Top Challenges of Owning a Senior Care Franchise
If you dream of helping the elderly by owning a senior care facility, the opportunities are ample. In fact, the healthcare industry provides some of the most stable options for potential franchise owners. The percentage of older people in America is increasing every day, with experts predicting that the senior population will grow to 22% by the year 2050.
Of course, there is no such thing as a franchise investment without challenges. People who run senior care franchises may struggle to hire qualified employees and find new clients. It can also be challenging to adhere to ever-changing state and federal regulations. Enlisting the help of a franchise consultant can help you decide whether or not a senior care franchise is the best choice for you.
In the meantime, here are a few things to consider before opening a senior care franchise.
Hiring Qualified Employees
Anyone who runs a franchise knows how difficult it is to find quality employees. And in the senior care franchise industry, maintaining the right staff is arguably the most challenging task for owners. For one reason or another, building a dedicated and well-performing team can seem almost impossible. Franchise owners face staffing problems which include:
- Employees calling out at the last minute
- Employees with subpar performance
- Quitting without a notice
- Leaving after a couple of months
To mitigate this issue, franchise owners should continuously be on the lookout for talented new employees.
On the bright side, the projected career growth for personal care aides is 34% by 2029. So although you may still run into issues with staffing, the pool of qualified employees that you have to choose from will increase.
Finding New Senior Clients
Owners of a senior care franchise must also vigilantly seek new clients. Client numbers in senior care can change quickly in response to their health needs or because, unfortunately, some clients pass away. To develop new business leads, it may be necessary to enlist a field care marketer. They can visit hospitals, senior centers, and community groups to inform seniors about care options for when they can no longer care for themselves.
Though it may surprise you, 68% of senior living marketers say that their website is their most effective option for drawing in new clients. So you’d be wise to follow suit. Consider leveraging social media and search engines as a means to find senior clients directly or appeal to other adults with senior family members.
Don’t forget to determine what resources are available for you through your franchisor. They can assist you in the process of implementing better marketing strategies and finding more clients.
Regulations and State Licensing
Wherever you choose to open your senior care franchise, there will always be state-mandated regulations to follow. It’s up to you to ensure that everyone in the business is properly licensed.
However, licensing requirements and regulations constantly change, so these aren’t always easy to keep up with. Regulations also vary by state, so you’ll need to research the requirements in your area.
Since there is no cut-and-dry method of completing the licensing process, consider choosing a franchise that includes licensing guidance within their training program. The regional directors should be able to provide you with detailed advice regarding your state’s licensing process.
Hundred Acre Consulting
Running a senior care franchise can be very rewarding once you conquer these common issues. If you’re interested in running a senior care franchise, Hundred Acre Consulting can help. We can help you find the best franchise to match your interests and area of expertise, then guide you through the process of actually running your franchise.
If you’re ready to explore your options with a franchise consultant, contact me today, and let’s get started!
Marketing by Joseph Studios
