Why the Senior Care Industry Is Thriving
If you like to work with the elderly, help them maintain their independence and a high quality of life, and you have a bit of business acumen, then in home senior care franchises may be just what you are looking for. These franchises give you the opportunity to do what you are passionate and spirited about, while at the same time being your own boss. And, since it is a franchise opportunity, the hard work of starting a business has already been done for you. But why is this industry growing so rapidly?
The Growth in Senior Franchises
The fastest growing demographic in this country is the elderly population. Between 2000 and 2030, it is expected that this population group will double. As such, the industry that looks after these people in particular is huge. It is expected that, by 2030, some $490 billion will be spent on senior care, which is that of those over the age of 65.
How Does a Franchise Work?
Generally speaking, you will have to have a small office location, which can be your home. The franchise will provide you with all the training and support you need, including your licensing requirements if needed. What you invest in is an opportunity to build a big business, following a proven business plan. This offers you seven key benefits:
- The startup costs are very low, while the income potential is very high.
- The industry is 100% recession-resistant, as people will continue to age.
- You don’t have to have a background in medical care in order to become involved in it, as all training will be provided.
- It is very easy to get referrals in this business, coming from healthcare professionals, clients, and your personal group of friends, family members, colleagues, and acquaintances. Hence, you don’t need to spend a lot on marketing.
- You can offer a variety of different services, which means there are multiple profit opportunities as well. Exactly which services you should offer depend on your geographical location, and your franchiser will gladly assist you with this. Options include Alzheimer’s care, specialty care, nursing home staffing, childcare services, light housekeeping, personal care, meal preparation, errands, transportation, and companionship to name but a few.
- Because you are part of a franchise, any national marketing campaign is advertising for your personal business that you don’t have to pay for.
- Your franchisor will help you to recruit and train the caregivers who actually go into the homes of seniors to do the work.
When you become involved in senior care, you have the opportunity to build important relationships based on trust and respect, with members of your community. You will be delivering a vital service that ensures people can retain their dignity and independence, continuing to live in the homes where they have lived their lives for many years, and where they feel safe and comfortable. This is truly an incredibly rewarding job.