As a larger portion of the senior population is living longer, the need for in-home care is growing exponentially. Nearly 17% of the population are seniors. And that number is expected to grow 22% by 2050. Most seniors prefer to stay in their own homes, and the cost of assisted living and other residential facilities is out-of-reach for many. A home care franchise with a proven business model and recognized brand, such as Caring Senior Service, can meet this demand and help position franchise owners for long-term success.
In-home care provides a cost-effective alternative to residential care and relieves family members of the burden of providing that care. Compared to the costs associated with other options, home care is often a preferred and more affordable option. For example, the average annual cost of different home care options in 2023 is as follows:
This gives the in-home care industry–which includes both independent providers and franchisors–plenty of business opportunities. It’s estimated that the global home healthcare market is valued at over $320 billion.
Caring Senior Service believes that great care begins with providing the highest quality of care to families and caregivers. It also believes that technology can help revolutionize the way they’re able to deliver and improve upon care. Part of that innovation starts with providing each client with a tablet that’s programmed with the Tendio® Family Portal. Clients, their families, and their Caring Senior Service team can interact via the tablet. In addition to high-touch care, this allows the Caring Senior Service team to monitor trends and make active adjustments to in-home care services.
“We’ve been the only tablet-based home care company in the industry since 2016,” said Jeff Bevis, chief operating officer of Caring Senior Service. “We own our own technology platform that our founder, Jeff Salter, built. As a result, we have tremendous data leverage that allows us to improve health care outcomes to serve clients more effectively.”
Improving In-Home Care with the Aid of Technology
Caring Senior Service provides non-medical in-home care services to seniors and people recovering from illness, adults with disabilities, or anyone over 18 in need of extra support. The 30-year-old, Texas-based senior care franchise includes nearly 55 locations in the United States and has plans to double in size in the next 4 years.
The brand is led by Bevis, who spent two decades building a franchise in the in-home care sector, and Jeff Salter, CEO, who still owns and operates his own Caring Senior Service locations today. The company’s experience coupled with its desire to continually innovate through technology differentiates this home care franchise from others.
“Tablets give our caregivers an advantage. All the data is right there. It provides a conduit into a client’s home,” Bevis said.
The tablets allow caregivers to record data, access information on clients’ likes and dislikes and even use apps to engage clients in light exercise. Not only do the tablets allow for more consistent caregiving, but they also securely collect data that can improve health outcomes. By looking at what interventions work across the in-home care landscape, Caring Senior Service can better report healthcare outcomes to family members and their medical providers.
“Health care is moving to the home and we’re able to deliver more direct personalized care at the lowest cost point while maintaining the highest level of service,” Bevis said.
Former Business Executive Finds Success with Caring Senior Service
Seth Weisleder, agency director of Caring Senior Service of Essex County, New Jersey, worked in sales and marketing roles and for a health insurance company before he bought his franchise in 2018. It was through his own research that he discovered Caring Senior Service. After learning about the industry and talking to other franchises in the in-home care sector, Weisleder was attracted to Caring Senior Service’s business model. From building a website to managing contacts, the company was able to manage key business components he thinks are essential to day-to-day success.
“I knew CRMs, coming from sales, and I knew I could grow my business using that system,” he said.
“The tablets are programmed with Caring Senior Service’s proprietary software system called Tendio. This allows owners to look at client and caregiver information, referrals, data, reports, and more, all in one place.”
“Anything you can think of, it’s right there on the client-facing side plus we have access to business operations data. Instead of trying to calculate an average pay rate, you can simply find it with the click of a button,” he said. “If I need to know my number of clients, revenue, hours, or what my percentages are, I don’t need to search through files. I use Tendio.”
Caregivers benefit by having the ability to look up care plans instead of looking through a notebook or leaving details out. And family members and health care providers can get questions about a client’s health answered quickly and accurately.
“What if a client fell and a family member can’t be reached at work? As a caregiver, I can meet the ambulance and share with them a little health history by logging into the tablet; and they can see that I have a service agreement and a HIPAA form,” Weisleder said.
