The third barrier to the growth of the In-Home Senior Care Franchises market is a lack of regulation in the industry. The demand for these individuals is anticipated to be much more than the supply in the years ahead. It can be very difficult for in-home senior care franchises to find qualified nurses, staff or medical professionals to assist their patients. The second challenge is a lack of trained professionals. This makes it prohibitively expensive even for those families that are insured by insurance companies since they will almost certainly not cover the entire expense. In-home care facilities can cost anywhere from $3000 to $6000 a month. One of the biggest constraints in the In-Home Senior Care Franchises market is that of cost. In-Home Senior Care Franchises Market Restraints Franchise owners are likely to earn more than independent providers improving the attractiveness of the In-Home Senior Care Franchises market. In-home senior care requires very low initial investment and the earning opportunities are immense. Another factor boosting the In-Home Senior Care Franchises market is the high revenue. The In-Home Senior Care Franchises market is also expected to get a boost from improving technology.Īssistance & safety monitoring equipment has taken a dramatic leap in recent times driven by advances in sensory networks, bio-sensing, robotics, cloud computing and telecommunications. Even after they cross the age of 65, people prefer living on their own or with family members rather than in an old-age home. Most adults like living in the comfort & privacy of their own homes for as long as is possible. There is also a major shift towards “ageing in place”. Elderly care in the U.S alone is expected to be worth more than $300 billion in 2016. The Baby Boomer generation born immediately following World War II are expected to demand greater medical care and attention. In-Home Senior Care Franchises Market DriversĪn ageing population in the west will be the main driver of the In-Home Senior Care Franchises market. The long-term prospects of the In-Home Senior Care Franchises market are very bright indeed. It enables franchise owners to develop strong ties with both their clients and the community at large. In-home senior care is a perfect fit for the franchising model since it is highly regulated, systems-oriented and highly personal. That is where the In-Home Senior Care Franchises market comes into play. Most of us would also like to live in our own homes if we can make that choice. When we do age, though, we usually have only one wish – to live out the rest of our years in safety and comfort. Considering how busy we have all become, it can often seem that life passes us by in a blur. Throughout the course of the projection period, the market will expand at a noteworthy CAGR of 8%.Įvery person who is born must eventually grow old at some point. The in-home senior care franchises market is anticipated to be worth US$ 350 billion in 2022 and US$ 755.62 billion by 2032.
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