The number of aged care franchises has jumped by 40 per cent in five years, with senior care offering a better return than sit-down restaurants or real estate.
About half of home-care agencies in the US are now franchises, up from about one-third five years ago, according to market researcher Home Care Pulse.
The senior home-care sector has also grown by 6.6 per cent annually, much faster than the overall franchise industrys 2.6 per cent rate.
Initial investments also average only $US115, 000 for home-care, compared to nearly $US1 million for sit-down restaurants. Of all the sectors we look at, it has one of the highest returns on investment, said Eric Stites, chief executive of Franchise Business Review told The Wall Street Journal.
Income for senior-care franchises are averaging $US118,000 a year, versus $US82,0000 for the franchise industry as a whole, with home healthcare and personal-care aides two of the fastest-growing occupations too.
Its good news for Home Instead Senior Care, a US-based home-care provider that has nearly 1100 franchises across 12 countries including 32 in Australia.
With consumer-directed care (CDC) due to begin in February 2017, will we see home care franchising take off here too?