The huge generation known as the baby boomers was the largest generation ever born in Canada. This generation has led to an ageing Canadian population and a boom in the senior care franchise. Rising life expectancy also increases the number of seniors and the need for nursing care services for the elderly.
In fact, older people are the fastest growing demographics of old age in the world. About 12 percent of the Canada population are 65 years or older and offer an enormous customer base for companies serving this age group.
The senior care franchise is also unlikely to slow. The number of senior citizens is increasing from year to year and is expected to continue to rise until at least 2050. This makes a franchise that focuses on older people part of a growth industry that will always be in demand.
As older people grow older, they all have new needs that older franchise companies can benefit from. Some of these needs include the need for seniors to stay in their homes with some help, special health needs and the ability to use assisted living to care for those who can no longer live independently.
All of these franchise types provide valuable services that are increasingly needed by our parents, grandparents and great-grandparents.
Some senior care franchises offer medical assistance to those who need it, but not all of these companies are medical in nature. Some simply offer useful services that older people need to maintain their independence or make life a little easier. Personal care and assistance to seniors who need a little help around the home are becoming more popular as more and more people want to ensure that their parents are safe and comfortable at home.
The number of pensioners is growing from year to year, with the 65+ age group growing by more than 300,000 per year. By 2030 there will be nearly one billion senior citizens in the world.
In Canada, there are now almost 40 million people in this age group and thus a huge market for senior care franchise. There is space for these types of business in practically every community in the country, from large urban areas to the smallest rural cities.
Due to the great demand for these services, the supply of care facilities for the elderly has not yet met the demand. Many areas find that their growing older population has burdened the few local resources available to them.
This makes it the perfect time to start looking at senior care franchises.
Senior franchise companies often focus on certain aspects of senior care that have proven necessary in a number of senior households. Different franchises offer different needs for seniors, some of whom provide medical staff for seniors who need permanent home care.
Other companies provide care only a few hours a day or provide on-call services for seniors who require special care. Entrepreneurs have a number of franchise options to choose from when they want to enter the much-needed senior care industry.