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As the U.S. population ages, more and more residents find themselves in need of quality home care, and that’s helped the caring business grow into an industry with energy and direction. Looking into home-caring franchise opportunities can be a savvy business decision for future owners, and getting started can be easier than you think!
With our assistance, you’ll be prepared to take your first steps and join an exciting industry geared for growth.
The caring business has seen significant development and evolution over the past few decades. During that time, the industry has transformed from a “one-size-fits-all” model that often required quality-of-life sacrifices into a modern healthcare business tailored to each person’s needs.
Not long ago, clients in need of assistance with daily tasks had few options. If they had wealth or a relative willing to devote themselves to helping them, they could live at home, but many people found themselves having to settle for life in a nursing home or other facility.
Today, clients have a wide range of options to choose from. Assisted care has expanded and can now provide everything from simple weekly check-ins to round-the-clock in-home services, all covered by health insurance, allowing people to deal with illness or age in place in familiar surroundings and with loved ones around them.
Each client has their particular requirements and preferences on how to live with dignity and purpose. Modern assisted living care is built to help them find the type and level of support that works best for them.
This expanding marketplace has helped give the industry the tools for development. U.S. care providers serve a market of more than $136 billion, with a 3.6% growth rate over the past year alone.
That can make the caring business a perfect fit for growth-minded future owners who want to make a real difference in their community and provide essential daily assistance to an expanding pool of potential clients. It can be a fulfilling and compassionate service ideally suited for the times.
As with all businesses, it’s vital to get a clear picture of the challenges and concerns an assisted care brand can expect to encounter. It’s especially critical to find and retain reliable, qualified staff — they’re on the front lines of care and are the most important aspect of the business.
And owners can plan to devote much of their time to compliance, regulations, and paperwork to meet local, state, and federal guidelines. Assisted care is a people business, and it places staff in positions of trust that require strict oversight.
With so many options available for care clients today, it’s more important than ever to find the franchise that’s best designed for growth today and tomorrow. Prospective owners should look for a few key features to guide their search and connect them with the brand that’s right for them.
To begin with, keep an eye out for simplicity of operations. Find a franchise that understands that simpler processes and a clear, easy-to-understand business model are often the best choices, especially when working in an industry that supports clients through difficult times.
The modern world is increasingly interconnected, and the healthcare and home care systems are no exception. Seek out a care brand that recognizes this and makes networked facilities and services part of its approach.
Make sure the business focuses on flexibility, too. Personalized care is critical to brand development, and it places a franchise in step with the preferences and needs of its clientele, who want and expect custom solutions.
To take the first steps on the path to care franchise ownership, a future owner should first take a big-picture look at the business. Find the brands that reflect your own interests, and then dig into their specifics to learn more about their financials, franchise obligations, and more.
After finding the franchise that appeals to them, the potential owner meets with the brand leadership to get to know each other and find out how well they might work together. The franchise provides guidance to help the new owner through startup, opening, and beyond.
Entry costs for the assisted care industry can vary significantly depending on a variety of factors, from type of business to scope to location.
Future owners can expect to invest $75,000 to $150,000 or more to open a care business. That’s a relatively low investment requirement for entry into an industry geared for expansion.
Assisted living is big business today, and Assisted Living Locators is positioned to guide the industry as it expands.
We help clients find the right living situation for their needs and keep the burden of cost off their shoulders. Our growing network of providers and facilities aids us in our mission and helps ensure that every person we serve gets quality care.
Assisted Living Locators is on the move into new territories, and we’re looking for potential franchise owners to join us.
Want more details? Contact us today!
Angela Olea is a visionary and accomplished business leader in the senior care industry. She is a respected authority on franchising, elder care and senior placement, serving as a guest speaker at state and national aging conferences. In 2019, Angela received the honor of Top 50 Most Influential Women's in Arizona and the Visionary Award from Az Business Magazine.
