Home Care vs. Other Industries

Owning a Home Care Franchise 

Imagine being your own boss and operating a successful business, while also making a positive impact on your community and being part of a growing industry that shows no signs of slowing down. Aspiring entrepreneurs often come to HomeWell seeking to attain this lifestyle from a home care franchise.

HomeWell Care Services responds to the ever-growing need for non-skilled in-home care. A home care franchise allows passionate, business-minded individuals to invest in an opportunity with a customer base that is growing by the day. 

Owning a home care franchise has many benefits, like giving you the possibility to establish your financial independence and give back to your community. You may be wondering if home care is right for you, especially since there are many other franchise options to consider. We’ll explain why a home care franchise may be what you’re looking for to reach your professional and personal goals. 

Why a Home Care Franchise?

Home care is a unique industry that can allow you to reach your financial goals. So what is it about home care that makes it one of the best franchises to invest in? Franchisees choose this field to:

Make a Difference

This service makes it possible to provide non-skilled in-home care to vulnerable members of your community. 

Grow Within a Thriving Industry

The home care industry is expected to grow exponentially as the baby boomer generation rapidly enters retirement age.

Learn About a New Field

No previous health care experience is necessary to become a successful and committed home care franchise owner.

Establish Financial Security

Home care is a growing industry and a as it is a viable business as there is always a need for the service.

Home Care vs. Other Franchises

When looking into buying a franchise, there are two questions you may have: What is a franchise, and what type of franchise is a good investment? 

When someone buys a franchise, they purchase the rights to do business under the franchisor’s name and sell their goods or services. In other words, they become part of an established company and get all the support they need to launch their business smoothly. Owning a franchise also provides access to marketing tools and ongoing support. As a franchisee, you won’t have to create a strategy for customer acquisition or develop a brand. Instead, you can focus on running your business and making it grow.

Franchise businesses operate in just about any industry. While you’re most certainly familiar with fast-food franchises, you may not know that there also franchised auto shops, spas, cleaning services, gyms, consulting services and more. While these franchises operate in different sectors, they all follow the same business model described above. 

Home Care vs. Other Franchises

What makes home care one of the best types of franchises? Here’s how it compares to other industries:

Commercial and residential cleaning companies serve a range of industries. These companies may clean office buildings, medical facilities, warehouses, schools, hospitals, restaurants and residential homes. According to IBISWorld, the janitorial services industry has grown at an average annual rate of 2.1% from 2015 to 2020. The market size is currently $64 billion.

Though the cleaning industry has experienced growth over the past few years, demand is currently declining. Today, more people are working and studying at home, reducing the need for commercial cleaning services. Whenever the economy declines, homeowners may be less willing to pay for cleaning services or forgo it entirely. 

The home care providers industry grew at an average annual rate of 2.2% from 2015 to 2020. Its market size is much larger than the cleaning industry at $97 billion. It’s also considered one of the fastest-growing health care industries in the country and will continue to expand as the population ages.

Neither the cleaning nor home care industry requires special skills or prior experience. You should consider what each job entails. As a cleaning franchise owner, you won’t have much variety regarding the services you offer. You’ll also be competing against over a million janitorial service businesses. With home care, you’ll be competing against fewer than 500,000.

Lastly, consider the impact of your business and whether it will be rewarding. Buying a franchise requires time and money, so it’s worth choosing an industry that’s meaningful to you. Although cleaning is important, consider if you want to work with people directly. If so, you may find home care more fulfilling.

If you’ve always dreamed of owning a gym and helping people get fit, you might be thinking about buying a gym franchise. However, even if you have a passion for health and fitness, you’ll want to pause before investing in a gym franchise.

Presently, the gym and fitness franchise industry is not looking too bright. As IBISWorld reports, the industry is currently declining, and many establishments had to close their doors. The market size is significantly smaller than the home care industry, at $3 billion. Although experts predict the gym and fitness industry will grow in the future, you’ll want to consider if it’s worth the risk.

Home care isn’t as strongly impacted by the economy or other external factors. For many older adults and their families, home care is necessary no matter what’s going on in the world.

There are other critical aspects to consider if you’re thinking about buying a gym franchise. First, some gym franchises require a substantial investment due to the cost of equipment and a large retail space. A home care franchise costs a fraction of that amount. At HomeWell Care Services, for instance, the average upfront investment ranges from $96,400 to $221,800.*

Regardless of the costs, a gym franchisor will want you to be consistent with their brand and offer services their customers expect. Therefore, you’ll need to make sure your facility is up to par and your employees are trained accordingly.

