A home health care business franchise is rewarding in more ways than one
For those ready for their next big career move but don’t feel equipped to handle the stress or financial burden that comes with starting a new business from scratch, purchasing an existing business or franchise can be an accessible option for new and experienced business owners alike. The good news is that there are many options to choose from… especially if you’re looking for an opportunity to build your own business and make a positive impact in your local community.
Read on to learn why a home health care business franchise is rewarding in more ways than one (and our top 10 reasons to invest in one in 2021):
Reason #1: You Do Not Need A Background in Health Care to Offer Successful Home Health Care Services
While a background in health care can certainly be a benefit when running a home health care agency, senior care is the perfect option for anyone who thrives on providing people with quality care: as we here at Nurse Next Door like to say, “Skills can be taught. Passion can’t!”
In fact, three out of four of Nurse Next Door franchise owners come from a non-medical background. This is because our team of experts provide ongoing coaching for franchise owners to help them balance their start up costs, capitalize on new client admissions, establish their online presence, and become confident (quickly!) as a business entity.
Even if you do not have Medicare and Medicaid certifications, Nurse Next Door ensures that you have the best resources, tips, and hands-on guidance required to thrive in the personal care industry.
Reason #2: The North American Senior Care Industry is Huge (and Growing Rapidly)
As medical professionals and our existing franchise owners already know, the North American population is graying at an accelerated rate, making it recession-proof: older adults made up 12.9% of Americans in 2009, making older adults approximately 1 in every 8 people. By 2030, all baby boomers will be older than age 65, making it so 1 in every 5 people will be classified as a senior citizen.
This is compounded by the fact that nursing homes, rehab outpatient centers for senior citizens, and assisted living facilities are becoming increasingly more expensive, with the average cost of a nursing home in the United States being roughly $50,000 per year. Most private insurance policies do not cover long-term care, and neither does Medicare.
Even in Canada, which has taxpayer-funded universal health care, home care businesses are growing in demand due to the similarly high costs of nursing homes and assisted living facilities.
The opportunity for home health care agencies to succeed has never been larger due to this increased demand, and statistics show that this demand is only going to further skyrocket in the years to come. We recommend that business owners take the leap now in 2021 in order to get their business set up before demand becomes even more booming.
Reason #3: Franchising a Private Home Care Business is Less Risky Than Starting From Scratch
Even if the healthcare market wasn’t booming in 2021 and beyond, franchising a private home care business via Nurse Next Door would still be less risky than starting from scratch.
Why? Because Nurse Next Door touts a tried-and-true system: business owners just like you have had successes and failures before you, all of which you can learn from. Instead of being in a situation where your business weighs heavily, you can instead focus on your clients knowing that a franchisor has tested the waters before you to discover what works and what doesn’t. This sets you up for success and helps you to be better prepared than most entrepreneurs ever are.
Reason #4: Working with a proven business model
As a franchisor, you can become one of our business entities operating successfully with little-to-no marketing plans or expertise in place.
Due to Nurse Next Door being a trusted and recognizable business across the United States, Canada, and Australia, investing in a home care franchise in 2021 through us comes comes with an inherent trust from your target audience. Home care agencies under the Nurse Next Door name are known to be professional, compassionate, and, of course, reliable.
This is a result of our:
- Live 24/7 scheduling support
- Licensed and insured caregivers
- Empathetic Alzheimer’s and dementia care
- Full-spectrum home care
- Ongoing case management
- Regular care updates
- And no long-term contracts
Our business operations market themselves, and that pertains to your business as well due to the specific training course (and ongoing marketing-related guidance) we provide each and every franchisor. Say goodbye to advertising in local newspapers, handing out business cards en masse, or having to establish your business name from scratch; instead, say hello to focusing on simply providing quality home care services.
Reason #5: There Are Multiple Franchise Financing Options Available
As the franchisor of a Nurse Next Door care agency, you benefit from the strong brand and financial history behind your franchise.
This makes it easier for banks to justify the approval of a loan, which, in turn, makes multiple financing options available to you.
These options include the ability to borrow, leverage home equity, rollover your 401(k), or receive a Small Business Administration (SBA) loan. This wide array of financing options provides much-needed flexibility to potential agency owners looking to make their start in home care.
