According to a new report by FRANdata, a research company that surveys franchises and breaking franchising news and trends, the home healthcare industry is wide open and only one-quarter of the market is occupied by largest 50 brands.

"This is a highly fragmented industry," said FRANdata President and CEO Darrell Johnson. "This is an important finding for investors because it means that any brand with the right leadership and resources put behind it can become the market leader."

FRANdata's new industry report found that the home health industry grew by 13 percent each year between 2006 and 2008, adding hundreds of more units that provide non-medical assistance, home care and other assistance such as shopping, cleaning and companionship services.

The majority of brands have been in business for less than five years and no brand has emerged as the clear leader of the industry, meaning entrepreneurs and small franchises have ample opportunities to expand in the coming years.