Believe It or Not, the Senior Healthcare Franchise Boom Has Only Begun
The Aging of America is underway. More than 10,000 Americans are aging past 65 each day, which has created a never-before-seen demand spike for senior healthcare franchises.
But would you believe that it’s just begun? Today’s post runs down research data indicating that the senior care demand spike will persist for decades. Keep reading to learn more, or skip the read and contact our team directly to talk business at 1-(855)-393-2372.
The Demand For Long-term Care Services Is Relatively New
Historically, most medical care focused exclusively on treating “acute, episodic illness” until relatively recently (Schoen et al., 2009, p. 1). There simply wasn’t a huge demand for long-term senior care in the past because lifespans were shorter and medical science had not yet evolved to the point where we realized many of the challenges of aging were treatable.
As such, nursing homes only started to spring up in the 1960s to provide long term care outside the family, and home-based senior healthcare came even later than that.
Considering how young the industry is, it’s growth rate is even more impressive. Moreover, claims that the senior healthcare franchise boom has peaked seem woefully mistaken. Just think of how far the industry has come with home care solutions and assistive technologies in the past 10 years, and you’ll realize how much there’s room to grow yet.
The ‘2030 Problem’ Is More Than A Decade Away
Most demographers agree that 2030 will be a watershed year for seniors aging trends. That’s when seniors will outnumber children for the first time in history, and more than 20% of Americans will be over the age of 65. This has been dubbed the “2030 problem” because of the immense senior care burden that this unprecedented elderly population will be placing on our country’s healthcare resources.
Of course, for senior healthcare franchise owners, the “2030 problem” is more like a “2030 windfall.”
What we currently refer to as a spike in demand for senior healthcare franchise services is only a fraction of what we’ll see over the course of the next 10 years. There’s still time to get your business open and established as your community’s go-to care resource.
No Matter What, The Senior Care Industry Remains Resilient
Everybody gets old, and most of us will require some form of home care to maintain our independent lifestyles and achieve our aging goals. Recessions do not change that one bit.
Senior care is truly one of the most resilient industries you could ever invest in. Unless technology advances faster than we imagine and opinions on robot senior care change dramatically, the demand for senior care will persist for the foreseeable future.
It’s tough to predict how high the demand for senior care will climb, but no matter what, it’s here to stay.
Learn More About Starting A Senior Healthcare Franchise
To learn more about how to start a successful non medical senior healthcare business on your own, with or without experience, visit the Executive Care Homepage or call 1-(855)-393-2372 to speak with a representative near you.
Schoen, C., Osborn, R., How, S. K., Doty, M. M., & Peugh, J. (2009). In chronic condition: experiences of patients with complex health care needs, in eight countries, 2008. Health Affairs, 28(1), 1-16.