Senior Care Franchises
“The senior care franchise opportunity is ideal for investors looking for more than a way to make a great living – they want to make a difference, too.”
People are living longer – good news for everyone, but great news if you’re looking for a franchise investment that is both profitable and personally rewarding. With rising healthcare costs, a Baby Boomer generation primed to live years beyond previous generations. The over-65 population in America projected to double by 2030, making the demand for senior care franchises huge. This industry deals with purchasers who are exceptionally willing to invest in quality care of their loved ones.
Senior care franchises can enable investors to make a great living while making other people’s lives easier. They provide in-home support services like transportation, grooming and bathing, meal prep and errands. Some franchises extend into medical care, as well. Many of these businesses also provide services to non-senior customers, such as post-surgical or post-partum care.
Senior care is a business that’s especially suitable for franchising. While there is a bit of “art” involved when it comes to dealing with concerned family members of aging seniors, there is a lot of “science” to the business, too. Strong, systems-oriented strong senior care franchises operate under a well-defined and proven set of processes and operational best practices.
Other benefits of senior care franchise ownership are that these businesses require relatively less investment capital than other franchise opportunities, and have a reputation for offering excellent guidance to their franchisees. In a category as high-touch and structured as senior care franchises, it’s important to have strong support when it comes to understanding the legal and regulatory issues involved. Aligning with a proven, reputable senior care brand is critical not only for the infrastructure it provides, but also because it will facilitate marketing efforts with the community.
While senior care franchises are a significant opportunity, they are best suited for a certain type of investor. They are extraordinarily people-oriented businesses – owning one involves managing a team of dozens in a small office, and up into the hundreds for larger operations. For this reason, successful owners are ones that most often have team management experience.
Additionally, senior care franchisees must be ready to be hands-on owners. Business development and community relations, in addition to day-today operations management, are necessary for the business to thrive.
Not everyone can make a living doing what they love, but everyone wishes they could. The senior care franchise opportunity is ideal for investors looking for more than a way to make a great living – they want to make a difference, too.