An elder care franchise provides services similar to home health or senior care. Learn more about elder care business opportunities and the benefits for owners and clients.
How is Elder Care Different?
Elder care may seem very similar to home health or senior care, but there are a few differences in terms of the specific services offered. Typically, elder care franchises specialize in providing non-medical or personal care services to seniors who require assistance with daily activities but do not necessarily need medical attention. These services may include help with bathing, grooming, meal preparation, medication reminders, companionship, and transportation. The primary goal of elder care is to support the overall well-being and quality of life of the elderly.
Home health franchises differ because they focus on providing medical and healthcare services to those who have specific medical needs. These individuals may be seniors, but also may include younger individuals with disabilities. Home health services are usually delivered by trained medical professionals including nurses, therapists, or home health aides. Home health franchises may offer services such as wound care, medication management, physical therapy, skilled nursing, and other medical treatments.
Senior care franchises fall right in between elder care and home health franchises. These types of businesses provide both elderly care and home health services. A great example of a senior care franchise is Always Best Care. We offer three types of services: in-home care, assisted living referral, and skilled home health care – allowing us to help with medical and non-medical needs.
Why Consider Elder Care Franchise Opportunities?
For the first time in U.S. history, the number of individuals over the age of 65 outnumber children under the age of five. Baby boomers started turning 65 in 2011 – with the oldest of the generation well into their 70’s now. It’s expected that the number of senior citizens will be larger than the number of Americans 18 years and younger by 2035.
With the senior population growing at such a rapid rate, the need for elder care services is expected to increase. In fact, according to Forbes, senior care is already in demand. More than 67 million seniors 60 and older currently need – or will soon need – care. Estimates state that about 15 million seniors will require long-term care by 2050.
All of this to say, the senior care market is growing. By 2028, the market is projected to reach a value of $2,366.4 billion, with a compound annual growth rate (CAGR) of 6.8% worldwide. Compassionate entrepreneurs wanting to make a positive impact in their communities can benefit greatly from the expanding market – and partnering with the right franchise brand.
Franchise with Always Best Care
Always Best Care, a reputable senior care franchise, got its start in 1996 and began franchising in 2006. Recognized as one of the industry’s most trusted senior care brands, we’ve expanded to over 200 locations throughout the U.S. We have plenty of available territory across the country and are offering franchise agreements in Canada.
By offering in-home care, assisted living referral, and skilled home health care services, our franchisees have the opportunity to capitalize on their investment with three separate revenue streams. Plus, our initial investment costs are affordable, ranging between $74,725 and $125,400, which includes our
$49,900 franchise fee. All franchise candidates should have a net worth of $200,000 and $100,000 in liquid assets to be considered for our opportunity.
As a thank you for their service, we offer a 5% discount on our franchise fee for qualified veteran franchisees who have bravely served our country.