The Best Resale Franchise Opportunities in Senior Care
If you’re looking for senior care franchise opportunities, you have two options.
The first is to buy an undeveloped franchise territory and start a new business. If your goal is to join one of today’s premier senior care brands, it could mean choosing from territories that are not among your top choices. Most of today’s premier senior care franchise brands are firmly established and have limited open territories. Choosing a less established brand comes with its own risks as the franchisor could struggle to establish a national presence and create a solid infrastructure that benefits franchisees.
For entrepreneurs who understand the value of joining an established, premier brand, the second option is to purchase an established territory that is up for resale by its current owner(s). This will likely cost more than starting a new franchise. But it can land you a franchise with a top-rated brand and a lucrative protected territory. It also allows you to skip the business development phase of franchise ownership — a challenging phase for most franchisees.
If you find yourself excited about the opportunity of purchasing a resale franchise, identifying the best resale franchise opportunities is important. So let’s take a look at what goes into the best resale senior care franchises.
The Qualities of Great Resale Senior Care Franchise Opportunities
Thanks to the Baby Boomer wave, the senior care sector is currently experiencing rapid growth. This wave started roughly five years ago, but growth hasn’t been consistent across the country. Some communities are seeing a slowdown in the growth of their senior communities. Others are on the verge of surging demand. Still, others are seeing steady growth and a consistent senior population.
The best resale franchise opportunities fall into the second and third categories. If you acquire a resale franchise in a market that’s due for new or continued growth, you don’t need to worry about developing your business or your brand. You’ll already have your agency in place, ready to tap into this growth.
Loyal Client Base
When you buy a resale franchise, you benefit from an existing client base. With a senior care franchise, this should serve as a steady stream of income. It also provides a valuable source for word-of-mouth referrals.
But client retention isn’t guaranteed when you purchase a business. And if you purchase an underperforming franchise, you might inherit a less-than-ideal client base. So it’s a good idea to target resale franchise opportunities with strong and loyal client rosters.
Reliable Administrators & Caregivers
When you purchase an existing franchise business, the current staff can make or break the transfer of ownership. A capable and loyal administration team will ease the transition and keep things as seamless as possible. So it’s worth targeting franchise opportunities that have rock-solid administrators in place.
Caregiving staff are equally important for senior care franchise resales. Caregiver recruitment and retention is always top of mind for home care agency owners. If you can purchase a franchise with a great team of existing caregivers, you can avoid one of the biggest challenges that a new franchisee would typically face.
Whether you buy a new franchise or purchase an existing one via resale, you’re making a big investment. And except for rare cases, you’ll be holding onto this investment for years to come.
With this kind of financial and time commitment, it’s important that you find the right franchisor. That starts with finding a brand you’re comfortable with. But it also means finding a franchisor with long-term vision.
This is a big reason why Visiting Angels franchise units are so popular as resale opportunities. Our brand has a well-established track record of forward-thinking vision and growth-focused initiatives. And we’re well-positioned for upcoming trends within the senior care sector.
Here’s a quick snapshot of what makes our resale franchise opportunities so strong as long-term investments:
- Through Life Care Navigation™, we’ve developed a range of care services to serve emerging demand for specialty home care.
- Our national marketing and advertising efforts have made us into one of the most recognized and trusted brands within our sector.
- We provide local marketing support to all franchisees, keeping our locations up to speed with the latest market changes and consumer preferences.
- Every year, we host an annual conference of Visiting Angels owners, which includes workshops and seminars on the state of the home care industry.
Inquire about resale franchise opportunities with Visiting Angels today! Call 800-365-4189 or request information online to learn more.