By 2050, America’s 65-and-over population is expected to double from 48 million to 88 million.
While global life expectancy is increasing due to better hygiene, healthcare, lifestyles, and medications, 85% of aging adults live with a chronic health condition that makes independent living challenging.
The goal of the in-home senior care industry is to increase the quality of life for aging adults and allow them to retain a sense of independence as they age within the comfort of their own homes.
Here are three things to know about the in-home senior care industry.
1. The In-Home Care Industry is Growing
As the population of adults over 65 increases, the number of Americans needing in-home senior care is expected to rise to 95 million by 2060.
With this expanding population, the need for quality in-home senior care that families can trust has never been greater. By 2026, employment in the in-home senior care industry is expected to grow by 54%.
Not only is aging at home preferred by 90% of people over 65, but in-home care is also now more affordable than it has been in the past compared to assisted living facilities.
2. The In-Home Care Industry is Rooted in Compassion
Bringing a professional caregiver into your home is a big decision, but one that can lead to healthier aging, increased independence, and peace of mind for family members.
In-home senior care ensures that people aging within their own homes can continue their daily routines, stay involved in their communities, and experience meaningful connections with additional assistance.
Not only is social isolation associated with a heightened risk of mental and physical health complications, but it can also be a difficult adjustment for aging adults when they can no longer live alone.
In-home senior caregivers provide companionship, personal care help, meal preparation, transportation services, assistance with household duties, and more, depending on the individual needs of those in need of care.
3. The In-Home Care Business Model is Perfect for Franchising
Non-medical in-home senior care is one of the fastest-growing franchise industries in the United States, and franchised companies typically experience more growth than non-franchised companies.
Regardless of economic factors that affect other industries, people will always need quality care for their loved ones that they can trust.
Not only does owning an in-home senior care franchise impact the health and well-being of those in your care, but it is also incredibly rewarding with a small barrier to entry and a continued system of support from the franchise.
HomeSpark In-Home Senior Care
Our mission at HomeSpark is to care for people through compassionate in-home care that families can rely on. We offer non-medical in-home care and respite care to give back to those who have served our families, community, and country.
We believe in the importance of caring for people, and that care extends to our franchise owners and employees as well.
If you are interested in opening a franchise with HomeSpark, you can learn more about our franchise support or contact our Franchise Development Team today.