How You Could Save Money When Running a Care Home

Running a care home can be extremely expensive, there are no two ways about it. This is, however, to be expected: you are caring for a lot of people, all living under the same roof. You have bills and wages to pay, a very large property to maintain, and a business to run. 

This means that thoughts about your budget will always be at the front of your mind when making any decision. It also means that you have the potential to make savings in many areas. And all without cutting any corners and maintaining standards. 

A nurse helping an elderly woman in a care home

#1 Opt for High-Quality Equipment

As a starting point, are going to need to source high-quality equipment that will last you a long time, and that you can maintain properly. Although there will be a greater initial outlay, you will find that this is cheaper than buying low-quality products. And you need to constantly replace as they break.

You need to find a reliable supplier like to make sure that you have the biggest choice possible. The right supplier can also offer savings on other supplies, such as the medical consumables you will be getting through every day. 

#2 Plan Events Carefully

Events can be important highlights in the otherwise dull life of a care home resident. But they are very expensive to hold. This can be Christmas, Easter, and some landmark birthday parties.

You need to think about catering, decorations, and entertainment carefully to get the best value. You will find that there are a lot of hidden expenses at this sort of time as well. Knowing what you are going to be doing well in advance can keep costs to a minimum.

Card party at the care home

#3 Increase your Budget by Fundraising

Fundraising can be a great way to make sure that you are getting the money you need to extend your budget further. You are likely to find that there are a lot of things that you are going to need extra money for which are essential. Especially if you have a resident that tends to break a lot of things out of confusion. You will find that there are a lot of generous people out there who will help your cause if you run sponsored events or raffles and competitions in the local area. 

#4 Have a Realistic Budget

Even with extra funds, you will still have to determine a budget. More importantly, you are going to need to stick to this budget – which is not always easy.

To achieve this, you might have to continually restate this to your team, which won’t make you popular. But it will help you divide up the money that you have in the most effective way possible.

Budget calculator

Final Thought – It all Comes Down to Planning

Planning is something that you might already be adept at, especially if you are running a care home. You need to make sure that you have multiple plans to fall back on if something happens, such as a few backup catering companies, that can help you out in a pinch.

You should also plan for unexpected costs and try to keep some money aside to help you with emergencies, such as weather damage or water damage to the building, or if there is a break-in. 

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