Senior Care and Healthcare Franchise Opportunities
Trends and Facts About Healthcare & Senior Care Franchises
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1. Franchises within this industry provide skilled medical and non-medical services such as companionship, therapy, running errands, grooming assistance, meal preparation and feeding, housekeeping and laundry, nursing intervention, and more.
2. From the U.S. Department of Labor: Employment of home health aides is expected to grow by 69 percent from 2010 to 2020, much faster than the average for all occupations. Employment of personal care aides is expected to grow by 70 percent from 2010 to 2020, also much faster than the average for all occupations.
3. According to Kalorama Information, home care is expected to account for revenues of $112.6 billion by 2015 and 32 percent of all long term care industry revenues.
4. The baby boom generation (77 million births between 1946 and 1964) is driving the growth behind another “booming” industry – healthcare, specifically home health care for seniors.
5. About 10,000 people turn 65 daily, and this trend is expected to last for nearly 20 years. The number of seniors in the U.S. is projected to increase to approximately 87 million people by 2050.
6. A survey by the American Association of Retired Persons (AARP) indicates that 84 percent of Americans want to stay in their present homes as they age, while other sources have said that percentage may be up to 90.
7. Franchises in this industry don’t only service seniors. Many also cater to people of any age that need assistance due to illness or injury. Some even offer assistance to new mothers settling in after childbirth.