While the health care debate has raged and raged this summer, one point that has been somewhat overlooked by all the talking heads is that there has been a subtle shift in the way Americans, especially aging baby boomers, receive health care.
Time Magazine is certainly aware of it. There is a story in this week’s edition about the rise and rise of health and senior health care franchises. We can only presume this is the beginning of a trend. Experts predict the global population of people above 65 to double to 15% by 2050. The story profiles Home Instead, but they could be speaking for any senior care franchise when they say:
“With seniors' numbers soaring, public care dollars shrinking and extended families geographically scattered, Home Instead is mining a virtually untapped and limitless market.”
What we’re seeing is the emergence of a range of social factors that are creating a greater need for senior care franchises. Families are divided and spread across the globe. Government dollars for public care are shrinking. A business that can provide immediate and constant care for senior citizens has a greater potential chance for huge growth than ever before.
And it’s not only in America where this franchise industry is growing. The story profiles the spread of health care franchises to Japan, who have the second biggest population of elderly people in the world. It’s a market primed for senior care franchising. Home Instead ranked #72 on the Top 100 Global Franchises (with Homewatch being the other senior care franchise on the list). This industry is a great franchise investment, certain to experience further growth in the coming year.