5 Senior Services Franchise Ideas
It’s no secret that the U.S. population is aging – and quickly. Over the next four decades, the population of Americans aged 65 and older is expected to more than double, reaching 80 million by 2040, according to Urban Institute. Additionally, the number of adults aged 85 and older is projected to nearly quadruple by the end of the forecast period.
With a rapidly growing senior population, the demand for senior-focused services is only increasing. Savvy and compassionate entrepreneurs can make their mark in this growing industry by investing in a senior services franchise. Learn more about the various franchise options, what they provide, and why a business in the elderly care sector could be a good investment.
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What Are Senior Services?
Senior services include specific programs and support systems designed to enhance the quality of life for elderly people. The primary purpose of senior services is to provide the necessary assistance and care so older adults can live comfortably and safely, whether they’re living independently, in a community setting, or in a specialized care facility.
Senior services can be broken into two main groups: medical and non-medical. Medical services may include medication management, routine check-ups, physical or occupational therapy, and any other services provided by a doctor, nurse, or specialist. However, many seniors need non-medical services such as transportation to appointments, companionship, meal preparation, light housekeeping, and personal hygiene.
Senior Services Business Ideas to Consider
As you research different senior services franchise opportunities, you’ll likely come across the following business types:
- Assisted living facilities: These types of franchises encourage independence among residents. Typically, the staff in assisted living facilities helps residents with daily living activities such as grooming and dressing. Staff may also help with medication reminders, cooking, and cleaning.
- Nursing homes: Contrary to popular belief, nursing homes and assisted living facilities are not the same. Nursing homes assist with more complex and demanding medical conditions. Residents are monitored 24/7, and their care is handled by highly-skilled medical professionals.
- Home health care agencies: While most seniors will eventually need aid for their chronic conditions, there is the option of remaining at home. Home health care agencies hire licensed professionals to provide medical services in clients’ homes.
- Home care providers: Unlike home health care agencies, home care providers focus on non-medical services. Trusted caregivers will provide seniors with engaging conversation, assistance with daily living activities, pet and plant care, medication reminders, and meal preparation.
- Senior placement and referral services: Instead of owning an assisted living facility or nursing home, you could help families find the best place for their elderly loved one based on their specific needs.
The above businesses that cater to the elderly offer a lot of opportunity regardless of your experience, skillset, and budget. There is a spectrum of options available, from higher-cost assisted living facilities and nursing homes to more budget-friendly home-based care franchises.
This diversity means that even if you have a smaller budget, you can still make a significant impact and contribute to the growing need for senior services. Reputable franchisors will provide comprehensive training and ongoing support to their franchisees. Plus, with a franchise, you’ll be given estimated investment costs upfront, eliminating any surprise expenses later.
Franchise with Always Best Care
If you’re looking for an opportunity that encompasses many of the above senior services, look no further than Always Best Care. Our franchisees provide multiple types of care, including in-home care, skilled home health care, special care, respite care, dementia care, and senior living referral services. Offering so many different services allows us to become a trusted partner to our senior clients and their loved ones. Franchisees are able to see their clients through multiple life stages with our Continuum of Care.
We offer an affordable franchise opportunity with startup costs ranging between $89,750 and $145,900, including our franchise fee of $49,900. And with multiple streams of revenue, franchisees have the potential to fully capitalize on their investment.
To learn more about franchising with Always Best Care, request information today, and one of our representatives will be in touch.
