Senior Home Care Trends

Starting a new business in any economy is a big decision. COVID-19 has stalled a lot of people’s plans of taking the plunge into business ownership. But if you’re looking to start your own senior home care franchise, the senior home care trends suggest now is the time! The 2020 Census now estimates that the Baby Boomer generation amounts to about 73 million seniors in the US. This huge wave of seniors is currently being referred to as a “grey tsunami.”

Senior home care trends show that the demand for in-home care has been increasing over the last ten years. In fact, it will continue to climb as more and more of those 73 million seniors decide to age in place instead of finding an assisted living facility. It’s clear that COVID-19 has changed a lot of things in our country and will continue to shape how businesses operate moving forward. With the virus shining a light on assisted living facilities and nursing homes and in some cases spotlighting the squalid conditions and neglect, many families are thinking twice about spending a fortune to put their loved one in what have quickly become viral hotspots.

The current events surrounding senior living facilities all over the country add to the senior home care trends showing positive and stable growth in the senior home care space. COVID-19 has made senior welfare and senior care in general major issues for state and local governments. Aging in place is the safest option for seniors right now, both mentally and physically.

Franchising During a Pandemic

What we have seen over the last few months is how the senior home care industry is stable and more recession-resistant than other industries. Retail franchises, gym franchises, and food franchises are all being negatively impacted by the pandemic and the current economic downturn. Senior home care trends at the very worst will be neutral, meaning business will continue to function regardless of the economy. That alone is a reason to look more closely at the senior home care industry and your options to finance your own franchise.

The pandemic and stay-at-home orders have put people out of work and closed businesses. Many things are now tougher for the average American. Recognizing the stability of a home care franchise and the our recession-resistant industry should make the decision to start your own business an easy one. Franchising is a great way to go into business for yourself but not by yourself. Having a successful system in place, a knowledgeable guide, and people supporting you every step of the way allows you to confidently invest in yourself and your goals.

As we continue to monitor the senior home care trends in the US over the next year or so, remember that franchises can be successful in any economy. Seniors are going to need quality in-home care, pandemic or no pandemic, good economy or bad economy. So, continue to explore the senior home care space. Consider how choosing to start your own 2nd Family franchise can help you create a successful future and build a legacy of serving our country’s seniors.