With any large investment, you want to make sure it is well-placed and likely to yield the results you want. When franchisees start their new careers in the senior care industry, they are comforted by its steady rise over the past decade, and its encouraging outlook for the future.
Thousands of people are turning 65 every year, and the need has never been greater for in-home senior care. Perhaps more importantly, the awareness for this need has also been growing. In the past, retirement or assisted living facilities were considered the most viable option for senior citizens in need of specialized care, but now families understand the value of allowing seniors to age in place.
Senior Helpers is a staple in the senior care industry; we allow seniors to age in the comfort of their own homes and give them much-needed daily social interaction with dedicated caregivers.
If this sounds like an industry you can get behind, here’s a closer look at why the senior care industry is such a solid investment opportunity.
While the success of our franchisees is largely thanks to their individual level of dedication, willingness to learn, and implementing of healthy business practices, it is also due to the thriving senior care industry. 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. According to the World Health Organization, nearly a quarter of the world’s population will be 60 years or older by 2050. This means that the already-healthy senior care market is poised to grow even larger for decades to come, and the need for professional caregivers will only expand beyond an already booming need.
Unfortunately, the rate of injuries among the elderly is staggering. The World Health Organization’s Department of Aging and Life Course reports that 32 to 42% of seniors over 70 suffer injuries as a result of falls each year, adding even further stress and traffic to already-clogged local health care systems. In-home care is instrumental to keeping seniors safe in their homes and preventing these accidents from occurring, as well as relieving pressure on hospitals and emergency rooms.
It’s also worth noting that 25-to-30% of seniors over 85 suffer from cognitive decline. Alzheimer’s and dementia can be debilitating, and require constant care to ensure comfort and safety. In-home caregivers are perfect for providing the care and monitoring necessary to maintain the well-being and quality of life these seniors need.
The senior care industry isn’t just a good investment economically. Many franchises find the most fulfilling aspect of their job the ability to give back to their community on a daily basis, and feel like they’re making a difference in the lives of local seniors. It can’t be overstated how much families appreciate their caregiver, as it usually gives them much-needed peace of mind, and the confidence that their loved one is being expertly looked after.
If you’re excited about the opportunity to take advantage of the thriving senior care industry, fill out our form here to take the first step toward franchising with Senior Helpers.