The world of Senior Care Franchising is huge. Franchise businesses that focus on our seniors seem to be popping up everywhere. There are several reasons for it.
In the first place, our population is aging.
According to the U.S. Census Bureau, residents age 65 and over grew from 35.0 million in 2000, to 49.2 million in 2016, accounting for 12.4 percent and 15.2 percent of the total population, respectively. And by 2030, all the baby boomers will be older than age 65. This will expand the size of the older population so that 1 in every 5 residents will be retirement age. One more thing.
Life expectancy has increased. Specifically, on average, people who live to be 65 years old can expect to live about 20 more years. And they’re going to need care. (Maybe you can be the one who supplies it)
New Senior Care Franchising Report Out
Franchise Direct has a great track record producing franchise reports. This one is no different.
In this case, even things like technology, and how it’s impacting the senior care market are mentioned in the new report.
From Franchise Direct:
“Monitoring is a big portion of senior technology use. Innovation that allows for the personal monitoring of heart rates, sleep patterns, steps taken daily, etc. provides seniors and their caregivers with an accurate depiction of how they are doing vs personal observation. This data can be used to prevent certain crises.”
By the same token, technology has made basic senior-focused products-like your typical “I’ve fallen and I can’t get up” type even better. Like Wisewear.
“Wisewear is a series of fashion-forward smart wearables that allow wearers to receive real-time alerts and reminders, while also sending activity, such as sleep habits and fall alerts, to connected users. There’s even a single-tap distress signal option in case of emergencies.” Read more
With this in mind, I recommend reading the Franchise Direct Senior Care Franchising Report, so you can see what’s hot and what’s not in the world of Senior Care Franchising.