay, they were more likely to experience significant mental decline. According to the study, 41% of patients who were hospitalized with delirium experienced accelerated mental decline in the following year (as measured by a memory and concentration test). In contrast, only 23% of patients hospitalized without delirium or not hospitalized at all experienced later accelerated mental decline.
In addition, those who experienced delirium in the hospital were 9.3 times more likely to be institutionalized than those who did not go to the hospital. They were also 5.4 times more likely to die than those who never visited the hospital.
This is the first study to significantly link hospital stays and delirium with accelerated mental decline in Alzheimer’s patients. Researchers suggested that it is possible to prevent decline by having family or friends visit the patient during their stay, helping the patient get up and walk around often, and by avoiding medication that can increase confusion.
Home Care as Prevention
One researcher even mentioned that keeping older people out of the hospital and treating them at home might also help prevent chances of delirium and accelerated mental decline.
Following the hospital stay, the transition to home is an important process for Alzheimer’s care patients. It is helpful to have a family member or friend available to assist patients or to hire a home care service provider like ComForcare Home Care who can provide Alzheimer’s care and help them ease back into their previous routine. ComForcare offers an award-winning transition of care program that specifically focuses on making the transition from the hospital to home a comfortable one.
The key to ensuring recovery and return to one’s previous level of independence is continuity of care after a hospital stay or outpatient procedure. ComForcare can provide this care with its one-time transition of care packages.
About ComForcare Home Care
ComForcare is a premier provider of private-duty home care services to people of all ages with offices conveniently located nationwide. Each office provides caregivers who make life easier for those coping with a chronic medical condition, recovering from an illness or injury, or dealing with the challenges of aging – in the comfort of their own home. ComForcare offers elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
By kristan
ComForcare Home Care clients like to spend time in the summer visiting friends, relatives, or heading out for some relaxation. No matter the reason, summertime is travel season.
Whether flying to see relatives, going on a cruise or taking a road trip, use these tips for safe and healthy summer travels:
Tell friends and family where you’re going. If traveling alone or even with your spouse, let your children, home care provider, and neighbors know where you are going and how long you will be gone. Your neighbors can look after your home and your family can check in with you every couple of days to make sure everything is okay.
Update and carry extra medication. Before you leave on a trip, make sure you have more than enough medication to last the duration of the trip. Also bring a list of your current medications, allergies and emergency contacts and carry the list with you at all times in case of a medical emergency.
Pack a carry-on. Pack a snack, three to four days of medication, a change of clothes and some essential toiletries to carry with you on the plane or within easy reach in the car.
Beat the heat. If traveling to a very warm area, stay in the shade as much as possible and drink water throughout the day. Airplanes use an air exchange system that causes dehydration, so drink water before, during and after the flight. If you feel dizzy, nauseous or get a rash from the heat, seek medical attention.
Take breaks. If you are flying, take a walk up and down the aisle every hour or so to stretch your legs (when allowed). If you are driving to your destination, take frequent breaks to get water, eat, stretch, use the restroom or sleep as needed.
Check for discounts. If you or your traveling companion are over 65, you may qualify for discounts with airlines, trains or car rentals.
Ask for assistance and let others help you. If that means accepting a wheelchair ride at the airport or asking someone to fly with you, your health and safety comes before anything else.
When planning a trip, give your home care provider advance notice of your travel plans. If you require assistance during your travels, your provider may be able to send a caregiver with you or you can check if home care services are available at your destination.
Learn More about Home Care Services
ComForcare is a premier provider of private-duty home care services to people of all ages with offices conveniently located nationwide. Each location provides caregivers who help make life easier for those coping with a chronic medical condition, recovering from an illness or injury, or dealing with the challenges of aging – in the comfort of their own home. ComForcare offers elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
By kristan
Home care is a growing need for American families.
About 66 million adult Americans perform an average of 19 hours a week of caregiving duties for loved ones. Add that to a fulltime job and a family, and you have about 30 percent of adults who miss an average of seven days of work a year to help with elderly care responsibilities. Before getting worn out or frustrated, consider these points to manage your home care responsibilities.
