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Franchise Opportunities

California's elderly population is projected to grow twice as quickly as the rest of the state's population. As the average life expectancy continues to increase, today's older Americans, primarily 65 years and older, enjoy better health and financial security than any previous generation. This is an ideal opportunity for those interested in the business of providing in-home care services.


Demand for Services on the Rise

Over 81 percent of senior citizens own their own homes, while only 68 percent of the remaining population are homeowners. Seniors, more often than not, live either with their spouse or alone, instead of with extended family, leaving them with little to no family to take care of them when the need arises.

The aging baby boomer generation is well educated, financially successful, and independent, and certainly isn't ready or willing to move into an "old folks' home." However, even though your parents or grandparents own their own home and are independent now, it doesn't mean there might not be a bump in the road, a prolonged illness, recovery from surgery, or the need for in-home care in the future.

Now options for seniors exist that didn't in the not so distance past such as lifestyle communities, retirement villages, assisted living communities, and skilled nursing centers, not to mention one of the fastest growing segments—senior home care. Considering that 70% of all the disposable income in the United States is controlled by our aging population, large corporations and savvy entrepreneurs recognize this as a tremendous business opportunity.

Senior and Family

A decade ago, Entrepreneur.com reported that over 340 in-home senior care franchise units were sold in 2006 and by January 2007, in-home senior care was highlighted as one of the five major trends to watch. Now with $2 trillion in spending power, the aging population can afford quality in-home senior care. This particular level of service is predicted to be one of the largest start-up business trends well into the next decade. Large corporations and smart entrepreneurs recognize the growing senior population as an opportunity, especially when you consider that 70% of all the disposable income in the United States is controlled by our aging population. Just look at the options for seniors today that didn't exist in the not so distance past: lifestyle communities, retirement villages, assisted living communities, and skilled nursing centers, not to mention one of the fastest growing segments—senior home care.


Will You Become Senior Care Providers?

Author and journalist, Sarah Wilson, has identified in-home senior care franchise buyers as, "Corporate refugees, downsized, laid off, or fed up. These are hungry, second career executives who need or want to serve a bigger purpose."With 1,000 people turning 65 hourly, there is no doubt that senior citizens represent a vast market, one with very little competition or rivalry among providers due to its sheer size. In fact, the providers that are currently in business are actually helping each other by fueling awareness for senior care options.

That bigger purpose has arrived in the form of 1,000 people turning 65 every hour, many of whom either need or will soon need some form of in-home care. The sheer number of senior citizens represents a vast market. What's more, because the market is so huge, there's very little competition among competitors. Rather than taking business away from one another, competitors are actually helping one another by spreading awareness of available senior care options.

The in-home care field is wide open, and now is the time to cater a new business venture toward the senior population. A well-planned senior home care business has several advantages including recurring revenue and an easy threshold for starting up, as well as being recession-proof. Beyond those financial advantages comes the deep satisfaction for both franchise owners and service providers, knowing you are making a world of difference for clients and their families.

A Bright Future

While there are no guarantees in business, the outlook is extremely good for the in-home care industry. According to USA Today™, home health care is among the top five most profitable franchise opportunities in the U.S. The publication goes on to state that the "potential return on investment is significantly higher than many other franchise businesses." If you're considering investing in a franchise, in-home care could be right for you.