Ever wanted to know what franchise industries are poised for future growth?
According to a recent article in the Wall Street Journal, look no further than America's aging population for clues. The U.S. Department of Health and Human Services’ Administration for Community Living studies show people 65 and older represented 14.5% of the population in the year 2014, but expected to grow to be 21.7% of the population by 2040.
Caring for our aging population is not just about nursing homes anymore. Advances in medicine and technology are allowing our elderly to live longer and more fulfilling lives, but at times they may still need some help. The market for care centered on seniors such as adult day care, home health services and senior home transition services has never been higher.
There has been a 6.6% annual growth rate for the senior home-care industry in the past three years, according to FRANdata. Some senior care service providers even offer assistance with the elderly in running errands, non-medical care or even just keeping someone company for a few hours a day. It’s anything but just a nursing home anymore.
If you'd like to learn how to identify the best franchises in the senior care space to meet your specific goals, talents, budget and signature skills, request our Roadmap to Success guide and set up a free consultation today.
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