As the baby boomer generation ages, the need for elder care increases dramatically. In 2022, baby boomers were the second largest population totaling 69.6 million people ages 58 to 76. The trick is finding a home healthcare business that you can easily sustain with plenty of growth opportunities.
In 2022 the home healthcare industry totaled $226 billion in revenue and is expected to grow to $340 billion by 2027. The drastic increase is due to the prevalence of chronic illness and the aging population.
By 2050 there will be three times as many people over 80 as now, increasing the demand for home healthcare businesses. There are 4.5 million individuals needing private-duty nursing services, and not enough businesses to serve them.
If you want to learn how to start a business in home health care, look no further. Using a franchise model will help fast-track your business plan and get you up and running quicker. The need for private home care businesses is increasing every day as senior citizens remain the number two population.
Additionally, many families need home health care to assist with their medically complex infants and children. These agencies help with medical services such as tracheostomy care, feeding tube management, and in-home ventilator support..
The steps to start a home health care agency are straightforward and designed to get your private home care business up and running as quickly as possible.
Families who trust their medically fragile children or seniors to an outside agency need to know that they will provide quality services and care for their loved ones as they would their own family members.
Trust is a major factor in any healthcare organization. People are trusting you with their health and their lives. Investing in a franchise is better than starting your own agency.
First Day Homecare has built a reputation of trust in the personal care and private duty nursing industry. When you partner with us, you can bank on that trust and acquire new clients more efficiently.
A franchise company has already done all the hard work. They have established a reputable brand, built valuable relationships in the industry, and mapped out a solid business plan for success. You benefit by not having to go through all these steps.
First Day Homecare also offers new franchisees the following additional benefits:
If you enjoy helping people and want to make a difference in your community, personal care or private-duty nursing business is a great way to make an impact. Some of the benefits include:
The First Day Homecare franchise model is scalable,
You can expect an initial investment between $88,550 - $149,700. You should also have a minimum of $100,000 in liquid capital.
In 2022, our total revenue was $3,728,515 with an EBITDA (operating profit) margin of 8.05%. A First Day Homecare franchise offers immense profit potential.
There has never been a better time to enter the home healthcare industry.
Contact First Day Homecare today to get the ball rolling on starting your own home healthcare agency.