Can A Professional Senior Caregiver Make a 6 Figure Income?
To help you better understand this,
I am going to jump right into it, and give you the financial formulas to make, replace, double and triple your income as a new, inexperienced, or experienced Professional Caregiver-
Say that you decide your service fees will be $25.00/ hour. Refer to How much money can a Caregiver Entrepreneur really make? -And How your salary will increase every month.
To Make Or Replace Your Income:
If you just need an extra $2,000 a month, and you want to have an online business as well, or a side hustle, you can assist 1 Client for only 4 hours a day-Monday through Friday.
Let's Do The Math!
$25.00/ Hour × 4(Hours you assist a day)=$100.00
$100.00/day for 5 days=$500.00/week x4 (weeks in a month)=$2,000/month
= $24,000/year ....
Congratulations! You have just made or replaced your income as a self-employed Professional Caregiver! (Assisting only 4 hours a day with 1 Client)
Note: Many Professional Caregivers and Certified Nursing Assistants who are working at a Nursing Home or in some sort of Senior Care Facility make this amount working 8 hours a day, assisting over 10 Senior Clients!
Double Your Income:
You will assist 2 Elderly and/or Disabled Clients part-time, Monday through Friday 8am-12p and 1pm- 5pm- (Or 1 full time Client 8am-5m.) Of course times will vary.
Let's Do The Math!
@$25.00/ hour assisting 2 Clients part time or 1 Client full-time, adds up to $200.00/ day.....$1,000/ week.....
Wanna make even more?
Find another Senior or Disabled Client that needs assistance on the weekends/ part-time- Saturday, Sunday, or both .
Since you get to choose what type of Clients you enjoy assisting, your Mini Senior/Disabled Care business may not seem like "work" at all!
You can get paid to participate in activities, play games, monitor, or read to and with your Senior, Elderly or Disabled Clients!
I once had a Senior Client who wanted me to go to exercise with him! Guess what that exercise consisted of?
Swimming in an indoor pool to help strengthen his legs 3 times a week- along with a trainer!
I love swimming! Speaking of swimming, Did you see me way out in the ocean?
Senior and Disabled Care can be fun! There are many activities that they do similar to your own hobbies, and you can get paid to do these activities with them!
Professional Caregiving is not all about wiping butts, cleaning poop, changing briefs, and stinky smells! Ewww!
This is your own business, and you will always be able to choose the type of Senior or Disabled Clients that you want to assist.
Triple Your Income!
Step your game up as a Professional Caregiver Entrepreneur and make 82,000-103,000/ year with just ONE Client!
Most Professional Caregiver Entrepreneurs will never tell how much money they make with just one Client!
Read Private Duty Caregivers-So what's the secret?
They are still silently making a 6 figure income as Professional Caregivers!
( As a Professional Caregiver Entrepreneur, besides your salary, there will be other amenities, personal matters, and agreements established that you just don't tell everyone so as to protect your Client.)
Here's the truth:
Adult children, and family members of the Senior and Disabled community do not have the time skills or patience to take care of their mom, dad, grandparents, or spouse.
For the family members who do, they just need a break!
Before you judge, (like I used to) or think, how could someone not want to take care of their loved one?... A family member of one of my Clients who was a Senior Care expert put it to me this way:
"People think that just because our parents took care of us we need to take care of them. But when they took care of us, they were in their twenties and thirties- We are in our 50's and 60's!"
Another one of my Private Clients told me that she didn't want her kids to take care of her. She said, "They have a family of their own, I don't want them to have to worry about me....."
You Can Charge More!
The suggested amount to charge for your private Senior Care services is $20-$25/hour, but that doesn't mean that you cannot charge more!
When I started my small business, I started out charging $15-$20/hour-the majority of my colleagues charged $20.00/ hour.
My private paying Clients were happy with my service, my fees, and never complained batted or blinked an eye when they handed me cash or check!
We were making well above the average Professional Caregiver as Sole-Proprietors!
That was 8 years ago! (And beyond for the Professional Caregivers who had been self-employed way before me!)
So it is not totally outrageous or ridiculous for self-employed Professional Caregivers to charge $25-$30/ hour even if you are inexperienced and just getting started!
(I will also be sharing how you can make $100/hour as an advocate for Seniors, people with Disabilities, and other long-term illnesses in another blog post.)
MOST Senior Care Services that are in demand are NON-MEDICAL! Read What Type Of Services Can I Provide To The Disabled and Senior Community?
In fact, many are called Personal Care Attendants or Senior Personal Care Assistants.. ORRR,... Just plain ole "Attendant." ( I will have to write a blog on all of the different titles and names that a Professional Caregiver has!)
Anyways!.., If large Senior Care Services are currently paying Professional Caregivers anywhere from $7.50-$17/hour, how much do you think that they are charging their Clients in order for them to profit?
So what does this mean for you? It means that you and you alone, as a Professional Caregiver Entrepreneur can charge $30.00/hour!
You ARE the business!
As owner, administrator and direct care provider you have a huge competitive advantage!
I speak with and have encountered several Professional Caregivers offline who have told me that they want to do what I do.
