Senior Care Franchising Could one be right for you?
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By Lisa Welko
ou think about getting old, but when you get there, it’s not what you thought it would be.” That’s what the late comedian Jerry Lewis once said. Now in their 50s, 60s and 70s, the 76-million people born between 1946 and 1964—a.k.a. baby boomers—are currently dealing with the challenges of aging, as well as chronic conditions like diabetes, cancer, heart disease, and Alzheimer’s disease, according to the U.S. Department of Health and Human Services National Center for Health Statistics. Despite these challenges, according to AARP, 86-percent of the 50-plus population in the U.S. want to remain at home as they age. Thankfully, an increasing number of in-home-care service providers are helping to make this happen. They assist seniors with daily activities like cooking, cleaning, and daily errands, as well as medical needs.
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FranchiseDictionaryMagazine.com
The 2018 Senior Care Industry Analysis reports that home healthcare—including medical, non-medical, or a combination—is the primary franchising opportunity within the senior-care industry. And it doesn’t show any signs of slowing down. Population projections by the U.S. Census Bureau say millennials, those born between 1981 and 1996 are on the cusp of surpassing baby boomers as the nation’s largest living adult generation. According to market research firm IBISWorld, there are more than 60 senior-care franchise brands, and the firm predicts growth to continue to rise through at least 2022. Sold on a senior-care franchise? There are there three categories of inhome senior care to consider: medical, non-medical, and transitional. Here’s what you need to know about each one:
