In our previous blog, we talked about the dawn of medical franchise opportunities in America. With Rexall, Miracle-Ear, and Pearle Vision, we have template of what works in the healthcare industry, as far as product-based franchises and businesses. Each of these successful companies offered something new to a market that had a demand for innovative healthcare products. Whether this meant pharmaceuticals, eyewear, or hearing aids, these three companies became widely successful because of their drive and their commitment to providing something different.

The success of these product-based medical franchises gave rise to a different kind of healthcare franchise: senior care.

The Transition To Non-Medical Service: Senior Care Franchises

As the Baby Boomer generation and their parents began to age, there was a new demand for senior care services that had been unneeded before. Because new advancements in medicine enabled this generation of aging adults to remain relatively healthy, there was no need for them to be admitted into a nursing home facility. Indeed, many of them preferred not to, and even refused not to, leave their homes. However, much of the Baby Boomer generation had wandered, leaving their parents with a need for companion care and professionals who could provide in-home caregiver services. And thus the door to in-home senior care was opened.

As soon as companies began to provide in-home companion services to seniors, the demand only grew, meaning that these startups could move into franchising almost immediately, unlike the earlier, product-based businesses which took anywhere from 20 to 30 years to begin offering franchise opportunities.

Homewatch Caregivers

This in-home caregiving service was one of the first (and longest-lasting) of its kind, starting in 1976. Due to the demand previously mentioned, they were able to begin franchising in 1996 and are still around today.

Other In-Home Care Franchises

Home Instead — Started in 1994, Home Instead was able to start opening the door to franchisees within a year.

Home Helpers — Started in 1997, this in-home, non-medical healthcare company was able to start franchising the same year.

Comfort Keepers — Started in 1998, this company began providing franchise opportunities the very next year.

These are just three of the dozens of non-medical, in-home senior care franchises that opened in the 1990s – early 2000s. While many of them were widely successful, the demand combined with franchise plans that were already proven to work meant a saturation in the market. This meant that in order to be successful, the newer companies had to provide a kind of customer service that stood apart from the competition.

The Next Step

Because companies had to begin to be innovative in their approach to healthcare, many started opening their doors to the possibility of providing medical services. Stay tuned to learn more about what the opening to medical franchises produced.

Men’s Vitality Center

We are one-of-a-kind in our industry, providing a quality of service, a passion for our patients, and innovative products so that we stand out from the crowd. If you are looking to own a franchise and you are passionate about men’s health, then contact us today and we’ll get you started!

 

Source: http://www.gpmlaw.com/portalresource/Franchising_in_the_Health_Care_Industry