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If you’ve been looking into franchises to buy, you’re well aware of the fact that there are a lot of senior services franchises being offered nowadays. But don't let that scare you away, or intimidate you.
In this post, I’m going to share some information on the senior services sector of franchising, and why it behooves you to include it in your preliminary search for a franchise to own (even if there are a lot of them).
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Where You Get Your Information From Matters
A lot of people gloss over franchise opportunities in the senior services sector because they make assumptions. Don’t do that!
Instead (and this goes for any sector of franchising), you need to get your information from people who are either in the business you’re attempting to learn about, or who know franchising.
With that in mind, I’d like to share a question I get asked a lot: “Do I need a background in medicine or experience working with seniors to qualify for and/or be a successful senior services franchisee?”
The answer: Absolutely not.
Would it be helpful? Possibly.
For example, people who’ve worked in the medical field and are looking at senior care franchises focusing on in-home medical care may be able to leverage their connections to help them grow their business. If so, that could help them ramp things up faster. But since franchisees aren’t the ones directly working with patients daily in most cases, actual medical knowledge isn’t necessary.
Another example would be someone who has worked closely with seniors in any capacity-and who would bring a serious sense of empathy to their business. That would be a definite advantage. But it’s not necessary for franchisees to have hand-on experience working with seniors. It’s just a value-add. You can have empathy coming from any other background as well.
Notwithstanding of the above, the most important thing you need to bring to the table as a franchisee in this sector of franchising is your business acumen. Specifically, your proven ability to grow and run a business operation.
Why Are There So Many Senior Services Businesses?
I started off mentioning the fact that there are lots of franchises in this sector. Why do you think that is? Demand.
Make that a growing demand for the types of services you can provide as the owner of a senior services franchise business.
Check out this data from The Administration For Community Living:
<blockquote> “In 2019, there were 54.1 million people aged 65 and older (up from 39.6 million in 2020). The population is projected to reach 80.8 million by 2040 and 94.7 million by 2060. All but a tiny percentage of them live in non-institutional settings, as do more than 61 million people with disabilities. Both populations are growing, and older Americans are one of the fastest-growing demographics in the country.”</blockquote>
That’s why there are so many businesses that provide services to seniors. The numbers don’t lie. You just need to decide what type of senior services franchise to own.
Types of Senior Services Franchise Opportunities
Although most people think of senior care when they’re looking at senior services franchises-and rightly so, there are several other types of franchise businesses that serve the senior population. Like these:
Physical Therapy
Franchise businesses in this niche provide therapy services, balance training, and fall prevention guidance for our aging population.
Mobility
Mobility businesses provide custom products that serve seniors in need of safety bars, stair lifts, wheelchair ramps, scooters and more.
Wellness
Today’s seniors want to look and feel their best. That’s where franchisees who own wellness franchises come in.
Examples in this space include massage clinics, spas, and skincare studios.
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As you can see, there are several ways for you to serve the growing senior market.
Furthermore, I expect our country’s brilliant entrepreneurs to continue coming up with new, innovative franchise concepts focused on the senior market.
Do you want in? Start searching the senior care listings today!
The Franchise King®, Joel Libava, is a top franchise expert. He’s written over 2,000 different articles on franchise ownership and personally consults with people who are looking to buy a profitable franchise. Go here to find out how The Franchise King® can help you become your own boss.