Question: What is the senior services industry comprised of?
Answer: In this industry, senior and home services intertwine. The franchises in this specific category offer services such as home care, medical care, companionship, hospice care, assistance post-surgery, and even assistance for new mothers pre and post-natal.
Question: How much is the senior services industry worth?
Answer: Senior services is one of the most popular industries and is in a constant state of growth. There are approximately 75 million “baby boomers” between the ages of 51-69, making this generation the second-largest living population in the United States. This means this industry will be worth around $300 billion in revenue by 2020.
Question: Is the senior services industry booming?
Answer: Yes! Baby boomers are a large portion of the United States population, which means senior care franchises will begin to see growth in their business. The industry employs more than 350,000 people in approximately 8.560 different senior care businesses. In this age of technology, seniors and their families can turn to online platforms to match them with the right type of senior services. The eldercare industry is also on the rise because of the option to receive care from the comfort of an individual’s own home. Only around three percent of seniors live in nursing homes or communities, and many prefer the option of staying home.
Question: How can I request more information about a senior service franchise?
Answer: Visit our client pages to learn more about a specific franchise and request information! You can also check out our “Senior Services Industry Analysis” article under our Franchise Industry tab.