What Makes Aged Care Franchises So Successful?
The demand for senior care has risen to new heights.
Research by the U.S. Census Bureau indicates that the homecare industry more than doubled in value in a single decade. Spending increased from $30.4-billion in 2002 to $65.2-billion in 2012.
And by 2030, 1 in 5 people will be over the age of 65 and looking for help from aged care franchises like ours.
The demand for senior care is literally growing faster than aged care franchises can setup. There are no other industries undergoing this kind of dramatic growth.
We provide a valuable service for families in need.
The National Alliance for Caregiving reports that the average family caretaker spends 22 hours per week tending to the needs of their aging relatives. That’s essentially a part-time job, not including the time it takes to plan visits and make the drive.
Most people’s schedules simply won’t allow for them to take on a new part-time work commitment, even when they want nothing more than to support their loved one’s independent living.
Families are left with a few options:
- They can split the work between multiple family members, though this makes planning and scheduling even more of a headache;
- They can encourage their aging relatives to move into assisted living or retirement centers (though 90% of seniors prefer to “age in place,” according to The United States of Aging Survey);
- They can partner with an aged care franchise like ours.
As the success of our aged care franchise tells you, most families prefer the latter option. It’s the best of both worlds: families ensure their loved one receives the best care for their needs while keeping everyone’s schedules open for quality time and memory-making.
This opportunity to earn a living while providing a valuable service for families in need is one reason why partnering with our aged care franchise so rewarding.
We diversify our care package and cater to whole communities.
Home care agencies that provide skilled medical care have been around for quite some time, but clients often need more than medical assistance.
Some need help with housekeeping and meal preparation; others simply need transportation to an appointment or event.
Regular social interactions are powerful tools in the treatment of dementia, which is why companionship is such an essential service for many seniors. As research by the Personality and Social Psychology Bulletin showed, simple conversational stimuli promotes general healthy cognitive functioning. And some people are just lonely and in need someone to talk to.
With all that in mind, Executive Care has developed a comprehensive multi-service suite that includes homemaking, companionship, transportation services, and specialized care in addition to our standard medical care services. This allows us to open up revenue streams for our franchisees and give them the chance to care for the entire community.
Learn more about Executive Care at https://www.executivehomecarefranchise.com.
Senior in-home care a burgeoning business. (2004, July 23). The Colorado Springs Business Journal.
Ybarra, O., Burnstein, E., Winkielman, P., Keller, M. C., Manis, M., Chan, E., & Rodriguez, J. (2008). Mental exercising through simple socializing: Social interaction promotes general cognitive functioning. Personality and Social Psychology Bulletin, 34(2), 248-259.