The enormous generation that is referred to as the baby boomers was the largest generation ever born in the U.S. That generation has meant an aging current U.S. population and a boom in senior care franchises. The increasing life expectancy is also adding to the number of seniors and for the need for senior care services. In fact, seniors are the fastest-growing age demographic all over the world. About 12 percent of the U.S. population is 65 or older, providing an enormous customer pool for the businesses that cater to that age group.
Senior care franchises aren’t likely to slow down, either. The number of seniors is increasing every year and is projected to continue increasing through at least 2050. That makes a franchise that focuses on seniors part of a growth industry that will always be in demand.
As seniors get older, they have all new needs that senior franchises can profit from fulfilling. Some of these needs include the need for seniors to stay in their homes with some assistance, special health care needs and being able to use assisted living facilities that care for those who can no longer live independently. All of these franchise types provide valuable services that are increasingly needed by our parents, grandparents and great grandparents.
Some senior care franchises provide medical help to those who need it, but not all of these businesses are medical in nature. Some simply provide useful services that seniors need to keep their independence or to make life a little easier. Personal care and companion services to seniors who need a little help around the house are becoming popular as more and more people want to make sure that their parents safe and comfortable in their homes.
The number of retirees is growing each year, with the 65+ age range growing by more than 300,000 a year. Worldwide, there will be almost a billion seniors in the world by 2030. There are now almost 40 million people in that age range in the U.S., providing an enormous market for senior care franchises. There is room for these business types in virtually every community in the country, from large urban areas to the smallest rural town.
Because of the great demand for these types of services, the supply of senior care businesses has not yet met the demand. Many areas are finding that their growing senior populations have put a strain on the few local resources available to them. This makes now the perfect time to get involved with senior care franchises.
Senior franchise businesses often focus on particular aspects of senior care that have proven to be needed in a number of senior households. Different franchises cater to different senior needs, with some providing medical staff for seniors who need constant care in their homes. Other businesses provide care just a few hours a day or provide on-call services to seniors who need special care. Entrepreneurs have an array of franchise options to choose from if they want to enter the much-needed senior care industry.