A home care business involves much lower entry and overhead costs. You won’t need to rent thousands of square feet or fill the space with expensive equipment. Since your staff will provide services to clients in their homes, you won’t have the expenses associated with a large brick-and-mortar business.

Deciding whether to buy a home care franchise or a health care franchise looks tricky at first glance. Both involve providing care and compassion to other people. If you’ve always wanted to help people and also want to make a profit, it’s understandable if you feel drawn to both options.

However, there’s a big difference between home care and health care franchises, which you’ll want to consider carefully. Health care franchises may include eye care, urgent care centers and hospice services. These businesses require licensed medical staff, such as nurses and physicians, to deliver services to patients. To start a health care franchise, significant industry with the medical industry may be required.

Meanwhile, you do not need a medical background to be successful in home care. Home care does not involve medical services, like changing wound dressings or drawing blood. Instead, home care employees focus on assisting their clients with daily living activities. The goal of home care is to help clients live safely and independently in their homes and provide companionship.

If you’re worried you don’t have the skills to own a home care franchise, know you won’t enter the industry blindly. Your franchisor will give you the training you need to excel as a home care franchisee. For example, at HomeWell, we offer step-by-step support, industry education and ongoing training. Our approach enables you and your staff to put your passion for helping others to work without a medical degree.

Health care franchises may also involve much higher startup costs than home care businesses. For example, an urgent care franchise might require an initial investment of over a million dollars. With an urgent care franchise, you’ll need to buy or rent a large space so you can have a waiting room, triage area, exam rooms, restrooms and offices. The American Academy of Urgent Care Medicine recommends 3,000 square feet for an urgent care center. You’ll also need to purchase expensive equipment and employ licensed medical staff to get started. With a home care franchise, your startup and overhead costs will be much lower.

A restaurant franchise may include fast-food restaurants, cafes or full-service establishments. Restaurant franchises offer instant brand recognition, which seems like an attractive feature. However, that doesn’t mean a restaurant franchisee will make a substantial profit.

Owning a restaurant comes with many risks, even if you operate under a well-known name. Any restaurant can be affected by changes in the economy, consumers’ tastes, industry trends and currency fluctuations. 

Home care franchises are less affected by those external factors. For many older adults, being able to live safely in their homes is a priority, and they are willing to pay for home care services no matter what.

Restaurants also need a great location to be successful. Location is the primary reason around 60% of new restaurants fail. With a home care franchise, you travel to your client’s homes within a given territory. You don’t need to worry about opening your business in a high-traffic location or paying for a property in a highly desirable area.

Perhaps one of the biggest deterrents to owning a restaurant franchise is cost. Many restaurant franchises require an initial investment of hundreds of thousands of dollars. Some require over a million dollars to get started. In addition, you’ll also need to cover a long list of costs to operate a restaurant franchise including rent, utilities, kitchen equipment, product inventory and many other expenses related to managing a brick-and-mortar establishment.

The restaurant industry is highly competitive. As a restaurant franchise owner, you may be competing against hundreds, maybe even thousands of other restaurants in your area — including your own brand. Although home care isn’t without competition, it is an in-demand industry that’s expected to continue growing.

Overall, owning a restaurant is risky business. If you want to make a more sound investment, a home care franchise is an excellent option.

What Type of Franchise Should I Open?

Still not sure what type of franchise to open? Buying a franchise is a big decision, so it’s worth carefully considering your options. Here are some tips to help you find the right match:

  • Consider your interests: What are your passions? What type of business appeals to you most? Aim to choose a franchise that energizes you and will make you feel fulfilled.
  • Do Plenty of Research: Once you know what direction you want to pursue, make sure to research your options. Your research will paint a clearer picture of what to expect and help you narrow your options further.
  • Contact Franchisors: Get in touch with your top choices and ask questions. Once you have a better understanding of their businesses, you’ll have an easier time deciding which franchise to buy.
  • Consider Your Investment Budget: No matter how much you love a franchise concept, you need to consider if it makes financial sense for you. Make sure the franchise suits your financial situation and is a good fit for your geographic area.
  • Avoid Fads: In general, it’s best to avoid fads when buying a franchise. Instead, focus on businesses that will enable long-term growth and success.

