Take Advantage of Senior Home Care Franchise Opportunities in Your Community
If you would like to be your own boss and run your own business, investigating senior home care franchise opportunities might be for you. Opportunities with a senior home care franchise can be quite lucrative as it has an array of operational and economic advantages compared to traditional standalone businesses.
A Rapidly Expanding Field
One of the key advantages to owning and operating a home care franchise are the opportunities for growth. This industry is poised to grow by leaps and bounds over the next couple of years as well as the next decades. The number of Americans age 85 or older will double by 2030 and then double once again by 2050. The U.S. Bureau of Labor Statistics reports that senior home care employment will grow by a robust 70.5% by the year 2020.
Specifically, personal care aide positions will grow at a remarkable rate. These individuals assist seniors with their day-to-day living activities. This occupation ranks fourth in terms of projected growth across the next five years. In total, between 2010 and 2020, 607,000 personal care aide jobs will be added to the United States economy. You can capitalize on this rapidly growing field by taking advantage of senior home care franchise opportunities in your community.
The Chance to Be Your Own Boss While Making A Difference
While the senior home care field will present lucrative opportunities in the short term and long term, many entrepreneurs decide to enter this field for other important reasons. Many dream of being their own boss. Others will thrive in this industry because it allows them to do what they love. Senior care franchise opportunities allow you to make a living by helping others. This field offers real value outside of handsome profits. When you own a senior care franchise, you'll wake up every morning knowing that the work that you do that day will have a meaningful impact on the lives of others. You can't put a dollar value on that type of personal satisfaction.
A Team to Lean On
Another key advantage to owning your own senior home care franchise is access to the industry's leading minds. Your franchise network connects you to people who have had success in the senior home care field. You will be able to tap into the minds and experience of industry leaders and fellow franchisees who have overcome the challenges that confront your business. You will have regular access to critical business management support, marketing materials, and the benefit of both national and local advertising programs.
Start Up Costs That Won't Impair Your Franchise
The startup costs associated with senior home care franchise opportunities are minimal. Did you know that it can cost a half a million dollars to open a fast food franchise? The majority of senior home care franchise opportunities cost $150,000 or less. This accessibility makes home care franchise opportunities a realistic option for every American who has saved money in hopes of one day starting a business. With most senior home care franchise opportunities, startup funds are directly invested in recruiting and training staff, marketing, and office space. The minimal barriers of entry combined with ample opportunity for profit motivates some to open second and third senior home care locations.
Higher Revenues than Independent Operators
While many entrepreneurs enter the senior home care field to better the lives of the elderly, they also have a profit motive. The field requires minimal up-front investment, but drives significant volume, especially beyond the inaugural year. You can establish connections with local resources who refer clients to home care providers.
The Backing of a Reputable National Chain
Independent home care operators may find it difficult to stay on top of the business as local, state and national laws evolve. It is also much more difficult for independent home care operators to obtain insurance coverage for their workers who provide care within the homes of clients. When you are a part of a senior care franchise network, these concerns are alleviated. National senior home care chains have the ability to lobby for laws that will benefit their franchisees. Franchisees are well known to insurers across the country thanks to the namesake and reputation of the national chain. These relationships generate a valuable rapport and facilitate access to affordable insurance coverage that independent operators can't obtain.
You can build a business and achieve personal satisfaction when you pursue senior home care franchise opportunities in your local community.
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