3 Important Things You Should Know About the Senior Care Industry

3 Important Things You Should Know About the Senior Care Industry

September 17, 2018
Categories: Blog

There are countless industries you could choose to enter when selecting a franchise, so why senior care? When franchisees begin their new careers in the senior care industry, they are always comforted by its strong economic performance over the past decade, and its promising outlook for the future. Thousands of people are turning 65 every year meaning the need has never been greater for in-home senior care. In the past, retirement or assisted living facilities were considered the most viable option for senior citizens in need of specialized attention, but now family members understand the value of allowing seniors to age in the home. When you start a career in the senior care industry you’ll be helping seniors to age in the comfort and familiarity of their homes and giving them much-needed daily social interaction. Here’s what you should know about what makes our industry a unique investment.

A Promising Outlook for the Senior Care Industry

While the success of our franchisees is largely thanks to their individual dedication, it is also due to the thriving industry in which they operate. By 2020 the senior care industry is slated to add at least 1.3 million new jobs in the in-home care market while at the same time revenues for the global home health sector are projected to grow to $300 billion. The number of seniors is growing rapidly each year meaning the already-healthy senior care market is poised to expand even more.

Increasing Demand

The rate of injuries among the elderly is, unfortunately, staggering. The World Health Organization’s Department of Aging and Life Course reports that 32-42% of seniors over 70 suffer injuries as a result of falls each year. In home care is instrumental to keeping seniors safe in their homes, preventing these accidents from occurring, and also relieving the stress on congested hospitals and emergency rooms. Apart from physical accidents, it’s also worth noting that 25 to 30% of seniors over 85 suffer from cognitive decline. Alzheimer’s and dementia can require constant care to ensure comfort and safety, and in-home caregivers are perfect for providing the kind of specialized care seniors need.

Giving Back

The senior care industry isn’t just a good financial investment. Many franchises find the most fulfilling aspect of their job to be the ability to give back to their community on a regular basis and feel like they’re making a difference in the lives of local families. Our industry is unique because franchisees can truly make powerful connections with those in the community and go home each night feeling like they’ve helped improve someone’s quality of life. It can’t be overstated how much families appreciate their caregiver and the peace of mind Senior Helpers affords them. If you’re excited about taking advantage of all the senior care industry has to offer, fill out our form here to take the first