Talk to your employer. Many caregivers hide their home care responsibilities from their employers, but employers will have a better understanding of your circumstances and the use of your vacation and sick days if they know what you are facing. The Family and Medical Leave Act, entitles caregivers up to 12 weeks of paid time off, and the Parental and Serious Illness Leave Policy, entitles caregivers up to two weeks of paid leave. Not all employers will be equally understanding, but discrimination against family caregivers is unlawful.
Ask about flexible hours. If you cannot take time off, ask your employer if you can work from home or alter your work hours so you can accommodate your loved one’s home care needs.
Take time for yourself. While your time is stretched between work, caregiving and your own family, make sure you spend at least a few minutes a day just for yourself. Take time to just sit and relax, go for a run or read a book.
Take time for your family. Even if it is just one dinner a week where you are all together, set aside time that you spend with just your family. Be present; no work talk, no caregiving talk.
Put your health first. No, it is not selfish. If you are not well, how will you be able to take care of anyone else?
Find support. Talk to your siblings or find a support group for elderly care providers. Other caregivers probably experience the same stress you do and reaching out could help you both.
Ask for help. Look for transportation or home care services in your area. Talk to your siblings or other family members about taking on some of the responsibilities so you can take a break. When they get involved, it will not only help you, but they will better understand and appreciate how hard you work.
Home care services are available nationally from professional elderly care providers like ComForcare Home Care. Home care specialists work with you and your family to create a care program that meets the needs of your loved ones and works for your financial situation and support needs.
About ComForcare Home Care
ComForcare is a premier provider of private-duty home care services to people of all ages with offices conveniently located nationwide. Each location provides professional caregivers who make life easier for those coping with a chronic medical condition, recovering from an illness or injury, or dealing with the challenges of aging – in the comfort of their own home. ComForcare offers elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its home care services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
By kristan
Home care franchise owners like Sam Gopinathan take their business seriously. Home care services are rising in demand, and with the help of a great care team, business owners like Sam are seeing positive growth and success.
Gopinathan left the corporate life to start his own home care franchise and is currently living the dream of working for himself. The following article from the Pasadena Star News outlines his philosophy on running your own home care business, and insights into his growth and success:
On a cool Thursday in Pasadena, Sam Gopinathan, 45, drove a senior citizen to a doctor’s appointment. The new owner of a private non-medical, home care franchise, ComForcare Home Care in Pasadena, was simply going out of his way to add a personal touch for one of his clients.
“One thing I’ve realized is that retired people just really enjoy company and I really enjoy theirs,” he said. “I have several care providers on my staff but I decided to take my client personally.”
Last September, Gopinathan’s career in corporate America took a downturn when he was let go from his position as vice president of M-S Cash Drawer, a manufacturer of cash registers and point-of-sale systems based in Pasadena.
“My first reaction was to try and find another job in corporate America – I was comfortable there,” Gopinathan reflected. “I just had done it for so long and it seemed like a secure option, but I had always dreamed of having my own business.”
Gopinathan decided to take a risk and open up his own shop. “I wanted to go into the service industry,” he said. “I always wanted to work with people.”
He looked at three possibilities: a training school, a restaurant, or elderly care. Fortunately, he chose the latter. A new Schwab survey released this month shows that even given the current economic conditions, 54 percent of baby boomers do not expect to delay their planned retirement date. With the baby boomer generation in the midst of retirement, Gopinathan can only expect his home care business to expand.
“I’ve been extremely lucky,” he said. “Business has gotten better progressively.”
He added that much of the growth can be attributed to the personal touch he and his home care staff provide. Every home care client gets a care assessment by a registered nurse who creates a care plan based on the results. The registered nurse then trains caregivers on how to best meet the needs of the client.
Gopinathan also personally deals with insurance companies and handles the often complicated paperwork on his clients’ behalf. “(Clients) are always telling me how much they appreciate this,” he said. “They are going through a difficult situation and appreciate not having to handle all the processing.”
