Start-Up Costs Associated with a Home Care Franchise

According to Forbes.com, the from-the-ground-up complete starting costs of an assisted living facility for elderly care stands at $11 million for approximately 80 rooms. Since very few people seeking to start their own business have the financial ability to build such a facility without bank financing, equity partners or a combination of the two, there are less expensive business models to consider. A much more financially reasonable alternative for a new business entrepreneur is to begin an in-home senior care business.

The Cost of a Non-Medical In-Home Care Franchise

The purpose of an in-home care company is to provide professional staff members to work with the clients in their own homes, eliminating the need for a building in which to house the business and all the costs that entails. Purchasing a franchise and launching a home care business typically requires a financial investment of between $100,000 and $150,000. That is a much more affordable goal for an individual seeking to be a business owner. It is also recession proof industry for the next twenty or thirty years. As all the country's Baby Boomers continue to age, the demographics of the population age continue to shift. People who are 65 and older will account for 20 percent of the U.S. population by 2040 (instead of their 13 percent currently).  If your business goal is to help seniors with their home care needs, your potential customer base will continue to grow in the years ahead.

The Purpose of Home Care Franchises

The cost of a franchise for elderly care varies according to the services your company will provide. Most provide non-medical services that are designed to offer assistance with the client's daily living tasks.  The everyday commonplace activities and tasks upon which non-medical in-home care focuses are chosen in consultation with the client and designed around his or her specific need.  These tasks typically fall into three categories:

• Home helper services
• Companionship services
• Personal care services

These may include help with dressing and bathing, preparing and cleaning up after meals, making grocery lists and shopping, picking up prescriptions, helping the client water plants and care for pets, playing cards and visiting, running errands and providing companionship. If your goal in starting a business is to help seniors, a non-medical in-home service is a great choice, as the home care industry is booming, and you’ll be serving a vital aspect of your community through care and compassion.