Looking for senior care franchises? The aging population is creating a ton of entrepreneurial opportunity. We discuss a few things to consider before buying senior care franchises. We've also highlighted a few senior care franchises that we think are worth looking at.
Senior services is an industry that is poised for explosive growth in the years to come. There are currently about 36 million aging adults in America.
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Over the next couple of decades, that number is expected to nearly double, making senior care one of the hottest small business opportunities on the market.
Traditionally, the perception of senior care services has been limited to medical assistance and other businesses that meet the healthcare needs of the elderly. While there are certainly many excellent business opportunities in senior healthcare, a new breed of businesses and franchises has sprung up in recent years to meet the non-medical needs of our nation's aging population. These businesses provide seniors with services many of us take for granted, e.g. companionship and assistance in meeting the demands of everyday life.
Comfort Keepers is just one of the many franchises that has been created to meet seniors' non-medical needs. The company began in 1997 when a registered nurse named Kris Clum, a home healthcare provider, was prohibited by her employer from meeting the more mundane needs of her senior patients. Some of her patients needed help buying simple items such as a loaf of bread or a quart of milk, while others were simply looking for a few minutes of conversation to enliven their day. Rather than ignore their requests, Kris and her husband formed Comfort Keepers. In only a few short years, their company and its franchises have prospered tremendously by remaining true to their original vision to provide non-medical, comforting solutions that help seniors remain in their own homes.
Comfort Keepers isn't the only option in senior care franchising. There are many franchisors anxious to help the right business owners get started in this growing industry. To find the one that's right for you, start by researching as many franchising opportunities as possible and go from there.
Points to Consider
Senior care requires a special kind of business owner. Patience, flexibility, and sincerity are prerequisites for success in this industry. If working with people – specifically older people – is something you enjoy, then senior care franchising might be a perfect match for you.
Capable and trustworthy employees are another key to success in senior care. Since this line of work is exclusively service-oriented, you'll need to be careful to select employees that share your company's values as well as your commitment to seniors.
Comfort Keepers. Comfort Keepers provides companionship, meal preparation, light housekeeping, grocery shopping, recreational activities and other services to individuals and couples still living in their own home. They presently have over 525 franchise locations in North America.
Home Helpers. Home Helpers is another senior care franchise that provides non-medical services to seniors as well as mothers. They shop, run errands, prepare meals and check on clients over the phone. In 2005, the company reported 434 franchises located primarily in the U.S.
Visiting Angels. Founded by a former social worker, Visiting Angels Visiting Angels offers living assistance services including hygiene assistance, meal preparation, light housekeeping, errands and shopping and companionship services. They have 230 North American franchises.
Homewatch Caregivers. Homewatch offers non-medical and limited healthcare services to the elderly, people recovering from illnesses and people being rehabilitated after injuries. They currently report approximately 75 franchise locations.
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