A home care business is rewarding in more ways than one!
Are you ready for your next big career move? Well, fortunately, there’s no better time than the present!
With changing industries and demographics come changes in new business opportunities and growth. This is exactly what is being seen in the home health care industry, one of the fastest growing industries in 2022.
While starting a new business can be an exciting thought, it can also feel daunting. Maybe you don’t feel equipped to handle the stress or financial burden of starting a new business from scratch.
If this is the case, don’t fret, as it is an understandable yet remediable worry.
By purchasing an existing home health care business or franchise, you can start a business without the stress of starting a company alone.
Do you want more good news? Well, we have it! Gone are the days of building a buisness with no soul.
If you’re looking for an opportunity to build your own business and positively impact your local community then you’ve come to the right place as running your own home health care company can provide just that!
Read on to learn 10 reasons why starting a home care business franchise is rewarding in more ways than one:
1. You Do Not Need a Background in Health Care to Run a Successful Home Health Care Agency
While a background in health care can certainly be a benefit, it is not a requirement.
To run a home health care agency, the main thing you need is a passion and drive to provide people with quality care and support. We here at Nurse Next Door like to say, “Skills can be taught. Passion can’t!”
In fact, 3 out of 4 Nurse Next Door franchise owners are not existing professional caregivers and don’t come from a medical background.
This is because our team of experts provides 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 you have the best resources, tips, and hands-on guidance. You’ll be thriving in the personal care industry in no time!
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. Let’s take
By 2030, all baby boomers will be older than age 65, making it, so that 1 in every 5 people will be classified as a senior citizen.
In fact, by 2034, the US Census Bureau projects that children under 18 will outnumber older adults for the first time in history.
While across the border in Canada, they are seeing similar projections, with Canada’s aging population about to double in the next 20 years.
This is compounded by the fact that nursing homes, rehab outpatient centers for senior citizens, and assisted living facilities are becoming increasingly expensive. For example, the average cost of a nursing home in the United States is roughly $50,000 annually.
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. Statistics show that this demand will only skyrocket further in the years to come.
We recommend that business owners take the leap now in 2022 in order to get their business set up before demand becomes even more booming.
3. Franchising a Private Home Care Business is Less Risky Than Starting From Scratch
Even if the healthcare market weren’t booming in 2022 and beyond, franchising a private home care business via Nurse Next Door would still be less risky than starting from scratch.
Because Nurse Next Door touts a tried-and-true system, business owners 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.
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 2022 through us 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, which also pertains to your business 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.
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:
- 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.
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, there are even more benefits of starting a home care business in 2022.
The fact that, as a franchise owner, you determine your services and success.
As the home healthcare business owner, you set your own goals and, in turn, measure your 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 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 providing a complimentary phone consultation to a client, you will then decide which of your employees is best suited to certain services offered based on the caregiver’s skills and style of care. This helps to better match your clients with the right caregiver—ultimately giving you the power to create the best customer experience possible.
Speaking of your team of professional caregivers…
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, including tips on caregiver training and hiring 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
- Access to world-class professional liability insurance and general liability insurance policy 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)
- Facilitating private pay with your clients
8. Our Simple Four-Step Process to Home Health Care Business Ownership
Whether you’re a former local physician, certified nursing assistant, hospital discharge social worker, or simply an entrepreneur passionate about providing better care than senior centers can, we base the eligibility of a potential franchisor on four “people” criteria:
- 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
- marketing via interpersonal relationships
- People with strong leadership capabilities
- 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.
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:
- Our 15-minute Discovery Video provides a fantastic overview of the Nurse Next Door franchisor experience.
- Next, 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 to answer any remaining questions you may have surrounding the opportunity.
- Our team of experts will 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.
10. The “Frontline to Franchisee” Program for Caregivers & Medical Professionals
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. They also 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 client’s 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