Revenues for elder care services in the U.S. are expected to increase 6.6 percent per year to $26.4 billion in 2011, according the U.S. Elder Care Services Market, a new report available on Reportlinker.com.

Increased health care will be the fastest-growing segment, the report states, driven by the growing number of seniors who want to stay in their homes as long as possible. However, services such as continuing care retirement communities, assisted living facilities, adult day care, companion services and non-medical home care services also will grow as the population ages, its says. The report presents historical demand data for the years 1996, 2001 and 2006, and forecasts for 2011 and 2016 by service type, provider, payment source and region. The study also considers market environment factors, evaluates company market share, and profiles 39 industry players.

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

Many people dream of becoming an entrepreneur, of owning their own business, of having the flexibility to leave their 9 to 5 job behind, but not everyone has the ability to go out and meet these goals; whether it’s by purchasing a franchise business or starting another type of company. Some of the major traits of entrepreneurs can be developed, including:

• The ability to set clear, measurable goals

• A motivation to seek out information and resources to reach your goals

• Proven leadership qualities

• Motivation to succeed

• A competitive spirit

• An idea or better way to do things

• Experience or knowledge of your specialty

• The willingness to do whatever it takes to make your business a success

However, there are other traits that make up a successful entrepreneur that are intrinsic – while you might be able to shape yourself to take on the above characteristics, with others you either have them or you don’t. The most successful entrepreneurs are system thinkers; meaning they can see opportunity and their place in it on a global scale. The great entrepreneurs are typically positive thinkers, and they have an instinct that allows them to evaluate risks and overcome obstacles.

Purchasing a franchise is an entrepreneurial venture that comes with less risk since you don’t go into it alone; it comes with a proven formula for success as established and tested by the parent company or franchiser. However, even with this in mind, if you don’t possess the traits that will make you successful as an entrepreneur, there is no fool-proof business you can purchase – so think long and hard to determine if you can make the commitment and go the distance.

Sources:

1. Articles Base

2. Ezine Articles

Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

Sure, as an entrepreneur you could choose to start a business independently, but there are a number of benefits of becoming either a franchiser or a franchisee. Let’s start by explaining how the franchise structure works – essentially, when you purchase a franchise, you are purchasing the rights to market and existing brand of product, generally under the supervision of a parent company. Franchises are most often recognized as being in the restaurant industry, but they cover a variety of brands worldwide beyond McDonald’s or Subway, including within the senior care industry.

If you’re thinking about starting a franchise business, there’s a number of reasons why purchasing a franchise can be to your advantage:

1. Brand marketing and reputation is already in place – an existing or well-known franchise with a good reputation will already attract clientele due to its known name and level of service that it offers

2. Reduced risk level – while there is always a risk, investing in a franchise offers more stability and certainty that starting a successful business self-sufficiently, because it has an existing reputation and has already been through the trial of error process.

3. Guided provided to franchisees – with most franchises, training and guidance is provided with regards to staffing, marketing and more. With an already established formula that has a proven track record of success, franchisees are in a better position to succeed than they might be going into business on their own

Although investing in a franchise might provide an easier and more surefire way for entrepreneurs to find success in their industry of choice – whether it’s in senior care or restaurant – franchises don’t guarantee success. But with adequate research, investigation and knowledge, there’s a good chance to find it!

Sources:

1. directory M

2. About.com

Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

When considering a franchise investment, money is going to be your top concern. Of course, the focus is on making a profit, but there are some specific questions that you will need to ask in order to determine the earning potential of the business and the amount you will need to invest in order to be a success. Don’t be shy, it’s your money on the line, so be sure to ask the franchiser the following questions and/or do your own independent research before you decide whether a franchise in that industry and with the brand your considering is right for you and your bank account.

1. How much will I make? Although the franchiser can provide these details, they’re not obligated to and they’re most likely to provide a wide range for the earning potential. To get a more accurate idea of revenues, talk to other franchise owners. Also keep in mind, most franchises don’t start making money until their second or third year.

2. How much do I need to invest? Most major franchises can provide you with a near exact start-up cost, but there’s always the possibility that other expenses will arise. It’s always a good idea to speak to as many other franchisees as possible.

3. When will I break even? It will take a while to recoup your start-up costs since you will need to build up your clientele at the beginning. The time involved might carry, but the franchiser and other franchisees can give you a rough estimate. To be safe, always plan for the longest period so you are financially secure.

4. How much working capital will I need? These are the costs of starting a business – and even within a franchise, they can vary greatly based on labor costs for staff, leasing of a building and other day-to-day operating costs that occur after you’ve broken even. Again, a franchiser or other franchisee might be able to provide an estimate, but always plan with a big buffer especially during the early months or years.

5. Where can I get financing? Starting up a franchise has its costs, but there are financing options available to help you get started. Take out a bank loan or a Small Business Association guarantee. You can also lease instead of buying an office space for your business and consider leasing equipment to reduce start-up costs.

6. Is the franchiser financially stable? You need to know how the franchiser is doing financially to see if they can help provide support over the long-term, and you also want to ensure the business isn’t going to go under, which could leave you with a useless investment.

