Older Entrepreneurs Flock to Home Care Franchise Opportunities

The home care industry is predicted to continue growing at a time when many industries are contracting. In light of the opportunities presented from a business standpoint, a U.S. News report this week focuses on a population that is particularly positioned to gain: Older entrepreneurs. 

Through franchise opportunities offered by organizations like Home Instead, people who are 60-plus are seeking the benefits of running such a franchise later in life. Several owners shared their stories with U.S. News. 

U.S. News reports: 

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Ray Corkran bought an existing Home Instead senior-care franchise in Houston nearly 18 months ago as he was approaching his 60th birthday. With 20 years of experience owning fast-food franchises, Corkran knew the business metrics of what it took to be successful. But in plunking down roughly half a million dollars for a venture that was already established, he was making an investment that went well beyond dollars.

…Home Instead is one of a growing number of national franchises that help to provide in-home care to seniors. The International Franchise Association says senior care is among the industry’s highest-growth sectors. Further, it’s often a case of seniors helping seniors, as many new franchise investors are themselves older.

Local senior-care franchisees provide fee-based care services in clients’ homes, ranging from a few hours a week of companionship, cleaning, and meal preparation to 24/7 support. Ideally, seniors get to stay safely at home and family members have confidence that their loved ones are receiving top-notch care. And franchise owners are often driven by their caregiving genes as well as their desire to make money.

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Michele Bonneville bought her Home Instead franchise north of Tampa last year at age 61. She had spent more than a dozen years as an account manager for a healthcare company, following a similar period as a nurse. She was retired but decided the opportunity “was the perfect blend of both of my careers…”

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Written by Elizabeth Ecker

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