Article: Franchisingusamagazine.com
Top 10 American Franchises for Senior Care in 2021 America has a rapidly growing elderly population that requires adequate healthcare and long-term care services. In 2019, the US Census Bureau recorded that around 16.5% of the population in the country was above the age of 65. It is estimated that by 2050, 22% of the US population would be 65+, which brings us to the senior/elder care services. Over the years, the demand for a qualified and trained professional adept in offering full-time care to the elderly has spiked, giving birth to one of the best franchise opportunities in the country at present. As of the last quarter of 2020, the Elderly and Disabled Services industry in America has recorded an annual growth of 4.5% amounting to $57.2 billion. As per market experts, the numbers are going to go higher in the coming years. Several senior care franchises have popped up in the meantime, presenting a lucrative opportunity for franchise investments. In case you are thinking of buying one for yourself, here are the top ten senior care franchises in America. FirstLight Home Care Initial Investment – $111,000 to $168,000 The senior care service was founded in 2009. It was built on a pre-existing home care franchise model and has a robust infrastructure designed to guide and support new franchisees. Their impeccable caregiving service rightfully places the company atop the list of top 10 American franchises in that domain. Senior Helpers Initial investment - $103,300 Royalty Fees - 5% Started in 2001, Senior Helpers has more than 305 branches since 2005. In comparison to the other franchises, it has a lower investment entry point, and its brand value makes it a profitable choice for the franchisee. They offer extensive training and support as well. Visiting Angels Initial Investment - $100,000 Another leading yet affordable senior care franchise is Visiting Angels. They do not require the franchisee to have any prior caregiving experience as the lack of knowledge is sufficed by their own training program. This is an owner-operated franchise. Comfort Keepers Initial investment - from $91,160 Royalty Fees - 3.5 - 3%