5 Reasons Home Care Franchising Pays Off
Franchising itself is growing more popular every year. More people are starting to pay attention to all the franchising opportunities and potential benefits of such an investment. It may come as a surprise to some that senior care is one of the most lucrative franchising opportunities. Home care has topped the list of desired senior care options for a number of years.
How Franchising Pays Off
Home care has proven to be one of the most lucrative franchising opportunities in the United States. In 2010, senior care was listed as one of the top franchises in the United States. Second only to real estate in terms of its average annual profit.
Of course, the first step in franchising would be to invest. There is a high potential for profits in the home care franchise. However, you’ll find the estimated investment is notably lower than if you were to invest in another franchise in such industries as food and automotive. This is due to minimal real estate and equipment requirements.
Statistics don’t lie, and the number of statistics pointing towards a continually growing senior care segment in franchising is undeniable. Experts predict that a whopping twenty percent of the entire population in the United States will be over the age of 65 by 2030. After that time, the percentage is expected to reach a plateau. However, the overall number of citizens over the age of 65 will continue to grow.
These predictions are proving to be accurate with each passing year. Of the number of elderly people currently seeking senior care, only about three percent are currently living in nursing homes. A majority are now seeking home care either with family or friends, hired services, or all of the above looking after their needs.
In addition to the rapid increase in the number of people joining the senior community on a yearly basis, there is no prediction that the need for these services will slow down any time in the near future.
There is a difference of opinion in how fast, but the general consensus is that the death rate for citizens aged 85+ is steadily declining. This means that the senior community is growing at a rate never before seen.
It can be difficult to get a leg up in gathering the funds for an initial investment in a franchising opportunity. One of the benefits in the home care franchise is that you will get support from the franchisor in arranging loans and obtaining funds. It will be much easier to get a loan for an investment when you have the franchisor vouching for you.
Aging is an inevitable part of life, going hand in hand with the passing of time. We all have to experience its effects at some point in our lives, and the first way we usually experience it is vicariously through the ones we love. Whether it is through our grandparents when we’re children, or through the aging of our parents during our own adulthood, we all experience the effects of age. Along with this usually a desire to help and care for those reaching the final stages of their lives.
There comes a time when it becomes difficult for the people we care about to make it through day-to-day life on their own. It comes naturally that we would want to do whatever we can to help. Reaching out to the elderly community and offering them succor and support by whatever means are available to us? It’s one way we can give back to those who cared for us.
Investing in franchising opportunities such as this is first and foremost a business-related decision. However, when you invest in something like home care, it can become a very personal thing.
What better reason to get involved than the statistics that predict a very successful franchise? A purpose which will inspire you to show up to work every day? With A Better Solution In Home Care, you can franchise with us. Call us today for more information on how to get started.