5 Signs It’s Time to Start a Home Care Franchise
Today’s post runs down 5 signs it’s time for you to start a home care franchise under the Executive Care banner.
- Senior growth trends are approaching the “sweet spot.” Currently, more than 10,000 people are aging past 65 each day, and home care franchise owners are loving it. After all, how many other industries can claim their target audience grows at that rate?
But don’t worry: there’s still time to get your business established before this growth spurt peaks. Demographers say that 1 in 5 Americans will be over the age of 65 by 2030, at which point seniors will outnumber children and the demand for home care services will surpass anything we’ve ever known. That means there’s still time to get in on the ground floor–you’ve got at least 10 years to ride this wave to unprecedented demand. If you’re planning to start a home care franchise, this is the “sweet spot.”
- You want to make a difference. Seniors need care all across the United States and around the world. If you’re looking for ways to affect positive change locally, nationally, or even globally, it might be time to start a home care franchise.
For many older adults in your community, access to quality senior care services will be the difference between “aging in place” and institutionalization. And as research by the journal of Social and Behavioral Sciences shows, quite often “institutionalization of the elderly leads to loneliness, isolation, and eventually to depression” (Runcan, 2012, p. 109). You can make a difference and help your community members achieve their successful aging goals.
Moreover, when you start a home care franchise, you also create rewarding career opportunities for caregivers and office staff.
Beyond creating jobs and providing direct care to community members, starting a home care franchise also helps alleviate the national senior care burden. Private home care franchises free up registered nurses, occupational therapists, and other medical resources, and they’re valued for it.
- You lack training or experience. If you badly want to start a home care business, but don’t have any qualifications or skills to monetize, start a home care franchise instead. The Executive Care training program covers everything you need to know to offer premium level senior care services, and our ongoing coaching and support makes help available whenever and wherever it’s needed. No previous training or experience is required.
- You’re tired of working for somebody else. While you will need to follow our proven business process in order to use our brand name and benefit from our sales and marketing systems, franchise owners enjoy plenty of autonomy. And you’ll never have to answer to your boss at your 9-to-5 again!
- You can afford to start a home care franchise. It costs less than you think. For most, the initial investment will range between $99,650 and $161,900, which includes your franchise fee, recommended operating capital, and other startup costs. The investment cost is based on varying factors and may be subject to change depending on your location and franchise goals. Veterans may be eligible for up to 20% off their initial territory fee. We highly recommend having an additional $45,000 to $68,000 in working capital which is included in the initial investment range.
Learn more about how to start a home care franchise by visiting the Executive Care Franchise website.
Runcan, P. L. (2012). Elderly institutionalization and depression. Procedia-Social and Behavioral Sciences, 33, 109-113.