Senior Care Franchise Information and News

Senior Care Services Franchises

The need for senior care services is expanding as the number of aging population rises. The baby boom generation is behind the driving growth of this industry. In line with this, services that enhance the quality of life of the elderly are highly in demand. Everything from In-Home Care, Medical Franchises, and Senior Care Franchises will experience astronomical growth in the next few decades.

By the year 2030, one out of five US residents will be “elderly”. That is, they will be aged 65-84 years old. From 2010 to 2030, the number of people who becomes senior citizen will increase by around 80 percent. Meanwhile, those that will become 85+ year old will increase by an estimated 48 percent (seven million people).

Already, there are 12,000 home healthcare enterprises within the United States. In total, this industry takes care of over 7.5 million people and contributes $40 billion to the economy. Around 62 percent of them are women. Meanwhile, 68 percent are over 65 years old.

Right now, healthcare support jobs including nursing aides and home healthcare workers account for 36 percent of the industry. The revenue for private senior healthcare services is expected to exceed Medicare spending by 2010. The high figure is partly attributed to the clients’ desire to stay in their own homes as they age.

According to the US Department of Labor, healthcare occupations will create 3 million new jobs in ten years; this is significantly more than other industries. By 2016+, employment in home services will expand by over 55 percent. Aspiring entrepreneurs can look to this industry for profits. With this kind of demand, a lot of profits can be generated from senior care services franchises.