The senior population is growing due to the large Baby Boomer generation aging. Demand for senior care is expected to explode over the next few decades. A healthcare and senior care franchise allows you to take advantage of this growing opportunity and make a difference in the lives of others at the same time.
1. The healthcare franchise industry is more than just senior care. Healthcare franchises provide medical and non-medical services to patients such as companionship, therapy, running errands, grooming assistance, meal preparation and feeding, housekeeping and laundry, nursing intervention, and more.
2. Healthcare franchises may even be DNA and drug testing franchises or medical staffing franchises.
3. The desire to age in place has been a trending factor in the growing home and senior care industry in recent years. The senior population, those aged 65 and over, are accustomed to their own homes and do not want to give up freedom and control to live in a nursing home.
4. Canada has more people over the age of 65 than under 15. By 2027, an estimated 22% of the Canadian population will be over the age of 65.
5. Nearly half of Canadians aged 55 and older have considered supportive living, residential care, or home care.
6. Many home and senior care franchises have a low investment cost, and those franchises that can be operated home-based have an even lower cost of entry and ongoing costs.
7. Top healthcare and senior care franchises include: Comfort Keepers, Right at Home, Nurse Next Door, Assisting Hands Home Care, Home Instead Senior Care, Home Helpers Home Care, Just Like Family Home Care, and Wheels for the Wise.
Trends and Facts About Healthcare & Senior Care Franchises
Senior Care Franchises
Thanks to an aging population and a widespread demand for high-quality, specialized care, the senior care industry in Canada is thriving. Below, you can learn about the benefits and costs of investing in a senior care franchise opportunity in Canada.
Why Start a Senior Care Franchise in Canada?
Starting a senior home care or residential elder care franchise in Canada is a rewarding business opportunity with the potential for excellent returns. All Baby Boomers are set to be age 65 or over by 2030, and these folks are going to require high-quality, ongoing care in increasingly high-tech senior living communities.
But it's not all about financial returns. Offering personal care to seniors in your local community makes a meaningful difference in the world.
What's more, a franchise within the senior healthcare industry offers all the benefits of being a business owner but with added benefits. You get comprehensive training, marketing is taken care of, and support is available at any time you need it.
How Much Does It Cost to Buy a Senior Home Care Franchise?
The initial investment of a senior care franchising opportunity varies but typically ranges from $20,000 to $150,000, depending on location and service offering. Alongside the upfront franchise fee, your net worth might be taken into account.
How Franchise Direct Can Help
Franchise Direct is your partner in finding the perfect senior care franchise opportunity. Join today to take advantage of our invaluable resources and direct access to franchise owners.