global franchise newsletter sign up graphic

Stay in the know and receive the latest international franchising news, insight and investment opportunities

close catfish

Aging gracefully: how healthcare franchising is looking out for the elderly

Aging gracefully: how healthcare franchising is looking out for the elderly

The senior population is growing every day, and for families, this could mean hefty hospital bills – that is, unless these philanthropic franchises have anything to say about it

Keep up to date with the latest Global Franchise News sent straight to your inbox. Sign up here.

Growing old doesn’t just mean graying hair and achy joints. It isn’t all about senior discounts and shaking a fist at rowdy teens. For the right individuals, the elderly present a wonderful opportunity to pursue a career that is both fulfilling and mutually beneficial. For the right entrepreneur, this growing demographic could mean success beyond measure.

The fact is this: we’re all going to grow old. No matter how many anti-aging creams we slather on, or workout routines we may puff and pant through, our bodies will eventually show signs of wear and tear. In fact, by only 2022, the number of senior citizens aged 65 and above will total more than 688 million – or 11.6 per cent of the overall global population, according to data and accounting organization, Deloitte.

With an inexorably growing demographic comes increased value. According to Interim Healthcare, the U.S. home healthcare market is set to reach upward of $364.69bn by 2022, at a compound growth rate of 8.8 per cent. In America alone, individuals aged 65 and up will make up around 30 per cent of the national population, and many of these will require personalized care. The fact is that more and more people want to age in their own homes – hence the need for bespoke, affordable home care franchises.

Why care about care?
Far from merely a quick paycheck, the home care industry is contributing to a valuable cause in society: looking out for those most vulnerable. Loneliness, for example, is a proven killer of seniors; in the States, more than 40 per cent of older people regularly experience loneliness, according to a University of California, San Francisco study. This is even more significant for those aged 85 and older – the “oldest old” members of our society, as described by The Center for Disease Control and Prevention – who will triple from 6.3 million in 2015 to 17.9 million by 2050. If there’s anything to take away from these numbers, it’s that we need unparalleled and proven franchises to care for our parents, grandparents, and, eventually, ourselves. Services like Driving Miss Daisy, which operates in the U.K., Australia, and New Zealand, and provides companionship and transportation to seniors.

“It is always a benefit, mentally and physically, to remain within your own home where everything is familiar and personal to you”

Or Right at Home, the huge healthcare franchise operating in multiple regions around the globe, offering all-round support to seniors and families. The brand’s model has been designed “so that people can build trusting relationships, and they can be encouraged to do what they can for themselves,” says Kate Dilworth, franchise recruitment manager. “You’re not only getting one-to-one attention from the carer in your own home; you’re getting a support package that’s specifically designed to suit an individual’s needs.”

No place like home
While some care services may supply professionals to hospitals and institutions, such as Kare Plus, the in-home care sector, specifically, is seeing a meteoric rise in all markets. People simply want to stay in their own homes for as long as possible, and they’re willing to invest in a renowned franchise to do it.

In fact, according to the American Association of Retired Persons (AARP), 87 per cent of adults aged 65 and above want to stay in their current home – and their familiar community – as they grow old. Not only does this reduce the strain on public health services and hospitals, but a sense of familiarity can drastically assist with care for patients suffering from degenerative conditions, such as Alzheimer’s.

It’s not just about helping with these conditions, though. Staying in their own home for as long as possible allows a franchise’s client to maintain a measure of independence and autonomy, that simply isn’t afforded by being admitted to an external facility.

“It is always a benefit, mentally and physically, to remain within your own home where everything is familiar and personal to you,” says Michelle Fenwick, director at Heritage Healthcare. “This is usually a client’s first choice.”

Perfectly personable
As with many sectors, care is an industry that seems impenetrable to entrepreneurs who lack an employment history populated with the ‘right’ kind of jobs. The good news? Working in care isn’t a requirement for joining a care franchise. “I’m not looking for people with a background in care,” says Dan Archer, MD of Visiting Angels.

“If [franchisees] have had a situation with a family member where they’ve seen how difficult it is to find good quality care, then that can definitely be a driver for wanting to do something different.”

Franchisors handle much of the rules and regulations surrounding this (appropriately) complex sector, and copious training is delivered to hopeful franchisees to ensure the all-important end-user – the person receiving care – is treated to the highest standards possible. Franchisees don’t need to be health experts, but they do need to have compassion, empathy, and a personable demeanor.

