In the last few years, there has been a shift from traditional nursing homes and assisted living facilities toward home health care providers. For entrepreneurs with their finger on the pulse, now is the perfect time to invest in the fast growing senior care industry.
But before signing papers and jumping into the deep end, it’s a good idea to do your research.
Interested in learning more about joining a home healthcare franchise system? We’re here to answer some common questions around the home health care business model and give you insight into what it means to provide home care services.
- Do you need to be an expert to get into the senior care franchise industry?
- Do senior care franchises have start up costs?
- Do franchise owners receive business support?
- Are seniors the only ones helped by home care?
- Why do entrepreneurs start senior care franchises?
1. Do you need to be an expert to get into the senior care franchise industry?
Delivering high-quality home health care is a big responsibility. Unlike other franchise business models (like fast food chains or gyms) the care you and your employees provide is directly linked to people’s overall health and wellness. So it’s important to do your research and only hire top tier senior care talent.
But owning a healthcare franchise is different from working for one. As the franchise business owner, you won’t need to have a registered nurse qualification, have any senior medical expertise, or know how to operate medical equipment.
Your role will be focused on running day to day business operations, not providing skilled nursing care to senior patients.
At Nurse Next Door, many of our Franchise Partners aren’t medical professionals. Some do come from medical backgrounds, but some are accountants and business people. What’s important is that you’re highly motivated, prefer structure and systems, and that you’re passionate about the senior care industry. You can always hire more experts later.
2. Do senior care franchises have start up costs?
Unlike starting your own business from scratch, opening a healthcare franchise comes with standard investment costs. You can expect to pay an initial investment fee or upfront payment as well as recurring royalty fees. This will all be outlined in your franchise disclosure document.
Fees may come with the territory—but for good reason. By paying a few fees upfront, you get the ultimate business advantage: a proven franchise formula that other franchisees have used to see success (sometimes leading to multiple revenue streams).
Let’s compare this to starting your own business. When you become a solo business owner, there are costs involved. You have to finance your brand name, build a website, create marketing campaigns, the list goes on.
On the other hand, when you own a franchise, an upfront investment and a small percentage of monthly revenues grants you admission into already established programs and opportunities that could take years to develop on your own.
Nurse Next Door gives Franchise Partners time to build the brand in their community, establish professional relationships, and focus on providing exceptional customer service.
3. Do franchise owners receive business support?
One of the biggest reasons entrepreneurs choose to invest in franchises is the built in support system. Partnering with an established franchise brand ensures you have all the brand assets and training that can make your business a success.
This can include:
- The franchise name, brand, and trademarks
- Ongoing coaching, training and support
- In-house marketing collateral
- Peer networking opportunities.
No good franchisor will ever throw you to the wolves. Once you’re onboarded, new Nurse Next Door Franchise Partners get access to a business coach and several weeks’ worth of training materials to prepare you for a full week of training at HeartQuarters (our Vancouver-based head office).
In-person training includes a day spent with a local Nurse Next Door franchise, role-playing, Q&As, social events, and more. Emphasizing exceptional customer service, you’ll learn how other franchise owners go the extra mile for their clients, keeping clients and their loved ones happy and healthy.
When you finish in-person training and start building your franchise, you’ll continue to have regular calls with your business coach and get relevant resources to help you get your franchise off to a strong start.
24/7 Marketing and Customer Service Support
At Nurse Next Door, Franchise Partners can contact the Care Services Center: an incredible resource of customer service staff who will schedule appointments and help seniors for you.
Designed to get your phone to ring, the Nurse Next Door Intakes Team takes customer inquiry calls around the clock. If you’re running senior care services by yourself, our team can take overwhelming scheduling tasks off your plate so you can focus on day to day business needs
With 200+ locations across three countries, Nurse Next Door’s centralized system provides insights from the data and analytics we collect. This can be extremely helpful for first time franchise owners trying to grow their business.
Like an educational, inspiring, and fun family reunion, many major franchise brands host an annual conference—ourselves included.
During your initial training week, you’ll learn everything about the home care and meet other Partners and staff.
Once a year, you’ll join up with the same people and many more for a few days of speakers, workshops and social events. Nurse Next Door Franchise Partners enjoy coming to the annual conference because it helps them learn how to better serve their senior communities and run better businesses.
Check out the video below to see what our annual conferences look like.
4. Are seniors the only ones helped by home care?
Baby boomers are a growing demographic in North America. In fact, the number of seniors in the U.S. alone is expected to grow to almost 90 million by 2050. From a business standpoint, the home care industry has a lot of growth potential, especially in more rural areas where people tend to be older than their city counterparts.
While it’s clear that senior care is a growth industry, anyone can take advantage of home care services. As a franchise owner, you can offer non medical services and personalized care to broaden your customer base:
Post Surgery Care
Surgery can take a toll on bodies of any age. Having a skilled caretaker to help you through the healing process, monitor symptoms, and take care of you in the comfort of your own home can speed up recovery time and reduce patient anxiety.
After active duty, veterans may have ongoing health care needs, but many resist moving to assisted living facilities. Home health care workers can help veterans of any age with various physical and mental health conditions, personal care and personal hygiene, help them stay mobile, and allow them to re-enter the community with confidence.
Skilled care providers can offer non medical assistance and personal care. Loneliness is on the rise in all adult age groups in North America. Companionship care services can help mitigate the depression some people face, helping them regain a positive view on life. Caregivers can aid health and wellness through at-home activities, social interaction, and taking them outside for physical exercise.
5. Why do entrepreneurs start senior care franchises?
There are so many reasons entrepreneurs go into the franchise business. It’s a scalable business model in a lively industry, with lots of potential for business growth. But one big reason entrepreneurs choose to partner with us is the sense of purpose that leading a homecare franchise can bring.
It’s easy to see why mission-oriented entrepreneurs are choosing to own senior care businesses. Home care is people business. These services empower seniors to remain in their homes, with their family, and in their communities for as long as possible, and there’s no better feeling than knowing the work you do is helping people and their families.
At the end of the day, having a positive impact in your community and making a difference in people’s lives is the best reward.
- 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