According to the Franchise Business Review, senior care and home care may be emerging as one of the most profitable areas in franchising. Even better, the field also boasts some of the highest owner satisfaction figures.
But why are these businesses doing so well? For one thing, the population is aging. Baby boomers are beginning to retire, and many of them are going to need some kind of assistance. That number is only expected to increase. What’s different about baby boomers, though, is the fact that they don’t want to do old age the way their parents did. They want to keep their independence as long as possible, and many turn to assisted living or in-home care as an alternative to skilled care facilities. It’s also much more economical to spend a bit on part-time help instead of spending a small fortune on 24/7 care in a nursing home. Companies like Right at Home In-Home Care Franchise lead the way, and many are expanding rapidly to meet the demands of a changing population.
But what about job satisfaction? How can you explain that? After all, in an industry with so many older clients, you might expect the work to be depressing. What franchise owners report, though, is that the work is much more rewarding than a lot of other jobs. The owners typically work in their businesses rather than owning chains of franchises and spending minimal time with the workers. They get to see the difference their help makes, and how it allows people to feel more independent and stay in their own homes.
Their employees might also account for some of the satisfaction. Many people working in home-care have chosen it as their career, rather than as a stopping point on the way to a career (as is often the case with restaurant and retail work). They’re also people who have willingly chosen a career that helps other people, which speaks volumes about their overall compassion. Working with good, kind-hearted people is enough to increase anyone’s career satisfaction.
If you’re undecided on a franchise type, give senior care a chance before ruling it out. It’s not for everyone, but it might be for you.