Benefits Abound for Home Care Entrepreneurs
Home healthcare is a growing sector. For the last five years, it has grown faster than the general economy and is expected to grow at an astounding rate of 7.3% per year through to 2028.
An aging population and concerns about safety in care homes and hospitals have served to accelerate the popularity of healthcare at home. Plus, many people are not happy with the quality of care they receive at hospitals or nursing homes.
If you’re looking for an opportunity to invest in an industry with enormous potential, here are six reasons to start a home healthcare franchise business today.
A home healthcare franchise is a tried and tested business model
When you invest in a home care franchise, you are investing in a tried and tested business model. The franchise has spent years, maybe decades, building their business. The proof that the business model works is in their longevity and profitability, and the success of their franchisees.
The franchisee benefits from brand recognition
Brand recognition has many benefits for home care franchises. It improves their conversion rates, increases customer loyalty, enhances their visibility, and makes it easier for them to find potential recruits.
When you buy a home care franchise business, you benefit from its brand. It can take years to build the same level of recognition when starting a home care business from scratch.
New to business? Receive expert training and support
You may be new to business, a first-time entrepreneur. You may be entering the healthcare industry for the first time.
It is in the interest of the franchisor to ensure that you have what it takes to make it in business and healthcare. You’ll receive the training you need to prepare you for life in the home healthcare business. You’ll also receive other support, such as marketing materials, and help to gain clients.
Home care franchisees benefit from lower overall costs
One of the major benefits of starting a home care franchise is the lower cost compared to starting an independent business. Home care franchises also use the power of scale to procure equipment at lower cost – and this benefit is passed onto its franchisees.
These factors combined mean a franchise business in this sector could provide higher returns from an initial investment as low as around $100,000.
High-tech equipment automates difficult tasks
From delivering care in the home to converting leads, high-tech equipment helps to automate difficult tasks in home care. It helps to differentiate your business from others, market more efficiently, maintain relationships with referral partners and reduce errors in the delivery of home health care. You also get real-time information detailing employee performance.
Home healthcare is what people want
The home healthcare market is growing fast because it is what people want, especially as the population ages. In a survey conducted by the American Association of Retired Persons (AARP), it was found that 90% of seniors prefer home care to enter an assisted-living home, with 82% saying they wish to remain in their own home.
Is a franchise in home health care right for you?
There are many benefits that come with starting a home care franchise. It’s an opportunity for entrepreneurs to both make money and help others in their community. Home care franchises will always be relevant because people need help in their homes.
With lower startup costs, access to modern technology, and continuing training and support, as well as the benefit of brand recognition, starting a home care franchise could be the perfect business opportunity for you. To discover if it is, take our franchise aptitude test – your starting point for successful franchising.