Entrepreneurship in the United States is breaking records. Today, 27 million Americans are starting or running their own business, and according to the Global Entrepreneurship Monitor (GEM), that’s 14 percent of the population.
Fifty-one percent of the working population believes good opportunities exist for starting businesses. Most of those who plan to start businesses in the next three years are already acting by leasing space or registering their companies.
One field some look to enter is in-home care, because not only are people living longer, they are living longer on their own.
According to Forbes, senior care or home health care is one of the best in franchising. In 2014, SYNERGY HomeCare was in the top 10 list of best franchises for up to a $150,000 investment. Forbes says these are the reasons the unique opportunity is on the rise:
- Lower investment cost. The investment is primarily for hiring marketing, recruiting and training staff, and for office space.
- Growing demand. Demand for in-home care is forecast to grow sharply, thanks to the aging of baby boomers.
- International opportunity. Most U.S. franchises are just beginning to look overseas at opportunities. The rest of the world is aging too, so growth opportunities abound in new countries.
- Help with red tape. Franchises become well-known to insurers, smoothing the way for policies. Mom-and-pop operations sometimes have hard times staying up to date with federal, state and local laws.
- Chance to do good. Helping seniors stay in their own homes affordably is more than a business. It’s a community service.