The COVID-19 pandemic has challenged communities across the nation. Amid an unprecedented crisis, some businesses, hospitals, restaurants, fitness centres, restaurants, movie theatres and the entire entertainment industry are in dire straits.
But the pandemic has also been testing our ability to care for the people in need by highlighting the importance of senior care and the nursing industry as a whole. The demand for in-home senior care has grown substantially, and the pandemic has shed light upon the urgent need to provide care for the elderly.
The considerable underinvestment in senior care has now been exposed due to an unprecedented pandemic. The response to the pandemic has primarily been reactive, with most healthcare providers struggling to adapt to the situation.
As a result, the crisis has shaped a new approach to senior care and medical facilities, both from an operational and philosophical perspective. More immediately, skilled nursing, assisted living, and other senior care facilities need financial backup and investment to thrive in the long-term, and the idea of a home senior care franchising business is an attractive option, to say the least.
Franchising Opportunities in Senior Health Care
With many industries struggling to be a particularly good investment during the pandemic, a lot of prospective entrepreneurs are looking for business opportunities that are recession-proof or have increased demand due to the pandemic.
One of these lucrative investments is the home senior care franchising industry that is huge and rapidly growing. It provides healthcare services through franchised establishments, including skilled nursing care, companion services, physical therapy, and medical social services. By 2019, the number of adults older than 65 has grown to 55.0 million people, resulting in an $11 Billion Dollar market.
With people living longer due to advancements in medicine and technology, many seniors are wanting to stay in their own homes and enjoy independence for as long as possible. Franchises that provide skilled, medical and non-medical in-home services help seniors to do just that.
Home Senior Care businesses are committed to providing safety during these challenging times. With a nationwide network of private senior care services, they provide comprehensive home-healthcare solutions.
There are numerous homecare franchises that are also working towards creating a community of care and companionship to fight lockdown blues. For those wanting to live in a senior centre, there are also senior placement franchises in the U.S. that help individuals find a senior centre that provides assisted living or full care living that best fit their needs.
Senior Care Franchise Ownership: A Lucrative Career Option
Though it may sound counterintuitive, the pandemic has given many an opportunity to consider franchise ownership as one of the more sustainable career options. This is an excellent opportunity for aspiring entrepreneurs to invest in a proven business model because franchise establishments have already spent the money, done the hard work and developed a business model that is not only profitable, but repeatable.
The trajectory for the senior care franchising industry is expected to grow in 2020 and beyond, due to an increased demand to care for the immunocompromised and elderly in domestic settings to avoid exposure risk to COVID-19. Franchise organizations possess the infrastructure and operational backing to ensure consistent business operations. By assisting with franchise planning, pre-launch support, training, marketing, and operations, franchise ownership presents itself as a wise career option to guarantee individual success and give back to the community.
About the Author
Bill McKee has been a business owner since 1993 and built several successful businesses. He has a fascination for understanding different business models and really enjoys helping people. For those reasons, he has been a franchise consultant since 2007 and has helped well over a hundred people to be awarded franchises. If you are interested to see what is available in your area, contact Bill at (972) 767-8433 or Bill@TheFranchiseConsultingCompany.com.