02 Nov Senior Care Franchise Models That May Surprise You
Did you know that the US Census Bureau predicts 1 out of 5 US residents will be older than 65 years of age by the year 2030? This will be the first time in US history that “older people” will outnumber children.
This change has many entrepreneurs and caregivers seeking ways to get involved.
There are currently 4 distinctively different business models that exists in senior care franchising. I will briefly outline each of these below.
The first and most well known business model is Senior Home Care. I work with several brands that offer a turnkey system for those that are looking to enter the senior home care business. Most of these brands focus strictly on seniors, while a few others include at home care for new and expecting mothers as well as people with other illnesses.
The next senior business model I’ll describe is similar to a Home Repair Business. These are concepts that are designed around helping seniors get their homes better situated for comfort as their needs change. These companies specialize in things like home “to-do” lists and/or help with handicap accessibility by installing a grab bar, widening a doorway, adding a wheelchair ramp or remodeling a bathroom.
The third senior business concept is Senior Advisor and Placement companies. These companies assist families in locating assisted living facilities, senior housing options, and care services that meet their financial, geographic, aesthetic, clinical needs and preferences. These placement companies are typically paid by the assisted living facilities and bring no additional cost to the family.
The final concept for senior care franchising is Senior Fitness. Although this is a smaller niche, I foresee this as a growing sector of senior care franchising. According to the World Wide Survey of Fitness Trends of 2018 “fitness programs for older adults” is ranked #9 with “functional fitness” ranked #10 in overall fitness trends. Franchisors that focus on this sector offer turnkey models for home fitness trainers and private in studio fitness, designed specifically for seniors.
Each of these models can be very scalable and certainly offer ownership in a growing business sector that serves the public. To learn more about Senior Care franchises or other industries email email@example.com.