What Is In-Home Senior Care?In-home senior care is a wide-ranging term that refers to giving seniors various types of care and assistance that help them remain living at home in a dignified, independent state.
At Senior Helpers, we’re among industry leaders in providing quality and compassionate in-home care and assistance for our clients, ultimately allowing them to live the life they deserve while giving peace of mind to their loved ones and caretakers.
Ultimately, our franchises and their caretakers are here to provide a service to their community, providing unique and specialized care and comfort to seniors and their loved ones at a moment’s notice.
As a Senior Helpers franchisee, you get the best of both worlds: a chance to make a positive impact in your community as well as live out your dreams of business ownership.
You Don’t Need Prior Experience!Seriously! One of the perks of being a franchisee with a proven, established brand is the opportunity to receive expert training and continuous franchise support for the life of your business. Our franchisee training and support is among the best in the industry and prepares you for business ownership in our industry. We’re looking for savvy, businesses-minded individuals with great communication skills and an entrepreneurial spirit.
Of course, if you do have a background in a field that would lend itself to giving back to the community and helping seniors and their loved ones, such as a first responder or member of the military, we’re certainly not going to turn you away. In fact, for first responders and military members, we’re even offering a discount on our franchise fee!
Opportunity for In-Home Senior Care IndustryPrior to Millennials, Baby Boomers reigned supreme as the largest generation in our nation’s history. And as the youngest of the Boomers inches closer and closer to senior status, one thing is abundantly clear: the senior care industry is going to explode with business, even if only by necessity alone.
Per the World Health Organization, the population of people ages 60 and older is expected to triple by 2050, with the onslaught of that rapid growth expected to begin immediately. Of those two billion people (over one-quarter of the world’s current population), 20 percent will be aged 85 or older. And per the United Nation’s World Aging Report, the rate of individuals living greater than the age of 80 is expected to rise two percent annually.
So besides the obvious, what does this mean for the senior care industry?
Unfortunately, with age comes a greater risk of injury or debilitating diseases or conditions. As more people start living longer, it’s only fair to assume that a great number will be in need of in-home senior care services.
For example: The World Health Organization’s Department of Aging and Life Course reports that up to 42 percent of individuals over the age of 70 suffers injuries from simple falls each – and often times, those injuries can be exacerbated when the senior falls while at home alone. The presence of a caregiver can not only help prevent falls but also provide immediate assistance and an ability to immediately call for further medical help if needed.
Additionally, approximately 30 percent of all people over the age of 85 currently or will suffer from some form of cognitive decline, which is exactly the type of situation in which Senior Helpers caregivers can provide individualized care, assistance, and peace of mind to those affected and their families. In fact, we’ve even developed a specialized Alzheimer’s and dementia care program to help identify and treat seniors who suffer from the diseases.
But what about nursing homes and rehabilitation communities, you might ask. The reality of the situation is two-fold: no one wants to leave their homes and live in nursing or rehab facilities if it can be avoided, and in-home senior care is far more affordable than most people realize. This means the opportunity for our industry is greater than ever.
When surveyed, nearly 92 percent of adults responded that would rather live in their own home as opposed to a nursing home, according to Forbes, which added that there are approximately 55 million adults currently taking care of their parents, compared to just two million caregivers. Clearly, there is a need for our industry’s services.
Forbes also added that the current market for in-home senior care services is approximately $80 billion annually.
But there’s more: when it comes to franchising in this industry, you’re likely getting a bargain compared to investing in another industry. Some popular franchises (like fast food chains for example) can cost over half a million dollars for an initial investment, whereas an initial investment in Senior Helpers typically tops out under $120,000.
As for return on investment? We’ve already highlighted how profitable this industry can be, but here’s some further insight from Forbes:
“Home-health franchises can drive a lot of volume, especially after the first year’s ramp-up making connections with key referrers such as elder-law attorneys and social workers. Territories are usually large. Industry research firm Home Care Pulse found median franchise home-health revenue was nearly $2 million.”
“What’s more,” Forbes added, “franchise owners brought in substantially more than independent operators.”
By opening your own Senior Helpers franchise, you will be investing in a strong and growing market while providing a meaningful and necessary service.
Convinced yet? Give us a call today and speak with a representative to learn more about what comes next in your franchising journey.