Senior Care Franchise Opportunities Still Booming in 2018
If you’ve spent any time researching senior care franchise opportunities, you’ve probably read plenty about the senior population boom and the profitability of this industry. But is it too late? Has the “gold rush” already ended?
In a word, no. Today’s post touches on a few reasons why it’s as good a time as ever to jump on senior care franchise opportunities near you.
America’s Senior Boom Continues To Break Records
The U.S. Administration on Aging estimates that there will be 72.1 million Americans aged 65 or older by 2030. If all goes according to plan, that means there will be another 12 years of unprecedented growth in demand for senior care services.
And nobody’s suggesting America’s senior population growth will slow down after that – 2030 is just where the majority of studies stopped counting.
But don’t think time isn’t a factor. While senior care franchise opportunities abound today, it’s only a matter of time before other investors and competitors catch wind of what this market has to offer. If you think this business is right for you, act fast and establish yourself as a senior care authority before the competition sets up.
Basic Senior Care Needs Are Still Unmet
A recent report titled The State of Senior Hunger in America found that 13.6% of seniors are marginally food insecure; 7.7% are food insecure; and 2.9% are very low food secure, which translates to 8.6-million, 4.9-million, and 1.8-million, respectively (Ziliak & Gundersen, 2018). That’s an astounding number of America’s elderly being left without enough to eat.
Malnutrition also remains a major issue for seniors. In addition to improving food choices and regulating caloric intake more closely, seniors need to watch out for “protein-energy malnutrition,” or “PEM,” according to a recent study in the Maturitas journal (Agarwal et al., 2013, p. 3). These issues are particularly widespread in traditional care settings, such as hospitals, retirement homes, and other long-term care facilities. In fact, multicenter studies evaluating PEM prevalence in acute care settings report that 23-60% of seniors are malnourished, while a further 22-28% are at nutritional risk (Agarwal et al., 2013, p. 4).
Though a number of seniors face financial struggles in old age, not all food security and malnutrition issues are related to poverty. Many seniors have as much difficulty physically purchasing and preparing food as they do affording it. Indeed, seniors with limited mobility or chronic pain may have fridges full of groceries, but still struggle to prepare nutritious meals on their own.
Given that such fundamental care needs are not being met, it is clear that there are still major gaps in America’s senior care system.
Though tragic, this paucity of qualified senior care also translates to senior care franchise opportunities. Executive Care’s business model and service packages offer the perfect solution to our seniors’ nutrition and food preparation problems. It’s a win-win situation: our franchisees made big returns on their start-up investments, and our elders get the quality of life they deserve.
Explore Senior Care Franchise Opportunities Near You
Agarwal, E., Miller, M., Yaxley, A., & Isenring, E. (2013). Malnutrition in the elderly: a narrative review. Maturitas, 76(4), 296-302.
Chari, A. V., Engberg, J., Ray, K. N., & Mehrotra, A. (2015). The opportunity costs of informal elder‐care in the United States: new estimates from the American time use survey. Health services research, 50(3), 871-882.
Ziliak, J. P., & Gundersen, C. (2018). The State of Senior Hunger in America. Retrieved from http://www.feedingamerica.org/research/senior-hunger-research/state-of-senior-hunger-2016.pdf