Financial Findings Why Starting A Homecare Business Makes Sense
In 2012, a USA Today survey reported that the homecare business model was one of the top 5 most profitable in the U.S. But how does the market look today? In this post, we discuss the profitability of the homecare business model, reviewing the start-up costs and benefits of entering this industry through a franchise system.
How Does the Homecare Business Industry Look in 2016?
Until someone happens upon the Fountain of Youth, the homecare business model will continue to thrive. As with previous market analyses, the projections for 2016 are great: the homecare business model continues to be one of the fastest-growing sectors in our economy.
10,000 people turn 65 each day in the United States, and nearly 90% of them will seek out the services of a homecare business as they grow older according to a recent study conducted by AARP. Demographic studies suggest that over 3-million seniors have been added to our country’s population over the past 5 years. By 2030, an estimated 1 in 5 Americans will be over the age of 65. That’s a huge swath of the population who will be seeking home care support services. All told, the homecare business model is part of a $55 billion industry that small business owners and entrepreneurs are now clamoring to be part of.
Additionally, the frequency and prevalence of mental illness is increasing in the US, which is placing greater importance on the presence of homecare business franchises with specialized support services. According to current medical research, a new case of Alzheimer’s is diagnosed every 68 seconds, and the likelihood of this disease doubles in adults every year they age past 65. Unfortunately, there is no cure for Alzheimer’s, but it doesn’t mean your loved one’s quality of life needs to be compromised. Executive Home Care staff are trained to provide care for those afflicted with Alzheimer’s, dementia, MS, Parkinson’s, ALS, spine and brain injury, and more. Thousands of families will turn to our homecare business to give their loved ones quality care.
Finally, there is a growing number of aging veterans who require top-notch care after the duty they’ve performed for our country, and the Executive Home Care team is specially trained to accommodate our nation’s heroes in this regard.
What Will It Cost To Get Involved?
Getting involved in the homecare business model is much more affordable when done as part of a franchise family. Here’s how the costs break down for prospective franchise owners:
- Franchising fee: $44,900
- Computer equipment: $2,000-5,000
- Signage and Trade Dress: $1,000-5,000
- Office Furniture, Fixtures, and Supplies: $1,000-5,000
- Prepaid Rent, Security Deposits, and Improvements: $600-2,800
- Insurance and Bonds: $2,500-5,000
- Legal and Incorporation Fees and Licenses: $750-10,000
- Travel, Lodging, and Meals for Training: $500-2,000
- Grand Opening Advertising: $2,000
- Additional Funds/Working Capital: $99,750-151,000.
Additionally, certain individuals will be eligible for discounted franchise fees, including veterans. You can get full details by visiting http://executivehomecarefranchise.com/our-opportunity/investment/.
Working with the Executive Home Care franchise family also gets you access to high-quality training, brand recognition, proven business systems, and around-the-clock support.
Where Are Key Franchise Opportunities Available?
Executive Home Care franchise opportunities are everywhere! Some notably active markets include:
Opportunities are not limited to these metropolitan hubs, however. Small towns near these city centers offer excellent market opportunities. You can learn more about available markets at http://executivehomecarefranchise.com/our-opportunity/available-markets/.