STARTING A HOME HEALTHCARE FRANCHISE IS EASIER THAN YOU THINK!
Over the past few decades, franchised businesses have become a part of almost all consumers’ daily lives, from house cleaning to power washing – even dog walking. So if you’re currently considering getting started with a franchised business, deciding on the right one to choose can be overwhelming. Naturally, the biggest, and most immediate, question to answer is “What kind of franchise do I want to be a part of?”. A home healthcare franchise has some of the best ROI for a new business.
One of the most popular and quickly growing franchise opportunities is in home care services. The number of companies in this field has quintupled over the last fifteen years, and shows no sign of slowing, even growing into international markets. The aging Baby Boomer population is finding that they need additional aid in living, but don’t want to disrupt their active lives by having to leave their homes or seek ongoing hospital care. Here are some reasons why a home healthcare franchise is one of the best options for the first-time franchisee.
LOW INVESTMENT AND HIGH REVENUE
Forbes Magazine recently listed four different home health care franchises in their top ten 2016 “Best Franchises to Own Under $150,000”. Because home care has low costs to start and maintain it tends to have a high return on investment.
As USA Today reports, several factors make investing in a home health care franchise particularly lucrative:
- Startup costs are low, only requiring office space, standard initial costs and staffing
- Home care means not having to maintain an inventory of stock and other daily operating costs common to other franchises
- Ongoing business contracts and a regular client base ensure regular revenue
- Regular training and support from the home office keeps franchisees current on maintaining a viable, competitive business
- A new franchise can be up and running within 10 weeks, limiting starting costs
- Large, exclusive territories lead to greater referrals from community members and organizations
GROWING DEMAND FOR A LONG-TERM BUSINESS
The UN estimates that the worldwide population of people over 60 is set to triple by 2050. The youngest Baby Boomers are in their early fifties, and the older ones have already retired. Generally speaking, this is a segment of the population who are more active and affluent than the generations before them and many will need the assistance home services can bring.
HOME HEALTHCARE FRANCHISES ARE A FORCE FOR GOOD
Many Franchisees who choose this field do so because of the impact they have on their community. Assisting others is one of the most satisfying things you can do with your time and money, and providing services that make other people’s lives better on a daily basis is tremendously rewarding. Helping people stay in their homes isn’t just a business – it’s a community service.
A GREAT MATCH FOR THE MOTIVATED ENTREPRENEUR
While extensive home healthcare experience is not a requirement, certain personalities are suited for the challenges and opportunities a franchise experience in this field.
ONGOING RELATIONSHIPS AND REPEAT BUSINESS
Our client relationships at Caring for People Services don’t just last for one day. Clients hire us to assist with a family needs on an ongoing basis. These cases may only last a few weeks, but can go on for many years. Many owners develop personal relationships with their clients that can extend for a long time. Each client represents a recurring revenue stream and a living testament to the excellent service and support provided.