Are you are a non- profit considering starting a geriatric care management business to add a revenue source to your non- profit. You do have a timeline – right? The second item on your timeline is a market feasibility study. You need to test what your market share will be. Will you have enough of the pie to make a profit?
To start this feasibility study you need to determine the geographic footprint of the market you wish to serve.
You should look at your entire potential service .For example, if your non-profit serves the whole state of New Jersey the entire city of Princeton, or the zip code 33023 in Hollywood, look at that
Geographic area. You are searching for the section in your service area most likely to yield older clients and their families who can afford GCM services the 10%
If you cover all the counties in Delaware, select all those counties. Create a market survey of those counties to find out which counties have the highest number of seniors, with the highest income described as your ideal client. You will be using the US census figures and other metrics.
Here is Some Great Tips To Make Sure Your Non- Profit adds a for profit Geriatric Care Management does not go bust and actually lose Money. It has happened. Avoid this mistake.
Find out about my new webinar
GPS to a Profitable GCM Business Start Up
scheduled for May 9th 11:00 AM PST- 90 minutes
- Learn how to do your market sizing and competition survey and learn whether you have enough customers in your area to start your care management business . Don’t Guess and fail.