Now or Never: Start a Home Healthcare Franchise Before It’s Too Late
Everybody knows the senior care industry is booming, so is it too late to start a home healthcare franchise?
Today’s post touches on why, when, and how to start a home healthcare franchise before it’s too late.
What Does The Literature Say About Elder Care Opportunities?
After minimal growth in the senior population during the 1990s, the ensuing two decades showed modest gains as the Baby Boomer generation started approaching 65 (Frey, 2010). It was during this period that Executive Care was first established. Market conditions favored those hoping to start a home healthcare franchise, as a relatively untapped industry enjoyed an uptick in service demand; between 2000 and 2010, America’s senior population grew by nearly half (Frey, 2010, p. 28-29).
But everything changed in 2011, when the leading edge of the baby boom generation born between 1946 and 1964 started crossing the 65-year marker in droves. Most projections figure the numbers of seniors to surge to 71.1 million by 2030, representing about 1 in 5 of America’s population. These estimates promise high and persistent demand for general senior care services for at least the next decade.
As our elderly population grows, seniors continue to spread far beyond areas usually thought of as “retirement magnets,” such as Florida (Frey, 2010). Now large concentrations of seniors live in cities across America, which in turn creates senior care business opportunities nationwide.
The Generations journal also reports that areas with fast-growing, aging-in-place populations tend to contain seniors with higher incomes and education levels (Frey, 2010). Once again, that’s great news for those intending to start a home healthcare franchise.
In addition to this spike in demand for senior care services, there has been a notable decrease in supply. Though America’s nursing segment is the fastest-growing labor force in the country, reports by the Atlantic indicate that roughly 1.2-million job vacancies will emerge for registered nurses between 2014 and 2022. Thus, even as America’s senior population swells towards its peak projection point in 2030, caregivers will be urgently needed.
Clearly, the literature indicates that now’s the time to start a home healthcare franchise.
How Long Does It Take To Get Started?
The answer to this question depends entirely on the road you take. For example, starting a business from scratch could require years of schooling, networking, and saving.
But those who choose to start a home healthcare franchise Executive Care can expect to be up in running in a few short months. Our training and support system, streamlined start-up process, and proven system help entrepreneurs hit the ground running, while our trusted reputation and national marketing machine bring clients to your door from day-one.
Can I Still Get In On The Ground Floor?
There’s still time to get a head-start on the competition, but the window is closing. The senior care industry boom is no secret, and as investors flock to the opportunity, markets will become crowded and highly competitive. In order to achieve the level of success that our franchisees enjoy, you’ll need to get established in your territory ASAP, and leverage our reputation, resources, and connections to your advantage.
Learn How To Start A Home Healthcare Franchise Today
If you want to learn more about how to start a home healthcare franchise, we invite you to explore our website at https://www.executivehomecarefranchise.com There you’ll find an itemized breakdown of our $100,000 opportunity, as well as answers to FAQs and direct lines to our representatives.
Frey, W. (2010). Baby boomers and the new demographics of America’s seniors. Generations, 34(3), 28-37.