How To Start A Homecare Business For Elderly ‘Orphans’
Today’s post explains why and how to start a homecare business for America’s growing ‘elderly orphan’ population in 2020.
America’s ‘Elder Orphan’ Epidemic
The term “elder orphan” refers to someone who faces the challenges of aging alone, without family available to address their caregiving needs. The American Geriatrics Society’s official definition is as follows: “aged, community-dwelling individuals who are socially and/or physically isolated, without an available known family member or designated surrogate or caregiver” (Carney et al., 2016).
More than 1 in 5 Americans above the age of 65 are–or are at risk of becoming–elder orphans, according to research by the AARP. This builds on findings from a 2015 AARP Public Policy report that indicated that the ratio of potential family caregivers to seniors over the age of 80 would drop to 4-to-1 by 2030. All told, 23% of the Baby Boomer cohort will be without family caretakers in the next few years.
Homecare Businesses Meeting Elderly Orphan Care Needs
In response to the looming elder orphan epidemic, American Geriatrics Society recently developed guidelines for how policymakers and health care industry players might assist elder orphans, who are sometimes known in the research as “unbefriended” older adults. On the consumer side, elder orphans are encouraged to explore homecare businesses in their areas, which can effectively fill the care gaps left by departed or estranged families.
The best homecare businesses to fill these care gaps will offer a wide range of non-medical senior care services, including companionship, personal care, skilled care, housekeeping, dementia care, and more. Ideally, homecare businesses will also be able to link elder orphans to local community resources for seniors, which will help them develop social and care networks independent of their homecare service.
As you might imagine, the American Geriatrics Society guidelines are getting homecare business owners excited, effectively endorsing our services in communities throughout America. You can’t pay for advertising like that!
How To Start A Homecare Business For Elderly Orphans
There has never been a better time to get involved in this industry. In addition to the American Geriatrics Society’s endorsement of private homecare businesses as a way for elder orphans to fill care gaps, aging trends are creating supply-and-demand dynamics that other industries can only dream about. Most demographers predict that 1 in 4 Americans will be over the age of 55 by 2030, which puts 25% of the population at an age where hiring your company makes sense. Indeed, with 9 out of 10 Americans planning to “age in place,” unprecedented numbers of American seniors will be relying on homecare businesses like ours to achieve their healthy aging goals.
Best of all, there’s no experience required, thanks to our proven model and top-tier training, and the start-up investment is very reasonable.
Find out what makes Executive Care the perfect franchise to run in the midst of America’s ‘elder orphan’ epidemic and discover available territories in your area:
Contact Executive Care For A Free Consultation
Call 1 (855) 393-2372 or visit the Executive Care Franchise website to start your 100% free consultation and get all your questions answered.
Carney, M. T., Fujiwara, J., Emmert, B. E., Liberman, T. A., & Paris, B. (2016). Elder orphans hiding in plain sight: A growing vulnerable population. Current Gerontology and Geriatrics Research, 2016. Retrieved from https://www.hindawi.com/journals/cggr/2016/4723250/