Photo from Unsplash
Originally Posted On: https://franchise.preferhome.com/reasons-to-own-a-home-care-franchise/
It is expected that the number of Americans who are over the age of 65 will double over the course of the next forty years. By 2040, it’s estimated that there will be 80 million people in this demographic in the U.S. This means that roughly one out of every five Americans will be over the age of 65 by 2040, which is an increase from about one in eight in 2000.
Adults over the age of 85 are the group that needs help with basic personal care most often. It is expected that the number of adults in this age group with almost quadruple between 2000 and 2040.
As you can see, the number of people who will require assistance with daily tasks will continue growing over the coming decades. However, a majority of people would prefer to stay at home rather than moving to some kind of assisted living facility or nursing home.
When you start a home care franchise, it means that you are helping to facility elderly Americans in their desire to live at home as they age. It is expected that there will be increasing demand for home care in the decades to come, making this a very strong industry to get into now.
Running a Home Care Franchise Has Positive Benefits For the Community
When you run a home health care franchise, it means that you are having a direct positive benefit on a community. As mentioned previously, most people would prefer to stay at home as they age, even once they start needing help with daily tasks.
By allowing people to stay in the comfort of their own homes, you are making it so they can remain in the communities that they call home. It means that friends, relatives, and neighbors can more easily stop by and spend valuable social time with them.
(Are you wondering what the legal pitfalls are around starting a home care business? Register for our live webinar here!)
You Can Help People Live Healthier, Longer, Happier Lives
There are a number of different ways that starting a home care business can allow you to help people live longer, healthier, and happier lives.
One grim statistic is that people who are admitted to nursing homes have a much higher mortality rate than those who stay in their homes in their community. This means that by helping facilitate home care services in a community, you are potentially helping to lengthen their lifespan. It’s no wonder that more than half of adults over 50 say that they would rather die than live in a nursing home.
Home care can help people stay healthier, too. With the attendance and attention of a skilled healthcare professional, elderly adults can get the preventative and therapeutic care they need without going to the hospital. This means that issues can be caught early when they do arise and oftentimes prevented.
Health care franchises also support the quality of life of the aging population. It allows them to maintain as much independence as they want to or need to.
This is an incredibly important point, as the loss of independence can be psychologically and emotionally very difficult for people. It can give seniors a sense of purpose when they have some control over their lives and a sense of independence.
Being able to maintain independence is also important for seniors’ health. It’s important for older people to stay strong and maintain their balance so that they can be as independent as possible. Maintaining a level of independence can motivate them to stay strong and help keep their memory in an active state.
Home care also allows aging adults to stay in the home that they love, where they are most comfortable. This is an obviously huge boon for quality of life when compared to moving to a facility.
You Can Define Your Own Business Culture
One of the great things about starting your own health care franchise is that you become your own boss. Many people lose motivation in their jobs because they don’t feel like their values are in line with those of their employers. Oftentimes, people are pushed to either try and change the company, find a new company, or start their own.
When you start a home care franchise, it means that you can define the business culture and values. You can run a business the way that makes sense to you. It means that you can create a culture where your clients receive the best possible service and the most compassionate care.
(Are you ready to set up a journey call with Prefer Home? If so, schedule your call now!)
Running a Senior Care Franchise Is Resilient to Economic Uncertainty
There is a lot of economic uncertainty currently in this age of the coronavirus pandemic. For that reason, any endeavor you start should be resilient to potential recessions or other economic trouble. Whether you start an assisted living care franchise or a home care franchise, the industry of elderly care is expected with certainty to continue thriving.
The Home Health Care Franchise Industry Is Thriving
It is expected that the home health care market will grow from $103 billion to $173 billion between 2018 and 2026. Both the changes in how health care is being delivered and demographic forces are helping to encourage this growth.
The Baby Boomer generation is completely transforming the world of health care, for one. This is the largest generation and they range from between 57 and 75 years old. It is estimated that there will be 80.8 million Americans over the age of 65 in 2040.
