senior care franchises - Senior Home Care Franchise

Looking Ahead – Four Tips for Franchise Success in 2016

Whether you’re an existing senior care franchise owner, or you are interested in starting your own in home care business in 2016, taking a look at some of the fundamentals of franchising is a wonderful idea. With that in mind, we’ve come up with four tips that will get you ready to take on all of the challenges that the new year has in store.

Set SMART Goals

Setting goals is crucial to your success, but it’s important to set SMART (Specific, Measurable, Achievable, Relevant and Timely) goals so you can make the biggest, most positive impact.

Here’s an example: Increasing your revenue by 20% in the period between January 1st and July 1st is a realistic SMART goal for your business because it identifies specific, measurable numbers within a specific timeframe; plus, it’s relevant to your business and it’s likely achievable.

An example of a non SMART goal would be something like, “I want to make more money.” While this is not the worst goal, it’s far from specific, and it offers nothing to focus on.

When evaluating your goals for 2016, be sure to analyze them using the SMART framework, and you’ll be much more likely to achieve the results you want!

Renew Your Commitment to Modern Marketing

Our industry is growing constantly, and 2016 promises to be a fantastic year. However, with this growth comes greater competition. You need to take advantage of every competitive edge you can find, and there’s no better way to set yourself apart than to become a master of marketing.

Obviously, your franchisor will supply you with excellent tools and techniques for marketing, but your success will largely depend upon how well you take the initiative to market your business locally. These days, business owners who take a proactive approach to modern marketing (blogging regularly, using social media wisely, building and maintaining email lists, practicing proper local SEO, etc.) are the ones who succeed.

Review the Tools and Technologies Available from Your Franchisor

One of the huge advantages you get to experience as a franchisee is access to your franchisor’s toolbox. You get to use tools and technologies that other business owners can only dream about, so it’s critical that you take advantage of them! As a franchisee with Always Best Care, you can access valuable marketing strategies, as well as professional consumer education materials.

Make it a point to take advantage of all the help you have available from your franchisor, and 2016 will be a very productive year for your business!

Review Your Individual Skillset

Franchising is all about following a proven system for success, but that doesn’t mean you have to put your own personal attributes and business skills on the back burner. In fact, it’s your unique abilities and talents that make you such a valuable part of your franchisor’s team. The most successful franchisees know that following the system is crucial, but they also understand that a little creativity within the system – and especially within their local markets – is the secret sauce that sets them apart from the competition.

What are your specific skills and attributes as a businessperson? How do they match with your franchise’s system? If you can match your skills to your business effectively, you’re going to experience a healthy 2016!

Want to learn more about franchising in the senior care industry? download our FREE franchising ebook today!

Please refer to our most recent Franchise Disclosure Document for important details.

Forbes: Senior Care Industry Top Ranked as Best Franchise Opportunity in 2014

Over the last 60 years, the landscape of the franchise world has grown and evolved to an incredible degree. From franchise organizations offering pressure-washing and lawn care to those offering tax return preparation and even dog walking, it’s safe to say that if you have a need, there’s a franchise nearby that can provide that service for you.

Of all the different franchise models, one in particular is growing at an exponential rate: the senior care franchise industry. There were only 13 home care franchise brands in the year 2000, and that number has grown to 56 in-home care companies in 2014 according to industry research firm FRANdata.

Entrepreneurial men and woman that own home care franchises are more successful than ever before, and especially so for those who own an Always Best Care franchise. Revenue for ABC franchise owners jumped from $9,557,240 in 2010 to $66,010,543 in 2013 (Source: 2009-2014 Franchise Disclosure Documents).

Because in-home care franchises like Always Best Care have a low overhead model, generate potentially high revenues, and provide services to a rapidly growing demographic, the home care franchise industry is a very popular one. Always Best Care, in particular, offers franchise owners the benefit of a powerful combination of corporate training and field representatives who are invested in franchise owner success, as well as award-winning marketing solutions to grow their business.

If you’re ready to make a difference in your community, download our FREE franchising eBook to learn why our training, marketing, and support have grown our franchisee revenue so dramatically.

Please refer to our most recent Franchise Disclosure Document for important details.

Opportunity Knocks With Senior Care Businesses

Starting a small business is an exciting venture; it allows entrepreneurs to seize control of their own career and financial future. But with that control comes responsibility and risk, and entrepreneurs need to make the right steps early in the game to succeed.

One of the most important steps new business owners will make is choosing an industry or service area to focus their business. Senior care is a rapidly growing area with many opportunities for entrepreneurship.

Challenges Ahead

Starting a small business in the current economic climate may seem daunting to many entrepreneurs. According to a 2013 U.S. Chamber of Commerce survey, one of the greatest concerns for small business entrepreneurs is the strength of the economy and the amount of state and federal regulation they are subject to.

