There are plenty of fields where you can choose to invest in. But one good option is senior care franchises, which offer services in various forms. Some operate from residential homes, while others operate in-home care models.
According to the Population Reference Bureau, the number of seniors in the US is set to double by 2060. That means from 52 million in 2018 to 96 million people over 65 in a few decades.
Aside from being an ideal business prospect, these enterprises have a high community value as they help the elderly. As with barbershop franchises, deciding which venture is the best to invest in can be challenging. After all, there are several businesses in the industry. Before you start your venture, here are the top ten best franchises for seniors to consider.
1. Synergy HomeCare
First, Synergy HomeCare is one of the best senior care franchises to consider. It provides non-medical home care to seniors who need general maintenance. They offer companionship, personal assistance, transportation, live-in services, and light housekeeping. Aside from seniors, Synergy also has caregiver staff for persons with disabilities, new mom care, post-op recovery, and more.
The business has over 400 franchised locations. Interested owners must have a net worth of $150,000 to get started. Furthermore, they also have a total investment cost of up to $170,000.
2. NurseNextDoor
NurseNextDoor is one of the best senior care franchises for sale. They focus on providing in-home care for clients, which includes Alzheimer’s or dementia care, end-of-life care, and general care services. They also put a premium on personalized care, so clients get flexible services.
This business provides staffing, ads, and training support. The franchise fee for this venture is $58,000. NurseNetDoor is a home-based franchise, but the owner must still be involved in daily tasks.
3. Hallmark Homecare
Meanwhile, Hallmark Homecare is another passive senior care franchise to consider. The business connects independent caregivers with seniors to offer in-home care. This system enables their clients to lower the cost of care and have a wider pool of caregivers to choose from.
Prospective franchise owners must have a net worth of $200,000 or over, while one franchise costs around $50,000 to open. This is a semi-absentee franchise opportunity. Finally, Hallmark Homecare offers step-by-step training, monthly webinars, and annual conventions to franchisees to ensure success.
4. 101 Mobility
On the other hand, if you want to operate something that is broader, 101 Mobility is the franchise for you. They offer installed mobility and accessibility units. That is, they install ramps, stairlifts, vertical platform lifts, home elevators, and more.
Because of this, their clientele is broader than most. Because of this, it’s one of the most flexible senior care franchises. The franchise fee starts at $50,000, and the total costs can add up to just under $220,000. Finally, they provide training courses for installations as well as financial and ad support.
5. CarePatrol
Meanwhile, CarePatrol is a leading figure in the senior placement industry. It connects senior clients with their various partner care centers. This makes it easier for families to decide where to rehome their loved ones.
The franchise fee starts at $52,000, and the total investment can total up to $100,000. Furthermore, the business also offers training and ad support to its new partners. Finally, CarePatrol is best for owners who can handle daily operations.
6. Avendelle Assisted Living
Avendelle Assisted Living believes that senior care is best delivered in intimate and homey settings. Their service provides small-scale assisted living spaces in residential neighborhood locations. In this way, the trained staff can better provide one-on-one care to their residents. This is one of the best home care franchises to consider.
Unlike others in this list, Avendelle prefers people who want to open at least three units. A single home has a franchise fee of $40,000, while a 3-home neighborhood package has a $96,000 franchise cost.
7. BrightStar Care
At the same time, BrightStar Care Home is focused on providing intimate assisted living spaces. Each unit consists of 8 to 12 residents in a small living space. They provide medical and non-medical assistance to aging loved ones. While they primarily run their own home center, they do have in-home care services available.
The total home care franchise cost can go up to $3.5 million. This nursing home franchise is not a semi-absentee franchise and cannot be run from home.
8. Right At Home
Meanwhile, Right At Home is another in-home care option that provides living support to seniors. Their in-home services include meal preparation, errand support, transportation, hygiene, and even nursing services. From there, clients can choose a by-the-hour service or an around-the-clock service.
The home care franchise cost adds up to a little over $150,000. Unlike other franchises, Right At Home can’t be run from home. Don’t be fooled, though – it’s still one of the most profitable senior care franchises.
9. HomeWell Care Services
In HomeWell Care Services, they believe a personalized caregiver plan is the best way to serve their clients. That’s why they strive to give options to their senior clients. They offer companion care, primary care, and specialty, depending on your chosen care plan. Furthermore, you can select your frequency of care according to your budget.
Here, the franchise fee costs around $49,500. You’d be expected to shell out $96,000 per unit. Their training program, on the other hand, takes a little over two months. Aside from this, coaching is also provided once the business has opened.
10. A Place At Home
A Place At Home is a non-medical and home-based nursing home franchise. It’s geared toward seniors who want to maintain their homes and have a bit of freedom. The business provides in-home care, helps coordinate medical care with providers, and offers alternative living areas for its clients.
A Place At Home offers marketing and training support to its partners. Interested franchisees must have $50,000 to open a unit. To date, A Place At Home has 24 franchise locations all over the US.