Senior Care Franchisees Wanted

by FBR

Franchise Business Review recently released a special report on the booming home care franchising industry, and president and CEO Eric Stites hosted a webinar to walk listeners through the report. Here are some of the key findings:

Senior care demands keep growing despite the economy. The demand for home care services for seniors has grown rapidly over the past few years—despite what’s gone on in the economy. Arizona-based Synergy HomeCare doubled its franchisee units in 2009, and the company says the home care industry is “poised for exponential growth,” due to the increasing number of aging baby boomers.

In-home care means more in-pocket. In-home care companies—not nursing homes—have generally fared better than other franchise concepts because of the low startup costs and overhead. Most of these businesses provide non-medical daily care, but a few, like BrightStar, offer medical care, too.

Franchisees wanted, people skills a must. Although a senior care franchise, once established, offers franchisees scheduling flexibility and a strong community bond, there’s a considerable amount of people management necessary to ensure success and to navigate the many rules and regulations that affect the senior care space. Successful franchisees tend to have past operations and management experience, or they must gain these skills pretty quickly.

It pays to diversify. Most of the companies in FBR’s senior care report offer medical staffing services in addition to at-home care. Others have expanded further, offering non-senior care to new moms, post-surgery patients, and others in need.

The global need for home health (and franchisees) is growing fast. Many of the biggest companies in the senior care space are expanding their franchise offices worldwide. Omaha-based Home Instead, for example, has 567 franchise units in the U.S. and more than 900 offices around the world.

For more information or to listen to Franchise Business Review’s senior care webinar for free, visit us online at www.franchisebusinessreview.com.

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