Despite the ups and downs of the economy, there are a few select industries that seem to be growing and in irrevocable demand; the home health care industry is one of them. The boom in this industry is largely due to the baby boomers retiring and approaching retirement, but there are a few other contributing factors as well that will keep this industry exponentially expanding into the 21st century.
Home health care can cover a diverse range of services. It’s not only for the elderly and aging population, but also for people suffering from chronic illness or a debilitating disease. New mothers who need an extra hand at home while settling into motherhood, cancer patients, post surgical and recovery patients, the list is endless in regards to the kind of help people are beginning to seek home health services for. There are two types of home health care; in home non-medical care and in home medical care and both are in high demand and will only continue to increase throughout the 21st century.
The aging population is what reinforces this industry’s growth; however, the aging populations aren’t what they used to be, as we can expect them to be healthier, more active, and more independent than ever before. It’s these characteristics that produce a fertile environment for home health care development and innovative growth.
What also stabilizes solid growth for this industry is the domino effect of aging. The baby boomers have begun to retire and will continue for years. Their children, who are currently often part of the “sandwich generation,” (those who are both parents to their own children and caregivers to their parents), who will retire soon after, seeking the same kind, independent care options their parents received, if not better. The people who are caring for a loved one currently are mentally taking notes and learning from their parents’ aging process and caregiving situation. They’re already making plans for when they can no longer live by themselves. They’re changing eating habits, eating healthier, exercising as much as they can and forecasting and preparing financially for their retirement and long-term care costs. They’re more determined to keep their independence longer than their loved on did, to be proactive in terms of health and to be covered, taken care of, and prepared financially. They do not yet think of themselves as “old,” and they probably never will. These aging populations want more opportunity as they age. They want to travel, play sports, take up new hobbies, and start new careers even. It’s because of this independent mindset that home health care, both medical and non-medical, will impact the healthcare sector, and the economy as a whole for several decades.
This sustained dynamic growth will increase job creation, start-up businesses, franchises, and will also help keep health care costs down, as well as retirement costs, and extended hospital stays. According to Business Insider (http://www.businessinsider.com/booming-industries-for-the-next-decade-2013-12?op=1), the projected employment growth between 2012 and 2022 in the home health care industry is 59.7%. That’s an astronomical leap in growth. With the demand for better and more home health care services, and employment that will require training continually, it’s no surprise that the home health care industry is a sector to definitely consider investing in for the future.
If you’ve been thinking about starting a new career and are looking for an opportunity to own your own business in an industry that will only continue to grow for decades, we suggest you consider FirstLight Home Care franchise ownership. We’re a franchise system founded upon our own personal stories and life experiences with caring for a loved one in their time of need. Our franchise system is developed and operated by several industry experts whose main focus and goals are to see very franchisee succeed in their market, grow as a business leader, and to deliver extraordinary service to our clients, treating them like family. At FirstLight Home Care, we’re not only a franchise system, but a family as well.
For more information about becoming a FirstLight Home Care franchise owner, please check out our franchise information page (https://www.firstlightfranchise.com/), and hear what our franchisees are saying about their FirstLight Home Care business (https://www.firstlightfranchise.com/why-firstlight/franchisees).
Download our Franchise Information Kit (https://www.firstlightfranchise.com/download-franchise-kit) or simply give us a call: 1.866.985.5348. We’re looking for potential franchisees who are passionate about their career and enjoy giving back to their community.