As America’s baby boomers continue to age, the nation’s senior home care industry is evolving into a dynamic franchise sector providing peerless, compassionate care to both to elderly and those requiring constant medical assistance. That’s the finding of a new senior care franchises industry report by Franchise Direc America’s leading franchise portal.
As the Franchise Direct report explains, the evolution of senior home care, especially in recent years, is built on a simple premise: people would prefer to spend their golden years in the comfort of their own house as opposed to a staid nursing home. Senior care businesses in America have been in existence since the early nineteenth century, and the industry has grown steadily throughout the last few decades. Like so many other aspects of American business life, senior care franchises were easily franchised in the last 30 years, as brands offering a clear vision for better home care.
The home care industry, as it currently stands, is a fragmented industry that’s experienced 5% growth over recent years. It creates over $70 billion in revenue each year. The likes of Visiting Angels, Senior Helpers, Comfort Keepers, Home Helpers, BrightStar, CareMinders, Home Instead, and Interim Healthcare all provide individual spins on the concept of home care and have helped turned home care into a national movement.
Of course, the recent success of home care is underwritten by the altering age demographic of America. To put it simply, there are more older Americans than ever before and that number is only going to increase in coming years. Nearly 10,000 people turn 65 every day, and this trend is expected to last for nearly 20 years. In conjunction with this trend is a predicted 69% increase in home care assistants from 2010-2020.
The success of this industry basically comes down to one word: dignity. The report quotes Frances Zaglan, CareMinders Home Care client. “I feel very comfortable, and the most important thing is that at my age of 85 I am allowed to live in my own home with my husband,” she says. Aging is a difficult process, but these franchises make it easier.