James Thomas, QFP, Commercial Manager at d&t business planning, discusses the need for careful planning when extending care home services.
The expansion of care home services requires the mitigation of risk through analysis and proper planning both to protect the business and those it cares for long term.
Extending an existing facility by nature often requires significant investment and therefore, commercial backing. Securing appropriate funding will be a key part of the successful expansion of services. Here, a balance needs to be struck between the need for borrowing and the income likely to be generated from providing care services.