Over the past few years, there has been a shift from traditional nursing homes to in-home care providers. For entrepreneurs with their fingers on the pulse, now is the perfect time to invest in the fast-growing industry of senior care.
How to do that, you may ask?
Well, one of the best ways to position yourself competitively in the market is by purchasing a home care franchise. Not only is it a good business opportunity but also one where many are finding a sense of purpose in their careers.
Even more pressing is the fact that baby boomers will all be reaching the age of 65 come the year 2030. The need for additional care services is in high demand—meaning now is the time to establish yourself in the home care industry.
But before signing papers and jumping into the deep end, it’s a good idea to do your research.
To make that process easier for you, we’ve compiled a list of common questions most people have when researching if a home care franchise is the right choice for them.
Read along and find out the answers to your most pressing questions!
1. Do you need to be an expert to get into the senior care franchise industry?
Delivering high-quality home health care is a big responsibility. Unlike other franchise business models (like fast food chains or gyms), the care you and your employees provide is directly linked to people’s overall health and wellness.
So it’s important to do your research and only hire top-tier senior care talent.
But owning a home healthcare franchise is different from working for one. As a franchise business owner, you won’t need to have a registered nurse qualification, have any senior medical expertise, or even know how to operate medical equipment.
Your role focuses on running day-to-day business operations, not providing skilled nursing care to senior patients.
At Nurse Next Door, many of our Franchise Partners aren’t medical professionals. Some do come from medical backgrounds, but some are accountants and business people.
What’s important is that you’re highly motivated, prefer structure and systems, and are passionate about the senior care industry.
You can always hire more experts later.
2. How much do home care franchise owners make?
This is one of the most common questions we get, and while we can’t give you an exact number, we can say the average annual income for a home care or senior care franchise owner is upwards of £150,000 (Franchise UK). When compared to the average annual income of £48,000 across all franchise types (Franchise UK), the superior profitability of the home care industry is evident.
As you can see, owning a franchise can be a highly lucrative business. However, as the saying goes, “you reap what you sow.”
Succeeding at franchising requires hard work, just like owning any business, so it is best not to think of franchising as a get-rich-quick scheme. Instead, consider it a less risky and intensive way of starting a new in-home care business.
When you buy a home care franchise, you gain access to proven systems and processes already tested by many before you—fast-tracking yourself to a stable salary and more financial freedom.
2. Do senior care franchises have start-up costs?
Fees may come with the territory—but for good reason.
Unlike starting your own business from scratch, opening a healthcare franchise comes with standard investment costs. You can expect to pay an initial investment fee or upfront payment, as well as recurring royalty fees. This will all be outlined in your franchise agreement.
Fees may come with the territory—but for good reason.
You get the ultimate business advantage by paying a few fees upfront: a proven franchise formula that other franchisees have used to see success (sometimes leading to multiple revenue streams).
Let’s compare this to starting your own business.
When you become a solo business owner, there are costs involved. You have to finance your brand name, build a website, create marketing campaigns, and the list goes on.
On the other hand, when you own a franchise, an upfront investment and a small percentage of monthly revenues grant you admission into already established programs and opportunities that could take years to develop on your own.
Nurse Next Door gives Franchise Partners time to build the brand’s instant community, establish professional relationships, and focus on providing exceptional customer service.
3. Do franchise owners receive business support?
One of the biggest reasons entrepreneurs choose to invest in franchises is the built-in support system.
Partnering with an established franchise brand ensures you have all the brand assets and training that can make your business a success.
This can include:
- The franchise name, brand, and trademarks
- Ongoing coaching, training, and support
- In-house marketing collateral
- Peer networking opportunities
No good franchisor will ever throw you to the wolves. Once you’re onboarded, new Nurse Next Door Franchise Partners get access to a business coach and several weeks’ worth of training materials to prepare you for a full week of virtual training.
Check the franchise agreement while validating the franchise company to what support services they offer to their franchise owners.
Ongoing Training
The first step after signing your franchise agreement is being trained and readied for launch. You’ll be put through a week-long training intensive where you’ll learn the systems and processes, marketing, branding, and all other aspects of the business.
You’ll emphasise exceptional customer service and learn how other franchise owners go the extra mile for their clients, keeping clients and their loved ones happy and healthy.
When you finish training and start building your franchise, you’ll receive an in-person visit from your business coach and regular calls to keep you on track.
After you launch your first home care franchise, you can expect ongoing training to help you reach business success well into the future.
Marketing and Customer Service Support
At Nurse Next Door, Franchise Partners can contact the Care Services Centre: an incredible resource of customer service staff who will schedule appointments and help seniors for you.
Designed to get your phone to ring, the Nurse Next Door Intakes Team takes customer inquiry calls around the clock. If you’re running senior care services by yourself, our team can take overwhelming scheduling tasks off your plate so you can focus on day-to-day business needs.
With 400+ locations across four countries, Nurse Next Door’s centralised system provides insights from the data and analytics we collect. This can be extremely helpful for first-time franchise owners trying to grow their businesses.
Networking Opportunities
When joining a franchise, you gain instant access to a group of other like-minded people who are working towards the same goals. This is a great way to share ideas, what is working, and what isn’t. You’ll help each other through the struggles and celebrate the wins with people who “just get it.”
At a franchise, there are opportunities to meet other franchise owners through online training, in-person events, regular business check-ins, and other opportunities facilitated by the organisation.
This is not the case for many entrepreneurs or business owners, as most of the time, building a business network is done through networking events or by joining business clubs. This can take time and effort, which is why so many people love the aspect of a built-in business network that comes with buying a franchise.
4. Are seniors the only ones helped by home care?
Baby boomers are a growing demographic in the UK.
From a business standpoint, the home care industry has a lot of growth potential, especially in more rural areas where people tend to be older than their city counterparts.
While it’s clear that senior care is a growth industry, anyone can take advantage of home care services. As a franchise owner, you can offer non-medical services and personalised care to broaden your customer base.
Post-Surgery Care
Surgery can take a toll on bodies of any age. Having a skilled caregiver to help you through the healing process, monitor symptoms, and take care of you in the comfort of your own home can speed up recovery time and reduce patient anxiety.
Companion Care
Skilled care providers can offer non-medical assistance and personal care. Loneliness is on the rise in all adult age groups. Companionship care services can help mitigate the depression some people face, helping them regain a positive view on life.
Caregivers can aid health and wellness through at-home activities, social interaction, and taking them outside for physical exercise.
5. Why do entrepreneurs start senior care franchises?
There are so many reasons entrepreneurs go into the franchise business. It’s a scalable business model in a lively, recession-resistant industry with plentiful opportunities for business growth.
But one big reason entrepreneurs choose to partner with us is the sense of purpose that leading senior care franchises can bring.
It’s easy to see why mission-oriented entrepreneurs choose to own senior care businesses.
Home care is a people business.
These services empower seniors to remain in their homes, with their families, and in their communities for as long as possible—and there’s no better feeling than knowing the work you do is helping people and their families.
At the end of the day, having a positive impact in your community and making a difference in people’s lives is the best reward.
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