Learn More About Opening a Home Care Franchise

If you’re ready to invest in a franchise that allows you to help others and contribute to your community, home care may be right for you. At HomeWell Care Services, we can help you start your franchise journey with confidence.

HomeWell Care Services is one of the leading home care providers in the nation. We’re committed to helping our franchisees succeed, so they can make a difference and grow their business at the same time. From the moment you decide to join our franchise family, we provide you with the learning tools and support system that are designed to help you to succeed, from training through launch day and every day beyond.

HomeWell Franchise Owners are passionate, caring and know how to deliver real business results. If this sounds like you, becoming a home care franchise owner may be the perfect next step in your professional journey. 

Testimonials

HomeWell continuously adds value to my business. They provide professional brochures and training programs, help their owns stay abreast of current trends, know how to incorporate technology into processes, provide good recommendations for partnering with other industry vendors, hold an annual Conference with key brand and industry information, and facilitates access to other franchisees for knowledge sharing.

Josh Frommer HomeWell Care Services in Anchorage, Alaska

I have never owned a business and know my weaknesses. I wanted the support of a proven business formula. Why reinvent the wheel when it’s been done?

Tracie Dominguez HomeWell Franchisee in Colorado Springs, Colorado

We recognized the value of a system that is already working and where processes are already developed.  We can leverage the expertise of the franchisor in areas to complement our strengths.  We also see a lot of value in the network of fellow franchisees for sharing of best practices.

Frank Davis HomeWell Franchisee in Overland, Kansas

HomeWell, simply put, seems to do it the right way. From the focus of assessments, to the tools in place, the leadership in the Corporate Office and the existing franchise owners — this is an organization set up for success. I want to help build on that success!

Kevin Walters HomeWell Franchisee in Gateway, Florida

The HomeWell franchise community is a great group of people that have open discussion, work to help one another, and maintain a healthy amount of friendly competition. I am glad to be a part of this group.

Josh Frommer HomeWell Franchisee in Anchorage, Alaska

The biggest factor for us in choosing to do a franchise instead of launching a business on our own was really the wealth of knowledge HomeWell provides. We could have gone the route of figuring everything out on our own, but we decided that the training, support, and knowledge the HomeWell team provides was worth the investment.

Elysa Coleman HomeWell Franchisee in Cypress, Texas

I love how organized HomeWell is—from its structure to its programs. They know what works and have a step-by-step plan, which removes the ‘guessing game’ that business ownership can feel like at first.

Patricia King HomeWell Franchisee in Glendale, Arizona

I was reluctant to join a franchise, but what drew me to HomeWell was their family feel; it wasn’t a corporate feel. HomeWell provides us with direction and gives us what we need but also gives us the freedom to do what we feel is best for our franchises.

Mark Fratto HomeWell Franchisee in Beverly Farms, Massachusetts

The environment feels nothing like corporate America. It truly feels like a team, as we all rely on each other—the owners, the corporate office—everyone.

Susie Lerma HomeWell Franchisee in Crossville, Tennessee

I chose HomeWell because I wanted to grow alongside a “growing company”. The HomeWell team is easy to work with and is so invested in my success. The enthusiasm is infectious! After talking to several other companies, I also believe the processes in place.

Vaishali Nileshwar HomeWell Care Services in Stafford, Texas

HomeWell was the best fit between improving lives and building a business. The HomeWell Corporate Team was a big reason I chose HomeWell.

David Schloss HomeWell Franchisee in South Palm Beach, Florida

The thing that stood out to me the most when deciding to join HomeWell was the transparency of the HomeWell corporate team.

Ronnie Taylor HomeWell Care Services in Cedar Park, Texas

I have a lot of trust in the ownership. They listen to my needs and support me whenever I need.

Lou Romano HomeWell Care Services in Hackensack, New Jersey

The leadership of HomeWell – they’re there for you – 24 hours a day. You can call them, and they’ll get back with you. You’re not alone.

Tim Spaulding HomeWell Care Services in Clackamas, Oregon

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    This is not an advertisement or offer to sell a franchise or a solicitation of an offer to buy a franchise and is for information purposes only. HomeWell Franchising Inc. offers franchises solely by means of our Franchise Disclosure Document. Certain states and foreign countries have laws governing the offer and sale of franchises, including the states of California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of one of these states or foreign countries, we will not offer you a franchise unless and until we have complied with all applicable legal requirements in your jurisdiction.
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