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Best Senior Care Franchises For UK Franchisees
The care industry in the UK is an important part of the overall healthcare sector. It’s not just a profitable industry, it also gives business owners the satisfaction of serving the senior community.
Senior care franchises are unique in that they do not conform to the conventional idea of franchising. As a franchisee, you will need to rise above the ready-made template provided by the franchisor in order to succeed. On this page, you’ll find a comprehensive list of affordable senior care franchise opportunities.
Care As A Service Is A Booming Industry
There are many reasons why there’s more room today than ever for new senior care businesses.
For starters, it’s a sizeable, profitable market. The domiciliary care industry, on its own, generates over £8 bn in revenue each year. Nearly all local councils and authorities outsource their senior care budget to private businesses. Presently, over 1 million UK residents are estimated to receive domestic care – a number that many experts predict will rise in future.
How Much Do Senior Care Franchise Opportunities Cost?
Most franchises in this industry are domiciliary care businesses. In essence, such businesses do not need to spend a great deal of money on setting up a specialty care home, and hence, are relatively more affordable.
A typical senior care franchise will require you to invest £20,000 to £40,000 upfront. Franchisors provide franchising licence, necessary training and other support services as a part of the starting-up package.
Resale Value For Senior Care Franchises
Well-run and profitable franchise units that have established themselves in their territory fetch good returns on resale. However, to many franchisees who operate in this sector, success over the long term is the primary objective. Since many such franchises break even within the first two years, it makes sense to spend the next 5-7 years in consolidating the business and generating returns on the capital.
Do You Need A Licence To Run A Senior Care Franchise?
All senior care businesses are required to hold the applicable licences to run. In addition, the employees you hire need to be certified and licensed caregivers. Reputed franchisors provide thorough training to the franchisees and their employees as a part of the overall franchising package.