The essential components of a successful start-up are a good idea and the cash to launch it. Securing the latter can be tricky for would-be entrepreneurs who lack the means to self-fund their ventures.
It was for former nurse and Group Homes Australia founder Tamar Krebs. She went cap in hand to investors 37 times in 2011, before securing a backer for her concept of small, community-based care homes for elderly Australians with dementia. Seven years on, the company has 10 facilities in and around Sydney – proof that Krebs was on the money with her vision of offering a high-quality alternative to the large, institutional facilities which dominate the aged care sector.
“Persistence, patience and never giving up on your dream is key.”
Believe in your idea strongly enough and keep chipping away until you find someone else who does too, Krebs advises: “Persistence, patience and never giving up on your dream is key.”
So what is the magic formula for Group Homes Australia?
Having a clear why!!! Giving the elderly the dignity they deserve !!
“The model is based on individualising people as opposed to institutionalising them,” Krebs says. “The residents wake up in their own time. They get to participate in the cooking, the baking, the gardening and the shopping – to their capacity.”
Under its business model, a staff of six to 10 appropriately trained staff run each home. A head office structure sits above the business to look after administration.