We live in a country with an aging population, many of whom may soon need the services of a retirement home franchise to help place them in a suitable living situation. It’s a reality that can make franchise ownership an intelligent option for many business-minded people seeking leadership roles.
Becoming a retirement home franchise owner today can place you in an industry with potential and connect you with an essential service. Here’s why this could be the right time to make a move.
When the prospective owner starts looking into different industries, one of the decisive aspects they consider is the market. Not just today’s market but what to expect in five or ten years.
Having an eye for growth can help future owners pick a business positioned for the future. And with current aging trends in this country being what they are, that’s what a retirement home franchise can offer them.
A retirement home franchise owner can expect the market for their services to grow in the years ahead. One in six people in the U.S. are now 65 or older, which is expected to increase in the years ahead.
That can help an owner establish a baseline revenue stream they can count on and give them confidence in the future as they work to build the brand and expand their business.
The substantial and continuing expansion of the over-65 market in the coming years has implications beyond the sheer number of potential clients. It's also aided in the rise of the industry that works with the retirement home franchise.
The assisted-living facility industry has grown alongside the population and is poised to keep up that expansion as more people require their services.
The field has been growing for years and has enjoyed almost 3% growth over the past five years. Even a global pandemic couldn’t derail the industry — it emerged on the other side more vital than ever.
The next five years are expected to see additional development across the industry as more boomers require assistance with daily tasks and seek qualified help. It’s a key reason the business has become a draw for growth-minded owners.
An expanding market brings with it new demands and expectations, as well. Finding an appropriate living circumstance is one of the most personal and intimate needs a person can have, and they naturally want to be placed where they best fit.
That pressure to deliver quality results has spurred the retirement home franchise to innovation and stimulated the rise of more specialized facilities, places that are designed to work well for people with specific issues and provide them with a care level that suits their issues.
Today, a wide range of placement options are available for every client. From the Alzheimer’s memory center to the traditional care facility to the independent retirement living franchise, the aim is to create the best living environment for each person and their needs.
The modern assisted-living business is centered on helping clients connect with these facilities. They act as the client advocate, aid their search, and use their expertise and industry know-how to place every client where they can get quality care and live a full life.
The retirement home franchise owner is more than a business leader. They become the voice of their clients and work on their behalf at all times.
That approach is built into the structure of the industry and has guided its development from a business that works with one institution at a time into a multi-regional power that operates as part of a vast network of facilities, all combining their efforts to provide a fuller, more comprehensive service to their clients.
The industry’s movement into modern times has also shifted overall business tactics. In this new way of operating, clients don’t have to concern themselves with placement fees or other financial issues.
The placement service plays a critical part in this new business model. Instead of charging the client, the franchise negotiates with the facilities beforehand. It helps keep money concerns out of the conversation, so clients can stay focused on what matters, not finances.
The modern assisted-living placement model calls for a franchise that’s flexible, nimble, and ready to move with the times. That’s what we’re building at Assisted Living Locators.
We’ve pioneered the contemporary placement model, with no fees to the client and a network of facilities that all meet our strict standards for quality care. It’s made us the choice for clients wherever we open our doors.
Assisted Living Locators is preparing to expand into new territories again, and we’re looking for potential owners to come with us. Are you interested in finding out more? Let’s start a conversation today!
Angela Olea is a visionary and accomplished business leader in the senior care industry. She is a respected authority on franchising, elder care and senior placement, serving as a guest speaker at state and national aging conferences. In 2019, Angela received the honor of Top 50 Most Influential Women's in Arizona and the Visionary Award from Az Business Magazine.