Three Reasons Why Senior Care Is Booming in 2016
2016 is set to be a year of big changes and transformations, especially in the world of business. The economy is, for the most part, back on track, and people are beginning to feel more comfortable when it comes to using their capital to start their own businesses. More and more, people are realizing that franchising is a great way to start a business of one’s own without the headaches and extreme challenges that are often associated with typical startups. The savviest entrepreneurs in franchising, however, are starting to focus increasingly on the in home senior care industry, where Always Best Care is a leader.
Let’s take a look at the three big reasons that senior care promises to be a golden opportunity for entrepreneurs and investors in 2016.
#1 — The Senior Population Is Growing Fast
The “Baby Boomer” generation is reaching retirement age in huge numbers, and the oldest members of this important generation will turn 70 in 2016. This segment of the population is massive, and its members want to stay as independent as possible during their retirement years. That means that in home senior care services, such as those provided by Always Best Care, will continue to be in high demand.
Today, seniors make up more than 13 percent of the population. In less than a couple of generations, that number will rise to 20 percent. The need for senior care options is becoming more and more urgent, which is why getting into the industry as a franchisee is such a smart move.
#2 — Seniors Want to Stay at Home
Members of the independent Baby Boomer generation aren’t interested in living out their later years in nursing homes and other such facilities. Instead, they prefer to maintain the routines and lifestyles that they’ve grown accustomed to, and that means staying at home. But remaining at home and staying independent requires assistance as individuals age. That’s where non medical senior care services come in. Seniors — and concerned family members — can relax knowing that their independent lives are supplemented by caregivers who can make daily tasks easy.
Seniors are increasingly opting to stay at home, which is why getting into the senior care industry is so potentially lucrative.
#3 — Care Costs Continue to Rise
Caring for an aging person’s needs in a traditional nursing home facility is no longer a reasonable cost to bear for many families. When combined with the rising costs of health care, it’s enough to make a large portion of the senior population consider alternatives, and in-home senior care options are incredibly attractive.
When you provide senior care services in the home, you help seniors and their families save money. The best part? You’re doing so in a way that builds your business and provides a much-needed service to the community. What could be better than that?
Your Own Senior Care Business
If you’re interested in getting into the booming senior care business, we invite you to consider a Franchise With Always Best Care. To learn more, download your copy of our FREE franchising ebook today!
Please refer to our most recent Franchise Disclosure Document for important details.