Reason #6: You Determine Your Services, Success, and Level of Involvement (No More Sitting Behind Your Desk All Day!)
On top of being a part of the fastest growing healthcare industries, another one of the primary benefits of investing in a home care business in 2021 is the fact that, as a franchise owner, you determine your services and success.
As the owner of a home healthcare business, you set your own goals and, in turn, measure your own success based on your unique business plan. Our company description explains that we believe seniors can stay at home, and, to achieve that, franchisors can pitch to potential clients a blend of:
- Meal preparation
- Helping to facilitate doctors appointments or communicate with adult children (particularly for clients with memory concerns)
- Around-the-clock care like blood pressure checking or keeping seniors cognitively engaged
- Transporting clients
- Giving end-of-life care
After completing your complimentary phone consultation with a client, you can be the one to decide if all your employees (or a handful of them) are suited to certain services and arrange your team of home care aides accordingly.
Speaking of your team of professional caregivers…
Reason #7: A Built-In Recruitment and Retention Plan for Home Health Care Businesses
Another core component of our training and ongoing support is a built-in hiring plan for agency owners, which includes tips on caregiver training and how to hire qualified home health aides.
Our in service training incorporates how to balance a business checking account when keeping on top of payroll records, recommendations on how to set up a cheaper accessible location, the world-class professional liability insurance and general liability insurance policy and supplier we offer to protect you and your business, what to know about your internal revenue service, establishing employment basics, like applying for your Federal Tax Identification Number (TIN) and Federal Employer Identification Number (EIN), or facilitating private pay with your clients.
Reason #8: Our Simple Four-Step Process to Home Health Care Business Ownership
Whether they be former local physicians, certified nursing assistants, hospital discharge social workers, or simply an entrepreneur passionate about providing better care than senior centers can, we base the eligibility of a potential franchisor off of four steps: people who share our belief of equal parts profit and purpose; people who have an aptitude for sales and marketing via the core three market segments, online marketing, print marketing, and marketing via interpersonal relationships; people with strong leadership capabilities; and people with the tenacity necessary to make their healthcare agency franchise thrive.
(As a bonus, business owners who are gung-ho to drive our branded bold pink car are well on their way to running a successful senior service business.)
Reason #9: Our Equally as Straightforward Seven-Step Discovery Process for Potential Personal Care Franchise Owners
Our Discovery Process is as follows to ensure that you have what it takes to run a successful senior care business:
- We provide our 15-minute Discovery Video, which provides a fantastic overview of the Nurse Next Door franchisor experience
- Our team hops on a one-on-one call with you to qualify you for the remainder of the process
- We conduct an initial interview in order to answer any remaining questions you may have surrounding the opportunity
- Our team of experts begin to provide you with our ongoing support and systems that will set you up for success as a franchise owner
- After you have been debriefed on how to best care for aging baby boomers while simultaneously making a profit, you will be armed with a financial plan template and introduced to fellow franchise partners (which is the perfect way to meet other purpose-driven people!)
- You will be invited to Heartquarters to spend a day with our team and experience the culture first-hand
- Lastly, you will sign your franchise agreement and be a certified business entity set under the Nurse Next Door umbrella!
It’s just that easy.
Reason #10: The “Frontline to Franchisee” Program for Caregivers
Caregivers are the heart of our business… but caregiving jobs are typically only ever part-time in the home care industry, making it so many caregivers are forced to take on multiple jobs in order to get by.
To give thanks to these amazing caregivers, our “Frontline to Franchisee” is a franchise opportunity geared directly to caregivers. Caregivers can get started with their own franchise business with zero money down, can enjoy extra support and training, and can even reap the benefits of a special flexible fee structure.
Due to the tirelessness of our caregivers, our clients’ life expectancy increases (alongside their enjoyment of life); to give thanks to this in home care, we help any caregiver who wants it become the owner of their own healthcare agency.
Take advantage of these opportunities and get into the home health care business now!
Watch Our Discovery Video For More Information On
- How to start your own home care franchise
- Nurse Next Door’s unique 24/7 call center
- What type of training & support we provide for you