Another edge is that ComForcare of Pasadena works with the client’s primary health providers to ensure health regimens are followed. ComForcare also closely monitors the results of the treatment in order to hold hospitals accountable for the care of their clients.
“We support pay for performance,” he said, adding that it’s another way to not only support his clients, but to show his respect for his elders. “The work is very close to my personal beliefs,” he said. “These people were very successful people in their day. My parents are both retired, and it means a lot to them that I care about their generation.”
Erick Galindo, Pasadena Star News, September 10, 2010.
About ComForcare Home Care Franchises
ComForcare began in Bloomfield Hills, Michigan, in 1996 as a company dedicated to establishing a new standard in the quality of non-medical home care.
After perfecting the winning formula, ComForcare began franchising and currently has more than 145 franchise owners who operate more than 150 territories in United States, Canada and the U.K. ComForcare caregivers provide elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
By kristan
Home care service is an emerging business in the Bay Area of California. The McCalla father-son team opened up an independently-owned ComForcare Home Care franchise in Orinda, California, and they are excited about its growth as they continue welcome new home care clients within their community.
Located east of San Francisco, California, Orinda is an ideal location for a home care business thanks to the large population of older adults. ComForcare Home Care was featured in The Orinda News when it opened. The following excerpt from the article gives some great insight into its success:
The father and son team of Vern McCalla, Sr. and Vern McCalla, Jr. delivers highly-trained, professional home care to the homebound individual. They provide a range of home care services from companionship to meal preparation to hands-on personal care 24 hours a day.
ComForcare home care services include home companions, personal care aids, home health aides, certified nurse aides, and 24-hour live-in assistants. These services are available anytime: 24 hours a day, 365 days a year. Whether an individual is suffering from a long-term illness, recovering from an injury or coping with aging, ComForcare provides the support necessary to lead a dignified life. Home care providers are screened with a ten-step hiring process and are licensed, bonded and insured.
ComForcare Home care is a non-medical company and does not administer medications. Family members are responsible for all medications. An initial nurse’s assessment is conducted prior to assigning a home care provider to an individual. This assessment is free of charge and addresses such issues as the individual’s balance, gait, and range of motion, as well as memory evaluation.
“Our experience has been that often the family recognizes a need and often the elder does not want any help. We consult on what we think should be happening,” explains Vern McCalla, Jr., who manages the office and hires the caregivers. While the focal point of ComForcare is seniors, home care is also provided for children with disabilities.
“The value of staying at home for a senior is to be able to age in place. People enjoy staying in their home where things are familiar. It tends to make the rest of their life an easier transition than if they are displaced,” he adds.
Three levels of care are offered. The first level is considered companion home care, the second level is a home health aide who is trained in personal care and meal preparation, and the third is a certified nursing assistant who is able to assist with bedside service such as turning an individual in bed.
“We are able to deal with a person at any stage of mobility. We work with the Hospice of East Bay. Every three to four months a hospice nurse provides in-service training to our caregivers,” explains Vern McCalla Jr.
“It is a good feeling to work with my son after watching him work hard at Miramonte High School and the University of Oregon. Today, I see him put the skills he has learned to good use helping other people,” says Vern McCalla Sr. “He brings positive things to our business including office management and a knack for hiring excellent people. My skills are in marketing and sales,” he adds.
The McCallas have lived in Orinda for 20 years and immensely enjoy owning a business together. For more information about ComForcare, visit www.ComForcare.com.
The Orinda News, October 2009.
About ComForcare Home Care Franchises
ComForcare began in Bloomfield Hills, Michigan, in 1996 as a company dedicated to establishing a new standard in the quality of non-medical home care.
After perfecting the winning formula, ComForcare began franchising and today has more than 165 territories in the United States, Canada and the U.K. ComForcare offers elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
By kristan
Using home care services is becoming a popular choice for aging individuals and couples who wish to continue living independently in their own home. To address this need, ComForcare Home Care is opening new franchise locations throughout the United States. Home care is one of the fastest growing industries in the country and ComForcare Home Care franchises are among the most highly-ranked for success, support and owner satisfaction.
