The market for senior care will continue to expand
Senior care franchises are a highly profitable franchising sector when one compares the median initial investment to average annual earnings. A growing population of the world is made up of senior citizens in need of quality in-home care. According to the World Health Organization (WHO), nearly a quarter of the world’s population (2 billion people) will be 60 years or older by 2050 and nearly 20% of them will be 85 years old. The United Nations has released a “World Population Aging” report which states that the rate of growth in people over the age of 80 is expected to be about 2% every year. This means that the market for senior care businesses will continue expanding.
Researchers and government leaders alike know that private and public healthcare systems will need to prepare to care for these older individuals.
Senior Care Franchise Industry
The WHO’s Department of Aging and Life Course (ALC) reports that 32 to 42 percent of individuals over the age of 70 suffer injuries that result from falls each year. This adds stress to already strained local health care systems. In addition to this, 25 to 30 percent of everyone over the age of 85 suffers, or will suffer, from some form of cognitive decline. Diseases such as Alzheimer’s can be moderately to significantly debilitating and require constant care to ensure comfort and safety.
By owning your own home care assistance franchise, you will be taking advantage of this growing market and providing a necessary service to senior citizens in need, as well as to their families and communities.
These factors make eldercare a vitally important service and have contributed to making eldercare one of the strongest industry sectors to invest in for those seeking a franchise opportunity. By opening your own Senior Helpers franchise, you will be investing in a strong and growing market while providing a meaningful and necessary service.