Think Hard Before You Buy A Senior Care Franchise

There's a reason that senior care franchise opportunities are so popular these days. Can you guess what is is?

In this case, there are actually two reasons; math and demographics.

According to the U.S. Census Bureau's "middle series" projections, "the elderly population will more than double between now and the year 2050, to 80 million. By that year, as many as 1 in 5 Americans could be elderly. Most of this growth should occur between 2010 and 2030, when the "baby boom" generation enters their elderly years. During that period, the number of elderly will grow by an average of 2.8 percent annually."

Here's another way to think about it.

Between now and 2030, the remainder of the baby-boomer generation will be entering their senior years. And they're going to need a lot of care. Both medical and non-medical. Interested?

A Critical Fact About Senior Care Businesses

If you're looking to become the owner of a franchise business, and senior care is one of the sectors of franchising you're investigating, there's something you need to know. And it may surprise you.

If you can't sell, you shouldn’t look into senior care.

To clarify, if you're not willing to call on potential referral sources 4 out of 5 days a week, the senior care business is not for you.

"But wait Mr. Franchise King. I thought senior care was a 'helping' type of business. I'm interested in senior care because I want to improve the lives of seniors and their family members. It's really important to me that I'm able to that. I didn't know I would have to go out and sell!"

How To Get Clients

Senior care is a business. Stay with me.

First, after careful research, you choose a specific senior care franchise to buy.

Next, you sign your franchise agreement and send in your check for the upfront franchise fee.

Following that, you choose a site to open your business and build it out.

Then, you hire an office manager along with clerical help.

Lastly, you wait for clients to come in.

No. You. Don't.

That's because clients aren’t going to be lining up outside your door at 8:30 in the morning, Monday through Friday, curious to see what you’re offering. The senior care business doesn’t work like that. You have to find them.

The way you do it is by building a referral network. You need to call on:

• Estate Attorney’s

• Elder Care Attorney’s

• Insurance Agents

• Hospitals

• Physicians

• Nursing Homes

• Senior Living Communities

In short, you’ll be trying to sell your senior care services. You’ll be asking for referrals.

You need to convince them to refer seniors and their family members to you.

But what you're really doing is selling yourself. Your brand. And you’ll be competing with other senior care providers, including other franchises in the area along with independent senior care services providers.

What Do You Think?

Knowing what you know about the "selling" part of senior care franchise ownership, are you still interested in exploring this segment of franchising?

If not, don't click away yet. There's something I didn't tell you.

Depending on the senior care franchise you choose, you may be able to hire a seasoned salesperson to call on prospective referral sources. In that case, your role would be more of an operational and management one.

How does that sound?