Many savvy entrepreneurs have already opened an independently owned ComForcare home care franchise and are pleased with their success and growth. Here is the story of one franchise owner, Lynellen Mallet, who opened her ComForcare home care business in Birmingham, Alabama in 2010. The story was featured in the Birmingham News:
Lynellen Mallett knows the challenges the elderly and disabled face when living alone. After working as an insurance underwriter for Protective Life in Birmingham, Mallett moved into the home health care field at Coram Healthcare and as a member of the Visiting Nursing Association.
Last August, Mallett and her husband, Chuck, moved back to metro Birmingham, where they had spent 15 years before his job moved him to Houston, to launch a Birmingham office of ComForcare Home Care. It provides non-medical assistance for seniors, the disabled and others needing help doing daily chores, or cooking. Mallett admits she was nervous about starting a business in a crowded field during a recession, but she says the response so far has been strong.
“It was a little scary, but I knew there was a need as our population is aging,” she said.
For years, Mallett saw her mother care for her elderly grandmother. While living in Texas the past few years, she assisted her husband in caring for his aging parents, who suffered from heart problems and Alzheimer’s.
“I understood the tremendous need to provide in-home care and support to family caregivers,” Mallett said. “As a result, I was drawn to the home care field.”
ComForcare is part of a growing demand for services among metro Birmingham’s aging population, said Gretchen McDaniel, a professor at Samford University’s Ida V. Moffett School of Nursing. Nursing graduates are now opting not only for careers working in hospitals and doctor clinics, but also as caregivers in home settings, she said.
“There are a lot of elderly people who don’t require hospitalization, but need assistance keeping their medicines straight or doing simple things around the home,” McDaniel said. “Years ago as parents aged, families had sons and daughters around to help them. Families are all spread out around the country now so there is a bigger demand for caregivers.”
Mallett said ComForcare Home Care Services focuses on chronic disease management and has rigorous hiring criteria for caregivers. It also has a nurse or social worker on staff to develop individualized plans for clients.
“We are glad to be back in Alabama,” said Mallett, whose husband is a vice president of merchandising for Birmingham-based Hibbett Sporting Goods.
Roy L. Williams, The Birmingham News, June 12, 2010.
About ComForcare Home Care
Look for more information about new branch openings and franchise opportunities online at www.comforcarefranchise.com. Home care is a growing industry, and this is an opportune time to get involved.
ComForcare began in Bloomfield Hills, Michigan, in 1996 as a company dedicated to establishing a new standard in the quality of non-medical home care.
After perfecting the winning formula, ComForcare began franchising and now operates more than 165 territories in the United States, Canada and the U.K. ComForcare offers elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
By kristan
Home care services are growing in demand across the country. In response to a need for home care services and a universal desire of aging and disabled individuals to remain in the comfort of their own home, a new ComForcare Home Care franchise has opened in Stanton, Michigan. The office serves Montcalm, Ionia, Gratiot, Clinton and Isabella Counties.
Ken and Dawn Stoll opened ComForcare Home Care in Stanton in February 2011. Starting from just one client and one caregiver, the office now services 37 home care clients and employs 40 people, mostly part-time. “Our business has grown beyond our expectations,” says owner Ken Stoll.
The franchise provides in-home assistance with daily activities of living for seniors, disabled individuals, recovery from accidents and therapy for all ages. These services include assistance with meal preparation, medication reminders, Alzheimer’s care, bathing and personal care, light housekeeping and much more. Home care services are available 24 hours a day, 365 days a year from fully bonded and insured caregivers.
To inquire about receiving assistance, contact Ken or Dawn Stoll at (989) 831-5000. Their mission is to improve the quality of life and level of independence for every elderly care client and family receiving their services.
ComForcare offices are located across the country and in Canada. As part of a growing industry, the business is only expected to grow in coming years as the American baby boomer population continues to age and fast rate. Interested persons can contact the office near them to find out more details on the specific opportunities available.
