Home Care Franchise in Lubbock, TX - Motivated Seller

A combination of professional and knowledgeable support staff and compassionate, trained, and carefully vetted care providers deliver quality care to seniors and the disabled living in private homes, retirement communities, and independent and assisted living communities. The franchise provides part-time and full-time home care services including companionship, nutrition planning, meal preparation, light housekeeping, safety and security, and personal hygiene and mobility assistance. Alzheimer’s, dementia, diabetes, Parkinson’s care are among areas of specialization and opportunity. Location: Lubbock, Texas Year Established: 2003 Number of Employees: 126 Franchise: Yes Real Estate: Owned Building Sq. Ft.: 4,735 Facilities: Option to purchase Rent: $5,721/month About 5K square feet Market Outlook/ Competition: The In-Home Senior Care Franchises industry is benefiting from a growing number of aging baby boomers.   Over the five years to 2019, the number of adults older than 65 is expected to grow an annualized 3.6% to 55.0 million people. As people live longer due to advancements in medicine and technology, a growing number of seniors are looking to stay in their own homes and maintain independence for as long as possible. Franchise establishments that provide medical and non-medical in-home services enable seniors to do just that. The high cost of nursing homes and assisted living accommodations, coupled with the escalating healthcare costs associated with hospital stays, has also continued to drive growth in demand for industry services. The Patient Protection and Affordable Care Act (PPACA) of 2010 includes a list of changes to nursing services for seniors and the disabled, among them encouraging the transition from nursing home services to at-home managed care. As a result, industry revenue is expected to grow at an annualized rate of 8.0% to $10.9 billion over the five years to 2019, including an increase of 6.8% in 2019 alone. Average profit margins are expected to represent 15.4% of revenue in 2019. The franchise model has gained traction to capture the business of assisting senior citizens who want to remain in their homes. There are now more than 60 brands selling home healthcare franchises, which entice franchisees with moderate initial investment requirements and strong business support in key areas such as marketing and advertising. Instead of having to build reputations from the ground up as non-franchise businesses do, franchise owners benefit from the clout and name recognition of strong national brands. The number of enterprises is expected to grow at an annualized rate of 10.8% to 9,726 companies over the five years to 2019. Although industry growth slowed slightly during the economic downturn, in-home senior care franchising has remained strong. This growth is expected to accelerate over the next five years, with demographic changes expected to continue unabated. Over the five years to 2024, the number of adults aged 65 and older is expected to grow to 63.4 million people, accelerating industry growth. Additionally, solidification of changes implemented under the PPACA will shift demand toward at-home care, and an improving economy will better enable seniors to pay for non-medical services. Over the next five years, revenue is forecast to grow at an annualized rate of 6.4% to $15.0 billion. Growth & Expansion: The Franchisor's expansion into home-based medical care will increase revenue potential. Hospitals now have a financial incentive to reduce readmission and will encourage patients to receive care from agencies such as this company. The incredible Baby Boomer/age wave phenomenon coming makes it likely that Medicare will have to include Home Care payments as a benefit to prevent hospitalization, a new source of revenue. New preferred partnerships with Home Health Agencies and Hospice. Increased perceived value and visibility of home care as better options than assisted living as witnessed during the pandemic. Aging population. New Veteran Administration tools created by the franchise to increase Aid & Attendance access. Potential future tax credits for home care.