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Why Start a Health Care Franchise Today?

Guest post by: ray haiber

Article Overview: Provides info about the top reasons why it is a good time to start a health care related franchise business,

Why Start a Health Care Franchise Today?

For a number of reasons there has probably never been a better time to buy and start a health care related franchise business. In this article you will find some of the top and most compelling reasons to consider starting your own health care franchise today. This includes info about some of the emerging social, demographic, and economic trends in the marketplace that bode extremely well for the healthcare industry in general. As well as some of the advantages that franchising can offer to individuals who want to maximize their chances of owning a successful health care services business. Favorable Demographics: With the inevitable aging of the huge baby boomer generation it is estimated by the US Census that by the year 2030 over 70 million Americans will be over the age of 65. This population trend will produce enormous business opportunities in the senior health care services industry for savvy entrepreneurs who position themselves to serve this fast growing age demographic. In particular non-medical and in home care services are expected to be one of the hottest growth segments in health care industry as more seniors choose to decline residing in assisted living facilities for a number of reasons including economic. Fastest Growing Industry: By all estimates the Health care industry overall is still the fastest growing industry in the US and demand for health care services will continue to expand for the foreseeable future. In particular the home health care services industry is expected to grow significantly in the next decade. This bodes well for small and locally owned businesses (including franchise businesses) that are positioned to provide non-medical and in home care service to seniors and the elderly. Recession Resistant Industry: For many reasons, including the fact that health care spending is generally considered a necessary expense and not discretionary, the health care industry is widely regarded as extremely recession resistant, if not recession proof. Thus owning a recession proof business or franchise can obviously provide a small business owner with a level of security and predictability about the future that is very enviable in this day and age. Turnkey & Proven Business: One of the hallmarks and biggest advantages of buying a franchise business is that it allows you to go into business for yourself, but not by yourself - which should ultimately increase your chances of success. Today most established health care franchises can offer a turnkey and proven business model with a track record of success that you can verify in the due diligence process before you sign a franchise agreement. This includes the opportunity to talk with other franchisees in the system to help validate the viability and profitability of the franchiser’s particular business model. Low Start-Up Costs: In general many home health care and assisted living services franchises being offered today are relatively very affordable and have low start up costs. This is particularly true when you compare the costs of opening a more traditional retail brick & mortar type franchise like a fast food restaurant. Some health care services franchises even have the option to be operated form a home-based office which can also help lower your initial start-up costs as well as significantly help reduce your monthly overhead expenses.

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Article Tags: business, care, franchise, heath



Related Forum Posts
Re: Are Economic Recessions Good for Franchising? - All we can do is remain wide awake and pay attention to the ebb and flow. My strategy is to be prepared and go with the flow. There could be some rough times ahead... Interestingly, our business has remained strong. I believe it's because we're in such a tight little niche and we're well positioned to sign jobs nationwide, therefore we're not restricted to location. We also target affluent markets that have higher disposable incomes - this we do locally. Here are some Franchise Categories that could weather a good recession... Health and Personal Care Food services like Subway Debt Collection Tax Preparers & Advisors Any other recession proof franchise opps out there?
Re: Enticing Franchises - Top 9 List - All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers... - [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there. To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1] Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published. I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
how much for a franchise fee? - Dear Colleague There is no easy answer to this question. Things to consider: [list=] The sizeof the Franchise Clent base Expected Turnover Intellectual Property costs (recoup) Number of Franchises Number of employees Original Set up costs Franchise admin costs An example: A franchise that I was involved in setting was to a simple "lawn mowing/home repair" franchise. The Franchise included national/local advertising - preparation of client lists - general admin - central accounting etc The Franchise involved 300-500 clients - and an annual turnover of about $300,000 . The annual franchise fee was $30,000. Hope that this gives you some idea Take care Ian[/list]
Re: Franchise Surveys - Another good tool to researching a franchise is to speak with their existing franchisees. This contact information is included in most Franchise Disclosure Documents. In order to get a Franchise Disclosure Document or FDD as it is often referred to, you will have to complete a basic franchise application. The franchisor will then usually provide you with the FDD at that time. Included in that book of information is a list of the existing franchisees, the contract, the investment information etc... This information is required by Federal Law to be disclosed to your prior to making a purchase. So be sure to do your research and start with the Franchise Documents to get the initial information.


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