When to Take Non-Medical Senior Home Care Franchise Opportunities Seriously
If you’re thinking of starting a senior care company, 2019 is your year.
These are just a few reasons why there’s never been a better time to pounce on non-medical senior home care franchise opportunities:
- The senior population is bigger than ever before. By 2035, seniors will outnumber American children, thanks in large part to the mass aging of the baby boomer population. As this population surges, so too does the demand for senior care.
- Seniors demand home care in record numbers. A seminal study by the AARP found that more than 90% of surveyed American seniors planned to “age in place,” living out their years in the comfort of their homes. But for many, these aging goals won’t be possible without the help of homecare support workers.
- America’s “elder orphans” require care and companionship. An elder orphan is someone who is forced to age alone, with no family to address their caregiving needs, due to distance, death, or other life circumstances. According to AARP research, more than 1 in 5 Americans older than 65 are at risk of becoming elder orphans. These individuals will rely heavily on non-medical senior home care franchises for support, care, and companionship.
- Senior spending power is increasing. Data collected in the Cotton Incorporated Lifestyle Monitor survey indicated that the total global spending power of baby boomers will exceed $15 trillion by the end of 2019.
But not all non medical home care franchise opportunities are created equal. Some are pure gold; others are pure trouble. Don’t let this industry’s exciting growth obscure that fact.
So how do you separate the wheat from the chaff to create a shortlist of worthwhile opportunities? Google isn’t much help; with “non medical home care franchise opportunities” yielding 43,400,000 results in 0.65 seconds, finding the right company can feel like a needle-in-a-haystack situation.
Today’s post is meant to make life easier for investors evaluating non-medical senior home care franchise opportunities. To that end, we’ve created a handy checklist you can use to quickly find which opportunities are worth scheduling the consultation for.
Checklist For Non-medical Home Care Franchise Opportunities
- Is the company reputable? A quick Google search can tell you a lot. For example, a 5-second query shows that Executive Care is nationally recognized by Entrepreneur magazine, Forbes, Franchising.com, and the International Franchise Association. We also have a perfect record with the Better Business Bureau, and you can easily find dozens of glowing reviews on third-party sites from customers and investors alike.If you decide to look at the Franchise Disclosure Document (FDD), make sure to check out Item 3 to review their litigation history.
- Is the opportunity scalable? The senior care industry is growing daily, so your business should be prepared to grow with it. Steer clear of overly simple business models that leave no room for territory expansion or scaling up operations.For an idea of what to look for, check out Executive Care. Our model is designed to promote your growth, with an effortlessly scalable business model and increasingly valuable discounts offered for your second and third territories.
- Do they offer enough senior services? Seniors have very different non-medical senior care needs. The best opportunities will be those whose business models are designed to capitalize on these diverse care demands. Look for senior care companies that include housekeeping services, companionship, and multiple forms of non-medical care, at the bare minimum. Senior transportation and healthcare staffing are also great revenue streams available to senior care company owners, but many opportunities omit them.
- Is the opportunity reasonably priced? Take a look at the initial investment requirement. Does it include everything you need to get started? Is it reasonably priced when compared to other industry leaders?The Executive Care opportunity is available for $99,650 to $151,000. We are a premium care company with extensive support and comprehensive training. We simply designed our system to minimize costs and maximize franchise owner profit. If your current choice is priced much higher, there had better be a good reason!
Take A Closer Look At The Executive Care Opportunity
Visit our website to explore non-medical senior home care franchise opportunities near you or call 1 (855) 393-2372 to speak directly with one of our franchise development specialists.