The new year is always a time for change, growth, and new beginnings. For any entrepreneur ready to start something new in 2022, now is a perfect time to become a senior care franchise owner. Why? Because our industry is poised for great things over the next several decades.
After the pandemic, it’s no secret that many franchising brands had to adapt to continue serving clients while they were unable to provide in-person services. Senior care franchisors already had an established model to deliver exceptional offerings without changing significant aspects of the business. In fact, home care franchising is virtually pandemic-resistant, thriving in a $97 billion industry.
Now, as we enter the new year, it’s the perfect time to invest in a franchise (preferably with Homewatch CareGivers®, but we digress). And here’s why.
Home Health Franchising is Positioned for Tremendous Growth
We’ve said it before, but it bears repeating: home care services are in constant demand because 10,000 seniors turn 65 or older every day. However, this isn’t the only reason our industry is positioned for substantial growth over the next three decades.
Other reasons home care franchising continues to expand include:
- A growing economy – When the stock market is booming, high net worth individuals are more comfortable spending money on services like home care for themselves or family members.
- The increasing cost of independent living facilities – The average annual cost of care at a nursing home or similar independent living community is $50,000. Medicare and other private insurance providers don’t cover these expenses leaving aging individuals with fewer options.
- A desire to age in place – For many seniors, if the option to live comfortably at home is presented, nine times out of 10, they’ll choose to age in place. Research has shown that 16% of Americans 65 or older are small-town residents in rural communities.
For those interested in an in-home care franchise, there’s ample opportunity for prospective franchisees to support seniors and open up more options for independent living.
Technology will Continue to Expand and Change the Industry Landscape
Technological advances have always been a catalyst to propel generations forward. In the home care industry, technology creates a way for seniors to safely live independently and avoid injury and hospitalization. Several innovations from our industry have created efficiency, trust, increased return on investments (ROIs), and set many franchisors apart from competitors.
As the demand for home care services grows, new franchisees will find that technology has been integral in positively affecting the senior population and reaching new clients. With Homewatch CareGivers, new franchise owners will get technical and software training to market services, communicate with staff, and become more acclimated with our franchise network as a whole.
Franchise Ownership Gives You Complete Control of Your Success
One of the most significant misconceptions about franchising is that success is guaranteed because there’s a proven business model. While we and other franchisors can set potential franchisees up for success, it’s never a given that a franchise location will exceed expectations. Ultimately, the person awarded the franchise is the one in control of their destiny and success. This is actually an ideal situation for an entrepreneur hoping to move away from corporate America and steer their own course. Our franchise owners are in charge of their staffing, career goals, finances, and more.
Franchising Requires Much Less Risk Than Building a Business from the Ground Up
Even though an independent franchisee is the master and commander of their own success, we have a tried-and-true system that has proven effective time and time again.
The private sector of business usually requires:
- Investor funding
- Overhead costs for a physical location
- Development of a business model and mission
- Creation of a marketing plan
And that’s just the beginning. The growth of a business doesn’t have to weigh heavily on a franchise owner because there is a team of experts ready and willing to provide those ever-elusive trade secrets that make attaining business goals relatively fool-proof.
Get Ready to Make 2022 the Year of Franchising with Homewatch CareGivers
We can’t predict what 2022 will look like for everyone. However, we know that our franchise network and the in-home care industry are steadily growing. We’re continuously looking for experienced and enthusiastic professionals from all walks of life who discover a need in their communities and aspire to be the change they want to see.If you’re excited about making a positive impact in your community today, contact us or call (888) 718-5318 for more information about a franchise opportunity with Homewatch CareGivers.