Home care companies can help vulnerable people live in their own properties for longer than they would otherwise be able to. Running your own business in this sector is incredibly rewarding, so today we’re finding out whether Home Instead franchises.
By 2039, there will be almost 10 million people aged 75 and over living in the UK (ONS). In 2014, there were just 5.2 million people in that age group, so the figure will have jumped by over 90 percent if the ONS predictions are correct.
With over-60s now outnumbering teenagers, the demand for elderly care businesses is set to rise dramatically in the coming years. As a result, starting a care business is not only a useful way to contribute to society, but also a great choice if you want to generate a reliable income.
Does Home Instead franchise?
Yes, the home care business is searching for investors across the UK to set up branches under its recognisable branding. If you enjoy looking after others and helping the community, becoming a Home Instead franchise owner could be the ideal business opportunity for you.
History of Home Instead
Home Instead was launched in 1994 after Paul and Lori Hogan were unable to find a business offering personalised care for Paul’s grandmother. The husband-and-wife team set about developing the concept for Home Instead Senior Care with the aim of making sure Grandma Manhart was able to continue living in her home.
The story ends happily: Paul’s grandmother was able to live for many more years than expected, and Paul and Lori established a successful business.
Over the years, the pair developed their business model to provide specialised, flexible care services for the elderly. They put family values at the heart of their company, which franchisees still uphold to this day.
Home Instead’s services include a wide range of domestic assistance, from helping people get showered and dressed to keeping them company. Plus, every caregiver is matched to the individual to make sure they get on well.
Home Instead also supports people living with life-limiting conditions such as dementia and Parkinson’s. Clients suffering with long-term illnesses can stay in the comfort of their own home and loved ones can rest assured they’re receiving the best care.
After more than 25 years in business, Home Instead now has a network of over 200 franchise units across the UK. Last year, its 13,000-strong workforce delivered more than six million hours of quality care to over 21,000 clients.
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Starting a Home Instead franchise unit
To become a successful business owner with Home Instead, you’ll need to be committed to developing a profitable franchise unit and making a difference to the lives of others. You should also have solid communication skills and a compassionate and approachable nature.
The good news is, you don’t need care experience to run a Home Instead franchise unit - but you will need to be business-minded and highly ambitious.
Becoming a Home Instead franchisee:
Specialising in non-medical services for elderly people, your senior care franchise unit will provide everything from companionship, domestic help and local transportation to personal care and help with medication.
You’ll run your business from a professional office space and start building relationships with local GPs, charities and district nurses as soon as you get up and running. Your role will be to lead and manage the franchise unit, making sure day-to-day operations always run smoothly and efficiently.
As your Home Instead business grows, you’ll expand your office team and hire a care manager to take over operations, leaving you to focus on leading the business. Your growing management team will then train and recruit your very important CAREGivers, who will be tasked with meeting and interacting with your clients. Having well-trained, compassionate and professional employees is key to every successful Home Instead franchise business.
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How much you need to invest:
Prospective investors should be prepared to pay around £41,000 as a franchise fee, as well as ongoing royalties of 6.5 percent, excluding VAT. It’s difficult to say exactly how much it will cost to set up a Home Instead franchise unit from scratch. However, the business suggests franchisees will need to part with between £90,000 and £100,000 in total.
Home Instead has established partnerships with high street banks to help investors get the funding they need. HSBC, NatWest and Lloyds may be happy to contribute up to 70 percent of the total investment as a business loan.
What you get for your investment:
Franchisees can rely on a high-quality support scheme when they join Home Instead. The franchise has a dedicated academy, where investors can view and book online and classroom-based training events. The facility also has other learning resources, including PDF documents, videos, interactive presentations and webinars.
All investors will be given extensive training across a number of key business areas, from admin and marketing to care management and leadership. Home Instead also provides ongoing IT support and organises regular events for franchisees to meet and share insight.
Become a franchisee in the home care sector
If you’re interested in starting an elderly care business, you could join the Home Instead franchise. Just visit its website to find out more about getting involved.
If this business opportunity isn’t quite right for you, there are plenty of other options out there. View our full selection of home care franchises or take a look at openings in the wider personal services sector. It covers everything from childcare and tutoring to home improvement, photography and storage.
If you’d like to take the chance to build on your knowledge, why not browse our recent articles? We create informative guides on every aspect of the business world to support budding entrepreneurs and seasoned franchisors alike as they grow their businesses.
The Editorial Team, Point Franchise ©