The State of Home Care Franchises in the USA
Today’s post illuminates the state of home care franchises in the USA by taking a closer look at 3 driving factors behind their success.
The Greying of America is Accelerating
Senior care literature frequently makes reference to the “2030 problem” — will health care providers be able to meet the country’s exploding care needs by 2030?
That question is still up in the air, but now we know the “2030 problem” was only the tip of the iceberg.
By 2050, there will be 1.6 billion people aged 65 or older. For the first time in history, there will be as many seniors as there are children.
So while home care franchises may be opening all across the country, they’re not making a dent in the demand. That’s a scary thought for most people, but it is great news for home care franchises.
Homecare is Still the Most Sought After Long-Term Care Service
A recent report by the AARP found that more than 90% of survey respondents planned to “age in place” at home with the of a senior care company like ours.
In-home care is a natural step on the care continuum, and is a suitable option for the majority of the population, particularly as technological and senior remodeling capacities continue to increase.
And since all senior care service is provided in the client’s home, home care franchises can cut out the substantial costs of operating care facilities. These savings are also passed down to the service user, increasing the value of your offering and maximizing your opportunities to make a difference in the community
Caregivers Themselves Need Care
Respite care is still a major driver in the home care industry in 2018.
As the senior population swells, family members, spouses, and friends are left to take on the role of caregiver. But many underestimate the mental, physical, and emotional burden of homecare until it’s too late.
The mental and physical health repercussions of caregiver burden are real. One study published by the Archives of Gerontology and Geriatrics indicated that “a high number of hours per day of caregiving is associated with low self-perceived health… poorer mental health, higher burden, [and] greater number of illness symptoms and chronic diseases” (Chang et al., 2010, p. 267).
Informal caregivers sometimes feel trapped and isolated in their roles. Often forced to deal with the care burden on their own, caregivers commonly report suffering from sleep deprivation, anger, depression, and an overwhelming feeling of loss of control.
Some are fortunate enough to have people willing to help, which can provide some temporary relief. But friends and relatives have their own lives and responsibilities.
That’s where we can help. Providing respite care is one of the most rewarding parts of running a home care franchise. Not only are you able to keep a senior healthy and comfortable in their own home; you also give the caregiver a chance to catch their breath. And it’s good for business, too–respite care is a great way to get started with clients whose care needs will evolve over time.
Learn More About Starting A Home Care Franchise
Visit https://executivehomecarefranchise.com to view industry reports, startup costs, FAQs, or book a free consultation with a member of our team.
Chang, H. Y., Chiou, C. J., & Chen, N. S. (2010). Impact of mental health and caregiver burden on family caregivers’ physical health. Archives of gerontology and geriatrics, 50(3), 267-271.