Via: Directory M

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

How to Analyze Financial Growth

The measure of a successful franchise relates to the balance between the number of franchises being created and the number of people being interested and attracted in joining and investing in the franchise system. With the right balance, any franchise can successfully grow and prosper, but if you want to look at the measurable facts to help you analyze your financial growth, or to help you determine if a specific franchise is one that’s successful that you want to invest in, here are a few areas to evaluate:

1. Look at how many new franchises are added annually – this information will need to be requested from the parent franchisor company. A franchise that’s adding a large number of new locations is a good sign, but on the other hand, one that has grown insignificantly since it’s launch probably isn’t something you want to get involved with

2. If the franchise has seen significant growth, determine if it might be too much – growth that is too rapid could mean that the training and administrator program that assists new franchisees won’t be there to provide the required support and assistance that could make the difference between the failure and success. A successful franchise should be growing by 10% to 35% annually

3. See how other franchisees feel – when starting with a new franchise or considering your options, ask them about the support and training provided in the program for the franchise, and get a grasp of the marketing strategies and general potential for revenue earnings

4. Meet the staff – if you are purchasing an existing franchise, ask to meet the staff that works there to help you make your decision. Of course, if you are purchasing a franchise that has let to be launched, you can be involved in the hiring process. However, keep in mind that any existing support staff can probably provide valuable insight about the state and success of the franchise!

Via: Directory M Articles

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

If you are seeking information on being a franchisee, you will soon discover that this is a good choice. The money you invest along with your time and effort can bring you great successful personally and financially.

The first step you should take is to figure out what you want to do, what you want out of the experience and if you have the skills to be successful in the business. Since you will be investing your time and money into the franchise is it important you are doing something that you like.

Choosing which franchise is a difficult decision to determine. If you are having trouble determining which franchise you want to choose, Home Care Assistance invites you to take a closer look at the growing senior care industry.

Once you do determine that the senior care industry is one to explore, begin your due diligence on which senior care franchiser you want to build a long lasting and successful business with.

Make sure that the franchise you choose to become a part of will give you the best chance to achieve your own goals for your franchise business.

Source: Directory M Articles

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Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

Today some 50 million Americans are being cared for at home by family members, who often need help, but cannot find reliable resources. Many other, particularly seniors, would prefer to stay at home as they become less able to care for themselves, but lack family close by or able to help them on a daily basis (7 million seniors live more than 100 miles from family). These numbers are expected to increase rapidly over the next twenty years or so as the Baby Boom generation ages. To meet this burgeoning need, a home care industry, medical and non-medical, is rapidly developing. According to the trade group National Private Duty Association, its membership has grown to 700 from three years ago.

From many of the people who do not require skilled nursing care or want their family members caring for them, the best option is a non-medical home care service. These services provide companionship and/or help with daily activities such as shopping, driving, nutritious meal preparation, medication reminders, dressing and grooming assistance from a few hours per day to 24/7.

Take the first steps to becoming a Home Care Assistance owner today. Envision limitless opportunities in the senior care industry.  Call us today at 702-204-1436.

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When researching the best franchise organization, find the most relevant and valuable information that will help you identify which franchise opportunity is best for you. In our last post we listed the first 5 of 10 important questions to ask when researching the senior home care franchise business. Below, we are listing the additional 5.

6.    Does your territory size allow you to succeed in your market? Do you feel that you have to compete with other local franchises?

7.    What marketing and advertising resources were given to you by the franchisor to attract customers?

8.    Does your corporate office supply you with any other centralized resources? If so, what are they and how do they help you?

9.    What is your relationship with other franchisees? Do you interact at all? If so, do you find this communication helpful?

10.    Would you trust the quality of this franchise’s services enough to make your parents clients?

When asking these questions, always remember that each franchise owner will have had different experiences based on a variety of factors; make sure to be open-minded and objective during each call. Good luck, and we hope to hear from you soon!

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Envision limitless opportunities in the senior care industry. Take the first steps to becoming a Home Care Assistance owner today. Call us today at 702-204-1436.

At Home Care Assistance 1-866-4-LiveIn, we know that it’s easy to get overwhelmed with the many franchise options out there, especially when researching the booming senior care industry. It’s important to find the most relevant and valuable information that will help identify which franchise opportunity is ideal for you. One of the easiest, quickest ways to do so is by contacting current franchise owners and talking to them about their experiences. Below are our suggestions for the 10 most important questions that you can ask franchisees (listing 5 in this post, cont’d in next).  We hope that these make your conversations as efficient and informative as possible.

1.    What is your relationship like with your franchiser? Is someone always available to talk to you should any problems occur?

2.    How long have you operated your franchise?

3.    Why did you choose the senior home care industry over others?

4.    Why did you choose this specific company over others in the senior home care industry?

5.    How do you rate your franchisor’s training programs?

Envision limitless opportunities in the senior care industry. Take the first steps to becoming a Home Care Assistance owner today. Call us today at 702-204-1436.