Why Buy a Home Care Franchise in Virginia Beach–Norfolk–Newport News?
As the home of Virginia’s largest city, one of its strongest local economies, and a growing market for senior care, the Virginia Beach–Norfolk–Newport News is an attractive location for home care investors.
In a recent survey of our available franchise territories, the Hampton Roads area ranked near the top of the list for its existing conditions and growth potential.
Below, we’ll detail what makes the area such a strong fit for a Senior Helpers home care franchise.
Growing Senior Care Market
The Virginia Beach–Norfolk–Newport News metro area is home to 1,768,956 residents. That number includes 260,491 residents aged 65 years or older. This represents 14.7% of the local population. What’s more, over the next 10 to 20 years, that number is projected to rise even further.
In addition to its large senior population, the area is also home to 336,920 adults between 50 and 64 years old. This accounts for an additional 19.1% of the population. As this generation of residents ages, the local market for senior care will grow even further.
The Hampton Roads area boasts one of Virginia’s strongest local economies. Bolstered by employers in the defense, aerospace, and hospitality sectors, the region offers a stable market for small business investment. Over the next ten years, job growth is projected at 33.2% — on par with the national average.
Along with an aging population, the Hampton Roads area displays impressive local spending power. In the Virginia Beach–Norfolk–Newport News metro area, 31.5% of households earn $100,000 or more annually. This offers a strong benchmark for the number of local households that can invest in ongoing senior care services.
Available Franchise Territories
We consider Hampton Roads an excellent fit for the Senior Helpers brand, and it has a number of local territories that are ideally suited to a home care franchise. Our available territories in Hampton Roads include affluent communities like Newport News, Norfolk, and Chesapeake.
By purchasing a franchise in Hampton Roads, you can choose where to locate your franchise and focus your service area. Each Senior Helpers franchise includes a protected territory with a minimum of 30,000 seniors.