Look for more information about new branch openings and franchise opportunities online at www.comforcarefranchise.com. Home care is a growing industry, and this is a great time to get involved.
About ComForcare Home Care
ComForcare began in Bloomfield Hills, Michigan, in 1996 as a company dedicated to establishing a new standard in the quality of non-medical home care. After perfecting the winning formula, ComForcare began franchising and now operates more than 165 territories in the United States, Canada and the U.K. ComForcare offers elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100,
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
By kristan
ComForcare Home Care continues to grow, welcoming new entrepreneurs looking for a way to make a difference in the lives of others through their work. One question many potential home care business owners have is how to finance the start-up process. This article featured in the Daily News walks through the experiences of one start-up office in Michigan and offers insight into the early stages of planning and funding.
Ken and Dawn Stoll opened ComForcare Home Care in Stanton last February. They took out a line of credit with Isabella Bank. The home care business now has 37 clients and 40 employees, mostly part time.
STANTON — When Ken and Dawn Stoll decided to purchase a home care service franchise, they did their research. The Stolls looked at the top 12 companies in the country and chose ComForcare Home Care, a non-medical home care agency for senior citizens and those needing help at home. They had taken a business franchise class at Montcalm Community College (MCC) to learn some of the basics.
The Stolls used their savings to fund the start-up costs of the Stanton home care business. They also created an extensive business plan to present to various banks for a line of credit to keep their cash flow positive. The Stolls went to five banks. They were immediately turned down by two, which did not do small business loans. The Stolls negotiated between the other three banks for the best rate.
“The (MCC) class taught us that banks can be like car dealers, meaning negotiable,” Ken Stoll
Seppala suggests submitting a comprehensive business plan as the first step in obtaining a commercial loan. He recommends taking advantage of organizations that help individuals prepare a business plan at little or no cost, including the Michigan Economic Development Corp. (MEDC), Michigan Small Business Technological Development Center (MI-SBTCD) and SCORE (a nonprofit association dedicated to educating entrepreneurs and helping small businesses start, grow and succeed nationwide).
“We find that a better prepared plan not only helps new entrepreneurs, but also established businesses which usually ensure success or options to improve in the future,” Seppala said.
The timeline for financing a small business depends on the complexity of the request and the detail of the business plan, but generally the timeline can be fairly quick, according to Seppala. He said lenders take the following items into consideration before approving financing:
• The depth of the business plan and whether it’s realistic or obtainable.
• The repayment source.
• A secondary source of repayment if a primary source of repayment is not established.
• Personal credit history.
• Collateral to support the request (liquidation value).
Regarding personal finance risk, Seppala said an entrepreneur will typically be required to guarantee the loan either through the bank or a government program. He said in a majority of these cases, the guarantee is secured by personal assets, such as a home or vehicle. In addition, life insurance is typically required to match the requested loan as the success of the business is dependent on the entrepreneur being able to achieve the goals of the project.
Growing Business
When the Stolls opened ComForcare Home Care in Stanton last February, they began with one home care client and one caregiver. They now have 37 home care clients and 40 employees (mostly part-time). They are contracted with four Medicaid agencies covering Clare, Clinton, Gratiot, Isabella, Ionia, Montcalm and Newaygo counties, as well as with the Michigan Department of Human Services statewide.
“Our business has grown beyond our expectations and projections that we presented to the banks,” Ken Stoll said.
- Daily News by Elisabeth Waldon
About ComForcare Home Care
ComForcare is a premier provider of private-duty home care services to people of all ages with offices conveniently located nationwide. Each ComForcare location provides caregivers who make life easier for those coping with a chronic medical condition, recovering from an illness or injury, or dealing with the challenges of aging – in the comfort of their own home. ComForcare offers elderly care services including personal care, homemaking, transportation, companionship and family respite services to improve the quality of life and level of independence for every individual and family receiving its home care services. Each ComForcare office is independently owned and operated.
ComForcare Home Care
2510 Telegraph Road, Suite 100
Bloomfield Hills, MI 48302
248-745-9700
http://www.comforcare.com
