With the strong growth of the home care industry and increasing demand for its services, it is understandable that a growing number of entrepreneurs might be interested in finding a home care business for sale. There are a lot of options to consider. Before investing in an independent home care business or a home care franchise, here are five important questions to ask.
Is there room in the home care market?
There are more than 452,000 home care providers in the U.S., according to IBISWorld. Don’t let that number scare you. The home care market is competitive, but it is by no means saturated. Demand for home care will only continue to grow for decades to come, and there’s a huge opportunity to build a quality home care business by aligning yourself with a home care business for sale that differentiates itself from the competition.
What is the outlook for growth in the home care market?
According to the US Administration on Aging, the senior population is expected to nearly double in the next 20 years. The fastest-growing segment of our population is 85 and older. According to AARP, most seniors want to age in their own homes for as long as possible. Additionally, the cost of non-medical home care is considerably less than traditional institutional care, meaning more people will choose home care when possible.
Home care is a recession-resistant business. Americans will continue to get older and need help regardless of the strength of the economy.
Do you need experience in the industry to operate a home care business for sale?
The good news is you do not need any formal training or experience to own and operate a business in the home care industry. However, if you are seriously looking a home care business for sale – whether a franchise or an independent agency – it is helpful to have some leadership or management experience. These skills will help you lead and manage the employees who do have the necessary experience necessary to make a home care business successful.
Why should I consider buying a home care franchise instead of an independent business?
The list of things needed to start a home care business can be daunting. Opening an independent home care will take longer to get started. With no one to guide you, you will need to navigate the legal aspects of the industry such as licenses and permits and any state rules and regulations on your own. You will also be expected to develop policies and procedures, investigate the necessary business software needed to run the business, figure out how to hire staff, and market to potential clients.
If you invest in a franchise, it is like having a GPS for your business. You will have a roadmap to help guide you to success – including key business assets like an established brand, marketing assistance, legal aid, and invaluable ongoing support should you need additional direction.
How could I find success by partnering with CareBuilders at Home franchise?
CareBuilders at Home has that “it” factor needed to standout in the pool of home care franchises. We provide some of the most extensive new owner training in the industry, as well as marketing support, national advertising, and ongoing operational support. As a franchise partner with CareBuilders at Home, you’ll benefit from diverse internal resources to assist you with all aspects of your business from risk management, quality improvement, human resources, operations, IT, sales, business development, and much more.
One of the major differentiators is the back-office assistance enjoyed by franchise owners. CareBuilders at Home takes care of payroll and taxes as well as billing and collections from clients – no other home care franchise provides this critical assistance. This benefit allows franchises to reduce the costs of operating their businesses and allows them to focus on growth.
If you’re interested in hearing more, contact us today so we can answer any questions you have about our home care business for sale.
