Top Assisted Living Franchise: The Top Ones When Starting A Business
Entrepreneurs are noticing a rise in a demographic they usually don’t think about — seniors. To address this growing market, a number of businesses have thought about offering in-home assisted living. It used to be that people who are over 65 with family to help them out were sent to nursing homes. The problem with places like these is that they’re not only expensive, but they can also be understaffed.
In-home assisted living addresses cost and staffing problem by providing a caregiver for each senior and making the services more cost-friendly. No wonder a lot of people are looking into this lucrative market. If you need more resources on this opportunity franchiseknowhow.com is where to go for more details.
Here are some of the top assisted living franchises you can start today.
1. Home Instead Senior Care
This in-home assisted living franchise started back in 1994 and has grown tremendously over the years. They currently have more than 900 franchises worldwide and are planning to open 25 more in new locations.
The mainly offer non medical in-home care services for seniors. Caregivers provide basic
services such as the following:
● Personal care
● Reminders for medication
● Moderate housekeeping
● Meal planning and preparation
● Running errands
Home Instead Senior Care is one of the largest assisted living franchises in the US right now. They have an average annual revenue growth of 30% each year. This makes it one of the best franchises you can start with. The initial investment is at least $100,000. The franchisees will oversee the hiring and training of their staff. However, you should note that getting accepted in their network requires a vetting process.
2. Care Patrol
This Arizona based company started in 1993 and was named the Top Franchise for Women in 2018 by Franchise Business Review. They offer a stellar franchise system along with training and support for their franchisees. Right now, they have over 150 franchise partners. The following are the services they offer:
- Assisted Living – This service is good for those seniors who still wish to live at home with relatives or in their own homes but require assistance and other services.
- Independent Living – This service is offered for those seniors who want to live in a community where they can socialize but they don’t want to worry about housekeeping or maintenance.
- Memory Care – A service that’s specifically targeted to seniors with special care needs, such as those who have Dementia.
- Nursing Home – This is for seniors requiring the highest level of medical care and attention. This type of service is usually used for short-term needs.
The initial investment for Care Patrol is $49,500, and they charge a royalty fee of $500 to $1000 a month. It’s a lucrative franchise with a very competitive initial investment.
3. Granny Nannies
A family-owned business that started with their own personal struggle of finding an excellent in-home care solution. Granny Nannies began offering their franchise back in 1990 and has been consistently awarded. Just recently, they were awarded as the second Best Assisted Living Franchises Company in the USA.
Granny Nannies are known for their low-cost franchise investment and competitive royalty fees. The initial investment required is only $25,000. Their royalty fee is only is accounted towards the net income and not the gross income. They also provide a week-long training session in their corporate office to help you succeed in their franchise.
If you’re serious about providing an overall solution for the senior demographics, then Right At Home is the best option for you. They offer a full pledge senior home-care solution. Their services are as follows:
4. Right At Home
- In-home assisted living that provides non-medical needs
- Special home care situations with a customized care regimen
- In-home care for occasional needs
- Right transition services for seniors that are coming out of the hospital and need help transitioning.
The company says that most of their franchises become successful in the first three years and can even exceed $1 million in sales. The initial investment needed is at least $75,000. Franchisees are required to oversee the hiring of caregivers and medical professionals and marketing their services.
These assisted living franchises are known to have helped alleviate the increasing cost of health care, especially for those over the age of 65. The franchises mentioned above are the best in the industry, and they have brand name recognition. Find the franchise that suits your budget and start making a positive impact in your community today.
Subscribe with us to get your dose of interesting news, research & opinions in the startup segment. Fill the form below: