‘Essential’ Investment: Starting Your Own Home Care Business In 2020
Starting your own home care business amidst the COVID-19 pandemic sounds risky. But with Executive Care’s proven model, essential business status, and booming service demand, it’s a smart investment!
Home Care Businesses Deemed Essential Amidst COVID-19 Closures
A new study by the National Bureau of Economic Research seeking to measure how small businesses were adjusting to COVID-19 found that more than 100,000 small businesses in the United States have permanently closed down since the coronavirus outbreak was declared a pandemic in March. That equates to roughly 2% of all small American businesses, most of which were forced to fold as a result of mandated closures. The restaurant industry was hit particularly hard, with 3% of restaurateurs closing their doors for good, according to the National Restaurant Association.
“Overall, our results suggest that the pandemic has already caused massive dislocation among small businesses,” the study concludes.
But not all businesses suffered. Those deemed “essential” continued to operate, and they reaped the rewards, both in terms of profit, as the availability of substitutes decreased, and goodwill, as community members expressed gratitude for the risks workers took to keep the world turning.
In all states, home care businesses are considered essential. And rightly so—now more than ever, America’s elderly population relies on home care businesses to keep them safe, comfortable, and supplied.
Without question, Executive Care counts itself among the essential companies whose business is booming amidst the COVID-19 pandemic. Indeed, even before the essential business designation and the state of emergency was declared, Executive Care franchise owners enjoyed soaring service demand as the baby boomer cohort continued to age past 65 en masse, at a rate of more than 10,000 per day. But now it’s even greater.
Though your business start-up might look different amidst the pandemic, profitable opportunities abound in 2020.
Make An ‘essential’ Investment: Starting Your Own Home Care Business With Executive Care
In most industries, starting a business amidst the COVID-19 pandemic sounds like a recipe for disaster. After all, these are unprecedented times, with thousands of businesses facing uncertain futures and the constant threat of closure.
As discussed above, home care is an essential business with favorable supply-and-demand dynamics. Add proven systems, top-tier training, ongoing corporate support, choice territories, and a trusted brand name to the mix, and you’re well on your way to senior care success. That’s what Executive Care offers those interested in starting their own home care business.
And starting your own home care business is probably more affordable than you think. Our opportunity is available for as little as $100,000, which includes all the costs of start-up, as well as your territory fee, franchise fee, and $45,000 to $68,000 of working capital to retain in case of emergencies or shortfalls in the early months.
Learn More About Starting Your Own Home Care Business
Visit https://executivehomecarefranchise.com/faqs/ or call 1 (855) 393-2372 to book a free consultation and get answers to all the most common questions about investing in an essential senior care business in 2020.