If you’d love to help the people in your local community live better, more independent lives each and every working day, you’d probably love running a home care franchise. Home care is a growing sector of industry, and there are many different franchise businesses operating in this sector. Read on, and discover the five biggest benefits of starting your own franchise in the field of home care.
The home care industry is a giant sub-sector of healthcare in the UK, employing over 800,000 and providing domiciliary care services to around a million people [homecare.co.uk]. If you’d like to make a career change with a home care franchise, there’s never been a better time, and if you keep reading, you’ll soon see why.
Why start a caregiving franchise in 2022?
Home care is the definition of a growth industry, and the UK’s aging population needs more care in higher numbers than ever before. There are so many different home care franchise networks to choose from, from Acacia Homecare to Walfinch, which means you’re sure to find a company that matches your values, financial means and professional goals if you look hard enough.
The percentage of the world population aged 65 or over increased from 6% in 1990 to 9% in 2019, and is projected to rise a further 16% by 2050 [United Nations]. Plus, since care services are so essential, starting a caregiving franchise of this nature equals starting a business that’s largely recession-proof - a major consideration for many in the wake of COVID’s tumultuous impact on each and every industry.
The UK domiciliary care sector has grown exponentially in recent years, and this only promises to increase over the coming years. According to the Lancet, it is estimated that by 2035, 200,000 more people will be classed as “high-dependency” and will be reliant on domiciliary care. That means that now is the best time to establish a reputable home care company.
- Apollo Care
>> Read more:
The 5 advantages of making an investment in a home care business
1. You’ll have the opportunity to really help people
If you choose to invest with one of the top home care franchises in the UK, you’ll be supporting your local community and your patients on a daily basis and helping to improve people’s standards of living. If truly helping others - even if it might be from a managerial position - appeals, then you might find your calling running a home care business.
By providing [domiciliary care] we allow our clients to retain the independence associated with living in their own homes. This results in a quality of life and wellbeing that surpasses that achieved by most residential care facilities.
2. You’ll have plenty of room in this vast sector to find the right franchise fit
As mentioned above, there are so many different options available to you in the home care field that you’re sure to find something which works for you. A smaller, scalable investment might work best, for instance, if you’re looking to begin your franchising journey with some hands-on care provision of your own, or you might want to skip straight to a managerial role with a larger investment and instead manage a team of trained carers. Essentially: The industry is very large, and your options are expanded by this fact.
3. You’ll find there are low-cost investment options readily available
Further to the point above, you’ll soon see during your research into a potential investment that many of the opportunities available in home care come at a lower franchise investment cost than average, which was £42,200 as of 2018 [British Franchise Association]. Here are just a few cost examples to give you a sense of the range:
- Apollo Care - You can become an Apollo Care franchisee for a minimum initial investment of £12,500, with franchise fees of £25,000.
- Tezlom - You can become a Tezlom franchisee for a minimum initial investment of £25,000, with franchise fees of £25,000 and a total investment cost of £60,000.
- Blossom Home Care - You can become a Blossom Home Care franchisee for a minimum initial investment of £35,000, with franchise fees of £37,500 and a total investment cost of £70,000.
4. You’ll be taking less risk than you would be going it alone
Entering a saturated industry can be dangerous or risky when you’re going it alone. There are already so many established and successful home care businesses in the space that it would be challenging to make your start-up stand out. Compare this to franchising, and it’s easy to see the difference. For one, starting a franchise comes with less liability and risk. For two, starting a franchise comes with an existing brand name and presence. For three, statistics show that only around 1% of franchise businesses close due to commercial failure [British Franchise Association], compared to a much higher figure for start-ups.
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5. You’ll receive comprehensive franchisor training and support
Unlike most other routes into the industry, you could start a home care franchise with a very limited understanding/experience level and still find yourself able to attain success within it. This is thanks to the comprehensive franchise package that any good franchisor should provide, complete with plenty of training, support and advice that equips franchisees of any experience level for success. To provide a singular example that expresses the bigger picture, Heritage Healthcare provides all its franchisees with:
- A 10-day induction course
- A marketing support service and PR launch with sales literature and corporate stationery provided
- Business plan creation support
- Site sourcing support
- Staff induction packs (including six uniforms, IDs, badges, PPE and alarm circuit break)
- Ongoing franchisor support with care, operations, financing, etc.
Starting running your own business in the home care sector today
You should have a stronger sense, after reading this article, of whether a home care franchise is the right type of franchise for your investment. If you’re still on the fence, stay on Point Franchise and continue your research into the wider healthcare field. Discover how to start your own healthcare franchise, and determine how to choose the healthcare franchise that’s perfect for you.
Lily Sweeney, Point Franchise ©