With one of the wealthiest demographics retiring at a record pace and growing concerns surrounding the safety of nursing homes since the pandemic, more baby boomers are looking for ways to stay in their homes.
In fact, according to the CDC’s National Center for Health Statistics, the average life expectancy is 77 years, and even higher for those who reach the age of 80, as they’re likely to live another 8-10 years after reaching that milestone. With these statistics, you may want to consider starting your own senior-focused franchise business offering in-demand home care services to seniors.
If you’ve thought of starting a senior home care franchise but felt intimidated by the logistics, we’ve got you covered. Opening a non-medical senior home care business isn’t as complicated as you might think, and the requirements are much less strict than a medical model such as a nursing home. Plus, it comes with much less liability.
Seniors aging at home and with no significant medical issues may need help with daily activities; this is where a non-medical home care agency steps in. Services include light housekeeping, companionship, meal prep, shopping for essential items like groceries, and assistance with personal care such as bathing, feeding, transportation to doctor appointments, and medication reminders. These services relieve the burden on adult children and other family members.
What’s Required to Open a Home Care Franchise?
If you wanted to start a senior home care business from scratch, you’d have to check off the list of must-haves below.
- Licensing and registration
- Creating a business plan
- Secure funding
- Medicare and Medicaid certification
- Business location
Seems pretty overwhelming for a new business owner. But there’s a better way. The stress-free option for opening a senior home care business is investing in a system already set up for success. CareBuilders takes all of the guesswork out of starting your agency; all you have to do as a franchisee is finance your investment and follow our proven blueprint.
As with any franchise, startup costs are essential. These fees help get your business off the ground and continue to grow. CareBuilders at Home takes care of the back-office support, including assistance with payroll, taxes, insurance, and more so you can focus on the fun part of serving your clients.
Because of this support, we can keep the investment costs lower than other franchises. Here’s a breakdown:
- Franchise Fee: $49,500
- Total Investment Range: $115,200- $168,800
- Liquid Capital: $150,000
- Minimum Net Worth: $250,000
For a more detailed breakdown, check out our startup costs or request a copy of our most recent Franchise Disclosure Document.
Common Skills for Senior Home Care Franchise Owners
CareBuilders at Home is looking to partner with strong leaders who want to thrive in a service-based business. Here are some common skills and attributes of our most successful partners:
Strong communication skills are essential for communicating with clients and caregivers. Customer service is a cornerstone when running a business; without effective communication, clients can sometimes feel lost.
Management, sales, or business development skills are a big plus. Having some experience running a business efficiently, generating leads, and converting them into sales is sure to boost your bottom line.
Networking skills go hand-in-hand with solid communication skills. People buy people, not ads, logos, or promises. The more you can show up as the leader in your business, the more others will trust you. If you’re an introvert at heart, best to start small and join your local Chamber of Commerce. Familiar faces from your city could lead to solid relationships and potential partnerships.
Own a CareBuilders at Home Franchise
Running a home care business for a reputable franchise is an exciting opportunity to be your own boss while caring for seniors. It’s the perfect time to take advantage of the growing elderly population who need your help in taking on their daily tasks. You’ll feel good about the mission, purpose, and people you serve while seeing a significant return on your investment.
If you want to learn more about starting your senior home care franchise, contact us.