Identifying Strong Elder Care Franchise Opportunities
The elder care market is stronger than it’s ever been and is only poised the get stronger over the next fifteen years. But as with any investment, the right elder care franchise opportunity depends on a number of key factors.
At Visiting Angels, we’ve spent the past two decades perfecting our franchise model for budding entrepreneurs and savvy franchisees. As a result, we know what it takes to translate opportunity into success.
We’d like to share a little bit of that with you. To help, we’ve put together this short guide to identifying strong elder care franchise opportunities…
Evaluating Elder Care Franchise Opportunities
When it comes to your success as a franchisee, so much relies on finding the right franchise. As the #1 rated home care franchise in Franchise Business Review’s 2015 survey of franchise owners, Visiting Angels has earned its reputation as a top-of-the-line elder care franchise opportunity.
Because of our success rate in turning new franchisees into successful business owners, we know some of the key characteristics of a great elder care franchise opportunity. These include:
- Robust training opportunities in elder care and entrepreneurship.
- Readily available corporate guidance for new franchisees.
- Marketing support for new franchise owners on both local and national levels.
- Protected territories.
- A strong reputation among franchise owners and entrepreneurs.
Spotting Local Opportunities for Elder Care
Choosing the right elder care franchise opportunity involves more than picking the right franchise. It also involves picking the right location. Here are some of the steps you should take when evaluating territories for your elder care franchise:
- See what available territories are offered by your target franchisor, then request information.
- Make a list of territories you are interested in.
- Use demographic information to evaluate each territory’s potential.
- Look for areas with large existing senior populations.
- Also check for large populations of 50 to 65 year-olds. This group represents growth potential.
- Compare this data against income distribution. Area’s with healthy middle-income and upper-income represent strong opportunities.
- Don’t be afraid to ask your target franchisor for guidance. After all, they will know best what leads to success for their franchisees. Also, this will give you a chance to see what kind of insight and support they offer to new franchise owners.
Learn more about the elder care franchise opportunities offered by Visiting angels today by contacting our team for more information.