Choosing a Territory for Your Home Care Franchise

After you decide to purchase a home care franchise, one of the critical first steps in establishing your business is to select the territory in which you will operate.  A great deal of serious consideration and considerable demographic research goes into making this decision. Consider both the short-term possibilities and the long-term potential for your new franchise within any potential territory.  Once your franchise is established in your chosen territory, you will be devoting a significant amount of time to relationship-building within that local community.

Demographic Criteria to Consider in Selecting Territories

It is natural to lean toward selecting a territory near your own home. Unfortunately, the demographics of your area may not be well-suited for business success. If you live in a community populated primarily by young urban professionals, for example, you will have little to no client base.  Some new franchise owners are drawn to areas of higher income residents, but that choice may yield no clients if the age demographic is younger adults. A well-to-do area does not guarantee clients.

Consider, instead, choosing territories populated by a significant number of older homeowners who have been in their homes for decades, more than likely raising their families there. Such territories may be further away from your residence, but the longer commute is compensated for with a successful and thriving business.  Remember that many of the individuals who will benefit from your home care services have reached the last years of their lives and are now on reduced income with little or no money. It may actually be their adult children who hire you.

Potential franchise owners who thoroughly study territory demographics must learn each one's geographic boundaries, if any rival franchises providing similar services are present, how many residents in the area's population are 65 or older, and what potential sources of client referrals exist in the territory (i.e. medical offices, social services, welfare offices).  You must also be aware that demographics can be misleading and, at times, even incorrect. Check information from multiple sources whenever possible.

Home care franchises exist to provide in-home care for the elderly with everyday tasks, meal preparation, socialization and many other types of activities. This allows seniors to remain independently living at home longer.  An elderly care franchise owner who plans to establish a flourishing home care business will choose a territory with a population large enough to need and hire the company's services.