Finding the right niche industry to fit your personal skill set and interests is the No.1 key to success when you’re considering elderly care business concepts.
The $740 billion elderly care industry is made up of a wide range of specialized service providers. Deciding on the best franchise opportunity for you will depend on several factors.
Here are some things to consider about the hottest untapped elderly care niches for 2021 and beyond.
SENIOR RELOCATION SPECIALISTS
With almost 11,000 baby boomers reaching retirement age every day in the U.S., many families are facing the prospect of downsizing orrelocating themselves or their loved ones. The demand is growing for specialists who focus on the needs and well-being of this growing segment of the population.
Most older adults faced with a move haven’t done so in decades. The organizational and physical tasks associated with planning and implementing such a complex move can be overwhelming for the entire family. Professional advice and assistance from insured, caring experts can be invaluable.
One of the revenue streams Caring Transitions franchise owners provide is a relocation services for senior citizens. It’s a complete package of services that focuses on compassionately removing the burden of stress from families dealing with this issue.
Caring Transitions customers find a world of difference between traditional moving companies and full service relocation services.
All Caring Transitions owners are trained specialists in senior move management and they understand that families are experiencing an emotional and stressful time in their lives. Every relocation, declutter or liquidation project is handled with care and compassion.
HANDYMAN WORK & SAFEGUARD VISITS
For seniors who still live independently but need a little help around the home, handyman and home safety assessment companies provide many benefits to seniors seeking to age in place.
These types of businesses, aimed at the home improvement niche of the elderly care industry, are a good opportunity for business owners to provide care and services to seniors, without the challenges of the senior healthcare industry.
Services provided might include everything from yard work, monthly chores or home safety modifications. Such services are vital to the safety and wellbeing of older adults wishing to remain in their homes while lifting the burden off themselves and their families.
RESPITE CARE
For families taking full-time care of elderly loved ones, short breaks away can seem like an impossibility. Respite care businesses provide skilled, short-term care that allows primary caregivers in the family to step away and have a much-needed rest, while feeling confident that their loved ones are receiving the same compassion and attention they’ve come to know and rely on.
This is an often-overlooked niche of the senior care industry, as devoted caretakers can forget to factor in their own need for time off on occasion. Respite care providers offer an essential service in a growing segment.
SHOPPING & ERRANDS
As the “side-hustle”economy grows, businesses that provide reliable task fulfillment to seniors who do not drive or face other mobility issues are in high demand. Tasks can include picking up prescriptions, grocery shopping and driving clients to appointments and social engagements. These services allows seniors to maintain a sense of independence both within and outside of their home environments, a vital part of aging in place
CARING TRANSITIONS: A CATEGORY ALL ITS OWN
All of the various elderly care businesses provide great value to seniors and their families. With a Caring Transitions franchise, owners are able to to focus on three main service offerings to maximize revenue opportunities and meet the growing demand in the senior care and services industry.
Caring Transitions provides relocation, downsizing/decluttering and estate sales. These services yield strong revenue streams for franchise owners while improving the lives of many people in their communities.
The Caring Transitions home office team works with franchise owners and their employees continuously to maintain the highest standards in the industry. Each Caring Transitions owner earns the Certified Relocation Transitions Specialist (CRTS) designation, the most rigorous industry credential awarded in the field of senior relocation and move management.