With advances in technology and medicine, a lot has changed over the last few decades. There are more discoveries and treatments invented every day, while research is being conducted and advanced constantly.
With these many developments, people are living a lot longer than ever before. This aging population has created a higher need for senior care and wide array of establishments that cater to the older generations.
The franchising industry has taken advantage of the high demand for such necessities and created a profit that supports the community and helps people retire in comfort, while developing a strategic business opportunity.
Senior citizens make up a huge portion of the U.S. population, according the census bureau there were 41.4 million people age 65 or older in 2011, up from 40.3 million in 2010. In fact, as the baby boomers are aging, the projected number of seniors in the country will reach 92 million by 2060
This ever-growing population has created a huge opportunity for franchises. Compelling to those with a heavy heart, it allows a business owner to be a part of a caring industry that is helping many people during a turn in their lives. Franchisees can take pride in knowing that their commitment and work is helping support people, while also putting their client’s loved ones minds at ease.
The senior care franchising system is well-established and regulated. There are many legalities and protocols to follow in such an industry, but franchising has allowed owners to be guided properly and receive a generous amount of support. The franchisor had already secured the many details to ensure that a franchisee not only follows proper procedures, but can have confidence in knowing they are providing proper care by following the already determined guidelines.
In home services provides those living in their own home the services they need and may have difficulty performing. This could include meal preparation, medical support, grooming, or house keeping, to name a few. Not many franchises offer medical support because it comes with a lot of legalities and regulations.
Franchises will need professionals as employees, depending on the services they offer. Though that comes with a lot of red tape, franchisees are provided the proper training and regulations to follow. Some businesses may have a recruitment process before the owner officially starts business. Recruitment requires a large staff, for the most part and can be a tedious and strenuous process because it is an assistance industry, there has to be particularity in hiring to insure the clients are treated with the utmost care.
Franchisees should be prepared to manage a large staff and even if recruitment is provided at the beginning, with a high turnover rate for caretakers, franchisees may be consistently seeking talent, training and performing orientation.
This may or may not be a mobile business, without a physical office for the franchisee and staff. Though this creates less start-up costs and the freedom to work with clients on personalized schedule, an actual office may give a franchisee more stability and a physical branding throughout the community.
Senior care usually requires a substantial time commitment, but once the business is established and a reliable team of employees is set in place, a franchisee can step back from a few duties. Franchisees have to create a connection with their clients and create a reputation in the community in order for their company to be recognized. In high times of demand or need, a franchisee may have to step up to the plate and provide a service. Services are usually offered all hours of the day, which means an owner may have to be constantly available.
That is why it is important for those interested in senior care to be passionate about the work they do and enjoy giving back to the community. The more personal relationships the franchisee creates with their clients, the more successful their business will be.
The U.S. economy has recognized the growing population and has responded to the need for senior care. There are many living assistance companies, which creates a huge competition base. Franchisees are not only competing with other franchises but also some small business owners and private companies. Again, this is why it is extremely important for those interested in senior care to be passionate, hard working and willing to create connections with their clients. A franchisee is in control of their own reputation and in order to succeed in such a competitive industry, their brand and community establishment is detrimental to the outcome and profit of the business.
Though senior care comes with a lot of work and time management, it can be truly rewarding and create positive impacts on the community. Not only that, but those who are committed usually have successful results and a need for this type of industry will never disappear as the population continues to grow.
Not only are more people needing assistance but with a longer life expectancy, they are acquiring services for a lengthier period of time. Though family members are willing to help their loved ones with certain assisted duties, it has not taken a hit on the industry. In 2006, 23 per cent of Americans provided care for someone over fifty and it is predicted that nine million seniors will require long-term care in the future.
With seniors wanting to remain in their home for as long as possible, even with a family members help, they will require some extra assistance.
Living assistance franchises are organized, reputable and they help a lot of people in a time of need. With an ever-growing target audience, it is a business that will generate a lot of success, as well as compassion, given the right franchise owner.
ABOUT THE AUTHOR: After receiving an English Degree, followed by a Journalism Diploma, Gina Gill became a freelance journalist in 2008. She has worked as a reporter and in communications, focusing on social media. She currently works as a community information officer with Epilepsy Society, while pursuing her writing career at the same time.
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