So, you’ve done the research and determined that a senior care franchise is the right business opportunity for you. Now you’re wondering where to open your business in order to help the right people and have success.
Here is what we look for when deciding on the territory location for each franchise owner:
- Population density. Although you are not a retail business, it matters where you have your office and how many people are around that are likely to need what you offer. While there are of course people living in rural areas who need assistance with activities of daily living such as bathing, meal preparation and dressing, it can be difficult to deliver service exclusively to them, especially when there is a long drive for a caregiver. Each territory should have a population of up to 35,000 seniors (people who are age 65+).
- Medical hub. In order to provide supportive services with others who care for seniors and others, you’ll need to be in proximity to medical establishments. Over time, you will develop connections and referrals to shortcut how clients find you and receive care through your business.
- Higher than average household income. Although in home care can be paid for using long-term care insurance, veterans’ benefits, some life insurance, and even Medicaid in some instances, you will rely mainly on private pay for these services. This means that your territory should include people who can afford to pay for home care services out-of-pocket.
- Roots. You don’t have to be third-generation native, but it can be helpful to have a network in your market. Word-of-mouth is a powerful method to build your business for both finding new clients and recruiting quality employees. It helps to have a solid understanding of the community too as you go about advertising jobs or marketing your services.
While the care you offer is delivered where it is needed, territory location still matters when it comes to running a profitable senior care business today. Learn more about territory selection here.