Home Care Franchise Essay

Partaking in a franchise is a fairly easy way to get into the marketing and business world. Many people consider starting a business that has a very well established reputation rather than creating their own business using their own ideas, due to its difficulty. In “Senior-Care Business Booms for Franchisers” by Ruth Simon, franchises have been around for awhile and now there is a new type of franchise that’s booming, senior care. Franchising in senior care is a flourishing business where proprietors pursue on the aging American populace, while providing a low cost entry for customers. “Over the past three years alone, the senior homecare sector has grown 6.6% annually, faster than the overall franchise industry’s 2.6% compound annual growth rate, according to market researcher FRANdata. About half of home-care agencies are now franchises, up from about one-third five years ago, according to Home Care Pulse LLC, a market-research firm.”(Simon, par 5) For franchisees who want to start their own home care franchise, temptations comprise of low startup costs. Startup investment for food and restaurant franchises cost from $200k to $3million depending on which type of brand and where you set up your location, and are very expensive

But there is another sector that is growing rapidly, senior and home care, and will be double the growth in 20 years. Owners who start a franchise are already ahead of others who choose to start their own business or corporation mainly because they have a product or service they can provide and established name. Also, because you are your own boss and it is still considered your own business even though you follow a little more regulations and rules than if you were a sole proprietor, as well as a very low failure