April 3, 2012 (Powerhomebiz.com) For the entrepreneurs who pay attention to trends, there are several good reasons they’re making an investment in the home health franchise industry, especially with the aging population in the U.S. and the way the economy is trending. The need for skilled, non-medical care is on the rise and the industry is booming.
If you have an entrepreneurial spirit and an interest in health care, here are some leading reasons why a business focused on providing home health care may be right for you:
Increased Demand –
Medical and technological advances are allowing Americans to live longer than ever. In fact, according to the Census Bureau, over 54 million people will be 65 or older in the United States by 2010, a number expected to double by 2050. Of that number, a vast majority desire to age in their home for as long as they are able. Even if they do prefer a long term care facility, they can face a wait in areas where the number of existing facilities is fewer than demand wants, which means they have to look for alternative care until they’re accepted.
Since seniors are living longer, it is necessary for them to allocate funds in a way that considers the future. This places home health care businesses in a prime position of leveraging the mid-range needs of seniors that need some support but do not want the expense of residential care facilities.
Turnkey Business Model –
One of the most attractive advantages of the franchise model of home health businesses is the ability to use a system already proven as profitable. This is particularly advantageous to those whose area of expertise is more in proving care than in business. Brand Recognition In any business, brand recognition is important in gaining a competitive edge. Corporations spend millions of dollars in the development of a highly recognized brand and marketing collateral. A franchise has the advantage of that valuable brand power which equals savings in marketing and customer acquisition costs.
Business Support –
Regardless of whether you’re a full time business person with lots of skills or have very little business understanding at all, using a franchise model provides you with layers of support throughout the corporation as well as being able to rely on other franchise owners. This allows you to have access to a collective knowledgebase of industry trends.
Easier Staff Recruitment –
Having a reliable and well trained staff is essential in any business endeavor and building a great staff is a lot easier when you’ve got a recognized brand. This not only leads to quality hires, it saves time and money in the process.
Although a home health franchise isn’t something everyone will enjoy, it is an exciting opportunity for those entrepreneurs who are into health services.
Patty Morris has done the research and knows how lucrative a home health care franchise can be. If you are looking to invest in a home health care business, Homewatch Caregivers has great home health franchise opportunities. Visit http://www.homewatchcaregivers.com/franchise/ for more information on the home care business.