3 Reasons Why a Non-Medical Home Care Franchise Might Be Right for You

Are you an entrepreneur interested in owning a franchise business with high-profit margins and a low cost of entry? It might be time to take a closer look at the non-medical home industry.

Because concerns surrounding the COVID-19 pandemic are still very relevant, in-home senior care is becoming more critical for older adults who want to age comfortably in their own homes. 

With Baby Boomers approaching their 60s and 70s, a spike in the elderly population is inevitable. With that spike, so too is the demand for quality in-home care.

If you are looking to purchase a franchise and make a difference in your community, non-medical home care is an excellent industry to consider.

Here are three reasons why entrepreneurs are scrambling to jump on the senior care bandwagon.

For those who might be unaware, let’s first examine what non-medical home care is:

What is Non-Medical Home Care?

If given a choice, many seniors would prefer living at home where they are comfortable rather than uprooting their lives and moving to a residential assisted living facility. However, many of these same seniors cannot manage day-to-day tasks on their own. Unfortunately, many modern families cannot care for their senior loved ones because they live too far away or cannot make the time to help on a regular basis.

That’s where non-medical home care comes in – to help seniors age in their own homes while providing services like:

• Companionship
• Meal Prep
• Medication Reminders
• Food Shopping and Other Errands
• Transportation
• House Cleaning

Because our lives are busier than ever, compassionate non-medical home care services like those offered at Always Best Care are in high demand.

3 Reasons Why a Non-Medical Home Care Franchise Might Be Right for You

1. Recession  Resistant

No matter what curveballs life throws at us, people still need care. In-home care franchises like Always Best Care are leading the way in essential services that will always be in need, regardless of the economy.

Though many U.S citizens believe we are approaching or are currently in a recession, Franchise Business Review lists senior service businesses in the top six recession-proof industries. The U.S Census Bureau approximates there will be almost 58 million Baby Boomers by 2030 – a segment of the population that would prefer to receive reputable in-home care rather than move to an unfamiliar assisted living community.

By 2040, one in five Americans or about 20% of the population will be over the age of 65. And according to AARP, 9 out of 10 seniors want to be cared for at home. As you can see, the home care industry is poised for even more growth in the future, despite economic struggles that may happen over the next few decades.

2. Cost of Entry

Many franchise models (like those found in the foodservice industry) require a significant investment to get started. While becoming a senior care franchise owner does mean that you must invest your time and money to build your business, the cost of entry is often more affordable than other franchises.

The total investment required to start an Always Best Care Franchise ranges from approximately $74,000 to $125,000. This investment includes the base franchise fee. Compare that to franchises in the foodservice industry like McDonald’s, which according to Business Insider, typically cost franchisors between $1.2 million to $2.2 million. There is also a minimum of around $500k in liquid assets to open a franchise with McDonald’s. 

3. Making a Difference in the Community

Many non-medical franchise owners opt to invest in a senior care franchise because they have the chance to grow a lucrative business while also providing a valuable service to the community.

While the financial rewards of owning an in-home care franchise are plentiful, serving seniors in the community gives franchisees a feeling of real purpose by changing people’s lives for the better.

Non-medical franchise owners (particularly those that own an Always Best Care franchise) are much more than business owners – they are dedicated, compassionate individuals that help seniors maintain their dignity and comfort as they age. 

You can put a number on your ROI, but you cannot account for the satisfaction you will receive as a home care business owner until you have experienced it for yourself.

Ready to Get Started?

Are you interested in learning more about what it takes to be a senior care franchise owner during the aging-in-place boom? Always Best Care is here to help you navigate the industry as one of our franchise owners! Download our FREE franchising ebook today to learn more and refer to our most recent Franchise Disclosure Document for important details.