Low Investment And High ROI: Starting A Home Care Agency In 2020
With low start-up costs and multiple factors driving high returns, there’s never been a better time to consider starting a home care agency. Today’s post values the Executive Care opportunity in 2020.
The Cost Of Starting A Home Care Agency In 2020
With Executive Care, starting a home care agency has never been more affordable. Thanks to our ongoing process refinements, insider connections, and lean start-up model, the Executive Care opportunity is available for between $99,650 and $161,900. That’s a fraction of what some fast food franchises demand just for a downpayment.
This estimate includes the franchise fee, recommended operating capital, equipment/supply costs, training expenses, and just about everything else you need to run a successful home care company. It also includes your “safety net”—a chunk of working capital ranging between $45,000 to $68,000, which is reserved for use in case of emergencies or cash shortfalls in the early goings.
What’s more, you can make our low start-up investment even lower by taking advantage of our discount programs. We proudly participate in the International Franchise Association’s (IFA) VetFran program by offering veterans a 20% discount on their initial territory fee. Moreover, expanding your home care agency—or hitting the ground running with 2 or 3 territories—gets you access to further discounts. Second territories franchise fees are reduced to $35,900 and third territories are reduced to $29,500.
Starting A Home Care Agency Yields High Return On Investment In 2020
In 2020, population trends, supply-demand dynamics, and macro-environmental factors combine to create a fertile industry climate that promises high returns on your low start-up investment.
These are just a few of the factors at play:
- The aging of America is in full swing. The AARP estimates that more than 10,000 Americans turn 65 each day, driven by the mass aging of the Baby Boomer cohort.
- Americans are living longer than ever before. United Nations estimates figure the average lifespan at 78.93 years, which is an 0.08% increase from 2019 and a continuation of the “longevity trend” sweeping the globe. As our seniors grow older, they need even more help with mobility, chronic illnesses, and the activities of daily living.
- More than 90% of America’s seniors need home care support. The AARP’s Aging in Place survey found that 90% of seniors planned to remain in their homes as they grow older, which is only possible with the support of home care agencies like ours.
- Home care agencies deemed “essential” amidst COVID-19 pandemic. On March 19th, 2020, the U.S. Department of Homeland Security released its Memorandum on Identification of Essential Critical Infrastructure Workers During COVID-19 Reponse. Therein, home care agencies were deemed “essential.” Our owners and employees continue to operate at full capacity during the pandemic, implementing all CDC recommendations to keep our clients safe and supported during these unprecedented times.
Based on these factors, it’s clear that starting a home care agency has never been more profitable. But don’t take our word for it—see for yourself by calling 1-855-393-2372 and requesting access to the Franchise Disclosure Document.
Learn More About Starting A Home Care Agency With Executive Care
You can find dozens of free franchising resources on the Executive Home Care website, or call 1-855-393-2372 to speak directly with a franchise representative. All consultations are 100% free.