Businesses for Boomers: Senior Care Franchises
June 8, 2008 by Jean Murray
When my mother was in an “independent” living facility a few years ago, she was in need of someone to help her get to and from doctor appointments, and help her take medications. (Her children were not living in the area.) The facility suggested we call Comfort Keepers. They sent Jane, who was fantastic. She talked my mother into paying for the service (my mother was convinced that she didn’t need anyone), and within a week my mother thought she was wonderful.
I discovered that there are a number of these “senior service” franchises around. If you are good with elderly people (and they can be as challenging as young children), and you have the ability to find and train others to be helpers, this might be a good type of franchise to consider.
The initial investment is from $50,000 to over $100,000, depending upon the franchise and the exclusive territory. That’s not bad; you really don’t have a huge amount of assets to buy. The types of services you provide are transportation, helping with medication and errands, and help with paying bills and keeping the person’s checkbook. What you do for each person depends upon their needs and the family’s wishes.
The downside to this type of franchise, from what I see, is the emotional cost and the almost 24/7 nature of the business. You have clients (either the seniors or their families) calling you all the time, and you may have some sleepless nights. Emergencies can come up, and you pretty much have to go, or at least talk to the client.
Other than that, a senior care franchise would be a terrific way to be of service to elderly people and give some peace of mind to their families.
Image source: newscom.com
Don’t forget my “50 things to do at 50-something” contest - comment and put yourself in the running for a $30 book gift certificate. Final comments must be posted by June 20.
Senior Care is an interesting business opportunity. The national radio program Franchise Interviews did a segment in January 2008 with David Ritterling of Visiting Angels franchise opportunity. The interview is available for download at http://gofranchise.com/interviews_jan08.htm. Here is the summary: “Visiting Angels® is established with over 300 senior home care franchises (non-medical) in 46 states across the United States. They advertise and market nationally for homecare client leads and distribute thousands of home care client leads each month to their franchisees. Visiting Angels has been ranked by Entrepreneur Magazine as one of the fastest growing franchises in America.”