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The care of older family members is an important part of family cooperation. When a parent can no longer safely be alone, adult children coordinate caregivers, assisted living facilities, and other aspects of the care dedicated to their aging parent.
When the novel coronavirus arrived, governments locked down senior care facilities under severe restrictions with all family members forbidden to visit. For seniors, it was isolating and confusing. For their family members, it was distressing and frustrating. Many families were led to wonder if there's a better way, creating even more opportunity for home care franchises—an area that was already experiencing substantial growth.
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Preferred Style of Care
An ill person will need doctors and nurses, but most older people don’t need skilled nursing facilities for long periods. Instead, most want to stay in their homes and get a little help with daily activities like cooking and laundry as they become a bit feebler. A home-health care provider fills a gap between medical facilities and being at home alone. Even without coronavirus concerns, a home health caregiver would be preferable to a medical or convalescent facility. Elders who do not need medical care get the added benefits of companionships and the comfort of staying at home in their familiar environment for a lower cost.
Solid Business Revenue Opportunity
The novel coronavirus is also having a deep impact on the labor force. Some industries, like restaurants and gyms, have not been able to hire workers back, yet. If you are one of the 25% who has had long-term income reductions, you want something that promises stability and growth. The senior care market is worth a serious review as a recession-proof industry whose the future client base is growing exponentially.
Why a Franchise Model?
When you buy a franchise, you become part of a bigger and more experienced team. Franchisors need every franchisee to be successful, so you will receive assistance in the form of training, ongoing support and, sometimes, financing too. As a business owner, you build on a pre-existing brand, marketing plan and mode of operation. The franchise's model is already proven, so your efforts and money aren't going towards a shot in the dark.
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We're all getting older, and our demographics are showing it. The number of people over 65 will double by in the next 30 years, with many in the 85+ age demographic. This group is more likely to need care and assistance. Naturally, not everyone will remain completely independent and healthy. This is where senior care franchises find their niche.
And despite the pandemic’s many negatives, it's accelerating the growth opportunities within the home health care sector to assist elderly clients and their families while building a successful business.
Anne Daniells is a co-owner of Enterprising Solutions, a professional services firm specializing in corporate communication and financial improvement for businesses where she shares decades of corporate and entrepreneurial experience—including franchise ownership—in her writings on business culture. She has authored hundreds of articles for publications including AllBusiness.com, TweakYourBiz.com, and MSN.com. Reach out via her website for more on where corporate culture, communication, and human architecture collide.