In fact, an increasing number of franchise owners are asking for more than one franchise location because they understand and trust the basic franchise model of Senior Helpers and take note of the fact that the senior care industry is growing by leaps and bounds.
The senior population is slated to exceed 83 million people in the near future, which is more than twice the 2012 estimate. Seniors will soon make up more than a fifth of the U.S. population thanks to retiring baby boomers, according to the U.S. Census.
More seniors than ever need companionship, medical attention, and health screenings. Senior Helpers has been franchising since 2005 in order to help the most people by providing the widest range of services.
Senior Helpers provides companion care, post-surgical care, wellness visits, sitter assistance, and more hands-on care for seniors suffering from dementia and Alzheimer’s disease. It’s about compassion and offering felt care.
Multi-unit Franchise Ownership for an Expanding MarketThe number of retiring baby boomers who are entering retirement age, and the increased odds of accidents and falls as we age, means that the senior care industry is set to expand.
Home care is also a more affordable alternative to a residential care facility and it allows seniors to maintain their independence.
There’s always going to be a need for companion care and for home sitters to make sure that seniors, for example, are taking all of their medications as prescribed and getting enough exercise.
An Expanding Industry: Why Multi-Unit Franchise Ownership Makes SenseA lot of franchisees want to learn more about multi-unit franchise ownership and how an area developer agreement can bring that about. Franchisees pick up on the fact that a senior care franchise is relatively low overhead with an extremely competitive initial investment.
The low investment at Seniors Helpers is just over $80,000 and the high initial investment is still under $120,000. Senior Helpers is also ranked within the top 200 in Entrepreneur Magazine’s Franchise 500 ranking.
The low initial investment coupled with over 3% growth in the last year and an expanding industry are big contributors to the high ranking.
The fact that Senior Helpers franchise locations nearly tripled from 2007 to 2010 indicates there’s a broad demand for these services, and it hints at the fact that Senior Helpers and its area developers work hand to make multi-unit ownership a reality for more franchisees.
Multi-unit ownership provides more overall stability in that you’ll have more revenue streams and more chances to counterbalance underperformance at any one location.
In other words, multi-unit ownership allows you to offer more and potentially different services to disparate senior populations. One area might demand more companion care while another area could require that franchisees provide more post-surgical care.
Multi-unit ownership provides you with the resources and options to cater to a wider variety of senior populations. Seniors need help with a wide range of activities, including: chores, daily hygiene, companionship, meal preparation medication, activity planning, health checks, and getting enough exercise.
The More Practical Side of Multi-Unit OwnershipFrom a more pragmatic perspective, opening your second Senior Care franchise location will, on average, be easier than your first since you will have benefited both from training and real-world experience.
Attaining loans, building a support system, and learning how to find seniors in your community in need of your services is that much easier the second time around. Is multi-unit ownership right for you?