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Favorable
Demographics:
With the
inevitable aging of the huge baby boomer generation it is
estimated by the US Census that
by the year 2030 over 70 million Americans will be over the
age of 65. This population trend will produce enormous
business opportunities in the senior health care services
industry for savvy entrepreneurs who position themselves to
serve this fast growing age demographic. In particular
non-medical and in home care services are expected to be one
of the hottest growth segments in health care industry as
more seniors choose to decline residing in assisted living
facilities for a number of reasons including economic.
Fastest
Growing Industry:
By all
estimates the Health care industry overall is still the
fastest growing industry in the
US
and demand for health care services will continue to expand
for the foreseeable future. In particular the home health
care services industry is expected to grow significantly in
the next decade. This bodes well for small and locally owned
businesses (including franchise businesses) that are
positioned to provide non-medical and in home care service
to seniors and the elderly.
Recession
Resistant Industry:
For many
reasons, including the fact that health care spending is
generally considered a necessary expense and not
discretionary, the health care industry is widely regarded
as extremely recession resistant, if not recession proof.
Thus owning a
recession proof franchise business can obviously provide
a small business owner with a level of security and
predictability about the future that is very enviable in
this day and age.
Turnkey &
Proven Business: One of the hallmarks and biggest advantages of buying a
franchise business is that it allows you to go into business
for yourself, but not by yourself - which should ultimately
increase your chances of success.
Today
most established health care franchises can offer a turnkey and proven
business model with a track record of success that you can
verify in the due diligence process before you sign a
franchise agreement. This includes the opportunity to talk
with other franchisees in the system to help validate the
viability and profitability of the franchiser’s particular
business model.
Low Start-Up Costs:
In general many home health care and
assisted living franchises being offered today are
relatively very affordable and have low start up costs. This
is particularly true when you compare the costs of opening a
more traditional retail brick & mortar type franchise like a
fast food restaurant. Some health care services franchises
even have the option to be operated form a home-based office
which can also help lower your initial start-up costs as
well as significantly help reduce your monthly overhead
expenses. |
InShapeMD