There are many different franchise opportunities available out there; one of the most viable and valuable franchise opportunities available today is an assisted living franchise. Assisted living franchise opportunities are a direct response to the growth of the senior care industry, which is expected to grow exponentially over the next few decades. The following guide is a closer look at why these types of opportunities are highly valuable in the franchise market.
Growing Senior Care Industry Facts
The senior care industry is expected to grow exponentially over the next few decades. Currently, around 70% of people over the age of 65 are estimated to require some form of long-term care services. By 2015, the number of people living in the US estimated to be over the age of 65 is 88.5 million, which is more than double the amount of that same population in 2010. Within the next 20 years, the number of people living in the age group of 75 to 84 is expected to grow by 86% which will increase the need for senior care in these age groups.
Benefits of Senior Care Franchise Opportunities
Senior care franchise opportunities are beneficial for the franchise operator for many reasons. Notably, the amount of operating costs and overhead for a senior care franchise is very low when compared to other types of senior care models. Another benefit is the ability for senior care franchise owners to operate a franchise with as little as one or two people, with 1 person handling the administrative and paperwork duties. Other benefits include flexible franchise styles and the ability to work in a self-employed, driven industry that is perfect for people looking to make money without the constraints of a third party employer.
Why Senior Care Franchise Models Work
The business model for this type of senior care franchise works because it allows the franchise owner to establish and maintain a positive reputation through the existing franchise name and operating model. The existing franchise will make it easier to market and network for franchise owners, who will be able to more easily bring in new clients and even referral partners. The existing franchise model also makes it easier for the franchise owner to begin making profit, as the proven model has worked for countless others in the past.
If you are interested in a viable, potentially lucrative franchise model in an industry that is expected to grow vastly within the next few decades, consider a senior care franchise opportunity today.