Socially conscious? Community minded? Want to do some good in the world while you’re making a living? Then read the article below and you’ll learn how you can earn while providing a valuable, giving service—caring for the elderly. With the number of old people growing every day as baby-boomers reach the golden years, a business that provides elder care is uniquely positioned for extraordinary growth over the next decade and beyond. But now is the time to get started. It takes time to build your business in the community so that when the aging population mushrooms, you’re got a reputation for outstanding care.
Peter Casey, Financial Consultant
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Making a Difference While Making a Living...
by Franchise Business Review
Started in 1994, Home Instead provides extraordinary training to its franchisees that includes a dedicated business coach to help guide franchisees through the first months in business to assure a smooth and successful start-up. They also provide proprietary software to help run the business. In addition, Home Instead provides field visits, conferences, discussion groups, online resources and continued assistance from the Support Department for as long as you are in business. And with more 37,000 CAREGivers at more than 800 independently owned and operated franchises throughout the world, Home Instead is providing seniors and families around the world something much more than meals and running errands: peace of mind.
An Incredible Opportunity
With a population that is aging rapidly as the baby-boom generation starts to approach retirement age, Home Instead also provides an incredible business opportunity. The numbers are staggering. By 2020, 60 million North Americans will be 65 years old or older, representing a 62% increase. Moreover, 80% of these seniors say they will prefer to stay at home as long as possible before considering a care facility.
CEO Paul Hogan understands these demands of caring for a senior first hand. He and his wife Lori founded Home Instead after taking care of Paul’s grandmother for over 12 years. “After experiencing the rewards and challenges of taking care of my own grandmother, I thought other families must need the same kind of help I needed.” said Hogan. “Our mission, today is to be the world’s trusted source of non-medical companionship and home care for seniors.”
A Gratifying Career
What drove Mike Maguire and his wife Carol to become franchise owners was the opportunity to not only make a living, but also to own a rewarding and meaningful business. They looked at Home Instead because they knew it represented the strongest brand in non-medical senior care. And not just from their research, either. Carol worked her way through school as a Home Instead CAREGiver, and Mike worked at their corporate office with franchise owners for over six years.
“I witnessed first-hand the tremendous level of support from the home office,” said Mike. “And then you’d hear the stories about how much these owners loved what they were doing and what a difference they were making in their communities; it’s hard not to get captured by that.”
Mike and Carol actually bought a successful existing franchise from Mike’s brother, who had bought it on Mike’s recommendation years earlier. Yet, even with their experience, they still faced challenges. Home Instead helped them out with a business coach for the first 120 days. They also received field visits from support managers to help them develop a business strategy and marketing plan, as well as to teach them how to find and hire only “A” employees to ensure success.
When you say the word 'Franchise', most people immediately think of business-based franchises like those that are top listed in popular business magazines every year. But, it is important to remember that there are hundreds and thousands of franchises out there, some that are spectacularly successful, others that are total failures. Obviously, you want to avoid the latter.
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