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As Christmas approaches and the year draws to a close, it’s both a time for reflection and looking to the future. If...
If you are looking for a new franchise opportunity, then you should consider investing in the home care market. It is expected that by 2024, there will be more over 65 year olds than 15 year olds in the UK. This market is booming and as the population gets older, more people are needing to take on home care services for their family members. Find out more about this market below.
Home care franchises operate by helping out people who need assistance in their home as they are unable to look after themselves properly. Franchisees will normally employ a team who are trained in care or nursing and they will be sent out to help clients every day. A typical home care franchise will cost you around £15,000 to £30,000 as an initial investment but the opportunity for ROI is huge and you would be a fool to miss out on this booming market.
The home care franchise market is in the best shape of its life and looks to only be getting better. With £2bn extra funding for home and social care of the next three years and an increased demand for home care, this really is the best time to start a home care franchise. In relation to the home care industry in the UK, there is huge profit to be gained with the current figures sitting at £7.8 billion per year.
The main factors driving the home care franchise market is the continued growth of the number of people living in the UK and the fact people are living longer. By 2026, females are expected to live to an average age of 85. This is directly related to the home care franchise industry as both of these factors increase the size of the potential target market.
Home care franchises know that they are in a great spot as both of these influential factors are forecasted to continue growing and have no realistic expectation for them to stop anytime soon. It is also important to note that dementia rates are increasing and by 2051, it is expected that there will be around 2 million people in the UK living with this disease. This shows that this market is set to be profitable for a very long time. If you want to find out more about this check out – UK Senior Care Franchise Industry: Gold Not Old.
Not only is the home care industry profitable and growing at a steady pace, but there are a few other benefits. The home care franchise market is dominated by smaller companies, but this provides an easier penetration chance for new businesses or franchise units. Within the home care franchise market, you will find a few niche categories, but the overall focus is providing care for the elderly. If you are someone who enjoys helping others and providing care to those that paved the way for your generation, then a home care franchise opportunity might be perfect for you.
With no previous experience normally required, if you have the drive and motivation to push yourself, you will find that we have a suitable opportunity for you. You will need to register with the Quality Care Commission, but you will get assistance with this and you’ll have a team of trained carers around you to make your business work. If you think you’ve got what it takes to start a home care franchise or want to know more information about it, then follow the link below to see what we have to offer.