Non-medical home care is currently one of the hottest franchise sectors. There are more than 11,000 home care agencies in the U.S. One reason they are so popular – non-medical home care business profits. According to statistics, there’s a $5 billion share of the home care franchise market to be had.
Demand is the major driver behind non-medical home care franchise expenditures in the country. Reasons include the aging population, the realization by the medical community that home care can help reduce hospital readmissions, and the overall desire from older Americans to remain in their homes rather than move into an assisted-living community.
Every day, an estimated 10,000 people turn 65, which makes them prime candidates for services offered by a non-medical home care franchise. That’s about seven new customers per minute!
Seniors are not the only clientele served by the non-medical home care franchises. Assistance with daily activities is provided to people under 65 who may live with chronic conditions such as multiple sclerosis, as well as to those with learning or physical disabilities. Care, albeit temporary, is also sought after by those who are recovering from surgery, illness, or injury.
More Non-Medical Home Care Business Profit Factors
Aside from the demand and growing market, there are many other factors that impact non-medical home care business profits, including low upfront costs and great returns. For example, CareBuilders at Home has one of the lowest investments, ranging between $115,000 to $169,000. Compare this to the nearly $500,000 investment needed to open a food or retail franchise! However, unlike a restaurant or retail franchise that people only use when the mood strikes, home care is an essential service in high demand. This is the reason why the return on investment in the home care industry is historically higher than other industries.
In addition to any financial rewards gained, the emotional ROI in the home care industry is immeasurable.
Great Returns and Low Overhead
The non-medical home care franchise model offers a higher return on investment than many other franchise concepts. This is boosted by the relatively low upfront investment. The territory sizes for home care franchises are generally large, which supports high-volume sales. The overhead costs for this type of franchise are also low. Non-medical home care franchises do not carry large inventory, and the business can be run out of a small office space.
CareBuilders at Home Advantage
While they’ll face the usual expenses such as insurance, rent, and office supplies, people who decide to invest in a CareBuilders at Home franchise save money on one particular expense – the need to hire a dedicated person to handle the accounting and billing. CareBuilders at Home provides this service as part of the investment. This includes tasks like payroll, collections, HR management, payroll, IT and support. No other home care franchise provides this level of back-office support. This perk allows franchise owners to focus on customer service, marketing, and building the business.
Exactly how much non-medical home care business profit you stand to make is a difficult question to answer. There are many things that can influence potential earnings – but the biggest factor is the brand you invest in.
Contact CareBuilders at Home today to learn about the unique opportunity we provide to help you get started in this lucrative industry.
