Are you looking at Senior Care franchise opportunities?
If so, be careful.
That said, you’re one of hundreds of people, who at this very moment, are seriously looking into becoming the owner of a franchise in a very hot sector of franchising. Unfortunately, they’re not reading this article. Well, not yet.
But you are.
Consider yourself lucky. Keep reading so you can keep your lucky streak going.
“No one can avoid aging, but aging productively is something else.”
– Katharine Graham
A Hot Franchise Sector
I know. You want to get into something that’s hot. You’re also smart: You want to take advantage of our country’s demographic trends. You’ve read the statistics. You know our population is aging. You know people are living longer. Etc. That’s one of the reasons you want to buy a senior care franchise.
Fact: The 65 and over population in the US has increased from 35.5 million in 2002 to 43.1 million in 2012 (a 21% increase) and is projected to increase to 79.7 million in 2040.
Fact: More people are getting older than ever before.
But, there’s something you don’t know. And it’s a fact, too.
Senior Care Franchises: Be Careful Of Buying One If You Can’t…
Sell better than almost anyone you know. I’m not kidding.
If you’re not outstanding in sales, you shouldn’t be looking to buy a senior care franchise.
Wait. That’s not me talking. That’s my brother, Gentle Joel. Let’s try this again.
If you’re not a tiger…a persistent, won’t take no for an answer, B2B salesperson, don’t bother looking at senior care franchises.
If you’re thinking about becoming the owner of a franchise in the senior care sector for noble reasons-like wanting to improve the lives of others, that’s great. You’re like 90% of the people I work with who are interested in senior care franchises. Just make sure you don’t ignore the business aspect of senior care.
Senior Care Franchise Opportunities: Getting Clients
When you start out as a franchise owner of a senior care franchise, potential clients aren’t going to be lining up outside your door at 8:30 in the morning, Monday through Friday, curious to see what you’re offering. The business doesn’t work like that. You have to find them.
In order to find clients, you have to build a referral network. That’s how your senior care franchise business will grow. You’ll call on:
- Estate Attorney’s
- Elder Care Attorney’s
- Hospitals
- Physicians
- Nursing Homes
- Insurance Agents
- Senior Communities
You’ll be trying to sell your awesome senior care services. You’ll have to ask them to refer seniors and their family members to you…to your business. You’ll be selling yourself. You’ll be selling your brand. And, you’ll be in a very competitive space. You’ll be competing with other franchisees from different brands, along with independent senior care services providers.
Are you ready?
Talk To Lots Of Franchisees
You need to talk to 10-15 franchisees. Ask them every single question I’ve included in my franchise research guide.
Without exception, you need to ask them about the “sales aspect” of the business. Ask them if it’s difficult to get new clients. Ask them how competitive the space is. Don’t be shy.
To conclude, the senior care franchise sector is booming and there’s money to be made.
Just be careful that you don’t buy a senior care franchise unless you know how to sell.
Tiger photo credit: Tambako the Jaguar via photopin cc
