There are many reasons to go into business for yourself — you have more control over the progression of your career, more time to spend with family, and, of course, a greater earning potential. What’s great about starting your own business through a franchise program is that there are a number of businesses you can buy that offer all the same benefits of self-employment.
One of those businesses is an in-home care franchise. The marketplace for in-home care and senior care is heating up, and for good reason. As people analyze the future of the industry and identify the nuts-and-bolt of what makes a great senior care franchise tick, the more attractive the business prospect looks. Check out these 6 compelling reasons to buy a senior home care franchise.
1. High market demand for senior in-home care
There is unquestionable anticipation for what many expect to be a massive increase in home care needs. The United States is expected to see a massive influx of seniors by 2060, when their numbers will more than double to about 98 million seniors, accounting for more than one-fifth of the nation’s population. The increase in the senior population is prompting senior care businesses and organization to beef up their ranks. According to the Bureau of Labor Statistics, the homecare field will add 1.3 million jobs by 2020, with personal care aide positions seeing a 70% growth. This compares with just a 14% average growth rate in other job fields.
2. Offer meaningful services through a home care franchise
If you’re someone who likes to connect with others and make a difference in people’s lives, few businesses compare to the satisfaction you’ll gain from owning your own senior home care business. When you know you’re instrumental in keeping people safe and healthy, and putting a smile on their face, you’ll get a certain amount of satisfaction that can’t be found at just any job.
3. Employ caregivers, good people who need jobs
Most franchise businesses require that you hire staff to help you execute services. When you own a senior home care franchise, you employ caregivers who assist your clients. These are often selfless folks who have a passion for helping others. You can give them an opportunity to do just that, while also paying them a fair wage. We take great care in hiring our caregivers, and we appreciate being able to employ such caring individuals.
4. A senior care franchise requires a low investment
With very little infrastructure requirements and zero inventory, the investment for an in-home care franchise is substantially lower than other franchise opportunities. The initial investment for a Sunny Days In-Home Care franchise is between $70,970 and $119,150 for single unit start-up operators. For those who want to convert their existing business to a Sunny Days senior care franchise, the initial investment is between $47,670 and $78,200. We offer a rebate for marketing costs and also a discount for qualified veterans of the U.S. Armed Forces.
5. An in-home care franchise requires simple operations
The basics of operating a senior care franchise are quite straightforward. We find complexity in certain parts of the payment and reimbursement systems, but the crux of what we do lies in our care services. We get a request for care; we find a caregiver who meets the client’s needs; then we set up a calendar of care. Compared to some franchise businesses, our operation is simple.
6. You’ll find the work engaging and challenging
Though our basic service functions are fairly simple, each case we address is unique, which makes our work constantly engaging. You’ll solve problems, help people avoid emergencies and always be kept on your toes.
Find out more about our senior home care franchise opportunity, and contact us for more information about why this business makes sense for your future.