Sector Spotlight: Valuing Senior Home Care Franchises for Sale
You might have noticed a rush of senior home care franchises for sale. Opportunities are cropping up all over the country, and home care franchises are expanding at record speeds.
But why? Aging is as old as time, and the healthcare industry isn’t anything new. So what’s behind senior care’s “hot commodity” status?
Today’s post shines the sector spotlight on the senior care industry to explain why there has never been a better time to consider those home care franchises for sale near you.
Why are Senior Home Care Franchises Such Hot Commodities?
Simply put, the demand for senior care has never been greater. And as the demand spikes, so too does the supply of senior home care franchises.
There are a number of factors underlying this unprecedented spike in demand for senior home care:
- People are living longer than ever. We know more about medicine, nutrition, and healthy aging than ever. Life spans are increasing annually, which is creating a “top-heavy” population pyramid, despite the fact that birth rates haven’t slowed in statistically significant ways.
- The senior population is bigger than ever. Between 2010 and 2030, America’s senior population will increase by 75% as the Baby Boomer generation ages past 65 en masse. That means more than 69-million seniors will be needing care by 2030. By 2050, that number will increase to over 89-million. Historically, this has never happened–for the first time in known human history, there will actually be more seniors than young people. Can you imagine a better time to pounce on a senior home care franchise for sale?
- The healthcare system is playing “catch up” with chronic care. Back in the 1900s, when only 4% of the population were 65 or older, doctors spent little time or effort studying and treating chronic illness (Spitzer et al., 2004). And why would they? The overwhelming majority of their patients were young and middle-aged people seeking treatment for “acute, episodic illness” (Schoen et al., 2009, p. 1).
Since then, the proportion of seniors in the US population has more than tripled, and life spans have increased significantly. But the healthcare system is still playing catch-up–the vast majority of hospitals and care facilities still emphasize acute, episodic illness. Private senior care companies have stepped up to fill the gap, but they’ve yet to make a dent in the demand for their services.
- Public healthcare resources are dwindling. The public healthcare system is already stretched thin trying to tend to the needs of the general population. There simply aren’t enough nurses, beds, and public healthcare facilities available to meet America’s unprecedented senior care needs; indeed, the Atlantic reports that 1.2-million job vacancies will emerge for registered nurses between 2014 and 2022, which is projected to be one of the hottest periods of “Baby Boomer” aging. This public healthcare shortage has created a huge opportunity for private healthcare companies, who now find their services in greater demand than ever before. This is another reason why you’re seeing so many senior home care franchises for sale in 2019.
Are Senior Home Care Franchise Opportunities Running Out?
With so many senior home care franchises for sale, you’d think that opportunities are drying up. But you’d be wrong.
Believe it or not, the rush of home care franchises for sale has yet to make a dent in the skyrocketing demand for care services. There has never been a better time to get involved in this business.
If you want to learn more about Executive Care’s home care franchise for sale, visit https://www.executivehomecarefranchise.com for investment breakdowns, training and support details, and online booking tools.