Dementia Care Project – Please Help
PROJECT ON HOLD DUE TO LACK OF FUNDING _ PERHAPS A SMALLER SCALE PROJECT IN THE FUTURE.
THE PROJECT: The purchase and re-opening of a 27 bed Dementia Care Home, after it failed a Care Quality Commission inspection for the second time. One in 5 Care Homes ‘failing standards’ – SOURCE: BBC News
My reason for doing so is as much selfish as it is altruistic. My father died last year, leaving my widowed mother who at the time was suffering from mild dementia. Time marches on, without my father to keep mum’s mind focused on taking care of him, her dementia is getting progressively worse, especially her short term memory.
In order to reduce the amount being paid out in care at home bills, I have, in return for a £62.10 a week carers allowance, closed a high street shop and for the last year almost put my Entrepreneurial lifestyle on hold whilst coping with this progressive disease, which can only get worst over time.
Information regarding how to cope with individuals who suffer from dementia is not widely available – there is mountains of information on what it is, how many people suffer from it, etc., but how carers actually deal with it, is generally not available.
I know for a fact that there will come a time when my mother needs to go into care and I will have to deal with it.
Unfortunately, although there are training courses and people who specialise in this care, there are not, in the scheme of things, many Care homes that are dedicated to this.
As a 12 month ‘veteran’ I don’t think there is anything in this area that offers the care that I think should be provided at a cost that is acceptable. (I’ve seen homes at the top of their specialist field charging as much as £1500 a week!)
I want to make a difference and put together a top team of management and staff to provide this service in well maintained accomodation for under £1000 a week. This is achivable if the care home is structured around patient care and not easy profits.
From my research day to day patient care would cost in the region of £36,000 a year for a manager, 5 deputy managers at £27,000 a year and 15 additional staff at £18,000 each. On top of this cleaning, cooking and garden staff would cost an additional £140,000.
Next come the overheads – gas, electricity, rates, phone, etc. These are going to cost in the region of a further £80,000 a year. Another £4,000 a year could easily be spent on installing and maintaining a Quality Compliance System. An administrator to ensure QCS is checked daily so that we are always prepared for a suprise visit, which I believe they are fond of will cost in the region of £20,000 p.a.
And then comes the food requirements, based on an average cost of £10 per day per resident, this is going to cost as much as £100,000 per year.
A total of £565,000
With a break even occupancy rate of 16 out of 27 (approxiamately 60%) at £750 a week this would leave a very small surplus of £19,000 a year. This doesn’t leave a lot to cover unforseen circumstances, additional training and me 🙂 and a higher occupancy level needs to be achieved. Just an extra 2 people and we could drop the fees to £650 which is getting closer to the local council cap on they will pay in assistance.
See Care in the UK: The costs you face – SOURCE: BBC News for more information on this.
Economies of scale kick in once a break even figure has been achieved – staffing levels, overheads, food budgets will not increase pro-rata, which effectively means that every additional resident above the initial 16 is going to make a difference of at least £25,000 p.a. to pre-tax profits.
The overhead and staff figures will work for any care home with a similar numbers of residents, but I believe the property for sale shown above at a purchase price of £595,000 offers signifant value. The asking sum of £750,000 is to allow for some minor refurbishment and cashflow until the occupancy rate reaches and subsequently exceeds our required target.
Can I do this – the short answer is yes. I have been self-employed for the last 30+ years, buying and managing my own retail grocery shops. At one point I had six shops in different locations with a collective staffing levels of over 50. I have run non health care service businesses before, in fact I recently purchased a customer focused ATOL and ABTA guaranteed online travel franchise, which I will be using to arrange resident day trips, events and maybe even short break holidays if required. I have never operated a single location of this magnitude, but given the management team expertise I intend to bring in, I do not consider this to be a major problem.
If I don’t succeed in my fundraising efforts or I can’t arrange funds via some form of equity funding, then I will scale down my ambition and develop a smaller home, as I refuse to pay the fees currently expected and after having done the maths I don’t see why I should.
If you want to help me fund this project, please complete my poll below. You can also visit my Online Store at Ageing Gracefully.
If you intend to pledge support, keep an eye on this page as I will be adding a link to crowdfunder once it has gone live.
A thank you letter for believing in this project.
A thank you gift in the post of chocolates and flowers for believing in my project.
A thank you gift in the post of chocolates and flowers for believing in my project! A £50 discount off of any holiday you book via my ATOL and ABTA guaranteed travel agency franchise.
A thank you gift in the post of chocolates and flowers for believing in my project! A £100 discount off of any holiday you book via my ATOL and ABTA guaranteed travel agency franchise.
A thank you gift in the post of chocolates and flowers for believing in my project! A DVD tour of the care facility so you can see where your money has gone. Upto £500 discount off of any holiday you book via my ATOL and ABTA guaranteed travel agency franchise. (6% of holiday maximum, £100 minimum.)
A thank you gift in the post of chocolates and flowers for believing in my project! A DVD tour of the care facility so you can see where your money has gone. Upto £500 discount off of any holiday you book via my ATOL and ABTA guaranteed travel agency franchise each year for the next two years. (6% of holiday maximum, £100 minimum.)
A thank you gift in the post of chocolates and flowers for believing in my project! A DVD tour of the care facility so you can see where your money has gone. A VIP launch party so you can see what your money is doing. Upto £1000 discount off of every holiday you book via my ATOL and ABTA guaranteed travel agency franchise. (8% of holiday maximum, £100 minimum for the next 5 years)