6 Key Advantages of a Senior Home Care Franchise
The franchising market has never been as big, as strong, or as diverse as it is right now. This is great news for entrepreneurs looking to purchase a franchise business. But if you’re unsure which type of franchise business to buy, finding the perfect franchisor can feel like a needle-in-a-haystack situation. To narrow the field, you might focus on opportunities within a thriving industry, like the senior home care franchise sector.
Senior care’s booming market and long-term growth potential make buying a senior home care franchise a lucrative franchise opportunity. This is just one of the reasons why so many entrepreneurs are turning to the home care sector, which offers a number of key advantages for first-time entrepreneurs and new franchise owners.
Think a senior home care franchise might be a good fit for your skills and aspirations? Here are six reasons why senior care has some of today’s top franchise opportunities.
Why Choose a Senior Home Care Franchise?
- Senior Care Meets a Definite Need. Many franchise businesses are vulnerable to consumer trends and fluctuating markets. Senior home care offers a level of stability not found with other franchise businesses. Demand for senior care is dictated largely by demographics, and your clients will prioritize senior care services ahead of non-essential purchases. This can serve to insulate your business against volatile markets and make you recession-resistant.
- There’s a Growing Market for Care. Given that demand for senior care is so closely tied to demographics, we know that the senior care industry’s growth trajectory will continue upwards for decades to come. In 2016, seniors made up 15.2% of the U.S. population. By 2030, that number will increase to 20%. And according to recent projections, this number will keep increasing over the next several decades, reaching 23.5% by 2060.
- Low Initial Franchise Investment. For most people, the biggest barrier to franchise ownership is the initial investment required for a new franchise. In some cases, new franchise owners need over $1 million in liquid capital. That number is much lower in the senior care industry. A Visiting Angels® senior home care franchise requires a significantly lower investment. Detailed information on our initial investment costs and fees can be found here.
- Manageable Learning Curve. Many senior home care franchise owners have minimal home care experience prior to purchasing their franchise. Thankfully, home care is an industry with a manageable learning curve. If you choose a franchisor with a robust training program, and if you’re willing to invest the necessary time and energy, you can learn how to operate a successful home care agency in a matter of months.
- Franchisee Control & Flexibility. Different franchise systems offer varying levels of flexibility. Most fast food franchisors, for example, exert strict control over nearly every aspect of your business. If you’re looking for a franchise opportunity that puts you in the driver’s seat, a senior home care franchise could be the right fit. At Visiting Angels, for example, we provide the tools and materials needed for a successful home care agency, but you can use these tools and materials to build your agency according to your own vision.
- Opportunity to Make a Difference. Any number of franchise opportunities can lead to financial success. But a business should offer more than financial stability. It should also give you a feeling of purpose and the knowledge that you’re making a difference. A senior home care franchise can provide this in a way that few other businesses can, giving you the opportunity to improve the lives of elderly and disabled individuals.
Want to learn more about senior home care franchise opportunities with Visiting Angels? Call 800-365-4189 today or request franchise information online!