Another advantage to the Tendio system is that it’s accessible from anywhere – allowing franchise owners to quickly access information and make decisions wherever they are.
“I could be at the zoo with family and, if needed, I can simply pull out my tablet, call caregivers or send text messages to them without taking a half hour to sort it out on a bench. It really helps with work-life balance,” Weisleder said.
Caring Senior Service of Essex County continues to thrive, and Weisleder said he enjoys owning his own business. By following the corporate office’s recipe for success and learning best practices from other franchise owners, he’s been able to double his revenue year over year.
“I am also very impressed by the company’s culture and the other franchise owners—especially how supportive they were of me when I came onboard,” he said.
Opportunities Abound in Senior Care Franchise Sector
If you’re thinking about starting your own business, 2023 might the year to invest in a home care franchise. The demographics show that the demand is there, with one in five people expected to be older than 65 by 2030. Not only will there be more demand for caregivers, but an overwhelming majority of seniors prefer to receive care in the comfort of their homes. As the cost of assisted living and other facility care continues to climb, more families will rely on home care as a viable option.
In a survey conducted by Franchise Business Review in July 2022, Caring Senior Service received high scores from its business owners. With 86% of franchise owners participating in that recent survey, the results speak volumes about this franchise opportunity:
- 93% of franchisees are likely to recommend Caring Senior Service to others.
- 87% of franchisees agree that their franchisor cares about their success.
- 87% of franchisees say their franchise community is supportive of the brand.
Keith Perry, a franchise owner in Abilene, Texas, witnessed the success his father experienced over the past 17 years as a Caring Senior Service franchisee. He opened his own franchise two years ago. In fact, more than 30% of all locations have a family connection. Perry credits strong corporate support and technology as the top reasons for the brand’s success.
“Individual care is everything in this field, and tablets allow us to provide a level of care that others can’t,” he said. “We can build out and train on the individual service plans we have for each client we serve.”
Although Caring Senior Service provides its franchise owners with a proven system, it also allows business owners to be autonomous, allowing them to use the technology and systems available to adapt to market conditions in their own territories.
“I’ve been in business for two years and it’s probably been the most challenging time to own a business, yet I only have good things to say about this company,” Perry said. “It’s provided me and my family an opportunity that we wouldn’t have had before, and now it’s providing a service most clients have never had before.”
Are You Ready to Invest in a Home Care Franchise?
Providing care to seniors, physically challenged, and differently-abled clients, can be both rewarding and lucrative. According to Caring Senior Service’s most recent Franchise Disclosure Agreement, the average gross revenue for a location after two years of operation is between $850,000 and $2.3 million.
Caring Senior Service does not require its owners to have experience in the senior care or healthcare field, but owners should be passionate about serving older adults and their families and getting involved in their communities. Franchise candidates must also meet the following minimum financial requirements.
- Net worth of $250,000
- $150,000 liquidity
- A $45,500 franchise fee, with discounts for veterans and minorities
- An initial investment of $110,000 to $170,116 (including franchise fee)
You can also expect to pay monthly royalties on your gross net revenue, including:
- 5% royalty fee
Franchisees must participate in a week-long, onsite initial training that is very interactive and then in additional 16-week core development coaching which includes weekly scheduled conference calls that help you blueprint your first four months of actual operations. You’ll receive on-site support within the first six months of your initial training and have access to Caring University, an online educational platform, and the GreatCare training curriculum at any time.
You’ll also need to obtain state licensure to operate an in-home care business in the state where you provide care, but this is also a key area where Caring Senior Service has the expertise to support and guide you to success.
Caring Senior Service has over 500 major market territories available throughout the United States. It also has a unique offering for independent home care operators with interest in joining a leading home care brand to become part of the Caring Senior Service network.
“We have a demographic mapping tool that can identify viable territories to ensure there is a solid client base and dynamic pool of caregivers,” Bevis said. “We see interest and demand everywhere.”