These days, senior care franchise opportunities such as Senior Helpers seem to be popping up more frequently and there is good reason why. Not only is this a booming industry with lots of room for growth, but senior care franchises also have some distinct advantages over other types of business.
Here are just a few of the reasons why people are taking advantage of these franchise opportunities:
1. Increasing DemandNot only is there more demand in terms of the aging demographics, but there is more demand in terms of what those customers want. Baby boomers are causing a shift away from nursing homes and hospices, in favor of in-home care. They view in-home care as a way to maintain more of their freedom should they require chronic or long term care.
2. Tax IncentivesThe government also recognizes the increasing need for both nursing homes and personal care businesses. Because of this, business license, accounting and legal fees may be tax deductible. Contact your accountant or the IRS for more information.
3. A Larger PopulationThe customer base who will need these services is growing. According to the United Nations, the number of people who are over 60 will triple by the year 2030.
Additionally, people are expected to be living longer, further fueling the need for services such as those offered by Senior Helpers.
4. Smaller InvestmentCompared to other types of franchise opportunities, the initial start-up cost for a senior care business is quite reasonable. Consider that a fast-food franchise might cost $500,000 or more while the typical Senior Helpers franchise has an initial start-up cost of only $81,300 to $117,300.
5. High RevenueThe demand for senior care has never been higher and it is only expected to grow over the next several years. This means that even with low investment costs, the return on that investment tends to be quite high, making opportunities such as those offered by Senior Helpers very attractive.
6. Proven StructureAs would be expected in any type of health care related business, senior care has a number of regulations that must be complied with, which can make starting from scratch complicated. That’s why franchise opportunities have become so popular in recent years. The structure is already in place and new franchisees need only adopt what has already been approved and proven.
If you have a passion for helping the elderly and are considering senior care as a business, there has never been a better time. The work in this industry is both rewarding and profitable. Contact Senior Helpers today and learn how you can get started.