There are bright spots ahead for small business, however. Most indicators show that the economy is slowly recovering from the Great Recession. Interest rates remain low, giving entrepreneurs with good credit great opportunities to secure financing at bargain rates. The labor market has plenty of people seeking work, putting employers in an enviable position.

Demographics & Opportunity

Senior care offers an incredible opportunity to new entrepreneurs because of the rising demand for this service. According to the U.S. Census Bureau, the nation’s population of adults over the age of 65 is expected to double over the next 40 years. Aging Baby Boomers—a large demographic—as well as increased longevity for seniors, are the key factors behind this population growth. Increased longevity is very important to the increase in demand for senior care services, as the older we get the more help and support we need for medical and basic living tasks.

As the population of older Americans increases, the need for quality care will increase. This includes more than medical care; it includes services like help with daily tasks, such as dressing, cooking, cleaning, and other home skills. While many believe most seniors use residential care, the majority of seniors would rather stay at home.

Home health care offers the following benefits for seniors:

Allows seniors to stay in the familiar comfort of their own homes.
Increases sense of independence.
Seniors who stay in their homes feel more in control of their lives than those in residential care.

Cost will be a key factor in driving the growth of home health care over the next few decades. The huge growth in the elderly population will put tremendous strains on government, private insurance, and individual family budgets to provide elderly care. By keeping seniors fit to stay in their homes, tremendous savings can be realized.

Starting a Senior Business

For those starting a senior business, the future looks promising. To move forward, there are several routes entrepreneurs can take to start a senior care business, including:

Medical care businesses – These companies are typically run by licensed nurses or other medical professionals to provide basic in-home medical care to seniors, such as administering medication and medical devices, health monitoring, and other related tasks.
Social care – These companies focus on the social needs of seniors, providing opportunities for them to interact with their peers through outings and events.
Home care – These businesses provide homeworkers to help seniors with tasks such as cooking, cleaning, bathing, etc. Home care workers also provide needed companionship and can administer some medication.
Transportation – Senior transportation businesses cater to the unique transportation needs of seniors, providing a safe and reliable means of getting to doctor’s appointments, shopping centers, etc.

When starting a senior care franchise, entrepreneurs should carefully research the types of senior care businesses they can start and launch one that best fits their skill sets. New senior care entrepreneurs should consider working with a franchise company, as these companies can provide them with valuable resources to help make their business a success.

Finding financing is also critical to small business start-up success. There are a variety of federal and state government programs that can help small businesses get off the ground. State economic development agencies can help entrepreneurs find affordable financing for their ventures.

New elder care entrepreneurs should also take care to study the law concerning elder and home care businesses in their state and obtain all appropriate licenses and certifications. Most states have little regulation for home care businesses – one of the more attractive features of this line of work to entrepreneurs – but ensuring that you comply with regulations that may be in effect is important.

If you’re ready to make a difference in your community, download a copy of our FREE franchising eBook to learn why Always Best Care’s training, marketing, and support have grown our franchisee revenue so dramatically.

Please refer to our most recent Franchise Disclosure Document for important details.

Home Care Franchise Sector Enjoys Continued Growth

Good news for current and prospective franchise owners: the franchise industry continues to grow, despite the economic slump of recent years. The International Franchise Association (IFA) recently released a report indicating that the franchise sector has added 184,000 jobs over the last 12 months, according to a recent Forbes article.

The franchise industry supports 18 million jobs, both directly and indirectly, according to the IFA report. While franchises are often associated with fast food restaurants, the franchise model includes dozens of industries. In more recent years, especially, this has begun to include assisted living and home care for seniors. The Baby Boomers are aging, and the number of people aged 65 and older is expected to increase dramatically by the year 2030, to around 72 million in the United States. According to the Pew Research Center, more than 10,000 Americans turn 65 every day.

With our aging population will come increasing demand for non-medical in-home care for seniors, who overwhelmingly opt to stay in their homes when given the choice.

The IFA report indicates several trends, including increasing numbers of women and minorities in franchising. This is good news, as while women and minorities have traditionally played a major role as caregivers in industries like nursing and elder care, they have not played as integral a role as business owners in these industries. Among the obstacles they have faced is lack of access to start-up capital. Franchising opens new opportunities for these individuals, and many franchisors offer financing for franchise costs. Always Best Care is one of the top franchises for minorities, as featured in USA Today.

The IFA report sends a clear message: the franchise industry continues to grow and offer excellent opportunities for individuals from all walks of life to start a business.

Always Best Care is one of the nation’s largest and most reputable senior in-home care franchises. Learn what it takes to start your own home care franchise for seniors.

Learn more about the senior care franchising industry by downloading our FREE eBook.

Please refer to our most recent Franchise Disclosure Document for important details.