Some of them have been in Senior Care for a long time, and have not reached even half of the full financial benefits from this field!
Just think, if you can assist and help ONE Senior Client........... All it takes is ONE!
Do you know how many Professional Caregivers who are employed at Senior Care Facilities call off on the weekends??
Weekend only assistance for Seniors and People with Disabilities is also very much needed! You can use this to your advantage in your own Mini Care Service.
Let's Do The Math!
Income Scenario #3:
Triple Your Income!
ONE Client----Weekends Only----- Friday Saturday and Sunday at $30.00/hour (Overnight weekend help!)
72 hours @$30.00/hour =$2,160
$2,160×4(weekends in the month)=
$8,640 a month!
Even at $25.00/hour for the weekend, you will make $7200/ month=$86,400/year
There are Senior and Disabled Clients that need help 24/7 and most likely it will not take you a year, 6 months, or even 3 months to begin assisting your first Client because the demand is greater than the business!
This seriously is almost an immediate and instant gratification business! Why?
Because the Senior and Disabled Community needs 24/7 assistance like RIGHT NOW... Like, as soon as you agree to assist them.."I'm so glad we found you , can you start assisting mom and dad today?".....
Like, money in your hands before or after your services RIGHT NOW...
Usually nobody wants to work on the weekends, but if a Professional Caregiver Entrepreneur has a weekend only Client, they make their weekends work for them!
Do whatever you want for the whole week-and if you don't want all of your weekends taken up, partner with someone who has the same professional business work ethic as you, and assist your Senior or Disabled Client/s 2 weekends a month.
Whether you decide to split the pay, or allow your assistant to receive full pay over the 2 weekends that you are off, you will still make way more than a Professional Senior Caregiver who is employed.
Or, you can have another Professional Senior Caregiver assist your Client once a month, or whenever needed!
Depending on your Senior or Disabled Client, it could be Sunday, Monday, Tuesday, and your done!..
Something to think about:
What if your Senior Client and their family says that they are running out of money after you have been assisting them for.... let's say 3-5 years at $25-$30/hr, and they offer you $5 or $10 less an hour, would you continue to assist them?
Some may leave and find someone else to assist, but personally I would say,
"Of course you should"!- because you will STILL be making good money, and if you need to, you can always compensate the loss by gaining other Senior Clients.
I have not had this happen to me, but it happens in large Senior Care businesses.
As an Independent Professional Caregiver you can plan ahead, and be more understanding and flexible with your terms and pay if this occurs.
I am giving you the financial figures because this is a real business with real pressing needs, and a whole lot of financial misconceptions about the field of Professional Caregivers.
When I discovered that I was making the same income as a License Nurse without a license, and then at the same time hearing and reading about how undesirable Professional Caregiving was,
I wanted to share my positive experiences which are just the opposite of what I was continuously hearing and reading about!
I didn't understand why after all of this time, Senior Care workers were still complaining, didn't and couldn't see no way out, or felt stuck.
Some seemed to still despise their job, and even despise the Seniors who they were assisting!
What's going on?
Then I started to remember how I felt when I loved what I did, but was making the same amount of money as a Certified Nurse Aide in my 20's that I had made at 16 years old in retail!
I knew that having my own Senior Clients was possible, but I really didn't see it as an actual business.
I even missed out on quite a few business opportunities because I didn't get it!
Family members who visited regularly at the Care Centers that I used to work for, and some Seniors who were living there temporarily, would ask if I would assist them at home after they got discharged .
Back then, I didn't know the business side and always thought to myself, will my pay be stable?...., how long will they need me?...., Are they serious?....
Instead of me just actually going to see about these offers, I felt obligated to a job in which there was no contract signed.
No matter how good or sincere I was, I had a small case of "employee mentality."
There was opportunity all around to work less hours with less clients, and make more money- But I talked myself out of it because of some simple questions that could have easily been answered.
Though some Senior Care workers are clearly in the wrong field, there are still so many who are good and leave the industry because of the pay and work environment- like I did for 3 years before I started my own Senior and Disabled Care service. Read Specific Circumstances and Events That Led Me Into Becoming My Own Boss-Part 1 and Part 2.
Even with just 1 or 2 Clients- Elder and Senior Care is a true service, with hidden money making potential for those who may have never considered this type of business, and to those who currently assist them every day with low pay.
No matter what, always remember:
1. Seniors control over half of America's wealth. Deloitte-US Generational Wealth Trends
2. The Home Health Industry is the fastest growing Industry!
US Bureau of Labor and Statistics reports that there will be 1.3 million JOBS to be added in Senior home care now through 2020...
Further proof that there is no scarcity when it comes to assisting Seniors and the Disabled.
There never really has been, the demand is just higher and growing at a faster rate.
Start enjoying your own Clients, meet the growing and demanding needs of the Senior and Disabled community, and make a 6 figure income while your at it!
Begin your Small or Mini Professional Caregiving Service today with only ONE Client! (This is different and easier than starting a Senior Care Agency.)
PS: Private Paying Senior and Disabled Clients don't mind paying for honest, professional, above and beyond, personalized, one on one services..