Bankers and private investors call and inquire about adult day care centers. My team and I enjoy presenting to them and helping them to understand the financial dynamics of this important business model. On the other hand adult day care centers want to know what I tell them.
Well to address this I am making my publication: “What I Tell Bankers: An Investor’s Guide to Understanding Adult Day Care” available to anyone through my on-line store effective June 1, 2014.
Just to provide a few details I educate financiers on the kind of things that can determine if you are a responsible provider or not. Responsible providers face less of a chance of having their income interrupted. For example I ask them to check to make sure all of your staff training requirements are up-to-date as dictated by the state body that licenses you. I direct them to your fire safety protocol and have them verify when you last conducted a drill and how you documented it.
I direct them to how Medicaid waiver and related direct purchase of service contracts are worded and governed and provide a formula for predicting what your income growth may likely be over an 18-36 month period. I give them popular marketing strategies that have worked in many adult day care centers so they can ask if you have a consistent program in place that stimulates your growth.
Of course the manual is also designed to help you get prepared for discussions with bankers and private investors too. Nothing is full-proof but effective strategy is always research based and the manual contains plenty of that.
For more on a regular basis about stimulating your growth via outside investment join the www.linkedin.com group Adult Day Care Innovation & Growth.