Scan: a care homes group in the Midlands with 6 homes. Good care, good people, low profits, no growth. Being out-gunned by national big company competitors.
Evaluate: too many NHS residents at low rates. Residents cared for, but not happy. No strategy. No direction.
Recommendations: increase the rates; cap NHS resident numbers. Invest in activities to create happier residents. Launch positive initiatives: position as leaders in “home-from-home care” (what the big companies could never do); create a Fair Prices Campaign positioning them as the champions of good value; Elderly In The Community Awards to build community relationships, attract sponsors and recruit new residents.
Results: happier residents; a waiting list of residents; net profit margin up from 12% to 26% in 18 months.
Contact Paul Jobin or Robert Craven at The Directors' Centre to find out more
3 comments:
It is a rare person who figures out how to make money on care homes. The money we made was in the value of the property but the poncer movement of rising costs and tightening council fees made the equation unbearable for us. We were glad to escape when we did.
Nick
Shows what can be done......
For your info, RC now has a wikipedia entry:
http://en.wikipedia.org/wiki/Robert_Craven
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