A group home is a community-based, long-term facility for specific types of residents (juveniles) who cannot live with their families due to behavioral issues. It is important to state that some group homes treat the mentally ill and the disabled.
Available statistics show that there are now about 7,629 group homes (orphanages and foster homes inclusive) in the United States as of 2022, an increase of 1 percent from 2020. The data also shows that California has 754 group homes (orphanages and foster homes inclusive), Florida has 296 group homes (orphanages and foster homes inclusive) and New York has 284 group homes (orphanages and foster homes inclusive). These are the States with the most number of group homes in the United States of America.
Golden Generation® Group Home Facility, LLC will be based in Espanola, New Mexico. The organization will be committed to serving a small number of teens who will reside in a family-like setting with trained staff and effective programs.
We will house between 4 to 12 children per time in a family setting where they can make full use of community resources, including employment, health care, education, and recreational opportunities. Daniel Young is the founder and CEO of Golden Generation® Group Home Facility, LLC.
Golden Generation® Group Home Facility, LLC will provide a wide range of services that revolves around providing therapy, 24-hour supervision, and support to troubled teens in a home-like setting. We will also provide psychiatric services to emotionally disturbed children.
The orphanages and group homes industry is worth over $8 billion in the United States and there are about 9,623 licensed and registered correctional facilities and Group Homes with a workforce of about 124,872 scattered all across the United States.
Available statistics point to the fact that the industry is presently not growing and revenue for the industry has been adjusted from an increase to a decline of 8.1 percent in 2020 due to declining federal funding and donations. Since many operators are nonprofit, orphanages and group homes rely on federal funding and private donations. Since unemployment and consumer spending is anticipated to decline in 2020, leading to fewer donations, profit is set to decline.
Please note that in the coming year (2022), the revenue for the industry is anticipated to decline slightly, but as the economy recovers and COVID-19 (coronavirus) cases subsequently drop in line with the nationwide vaccination rollout, industry revenue will likely increase.
i. Age Range
Our channel sales strategy will involve using partners and third parties—such as referral partners, affiliate partners, religious organizations, nonprofit organizations, and charity to help refer abusive and abandoned children to us.
Golden Generation® Group Home Facility, LLC will also leverage the 4 Ps of marketing which are place, price, product, and promotion. By carefully integrating these marketing strategies into a marketing mix, we can have a visible, in-demand service that is competitively priced.
The fact that we will need educational materials, toiletries, medications, and foodstuffs means that Golden Generation® Group Home Facility, LLC will operate an inventory strategy that is based on a day-to-day methodology for ordering, maintaining, and processing items in our warehouse. We will develop our strategy with the same thoroughness and attention to detail as we would if we were creating an overall strategy for the business.
Our operational plan will cover capacity planning, location planning, layout planning, quality planning, and methods planning.
We plan to expand our revenue by 25 percent in the second year and the plan will include a marketing, sales, and operations component. The operations component of the plan would include attracting grants that will enable us boost our service offering.
Golden Generation® Group Home Facility, LLC would need an estimate of $550,000 to successfully set up our group home in the United States of America. Please note that this amount includes the salaries of all staff for the first month of operation.
At Golden Generation® Group Home Facility, LLC it is important to note that we will make our facility free of charge since we hope to attract enough grants and funds from donors.
Golden Generation® Group Home Facility, LLC will operate as a nonprofit organization.
Golden Generation® Group Home Facility, LLC will grow by first opening other outlets in key cities in the United States of America within the first five years, and then will start selling franchises from the sixth year.
Golden Generation® Group Home Facility, LLC plans to expand first to Chicago, IL, and then to Cleveland, OH, Detroit, MI, Atlanta, GA, and Baltimore, MD. The reason we intend to expand to these geographical locations is that available statistics show that the cities listed above have the highest juvenile delinquencies in the United States.
The founder of Golden Generation® Group Home Facility, LLC plans to exit the business via merger and acquisition. We intend to merge with an international charity organization that has a world spread so that the organization can be placed under a trusted hand when the founder retires.
The goal of combining two or more charitable organizations that are into group homes is to try and achieve synergy – where the whole (the new organization) is greater than the sum of its parts (the former two separate entities).