Take Advantage of Franchise Opportunities During an Economic Downturn
Even as states start to slowly reopen their economies, businesses across the country are still grappling with the fallout of COVID-19. However, even in the midst of this economic upheaval, there are certain industries continuing to grow — and certain franchise opportunities opening up for motivated entrepreneurs.
The thought of starting a business in the face of such uncertainty may seem daunting, but, historically, these moments of crisis have led to significant growth in different business sectors. Just think of the astronomical rise of short-term rentals after the housing market crash of 2008.
The key is to find a franchise opportunity that aligns with your interests, and with the needs of the current moment.
Choosing the Right Franchise Opportunities in a Recession
To successfully start a business during any economic downturn, consider what you can offer to address an essential need — a need that must be met regardless of the financial climate. Is there a need that coincides with your experience, skillset, and personal passions?
If you’re interested in work that is both emotionally and financially rewarding and allows you to support your community in a concrete way, there is an enduring need that has been heightened by current public health concerns: home care services for seniors.
Senior care is an industry that has already seen substantial growth in recent years as waves of Baby Boomers have reached retirement age. The demand for senior care solutions, such as in-home care, is expected to increase dramatically over the next 10 years as the youngest members of the Baby Boomer generation reach the age of 65 by 2030.
Simply put, seniors experiencing cognitive or physical decline will need more support to ensure their safety and promote their long-term health. Additionally, given their vulnerability to COVID-19, seniors can benefit even more from home care services. With in-home care, seniors can ensure they receive essential goods and support services without being exposed to crowded public areas.
The Benefits of Opening a Home Care Franchise with Visiting Angels
As you prepare to enter this industry, keep in mind that hiring a senior care service is a big step for families. Your potential clients may feel apprehensive about entrusting a relative’s care to a company and a caregiver who is essentially a stranger. This is especially true at a time when we’re all closely monitoring our contact with others.
Because of this, you must give potential clients a reason to trust you and your business. By pursuing franchise opportunities with an established home care brand, like Visiting Angels®, you can benefit from our 20+ years of home care experience, the systems we’ve built, and the reputation we’ve earned for compassionate care.
Given its rapid growth and emotional significance, the senior care industry is bound to attract a flood of entrepreneurs in the coming years. As a franchise owner, you can gain a foothold in this field now by employing our tried and tested processes, and operating under a well-respected name.
To learn more about our home care franchise opportunities, contact Visiting Angels today by calling 800-365-4189 or requesting more information online.