Apr 7

Care & Homecare are booming. Check this franchise

So you have decided that you would like to own your own care franchise

Congratulations! Done correctly, it can be both heartwarming and financially rewarding.

Companions play a crucial role in improving the quality of life for those who are not chronically ill, yet require some type of supervision and assistance. The recent census reports that the current year value of companion services is estimated at £16b and is expected to increase up as the Baby Boomer generation continues to age.  Here are some compelling statistics:

  • Seniors prefer to stay in the comfort of their own home.
  • The research concluded that “The older population is becoming the fastest growing segment of our country”.
  • 75% of “Baby Boomers” are approaching retirement age.
  • There are more people of retirement age than teenagers.
  • A vast majority of adult children live away from their parents, which makes providing assistance extremely difficult.
  • As medical technology advances, so does an individuals life expectancy.
  • Entrepreneur Magazine boasted that “Senior care was the hottest franchise idea for the year 2004”. They also explained that “Senior opportunity is only in its first inning, and dramatic explosive growth is still to come in the decade ahead”.

There are several ways to get into the Homecare business; start your own, buy an agency, or buy a franchise. Each has its own pro’s and con’s, but here we will focus on two; starting your own (with a little help!) and buying into a franchise.

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