According to the AARP, around 10,000 people will turn 65 every single day, and research conducted by the Home Care Association of America identified that 40 per cent of adults in that age range will need daily assistance. This is an undisputably growing sector, and for an empathetic, motivated, savvy business person? It’s time to care.

THE KEY STATS

- 280 miles distance between U.S. seniors and their nearest child (Source: AARP)

- $517.23bn value of global healthcare franchise market by 2025 (Source: Grand View Research)

- 668 million seniors by 2020 (Source: Deloitte)

Also read
Interview: Dan Archer, Visiting Angels

Keep up to date with the latest Global Franchise News sent straight to your inbox. Sign up here.

you may be interested in

franchise directory

  • TaxAssist Accountants

    Business & Professional Services, Financial Services, <100K, Featured

  • Cafe2U

    Food & Catering, Coffee, Take-away, <100K, Featured

  • 800 Pizza

    Food & Catering, Fastfood, Pizza, Take-away, Featured

view more
Connect with Linkedin Logo
Global White Logo Click Here
Close button

WHAT DO WE USE YOUR INFORMATION FOR?

Any of the information we collect from you may be used in one of the following ways: To personalize your experience (your information helps us to better respond to your individual needs) To improve our website (we continually strive to improve our website offerings based on the information and feedback we receive from you) To improve customer service (your information helps us to more effectively respond to your customer service requests and support needs) To process transactions your information, whether public or private, will not be sold, exchanged, transferred, or given to any other company for any reason whatsoever, without your consent, other than for the express purpose of delivering the purchased product or service requested. To administer a contest, promotion, survey or other site feature To send periodic emails The email address you provide for order processing, will only be used to send you information and updates pertaining to your order. Note: If at any time you would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email.

HOW DO WE PROTECT YOUR INFORMATION?

We implement a variety of security measures to maintain the safety of your personal information when you place an order or enter, submit, or access your personal information We offer the use of a secure server. All supplied sensitive/credit information is transmitted via Secure Socket Layer (SSL) technology and then encrypted into our Payment gateway providers database only to be accessible by those authorized with special access rights to such systems, and are required to keep the information confidential. After a transaction, your private information (credit cards, social security numbers, financials, etc.) will not be stored on our servers.

DO WE USE COOKIES?

Yes (Cookies are small files that a site or its service provider transfers to your computers hard drive through your Web browser (if you allow) that enables the sites or service providers systems to recognize your browser and capture and remember certain information. We use cookies to help us remember and process the items in your shopping cart, understand and save your preferences for future visits, keep track of advertisements and compile aggregate data about site traffic and site interaction so that we can offer better site experiences and tools in the future. We may contract with third-party service providers to assist us in better understanding our site visitors. These service providers are not permitted to use the information collected on our behalf except to help us conduct and improve our business.

DO WE DISCLOSE ANY INFORMATION TO OUTSIDE PARTIES?

We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our site policies, or protect ours or others rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.

THIRD PARTY LINKS

Occasionally, at our discretion, we may include or offer third party products or services on our website. These third party sites have separate and independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites. Nonetheless, we seek to protect the integrity of our site and welcome any feedback about these sites.

CHILDRENS ONLINE PRIVACY PROTECTION ACT COMPLIANCE

We are in compliance with the requirements of COPPA (Childrens Online Privacy Protection Act), we do not collect any information from anyone under 13 years of age. Our website, products and services are all directed to people who are at least 13 years old or older.

ONLINE PRIVACY POLICY ONLY

This online privacy policy applies only to information collected through our website and not to information collected offline.

TERMS AND CONDITIONS

Please also visit our Terms and Conditions section establishing the use, disclaimers, and limitations of liability governing the use of our website at globalfranchisemagazine.com/terms-conditions

YOUR CONSENT

By using our site, you consent to our online privacy policy.

CHANGES TO OUR PRIVACY POLICY

If we decide to change our privacy policy, we will post those changes on this page

CONTACTING US

If there are any questions regarding this privacy policy you may contact us using the information below. All correspondence relating to the Website should be sent to: Global Franchise 21/23 Phoenix Court Hawkins Road Colchester Essex CO2 8JY Email: subscriptions@aceville.co.uk