At the same time, health care organizations are increasingly looking towards health care that can be provided at home. This is known to help reduce readmissions and improve patient outcomes.
Some home care franchises offer a full spectrum of care options. This can be helpful in making a smooth transition possible when an individual is moving from a hospital setting back into their own home.
(Are you interested in being invited to become a franchisee? If so, fill out this form.)
It’s a Great Choice For People Who Love People
Are you just a people person? When you own a home care franchise, it definitely isn’t a socially isolated job. It’s your job to help others, making it a great option for people who just love people.
If it’s important to you to make a difference and you love being surrounded by others, this could be a very reasonable choice for you.
Running a Health Care Franchise Means You Won’t Be Stuck Behind a Desk
While desk work might be just fine for many people, other people can’t stand to sit still so long. If you like to spend time in a variety of environments, this is a great business for you to start. You can choose how involved you are in person, making it very accessible to people no matter how much variety you’re looking for.
Choosing the Best Home Care Franchise Means You’re Using a Proven Business Model
One of the great things about buying into home care or nursing home franchise is that you are able to use a business model that is proven to work. The franchiser already knows what works and what doesn’t, saving you a lot of money and time. It also means that it’s a lot less risky and could help you turn a profit much quicker.
What Is a Non-Medical Home Care Business?
There are more and more services that are being delivered straight to the home with the increasing desire to age in place. Non-medical home care is a fast-growing business model.
There is an important distinction between medical and non-medical home care. Non-medical home health care services provide things like personal care and help with daily tasks. These might include housekeeping, meal preparation, and transportation.
Medical home care services, on the other hand, provide medical care from skilled licensed rehab and nursing services. Medical care is provided under strict guidelines and at the order of a physician.
What Types of Services Are Typically Offered By Non-Medical Home Care Companies?
Non-medical home care services can also be referred to as personal care and companionship services. They might include services such as:
- Assisting with self-care, such as bathing, grooming, using the toilet, and dressing
- Assisting with light housekeeping, meal planning and preparation, errands, laundry, escorting to appointments, and medication reminders
- Helping to enable a safe home environment and reduce the risk of a fall accident
- Supervising for a patient that has Alzheimer’s disease or dementia
As you can see, these services can help elderly people maintain as much independence as possible while still getting all the help they need. No longer burdened with having to solely take on tasks that are increasingly difficult such as making meals and cleaning up, home care services can help improve the quality of life of aging Americans.
What Types of Services Are Typically Offered By Medical Home Care Companies?
There are both private duty nursing care companies and medical home healthcare companies. A private duty nursing care company might provide services including:
- Monitoring vital signs
- Ventilator care
- Tracheostomy care
- Care for conditions and diseases such as ALS, MS, spinal cord injury, or traumatic brain injury
- Administering medications
- Feeding tube care
- Ostomy-gastrostomy care
- Catheter care
A home health care service provides a different type of service than private nursing care services. Some of the services potentially provided by home health care companies include:
- Occupational therapy
- Physical therapy
- Short-term nursing services
- Medical social work
- Speech-language pathology
- Home health aide services
As you can see, there is a wide range of types of home care that can be provided. The existence of this variety of home care organizations is what will allow aging Americans to experience the quality of life they deserve in the comfort of their homes.
Are You Looking to Break Into the Industry of Senior Home Care?
Prefer Home has been in the home care industry since 1984, back when private home care was practically unheard of as a health care option. This means that we can help you streamline your home care service journey.
We are here to help strategically position you to have the opportunity for success in a marketplace that is quite competitive. Our organization is unique and we pride ourselves on maintaining the highest of standards. Our application process is quite selective and opportunities are only awarded by invitation.
Do you think starting a home care franchise might be the right choice for you? Fill out our contact form to see if you qualify to run a Prefer Home franchise.