Are you thinking about investing in a senior care franchise? Would you like to know what the best investment options in the United States are? In this article, we present you with a complete guide to the main franchises in the non-medical sector, focused on improving the quality of life of the elderly. Join us and find out which is the ideal option for you!
U.S. Elder Care Industry
The elderly care industry in the United States is divided into two main branches: medical care and non-medical care. In most cases, we recommend starting in the non-medical branch due to the lower complexity in licensing and operating costs. This type of care includes activities such as remembering to take medication, accompaniment, leisure tasks, cleaning the home and assistance with daily activities such as cooking and hygiene.
Non-medical senior care focuses on improving the quality of life for seniors, allowing them to maintain their independence while receiving needed assistance at home. The demand for these services has grown significantly due to the aging of the population and the preference for receiving care at home rather than in institutions. Here are three franchises that Interlink FBC highlights in the sector:
Amada Senior Care Franchise
Amada Senior Care is a relatively new franchise that has grown steadily, with 176 units and an average of 10 new units per year over the past three years.
Its investment range is the highest among the options we will discuss, between $117,000 and $305,000. However, this investment includes an initial operating capital of up to $80,000.
A prominent advantage of Amada is its ongoing support program, where a training manager accompanies the new franchisee during the first week of operations. This ensures a smooth transition and immediate resolution of any doubts or issues that may arise in the early stages of the business.
In terms of performance, the average annual gross turnover is $1.7 million, with the most successful franchisees reaching up to $10 million annually. Amada’s cost structure, while elevated, is designed to ensure that franchisees have the resources necessary to establish and operate their business effectively. In addition, Amada offers a robust training program and ongoing support, resulting in high levels of satisfaction and success among its franchisees.
Assisting Hands Franchise
Assisting Hands, with 185 units, has been the fastest-growing franchise in 2023, adding 15 new units per year. Its investment range is more accessible, between $95,000 and $176,000.
A unique feature of Assisting Hands is the size of its territories, which can include up to 300,000 qualified people, compared to the average of 50,000 to 60,000 people in other franchises.
Turnover at Assisting Hands varies considerably, with some franchisees reaching $9 million and others as low as $300,000. This is due to the diversity of the territories and the individual performance of each franchisee. Larger territories offer a larger potential customer base, which can translate into higher revenue if handled correctly.
Assisting Hands also stands out for its personalized approach to customer care and ongoing support to franchisees. Its flexible business model allows franchisees to tailor their services to the specific needs of their communities, which can significantly increase customer satisfaction and long-term customer retention.
Homewatch CareGivers Franchise
Homewatch CareGivers is part of Authority Brands, a company that groups several franchises, including The Cleaning Authority. This collaboration allows us to offer complementary cleaning and care services for the elderly, creating synergies that benefit both franchisees and customers.
With franchisees having billed up to $40 million in 2023, Homewatch is positioned as a solid option. Its initial investment requires the hiring of two trained caregivers from the beginning, and the average turnover in the first year is $280,000, with an annual average of $2.2 million.
Homewatch’s application of artificial intelligence is a key differentiator. They have developed a camera with software that monitors the client’s daily activities and recognizes patterns, alerting relatives in case of unusual movements. Not only does this technology improve client safety, but it also offers families peace of mind, which can be a deciding factor when choosing a caregiver.
Homewatch also stands out for its strong support and training network. Franchisees receive thorough training and access to ongoing resources to ensure they can deliver high-quality service from day one.
*Data as of the date of publication of this article
*Values expressed in US dollars
Learn more adult care franchises
Elder care is a lucrative and growing industry in the United States. Amada Senior Care, Assisting Hands, and Homewatch CareGivers offer distinct advantages and challenges. Choosing the right franchise will depend on your profile and personal goals. If you have a humanistic approach and are willing to invest in a sector with high demand and growth potential, any of these options could be an excellent business opportunity.
Now that you have it clearer, are you ready to take the next step in your entrepreneurial journey? Contact us at Interlink FBC for more information and personalized advice on franchising in the United States.
